THE STAR BUSINESSWEEK AUGUST 25, 2018
WWW.STLUCIASTAR.COM
SAINT LUCIA’S BANKERS BRACE FOR CHANGE
Global tax bodies are ramping up regulatory pressure. Is Saint Lucia ready or will it find itself back on the EU blacklist? BY CATHERINE MORRIS, STAR BUSINESSWEEK CORRESPONDENT
Venezuela creditors eye oil assets in battle over unpaid debt As Venezuela and its state-owned oil firm PDVSA lurch from crisis to crisis, defaulted creditors are jockeying for position to ensure they are among the first to receive cash when payday eventually comes Page 3
Anti-Ortega protests leave Nicaraguans living under the volcano At the foot of Masaya volcano in Nicaragua, shoppers and children in school uniform bustle about town. But the ominous rumble from deep inside the crater is a reminder that it could blow at any time
When Saint Lucia found itself on the EU’s tax haven blacklist in December 2017, it was a wake-up call for the financial services industry. The government moved quickly to address the EU’s concerns and earned a reprieve just four months later, but Saint Lucia’s banking sector still faces intense pressure from regulators and a host of compliance-related challenges. Continued on page 4
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