BASSETERRE, St. Kitts, October 20, 2017 (Press Unit in the Office of the Prime Minister) – Prime Minister and Minister of Finance, Dr. the Honourable Timothy Harris participated in the 89th Meeting of the Monetary Council of the Eastern Caribbean Central Bank (ECCB), which was held via video conference at the bank’s headquarters in St. Kitts on Friday, 20th October, 2017.
The Honourable Prime Minister was accompanied by the Financial Secretary in the Government of St. Kitts and Nevis, Mrs. Hilary Hazel at the one-day meeting.
The Monetary Council is the highest decision making authority of the ECCB and comprises the eight Ministers of Finance of the ECCB member countries: Anguilla, Antigua and Barbuda, The Commonwealth of Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines.
During today’s meeting, which was chaired by Dominica’s Prime Minister and Minister of Finance, the Honourable Roosevelt Skerrit, Heads of Government received an update on the Amalgamation of Indigenous Banks, as well as an update on the Eastern Caribbean Currency Union’s (ECCU) Growth Dialogue, which was staged in March of this year.
The Growth Dialogue brought together key stakeholders from the ECCU financial sector, the private sector, trade unions and civil society in an attempt to forge a consensus on a plan of action for addressing growth, competitiveness and employment in the ECCU.
The Ministers of Finance also received the Governor’s Report on Monetary and Credit Conditions in the Eastern Caribbean Currency Union, which included a review on the banking sector issues as at 30th June, 2017, as well as an update on the impact of Hurricanes Irma and Maria on Anguilla, Antigua and Barbuda, the Commonwealth of Dominica and St. Kitts and Nevis.
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