to establish tech institutes or coding bootcamps. this can provide young people with skills in areas like ai, data analytics, or app development. i am talking about digital health initiatives like telemedicine which in my opinion is especially relevant for the scattered geography of the caribbean, as telemedicine can ensure everyone has access to quality healthcare advice, irrespective of their location or station. we should also be seeking to digitise health records thereby streamlining medical services and ensure timely care. i am talking about promoting e - commerce and digital marketplaces. specifically, we should encourage the development of local e - commerce platforms to reduce reliance on international giants. this can keep capital within the region and cater more closely to local needs. we should also seek to strengthen and expand digital payment solutions, from mobile wallets to online banking. this can boost e - commerce and reduce transaction costs. i am talking smart tourism where we offer virtual tours of tourist spots, catering to the growing market that prefers exploring destinations digitally before visiting. how about digitising our tourist services, from digital check - ins at hotels to augmented realityguided city tours ; let us use the technology to enhance the tourist experience. 5 / 10 bis - central bankers'speeches i am talking about building a remote work infrastructure. with the global shift towards remote work, the caribbean can position itself as a paradise for digital nomads. reliable internet, co - working spaces, and digital services can attract a global workforce. like i said, the possibilities are endless when it comes to the digital space, but i will mention one last low - hanging fruit and that is digitalising the arts and culture sector. two ideas immediately come to mind 1 ) online galleries where we promote caribbean culture by digitising and showcasing art, music, and literature on global platforms. 2 ) digitalise our festivals : our various carnivals can have digital counterparts, thereby broadening their reach. digital transformation isn't a mere trend ; it's the future. the caribbean stands at an inflection point, with the potential to harness the digital revolution's winds to sail towards prosperity, inclusivity, and resilience. by investing in infrastructure, skills, and innovation, we can ensure that our digital voyage is not just successful but also distinctly caribbean in its flavour and spirit. pillar 3 : green energy transition. the urgent need for a green energy transition is a global imperative, and for regions like the caribbean, it is not just

, and the use of off - balance sheet financial derivatives. methods have to be found also for handling the shifting demand for data in an environment in which financial markets are constantly undergoing change. this is the regulators challenge. at present, stability forecasting is often scattered with respect to risk categories, financial market segments and structural or regulatory issues. while every national regulator should be involved in this process, global recognition of this problem may be needed at the global level. this must not be confused with any doubts about the skills and knowledge of such special geographic groupings. central bank as regulator or financial services authority? having set guidelines, the issue of compliance is important. over the years there has been a simultaneous shift from a direct and administered system to market - determined and markedbased systems of determining interest rates, exchange rates and other key financial variables. however, the regulator or policymaker must still remain vigilant at all times to ensure that private owners and management of financial intermediaries operate within defined risk parameters, observe the standards, guidelines and codes diligently, comply with prudential regulations and norms, and follow the best corporate governance practices. the regulator who has responsibility for compliance may not necessarily be the regulatory which sets the guidelines as guidelines can span regulatory authorities. the need for coordination is therefore essential. even the role of governments in the process of underwriting balance sheets has been an issue. in the uk it was government which gave verbal undertakings to depositors about the safety of their funds. in the us, the question also arose around the issue of central banks bailing out financial institutions ( which were not banks ) and whether the use of funds which would otherwise be available to the treasury, was appropriate. this issue of bailing out financial institutions which central banks do not regulate also has implications for reporting obligations and raises the spectre of the wisdom and practicality of a single regulatory authority and the moral hazard of an institution which regulates but does not provide financial support, and the information and regulatory needs of the authority which does. it is noted that northern rock was regulated by the fsa and bailed out by the bank of england. importance of real time information the use of technology to produce an updated management information system on real - time basis and the re - engineering of business processes and systems are the tools which can help regulators to remain on the top of the potential problems. also, in many instances, the ability to regulate effectively is also dependent on the robustness of governing legislation,