Unfair rating of the IFC
THE EDITOR, Sir:
In response to Ms Charlene Henry's letter, published on November 12, alleging unfairness regarding IFC's treatment of the Caribbean Credit Bureau Ltd of Barbados, I would like to state that her complaints are unfounded.
Since 2009, IFC has been committed to supporting the development of robust legal and regulatory frameworks for credit-reporting systems in various Caribbean countries. IFC's credit bureau programme has been developed through an open and inclusive process, engaging the participation of various local and regional players, including central banks and a significant number of local, regional, and international credit bureaux. This includes the Caribbean Credit Bureau Ltd, with which IFC has engaged in various opportunities.
Open and efficient credit bureau systems are important because they are a necessary framework to promote access to finance for individuals and for small and medium enterprises, which are essential to job creation. Credit bureaux foster transparency and credibility, and a strong financial system, necessary for the social and economic growth of the Caribbean region.
Inclusiveness is a core principle of the IFC's operations, and this is no different when it comes to supporting the development of credit bureaux. This approach helps us remain aligned with the region's growth goals.
IFC LatAm & Caribbean