Monday, February 02, 2009, St. George’s: The Ministry of Finance advises the general public that it is aware of recent developments with the CL Financial Group and is currently assessing the impact and implications of these developments on all affiliates including CLICO and British American Insurance companies and Republic Bank. Government’s primary concern is the impact of these developments on policyholders and depositors in Grenada. The Ministry of Finance is in contact with representatives of these companies. Further, the Ministry of Finance is in constant communication with the Eastern Caribbean Central Bank, which is communicating with the Central Bank of Trinidad & Tobago. Finally, since these developments affect all members of the OECS, a coordinated regional response is being considered. In this regard, a meeting of the Monetary Council will soon be convened via videoconference. Details on the OECS response will be given following that meeting. From: Ministry of Finance INSIDE GRENADA NEWS