Derick latibeaudiere biography definition

To­day's Ed­i­to­r­i­al

?The down­ward spi­ral that the Ja­maican econ­o­my has been locked in for the last two decades ap­pears to be deep­en­ing and time may quick­ly be ap­proach­ing for the T&T Gov­ern­ment to do more than sit on the side­lines mouthing ex­pres­sions of con­cern.

In the space of a few days, Ja­maica has been faced with the gut-wrench­ing, and ob­vi­ous­ly less than am­i­ca­ble, res­ig­na­tion of its Cen­tral Bank Gov­er­nor, De­r­ick Lat­i­beaudiere, which was quick­ly fol­lowed by the down­grade of the coun­try's long-term for­eign and do­mes­tic cur­ren­cy rat­ing by Stan­dard & Poor's, the rat­ings agency. The fact that Mr Lat­i­beaudiere chose to re­sign in the mid­dle of the ne­go­ti­a­tions for a new In­ter­na­tion­al Mon­e­tary Fund stand-by agree­ment–ne­go­ti­a­tions for which he was the des­ig­nat­ed lead ne­go­tia­tor–sure­ly re­flects the deep and ir­rec­on­cil­able pol­i­cy dif­fer­ences be­tween him­self and Ja­maica's Min­is­ter of Fi­nance Au­d­ley Shaw. Giv­en the ob­vi­ous con­se­quences of such a res­ig­na­tion at such a del­i­cate time, the fact that Mr Shaw was not able to per­suade the Gov­er­nor to stay un­til the end of the ne­go­ti­a­tions for the stand-by agree­ment does not re­flect well on the Gov­ern­ment of Ja­maica. The Gov­ern­ment there should have been able to pre­dict that Stan­dard & Poor's would have tak­en a dim view of the res­ig­na­tion. The rat­ing agency did, opt­ing to low­er its cred­it rat­ing on Ja­maica from CCC+ to CCC, mak­ing it clear in the ac­com­pa­ny­ing state­ment that the down­grade was di­rect­ly linked to the res­ig­na­tion and rais­ing the pos­si­bil­i­ty that the res­ig­na­tion could im­pact the time­frame for reach­ing the stand­by agree­ment with the IMF.

What was more dis­turb­ing in the rat­ing agency's state­ment was the pos­si­bil­i­ty that Ja­maica's dire eco­nom­ic straits could lead it to rene­go­ti­ate its huge debt with its

Derick Latibeaudiere, Contributor

One of the major lessons of the ten years since the start of these assemblies has been th recognition of just how important it is for us to maintain a healthy banking and financial system. A strong and healthy financial system is critical for the growth and development of any country.

Throughout the long history of financial markets, there have been a number of banking and financial crises that have severely disrupted economies. There is no reason for us to believe that there will be an end to these disruptions in an era of continuing technological change and innovation.

What is, therefore, important is that we continually seek to prevent and mitigate future crises. This we can do with a blend of sharp analysis, keen judgement, practical experience and a rigorous understanding of the workings of financial markets in both normal and abnormal times. I believe that this is what defines effective banking supervision. It is also this rigorous understanding of the operations of financial markets that is of critical importance to the development of macroeconomic policy, inclusive of monetary policy.

Over two and a half centuries ago, in the 18th century to be exact, Adam Smith wrote of the free-market system as the "invisible" hand that guides the market to achieve the public good. While that concept has today still not lost its resonance, the increase in the complexity of economic and financial affairs and the potential for instability that this has fostered, has placed us in a new arena - an arena, whose sphere of influence is constantly changing and one that, therefore, requires close and integrated monitoring in order for us to understand and manage the risks that abound.

Devastating repercussions

The banking crises of the last quarter o

Dionne Rose, Business Reporter

Latibeaudiere

Having in the past been unreceptive, or at best lukewarm, to the idea of appearing before any public hearing into the financial sector melt-down of the 1990s, the Bank of Jamaica (BOJ) now says it would testify in an inquiry into the so-called Finsac affair, if required to do so.

Audley Shaw, the finance minister in the Jamaica Labour Party administration which came to office last September, has said he is willing to have an inquiry into the matter - a call that was initially resisted by his predecessor, Dr Omar Davies.

Yesterday, BOJ governor, Derick Latibeaudiere, suggested that past central bank reservations to testifying before proposed hearings had to do with the fact that these would have taken place while litigation was under way against banks it supervised, whose principals had been accused of misconduct that helped to trigger the financial crisis.

"So ... we wouldn't be opposed to testifying at this time," he told the Financial Gleaner. "We can't be, the BOJ is the regulator."

The mid-to-late 1990s financial sector crash is among the most controversial, politically charged and expensive episodes in Jamaica's modern history.

Several banks and insurance companies, which used short-term money to invest in long-term assets, much of it on their own account, went belly up in the face of a credit crunch and the deflation of an asset bubble.

The bailout, mostly through Finsac, a resolution agency set up by the government, cost taxpayers an estimated J$140 billion, and is considered a major cause of Jamaica's current high debt-to-GDP ratio of 118.7 per cent, based on 2006-07 fiscal year estimates. But in the end, many people lost homes and businesses when they could not afford to meet debt payments, inflated by high interest rates.

Apportioning blame for the crisis has, for most of th

This article is about the name "Derick". For the name "Derrick", see Derrick (name). For other uses, see Derek.

Derick is both a masculine given name and a surname. It is a variant of Derrick. People with the name include:

Given name

• Derick Adamson (born 1958), Jamaican runner
• Derick Amadi (born 1984), Nigerian footballer
• Derick Armstrong (born 1979), American football player
• Derick Ashe (1919–2000), British diplomat
• Derick Baegert (1440–1515), German painter
• Derick Brassard (born 1987), Canadian hockey player
• Derick Brownell (born 1974), American soccer player
• Derick Burleson (1963–2016), American writer
• Derick Cabrido (born 1984), Filipino filmmaker
• Derick Close (1927–2021), English motorcycle racer
• Derick Downs (born 1984), American entrepreneur
• Derick Etwaroo (born 1964), Canadian cricketer
• Derick Fernando da Silva (born 2002), Brazilian footballer
• Derick K. Grant (born 1973), American tap dancer
• Derick Hall (born 2001), American football player
• Derick Amory (1899–1981), British politician
• Derick Hetherington (1911–1992), British naval officer
• Derick Hougaard (born 1983), South African rugby union footballer
• Derick Latibeaudiere (born 1961), Jamaican politician
• Derick Martini (born 1972), American screenwriter
• Derick Minnie (born 1986), Italian rugby union footballer
• Derick Neikirk (born 1974), American wrestler and baseball player
• Derick Ogbu (born 1990), Nigerian footballer
• Derick Osei (born 1998), French footballer
• Derick Parry (born 1954), West Indian cricketer
• Derick Roberson (born 1995), American football player
• Derick Silva (born 1998), Brazilian track athlete
• Derick Snow, American voice actor
• Derick Thomson (1921–2012), Scottish poet
• Derick Wanganeen (born 1991), Australian rules footballer
• Derick Wood (1940–2010), English computer scientist

Surname

See also