2019-2020 Annual Report and Statement of Accounts

AREAS OF FOCUS

Develop Macroprudential Framework The Bank will continue to improve the existing analytical framework for financial stability by incorporating macro-stress tests into the reporting function. Work will continue on the establishment of the Regional Financial Stability and Macroprudential Policy Committees and the continued development of the Financial Stability Report.

Deliver New Risk Management Infrastructure to Support the ECCU Financial Sector Continue to formulate policy for a Deposit Insurance Fund and work on corresponding legislation. Fiscal and Debt Sustainability Provide Policy Advice to Participating Governments and Facilitate Capacity Building of Member Countries for Effective Debt Management

In financial year 2020/2021, the Bank will continue its development of financial programming tools, as a means of providing robust analysis on member countries to their respective governments. Furthermore, work will continue apace on Debt Sustainability Analysis as well as on participation in the missions of the International Monetary Fund, The World Bank and the ECCB’s own country assessment missions. Growth, Competitiveness and employment actively promote the economic development of our member territories The Bank will examine policies, projects and tools necessary to facilitate increased growth, development and competitiveness of its member states. Some of the related areas will include: 1. The hosting of the 5 th Growth and Resilience Dialogue; 2. The digitisation of the ECCU economies; 3. An optimal regulatory framework for the financial sector; 4. The implications of a digital economy on employment and financial inclusion; and 5. The platforms and infrastructure necessary to facilitate the ECCU’s deeper economic integration into regional and local markets. In addition to its analytical and evidence based policy research on growth and development issues, the Bank expects to spearhead webinars for country participants, and to publish more research work in the Bank’s working paper series. The Bank will also: 1. Continue to collaborate with development partners in the area of statistics, including the rebasing of the GDP. 2. Enhance data management of Economic Statistics. 3. Conduct Business Outlook Surveys and compilation of national accounts and external sector statistics. With regards to the external sector statistics, the focus will be on the development of the country-specific metadata to support the compilation of the statistics and continuation of the back-casting exercises. 4. Continue to support commercial banks and other financial institutions in their implementation of new and revised prudential returns.

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| EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2019-2020