ECCB 2017-2018 Annual Report and Statement of Accounts

CONTENTS

i ii ii ii iii iv v vi x xi

Letter of Transmittal Mission Statement Vision Statement Core Values

Governor’s Foreword Review of Performance Monetary Stability Financial Sector Stability Fiscal and Debt Sustainability Growth, Competitiveness and Employment Organisational Effectiveness Financial Performance Corporate Governance Framework Areas of Focus: 2018-2019 Auditors’ Report and Financial Statements List of Commercial Banks Maintaining Clearing Accounts with the ECCB

1 6

10 15 24 27 31 46 50 59 67 163

Monetary Council Bids Farewell to Former Council Member for St Vincent and the Grenadines

Monetary Council Board of Directors

Corporate Information Organisational Chart Highlights of the Year