In particular, countries which have high fiscal and external deficits or which are suffering from a loss of competitiveness should embark on comprehensive economic reforms. In the case of product markets, policies that enhance competition and innovation should, in particular, be further pursued to speed up restructuring and to bring about improvements in productivity.
However, another change that has come about in supervision at the Central Bank of Trinidad and Tobago is that we have teamed up with fellow regulators and signed Memoranda of Understanding to work with them to share information so we can cover all our bases when it comes to supervision.