Keeping the public informed of what is happening with the global and US economies and the impact they are having of Bermuda is the main focus during these tough financial times.

That is according to Finance Minister Paula Cox, who met with Government's Washington-based economic advisers Andrew Brimmer and Ken Levine to debate the economic challenges facing the US and the knock-on effect on the Island at a round table discussion led by Financial Secretary Donald Scott.

This follows the latest International Business Forum held with some of Bermuda's top business leaders last week to discuss the local and global economic outlook.

Ms Cox said one of the most important issues that needed to be addressed was making sure people are in the picture, especially during today's financial crisis, at the same time as keeping the economy going.

"We know that when the US catches pneumonia, Bermuda sneezes or has a severe cold," she said.

"We certainly have to have our own form of economic stimulus and I have been doing that continually.

"We are going to have to realign some of our programmes and spending accordingly."

She pointed to the current construction developments online as examples of how to stimulate the economy and stressed the importance of capital projects such as building bridges and hospitals, while planning and making provisions for the future.

Republican representative Richard Neal, of Massachusetts, put forward a bill in September aimed at "ending the advantage of offshore reinsurance entities over American companies", claiming the amount of reinsurance ceded to offshore affiliates had grown from $4 billion in 1996 to $34 billion in 2007, including $19 billion to Bermuda affiliates.

Mr. Levine said Mr. Neal's bill would "put up a barrier to reinsurance capital coming into the US", not just for Bermuda, but for the rest of the world.

"That is exactly the wrong thing to do at this time for the US economy," he said.

"We need more capital, not less capital.

"Given the biggest crisis facing the US is the economic situation, it is not the time and I do not believe Senator Obama will support these efforts."

Ms Cox said: "Bermuda through the Ministry of Finance is closely monitoring the global economic developments. The United States is an important commercial and trade partner to Bermuda.

"Most of Bermuda's business is still sourced from the US and we are very grateful to have the assistance of Dr. Brimmer and Mr. Levine who have provided us invaluable advice in navigating through these challenging times."