New Chairman for ECCB

July 29, 1997 - Established on October 1, 1983, some of the purposes of the Eastern Caribbean Central Bank, are to :regulate the availability of money and credit and to promote and maintain monetary stability.

Many years later, a World Bank document entitled "economic policies for transition in the OECS" states, quote: "the OECS countries have a monetary and exchange rate that has withstood two oil shocks, two major world recessions, and a series of devastating natural disasters in the last 25 years." The report concludes, "that the system has been well structured and appropriately managed."

Such was the background, against which a "handing over ceremony" for change in the chairmanship of the ECCB monetary council took place at the Rex St. Lucian Hotel. It was disclosed that because of foolproof strategies employed through the currency union, trade, investment and development policies of all member states were all clearly linked.

Summarily, these articles deal with the creation of a sound financial structure and the balanced growth and development of the participating territories.

Incoming chairman of the ECCB, Hon. Dr Kenny Anthony, painting a realistic picture of changes currently taking place internationally, pointed out that there was every need for the countries in the sub region to become self-reliant.

Governor of the ECCB is Mr. Dwight Venner.

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