ECCB 2023-2024 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2023 - 2024

N ational A ccounts and E xternal S ector S tatistics The External Sector Statistics (ESS) for the period 2022, with projections for 2023 and 2024 were compiled and disseminated. As part of that exercise, surveys were administered to regional and international organisations on behalf of the ECCU countries. In-country compilation missions were executed from July to November 2023. The missions’ estimates were disseminated via the ECCB’s website and the IMF’s Integrated Collection System (ICS) on 31 December 2023. Quarterly external sector indicators were also published on the Bank’s website. In addition, the Bank prepared and published the External Sector Statistics report for the ECCU on the results of the 2022 survey. Those surveys were conducted by member countries and the ECCB. That report marked the beginning of a series aimed at enriching data insights into the external sector statistics produced for the member countries. The long-standing, back-casting project to compile the Balance of Payments (BOP) estimates for the period 2000-2013, in accordance with IMF BOP 6 th Edition was The Bank, as part of its efforts to enhance organisational effectiveness and development in statistics, implemented additional data integrity and variance checks within its statistical enterprise solution.

Other areas of focus during the year included training of staff in the IMF’s Debt Dynamics Tool (DDT) and the preparation of DDT reports for several member countries. The reports detailed the debt situation within member countries and provided a framework to monitor how member governments are progressing towards the 60 per cent Debt GDP target by 2035. M onetary and F inancial S tatistics The ECCB continued to provide timely, reliable and accessible monetary and financial statistics to various stakeholders - locally, regionally and internationally. In addition to fulfilling ad hoc data requests, statistics were published on the ECCB’s website. The Bank, as part of its efforts to enhance organisational effectiveness and development in statistics, implemented additional data integrity and variance checks within its statistical enterprise solution. Those measures were put in place to enhance the quality and accuracy of data collected and reported by the ECCB. The Bank strengthened the capacity of its staff in data related areas, through training in the following: ; BASEL II/III; ; Compilation of Financial Soundness Indicators; and ; GDP Now Casting Framework. The ECCB also began publishing selected data on individual commercial banks within the ECCU, aimed at empowering data users by allowing them to view and compare statistics across commercial banks as well as against national and ECCU averages.

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