Eastern Caribbean Central Bank 2024-2025 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2024 - 2025

Organisational Effectiveness and Development

Secretaries shared their ideas on energy matters following a presentation by the ECCB on “Energy Revolution: Operationalisation of the Caribbean Renewable Energy Infrastructure Investment Facility.” Discussions also took place on the blue economy, prompted by Saint Lucia’s experience, and on AI, led by a presenter from the World Bank. The development banks continue to cement themselves as vital players in the socio-economic development of the ECCU. The Bank convened two consultative meetings with development banks during the review period. The first, in July 2024, featured presentations and discussions on the accessibility of concessional funding for sustainable development. The second meeting, convened in January 2025, focused on the dynamics and sustainability of the development banking mandate in the ECCU. The presentations and discussions were insightful and included the current regulatory and supervisory framework for development banks. Another feature of collaboration among the Bank and the member countries is through networking meetingswith stakeholders. During the consultative meetings with the ECCU Directors of Statistics in October 2024, member countries discussed a wide range of statistical topics including the advancement of the external sector statistics to the IMF Balance of Payments Manual; Seventh Edition (BPM7); Improving Data Management Using Standardised Data Templates; and Public Data Dissemination: Tips for Making Your Data Shine. All topics were well received and provided Consultative Meetings with the ECCU Directors of Statistics

the backdrop for improving the compilation and dissemination of statistics in the ECCU. International Monetary Fund 2025 ECCU Common Policies Consultation The IMF held its Annual Common Policies Consultation with the ECCB in January-February 2025. The Bank seized the opportunity to engage the IMF team on policy issues pertinent to the development of the ECCU member countries. The Fund’s Mission Team held discussions with the management and staff of several departments. The IMF noted the region’s recovery from recent exogenous shocks and the stable macroeconomic environment that the currency union arrangement brings to the region. The IMF also proposed policies geared building resilience and addressing structural issues, such as labour market rigidities. The Mission, as is customary, will lead a seminar later in the year to culminate its annual consultative process. The Bank focused on improving the compilation, analysis, and dissemination of external sector statistics for the ECCU, during the financial year. Outputs included the compilation of External Sector Statistics for 2023, the production of an estimate for 2024 and a forecast for 2025. As part of this effort, surveys were administered to regional and international organisations on behalf of ECCU member countries. In-countrycompilationmissions were conducted between July and November 2024, allowing for a more in-depth review of data sources Access Concluding Statement of the 2025 ECCU Mission on Common Policies for Member Countries. Support to Member Countries External Sector Statistics

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