BASSETERRE, St. Kitts – IN AN EFFORT to increase understanding of economic and financial concepts among media practitioners, the Eastern Caribbean Central Bank (ECCB) today (June 15) hosted the first in a series of mini seminars.
The seminar, held at the Maltin Moving Conference Centre at the Eastern Caribbean Central Bank, was staged to promote a better understanding and appreciation of the operations of the ECCB and its role in the development of the Eastern Caribbean Currency Union (ECCU). In addition, the ECCB sought to enable reporters to build a foundation of economic and financial knowledge on which they could draw when communicating complex financial and economic issues to the public.
Facilitators of the seminar included Shermalon Kirby, Corporate Relations Officer, Kevin Woods, Economist, Sybil Welsh, Advisor, Hudson Carr, Advisor, Youlouca Armony-Browne, Corporate Relations Officer, and Chris Louard, Bank Examiner.
The three topics were delivered by simulating realistic formats which enabled much interactive discussion.
The first topic – The ECCB – its role, functions and operations – was presented in the form of a radio call-in programme which followed a lecture given by “guest” Kervin Woods. He was hosted by “radio personality” Shermalon Kirby who opened the ‘phone lines’ for the media practitioners to ask questions.
Topic two – ECCU Foreign reserves and their connection to the stability of the EC Currency as well as economic and financial stability – was presented in the form of a lecture given by Welsh, and was followed by a debate.
The topic was explored using an illustrative diagram which identified sources, uses and management of the ECCU Foreign Reserves. The lecture explained concepts related to currency stability and provided the media representatives with a clear understanding of the benefits of a strong and stable EC currency. It included a summary of influencing factors and the short and long term economic and financial implications of monetary policy decisions.
In the debate that followed, media representatives assumed specific roles to justify key monetary policy decisions.
The third topic - Financial stability and regulations and supervision in the ECCB – was presented in the form of a television broadcast which gave details about the role of the ECCB and other regulators in ensuring financial stability in the ECCU. The media representatives were introduced to the issues related to financial regulation in the ECCU.
Participants, on this occasion, were asked to demonstrate their comprehension by writing and presenting an article based on the presentation that was given.
Media personnel can expect a number of other seminars in the near future as the ECCB strives to bring a better understanding of economic and financial concepts thereby enabling them to educate the public more effectively.
