Government defends withdrawal of $500 million from FSC

Finance Minister Fayval Williams is defending the Government’s $500-million withdrawal from the Financial Services Commission (FSC), arguing that it poses no threat to the regulator’s stability or continued viability.“From time to time, and based on Government’s revenue requirements, the financial sector may request distribution of surpluses, reserves, or financial investments in excess of requirements for working capital from self-financing agencies,” she said at a news conference on Wednesday.

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