Guyana's President, Bharrat Jagdeo, has spoken out to defend his region against accusations of money laundering, accusing the Western countries pointing the finger of blame of having double standards on the issue.
According to reports, addressing the issue at the opening of the 34th Annual General Meeting and Conference of the Association of Caribbean Indigenous Banks (CAIB), President Jagdeo explained that:
"We should make sure that we don't have a movement of illegal money across our jurisdictions, but we must not legislate ourselves out of competitiveness and we must not put burden on our banking system that other countries don't have."
Mr Jagdeo reportedly went on to state that: "Caribbean countries must not put undue burdens on their economies just to satisfy some notion of probity that even countries that recommend the probity don't practice themselves."
The Associated Press quoted Daniel Glaser, US Deputy Assistant Treasury Secretary for Financial Crimes as defending the watchful stance of the West, arguing that the US is simply trying to maintain a global level of security.
"The US doesn't force anyone to implement these measures — it's a matter of international consensus," he stated.
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