Basseterre, St. Kitts and Nevis [Press Secretary, PMO] – Prime Minister Hon. Dr Terrance Drew will join fellow Council members at the Aurora Anguilla Resort and Golf Club for the 108th Eastern Caribbean Central Bank (ECCB) Monetary Council meeting. Departing the Federation on Thursday, July 18, 2024, Prime Minister Drew will return on Friday, July 19, 2024, after the meeting.
The meeting will commence with a ceremonial transfer of chairmanship of the ECCB Monetary Council. The Honourable Camillo Gonsalves, Council Member for Saint Vincent and the Grenadines, will pass the chairmanship to the Honourable Dr. Ellis Lorenzo Webster, Council Member for Anguilla.
The members will address several key issues such as a report from the Technical Core Committee on Insurance, updates on legislative matters including proposed amendments to the Banking Act of 2015, and the framework for the Deposit Insurance System. Additionally, the Council will review the operations of the Eastern Caribbean Asset Management Corporation (ECAMC) and the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC).
Following the meeting, the new Council Chairman, the Honourable Dr. Ellis Lorenzo Webster, will host a press conference.
The ECCB Monetary Council, composed of one minister from each of the eight participating governments, convenes three times annually to receive the Governor’s report on monetary and credit conditions and to provide directives and policy guidelines. The chairmanship rotates annually among its members.