SVG Assumes Chairmanship of the Monetary Council of ECCB
St. Vincent and the Grenadines has officially taken over the Chairmanship of the Monetary Council of the Eastern Caribbean Central Bank (ECCB). This responsibility has been passed on from St. Lucia’s Prime Minister, Phillip J. Pierre, to SVG’s Minister of Finance and Economic Planning, Camillo Gonsalves.
Minister Gonsalves expressed his deep honor in accepting the role of Chairman, extending his gratitude to Prime Minister Pierre for his leadership during his term. As the new Chairman of the ECCB Monetary Council, Minister Gonsalves outlined several key focus areas that will be addressed during his tenure.
While Prime Minister Pierre stated that the recovery of the Eastern Caribbean Central Bank is well underway, Minister Gonsalves intends to continue the progress and further strengthen the institution. With his new position, he aims to guide the ECCB towards fostering economic growth and stability across the Eastern Caribbean region.
Minister Gonsalves highlighted the importance of maintaining the resilience of the Eastern Caribbean currency union and promoting financial stability. He emphasized the need to address challenges such as climate change, technology advancements, and the impact of the COVID-19 pandemic on the economy. Collaboration with regional member countries to support sustainable development and the advancement of the digital economy were also mentioned as crucial areas of focus.
Additionally, the new Chairman acknowledged the ECCB’s commitment to financial inclusion and its efforts to bridge the gap between traditional banking and digital finance. He expressed his determination to implement effective policies and initiatives that would enhance financial literacy and empower individuals and businesses in the region.
This transition in chairmanship signifies a new chapter for the ECCB and its ongoing pursuit of economic progress within the Eastern Caribbean. The appointment of Minister Gonsalves reflects the confidence placed in him by his counterparts, as well as the recognition of SVG’s dedication to regional cooperation and stability.
With Minister Gonsalves at the helm, the ECCB looks forward to continued collaboration with member countries to tackle economic challenges, drive innovation, and promote sustainable development. As the newly appointed Chairman, Minister Gonsalves will play a pivotal role in steering the Eastern Caribbean Central Bank towards a prosperous and resilient future.
