ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Statement of Cash Flows

For the year ended 31 March 2023 (Expressed in Eastern Caribbean dollars)

2022 $

Notes

2023 $

Cash flows from operating activities Net loss for the year

(49,099,014)

(54,520,799)

Adjustments for: Depreciation of property and equipment

15 16 14 13 29 28 27 30 26 26 26 9

5,336,227

6,309,524

727,806 900,176

788,370 957,798

Depreciation of right-of-use assets Amortisation of intangible assets

3,063,789 (2,579,828) 1,177,000 23,432,278 6,475,644 (40,417,716) 725

35,247,720

Net loss (gain) on sale of foreign investment securities at FVOCI

(685,160)

Share of profit of associates Net pension cost during the year

1,701,000

(8,631 )

Gain on sale of property and equipment

Net losses on foreign investment securities at FVTPL

46,937,350 1,194,873 (90,053,738)

Net impairment losses on financial assets

Interest income

-

1,457,982

Interest expense – demand and deposit liabilities

164,949

152,314

Interest expense on lease liabilities

(50,817,964)

Cash flows used in operations before changes in operating assets and liabilities

(50,521,397)

Changes in operating assets and liabilities Term deposits

1,124,419

-

Money market instruments

6

(15,786,877) (6,313,095) 66,612,126 (2,056,482)

167,985,238 (8,645,491) (60,759,671)

10 11 12

Participating governments' securities Participating governments' advances Accounts receivable and prepaid expenses

(886,343)

7

26,920 937,833

60,473

Derivative financial asset Derivative financial liabilities

20

(1,109,982)

17, 18

585,009,383

175,557,329

Demand and deposit liabilities - domestic and foreign

19

60,910

(80,258)

IMF government general resource accounts

578,797,173 47,870,038

Cash from operations before interest and pension contributions

221,599,898 87,459,663

Interest received

(164,949) (2,815,000)

(1,610,296) (2,889,000)

Interest paid

Pension contributions paid

623,687,262

Net cash generated from operating activities

304,560,265

Cash flows from investing activities

15 14

Purchase of property and equipment

(8,659,640) (2,971,268)

(9,292,781) (2,665,156)

Purchase of intangible assets

Proceeds from sale of property and equipment

200

9,750

Proceeds from sales and maturities of foreign investment securities at FVOCI Purchase of foreign investment securities at FVOCI Purchase of foreign investment securities at FVTPL Principal collections on foreign investment securities at FVTPL Proceeds from sale of foreign investment securities at FVTPL

4,304,324,266

2,655,464,534

(2,684,596,821) (4,832,522,003)

(182,878,449) 82,298,396 112,687,044

(120,795,390) 30,491,473 325,146,786

13

Dividends received from associates

746,654

612,366

(526,974,800)

Net cash generated from (used in) investing activities

194,374,761

6