BASSETERRE, St. Kitts – EFFORTS made by the Eastern Caribbean Central Bank (ECCB) to maintain the stability of the Eastern Caribbean Dollar and the strength of the financial system will be the highlight of the ECCB 2009/2010 Annual Report, to be delivered tonight (Jun. 29) by Governor Sir K. Dwight Venner.
The presentation, which begins at 8:00 p.m., will be broadcast simultaneously on radio and television stations in all eight ECCB member countries. Venner’s address is expected to zero in on the central bank’s policies for enhancing the monitoring of commercial banks and strengthening the regulatory framework which non-banking institutions operate within.
ECCB Deputy Director Corporate Communications Sybil Welsh said the central bank has an important role in supporting technical and policy arms of government by providing statistical analysis. The specifics of that, she added, will be featured in tonight’s annual report.
“This is the people’s business and we have to give an account of our stewardship and look at what the bank has been doing to make sure we have a stable currency and a stable financial system. Because these are support systems of the economy, we have to show how we have partnered with governments in providing policy advice so they can make more informed decisions,” Welsh told SKNVibes.
The Governor’s report will also highlight the economic challenges facing the Eastern Caribbean Currency Union (ECCU) and how to improve the standard of living of ECCU citizens. This mandate covers from the policymakers to consumers across the ECCU and, according to Welsh, everyone should have interest in the financial wellbeing of the region.
“We want to emphasize what we have done. We know that the global economy has been going through a period of crisis and we have been there as an anchor to ensure some measure of stability. We are there to collaborate and see how we can put things in place that people can continue to depend on the stability they have grown used to,” the ECCB official noted.
Welsh said the annual report is even relevant the man on the street, as it will outline that currency that he spends has a stable value and the financial system in which he trades remains safe as well.
The presentation will be aired on ZIZ Radio and Television, WINN FM, VON Radio and KYSS FM. The text, along with audio and video recordings of the Governor’s presentation will be available on the Bank’s website (www.eccb-centralbank.org) from 8:00 p.m. on 29 June.
