Barbados’ Former Central Bank Governor Now Sits on Bermuda’s Financial Policy Council

Dr DeLisle Worrell

HAMILTON, Bermuda, Thursday August 23, 2018
– Former Governor of the Central Bank of Barbados, Dr DeLisle Worrell, has joined Bermuda’s Financial Policy Council (FPC).

In making the announcement, Premier David Burt said Bermuda is fortunate for the expertise the economist brings to the body which advises the Ministry of Finance and the Bermuda Monetary Authority (BMA) on financial system stability.

“His insight will add to the significant knowledge base already present among the distinguished members,” said Burt, who is also Finance Minister.

Worrell joins a seven-member council which was created three years ago for the purpose of assessing possible threats to Bermuda’s financial stability, and to identify policies and actions to mitigate or eliminate such threats. It also advises on the development of the financial stability framework in Bermuda, and makes policy recommendations designed to support the general economic and financial well-being of the country.

The other members of the council are Premier Burt, who is chairman; former deputy governor of the Bank of England, Sir Andrew Large, who is deputy chair; chief executive officer of the BMA, Jeremy Cox; Michael Butt, Dame Amelia Fawcett and Gil Tucker.

The council’s next meeting is scheduled for next month.

Worrell founded the Research Department of the Central Bank of Barbados in 1973, and served with the Bank until 1998, by which time he was Deputy Governor with responsibilities for research, management information systems and banking supervision.

He later served as Governor of the Bank from 2009 to November 2017, when he was fired.

His areas of expertise include: economic modelling and forecasting; financial risk analysis and stress testing; exchange rates and currency unions; monetary, fiscal and exchange rate policies; competitiveness; and, pricing and price formation.

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