ECCB 2017-2018 Annual Report and Statement of Accounts

ECCB ANNUAL REPORT 2017/2018

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as participation in the official reviews conducted by the IMF. The Bank also participated in IMF staff visits and Article IV consultation missions to Antigua and Barbuda, the Commonwealth of Dominica, St Kitts and Nevis, Saint Lucia and St Vincent and the Grenadines. The ECCB also joined CDB missions to Anguilla. During the review period, the Bank partnered with the Economic Commission for Latin America and the Caribbean (ECLAC) and The World Bank in joint diagnostic missions to countries affected by the passage of Hurricanes Irma and Maria. Support was also provided to ECLAC on its mission to Sint Maarten/ Saint Martin. Further technical assistance was also provided to all member countries through various networking meetings, seminars and conferences. 22 nd Sir Arthur Lewis Memorial Lecture - Chief Economist at the Barbados based Bitt Inc, Marla Dukharan, delivered the 22 nd Sir Arthur Lewis Memorial Lecture. The lecture, titled: Persistent Poverty or Sustainable Socio-Economic Development in the Caribbean – the Disruptive Reforms Necessary to Secure the Latter , was delivered at the Sir Cecil Jacobs Auditorium, ECCB on 8 November 2017. Dukharan spoke to the need to build resilience in the region through the implementation of “disruptive reforms” which included: legislated fiscal responsibility framework; digital payments ecosystem so as to achieve financial inclusion and eliminate the need for hard currency for intra-regional transactions; and gender equality, particularly for girls. Following the lecture, Deputy Governor, Trevor Brathwaite, presented the 9 th Annual Sir Arthur Lewis Memorial Book Award to Registrar and Secretary to the Board of Governors of Anguilla Community College, Carla Harris.

The book award is presented annually, in alphabetical order, to a selected college in the respective ECCB member country. The book award affords the college with the opportunity to increase its library’s collection with titles deemed valuable to students. Other Outreach Initiatives - Throughout the year, the ECCB Governor continued to engage various groups within the Bank’s member countries on economic and financial issues of the day. The groups included: Chambers of Industry and Commerce in the Commonwealth of Dominica, Grenada and St Kitts and Nevis; professional associations such as the OECS Bar Associations and the St Kitts and Nevis Institute of Chartered Accountants. The Governor also represented the Bank at regional and international conferences and fora. He presented at the CDB’s Annual Meetings in Turks and Caicos; and presented at the Bitt Inc Conference in Barbados. He also participated in a panel discussion on financial sector issues at the International Monetary Fund’s 2017 High Level Caribbean Forum in Jamaica; and delivered a presentation on Sustainable Development in Caribbean Countries at the Global Evolution Annual Symposium.

Revamp the Human Resource Strategy to Support Talent Development and Management

The ECCB concurs that human capital is the most important resource to an organisation. Notwithstanding ongoing technological advancements that continue to change the requirements of human capital in the workplace, there is always the need to ensure the attainment of balance between a well prepared workforce strategically equipped to assist its company in achieving organisational effectiveness. In this regard, the Bank continued its quest in the

View 22 nd Sir Arthur Lewis Memorial Lecture