Governor Updates Media in Anguilla on Recent Developments in ECCU

The Governor of the Eastern Caribbean Central Bank (ECCB), Timothy N. J. Antoine, began his 2022 Country Outreach Missions to ECCB member countries, in Anguilla from 4 – 6 May.

During that visit, the Governor paid a courtesy call on the Governor of Anguilla and held discussions with the Executive Council, the Shareholders’ Committee of the National Bank of Anguilla,  the Leader of the Opposition, bankers and representatives of various social groups.

Governor Antoine also visited to the Valley Primary, the Bank’s mentorship school, where he met with the principal, staff and students, the Honourable Minister of Education and other officials from the Ministry.

The three-day Mission ended with an engagement with the local media.

This week’s episode of ECCB Connects focuses on that engagement where Governor Antoine, along with the ECCB country economist for Anguilla, Kevin Woods, delivered a presentation on how geo-political developments have presented threats and opportunities to the fiscal and economic development of the ECCU member countries.

Governor Antoine informed the media that the current war in Ukraine has had a chilling effect on the ECCU economies in relation to increased prices for food and fuel. As a result, the projections for growth, would be moderated downward.

Woods reported that the supply chain disruption, as a result of the COVID-19 pandemic, negatively affected businesses in Anguilla. Woods added that with the current war, the consumer price index continued to rise due to increases in food and energy prices.

Notwithstanding, Governor Antoine advised the media that the ECCB was taking measures to combat the current issues. He said the measures included the implementation and launch of the Credit Bureau, the Eastern Caribbean Asset Management Corporation and the launch of D-Cash.

To view the full presentation, log on to the ECCB’s YouTube channel and Facebook Page: ECCB Connects.

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