Malta PM Takes De-Risking Battle To US

Malta has become the first western country to confront fears of de-risking after its Prime Minister flew to the United States in a bid to persuade banking giants to keep their correspondent banking relationships with the jurisdiction.

Prime Minister Joseph Muscat and a high-level delegation will discuss banking and financial services in a series of top level meetings designed to stop the country becoming the latest victims of de-risking.

Muscat, accompanied by finance minister Edward Scicluna, the chairman of the Malta Financial Services Authority Joseph Bannister and the deputy governor of the central bank Sandro Demarco, will hold discussions with several companies and decision-makers in the industry.

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