Governor of the Central Bank of Barbados Cleviston Haynes says that officials were looking at the possibility of easing “restrictions” on how much pension funds could be invested overseas.He gave this indication on Wednesday during his quarterly update on the Barbados economy.Several years ago, pension funds were able to access up to US$250,000 in foreign exchange every quarter under a tiered system, but in more recent years these funds have been limited in the amount of foreign exchange they are able to receive from the Central Bank to invest overseas and must go through an approval process.With interest rate hikes in the US and other international markets, investors are keen to cash in by moving more of their investments to those markets but are currently not able to do so due to the foreign exchange controls.
