ECCB 2016/2017 Annual Report

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ECCB ANNUAL REPORT 2016/2017

across the currency union to support the design and implementation of the Debt Management Strategies. GROWTH, COMPETITIVENESSANDEMPLOYMENT Consistent with Goal Five of the ECCB Strategic Plan, which speaks to engaging stakeholders around a regional economic development strategy to foster economic growth and employment, The Bank will undertake the following initiatives: •  • In collaboration with the OECS, implement an economic development plan for the ECCU (including regional sector strategies to reduce unemployment at national levels); •  • Advocate for, and provide technical support to member states on recommendations for improving MSME access to finance and markets; and •  • Consult and provide policy advice to member states on attaining a ranking among the top 50 in The World Bank Annual Ease of Doing Business Indicators . Statistics •  • The ECCB will expand the length of the period for external sector statistics compilation to include two-week missions conducted in- country. This will help to ensure that adequate time is allotted for the reconciliation of the previous year’s data with the current year’s survey, and capacity building of CSO staff; •  • Other initiatives aimed at improving the External Sector Statistics include: efforts at improving response rates to the surveys in member countries through awareness campaigns and video conference meetings with staff in the CSOs, to further build capacity in the

compilation processes; •  • The Bank will continue to provide technical assistance to member states on the compilation of the national accounts statistics; •  • Along with other agencies operating in the region such as the CARTAC, Project for the Regional Advancement of Statistics in the Caribbean (PRASC), OECS Commission and CARICOM, the ECCB will provide technical support to the execution of the action plan for the rebasing of the national accounts and expanding the national accounts tables for the member states; and •  • Work will also continue on expanding the scope and coverage of the national accounts. Regional Government Securities Market (RGSM) •  • The Bank will host a symposium, with various stakeholders, on the RGSM in November 2017 to chart theway forward, particularly deepening the market for long term securities and growing the secondarymarket for government securities in the Eastern Caribbean; and •  • The Bank will also conduct joint research with the staff of the Ministries of Finance aimed at enhancing the operations of the RGSM. Debt Management Advice and Capacity Building The following will be executed: •  • Leadership and communications training for Debt Managers; •  • Training on Public-Private Partnership (PPP) Arrangements; •  • Development of debt procedures manuals; •  • Technical assistance in implementing and monitoring Medium Term Debt Management Strategies;