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| Dr. the Hon. Denzil L. Douglas |
BASSETERRE, ST. KITTS, OCTOBER 2ND 2005 - St. Kitts and Nevis Prime Minister Dr. the Hon. Denzil L. Douglas says the month-long events by the Basseterre-based Eastern Caribbean Central Bank (ECCB) to focus on financial literacy, is timely, as it coincides with a series of training programmes aimed at reorienting the mind set of former employees of the St. Kitts sugar industry.
This re-orientation training includes the matter of financial management, inclusive of saving and investing financial resources wisely. This kind of training is important because it produces empowerment principles that individuals use to shape their future, and even to participate in the economic development through business enterprise. When looked at in this context, Literacy Month is very timely for us here in the Federation because of the assistance it gives to individuals, even to those who intend to pursue career paths in agriculture, tourism and services, said Prime Minister Douglas in a national broadcast to officially open the activities.
Dr. Douglas, speaking in his capacity as Minister of Finance, made a special appeal to the Federation's young people to engage in the issues and to take the opportunity to learn and internalize the shared information.
One has to remember that becoming financially literate requires sustained effort. It is a process that may require the assistance of others, attending seminars and workshops, of reading about financial issues and availing yourself of every opportunity that may arise to learn about managing finances, said the Prime Minister in his radio and television broadcast.
Financial Literacy Month has as its theme: Your Money Your Future and is being commemorated throughout the member countries of the Eastern Caribbean Currency Union since 2002 and coordinated by the Eastern Caribbean Central Bank in collaboration with Ministries and Departments of Government in member countries.
Prime Minister Douglas said the theme provides the basis upon which the activities of the month could give focus to the impact that current spending and investment decisions have on an individual's future.
He said raising public awareness in related matters is an effort by the ECCB and member Governments of the Union to arm citizens and residents with financial information that would help them to make sound decisions the kind of decisions that impact on family life and well being, and which could open options for investments of various kinds.
The point is development of our countries must be accompanied by the development of our people by improving the ability of our people to participate more effectively in the economies of our countries, while widening wealth creation. Further, it is expected that the financial well being of our people would, not only drive personal development, but it also provides additional fuel for the growth of our economies. Financial Literacy Month, therefore, works as an educational tool for the public, with the intention of spurring each of you to action, encouraging you to learn more about how to effectively expand and manage your finances, said Prime Minister Douglas.
The Month of Activities outlined by the ECCB is extensive and includes a launch of stories of ordinary people who have achieved financial success, discussion on youth radio programmes on the theme, airing of financial tips on radio in English as well as in Spanish, a Financial Fair/Open House offered by financial institutions and public companies, providing an interactive forum for questions and answers on the wide range of financial matters, a panel discussion on Investing in your Future the ECSE and RGSM, with panelist coming from the ECSE, public companies and the Ministry of Finance as well as several pertinent interviews that would be aired in the media throughout the month.
Financial Literacy Month is another important opportunity for citizens and residents to gather as much information as possible.
