At a meeting held remotely on April 30 to assess possible threats to Bermuda’s financial stability and to identify policies and actions to mitigate or eliminate such threats, the Financial Policy Council (“FPC”), an advisory body supported by the Ministry of Finance and the Bermuda Monetary Authority, noted that residency rules and immigration policies are important factors for Bermuda to address as it grapples with the economic challenges and “existential issues” arising from the coronavirus pandemic. The FPC hopes that the circumstances arising from the crisis will unlock the key to addressing such issues immediately.
