2019-2020 Annual Report and Statement of Accounts

i ii ii

1 4

Letter of Transmittal Mission and Vision Statements Core Values

Monetary Stability Financial Sector Stability Fiscal and Debt Sustainability Growth, Competitiveness and Employment Organisational Effectiveness Financial Results Corporate Governance Framework Areas of Focus for 2020-2021 List of Commercial Banks Maintaining Clearing Accounts with the ECCB Independent Auditors’ Report and Financial Statements

13 17 21 33 37 46 53

iii iv v vi viii

Monetary Council Board of Directors Organisational Chart Management Structure Agency Offices Highlights of the Year Governor’s Foreword

Table of Contents

ix xi

54