Central Bank of Belize hosts CARICOM governors as regional payment system moves to pilot phase

The Central Bank of Belize hosted the 66th Bi-Annual Meeting of CARICOM Central Bank Governors, where governors and senior officials reviewed regional work on payments modernisation, supervisory cooperation, cybersecurity and climate finance. The main operational update was that the CARICOM Payment and Settlement System has moved into a pilot phase for instant cross-border payments in local currencies, alongside discussions on its governance and technical implementation. Governors said Caribbean economies remained resilient despite geopolitical uncertainty, high energy and food prices, and tighter global financial conditions, and they emphasised financial stability and policy coordination. The meeting also covered progress on the Caribbean Regional Green Taxonomy being developed with the International Finance Corporation, the proposed regional bond initiative for climate-resilient infrastructure, and the V20 Central Bank Governors’ Working Group’s Lifeline Fund Initiative. Updates were also received from the Caribbean Economic Research Team, the Caribbean Group of Banking Supervisors, the Cybersecurity Information Sharing Group, the Regional Central Bank Group of Reserves Managers, and the Caribbean Regional Technical Assistance Centre, including its Phase 6 service delivery. The governors will next meet in November 2026 in Belize City for the 67th Bi-Annual Meeting and the 57th Annual Monetary Studies Conference under the theme From Vulnerability to Capacity.