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IMF verdict important to whole Island - Brown

by isleofman.com 15th September 2009

The International Monetary Fund's report on standards of financial regulation in the Isle of Man should strengthen international confidence in the regime here.

That's the verdict of Chief Minister Tony Brown, on the publication of the IMF's five-yearly scrutiny of the Island.

The body's 400-page report concludes the Island measures-up well to global standards of economic regulation and compliance.

And as an independent 'health check' it will play a crucial role in bolstering confidence in the jurisdiction during the current worldwide economic downturn.

Mr Brown says its findings are relevant to everyone who works, lives or does business in the Isle of Man (play audio file):

The IMF makes several recommendations for the Island to 'up its game' still further.

Among other things, the report says more should be done to strengthen its defences against further economic turmoil.



Clip 1
Posted by isleofman.com
Tuesday 15th, September 2009 06:00pm.

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