ECCB 2020-2021 Annual Report and Statement of Accounts

ECCB Staff Work from Home The management and staff of the ECCB transitioned to full telecommuting in response to the COVID-19 pandemic following a period of testing and preparation in March 2020. Youth Xpress Programme Debuts In May 2020, the ECCB released the first episode in a new video series dubbed: Youth Xpress. The series features young people in the ECCB member countries sharing their views, concerns and recommendations on issues that matter to and affect them. It is also intended to place focus on issues that affect the youth. ECCB Introduces New Public Engagement Series - ECCB Digital Dialogues The series was developed to create a new avenue for engaging the people of the ECCU and building regional solidarity in light of the risks and opportunities presented by the COVID-19 pandemic. The inaugural session was held on 2 June 2020 and focused on Pandemic and Digital Currency. EC One and Two-Cent Coins Cease to be Legal Tender The withdrawal came into effect on 30 June 2020, following the Bank’s July 2015 announcement that it was withdrawing the coins from circulation. ECCB Marks 37 th Anniversary The ECCB celebrated 37 years of service to the people of the region. Speaking on the anniversary, Governor of the ECCB, Timothy N. J. Antoine said that the Bank celebrated the milestone, fully cognisant of and thankful for the accomplishments over these nearly four decades and the achievements over the past six months in the face of the COVID-19 pandemic. ECCB Hosts 2 nd Annual Conference with Financial Institutions Held virtually for the very first, the conference brought together members of the banking and financial sector and ECCU regulators to discuss, collaborate and shape the development of the region’s financial system. The discussions focused on the theme: “The Changing Economic Landscape - COVID-19 and the Financial System”. First-Ever DCash Consumer-to-Merchant Transaction was Completed The transaction was completed on 12 February at Geo F. Huggins’ Foodland in Grenada as part of the closed pilot of the ECCB Digital Currency (DCash) Pilot Project. The Pilot involves the secure minting and issuance of a digital version of the EC dollar – DCash. One of the key goals of the project is to provide the people of the ECCU with a safer, faster, cheaper option for conducting financial transactions.

Highlights of the Year

ix EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2020/2021