Eastern Caribbean Central Bank 2024-2025 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2024 - 2025

Areas of Focus 2025-2026

Compliance During the upcoming financial year 2025/2026, the Bank expects to implement an automated Policy Management Solution to aid efficiency. In addition, other compliance functions will be integrated in the Bank’s Governance risk and Compliance solution. A detailed action plan was completed for the implementation of the ECCB Compliance Function and is being actioned. Data Management Lookingahead, theBankaimstobuildontheprogress made in the 2024/2025 financial year by focusing on key strategic priorities. Efforts to enhance data collection and quality will continue. This will involve deepening engagement with member countries and refining survey methodologies to improve coverage of trade in services and financial flows. Additionally, the ECCB will continue working towards the implementation of the Balance of Payments Manual (BPM7) standards to ensure compliance with evolving international statistical frameworks. In financial year 2025/2026, the ECCB will resume national accounts compilation and reviewmissions to the member countries aimed at providing much needed technical support to the compilation process so that historical and forecasted data can be released on time. Further collaboration with country teams to discuss the GDP estimates and forecasts will remain as the views of the member countries are a crucial component of the process. The ECCB will also seek other avenues to compile the GDP forecasts in a more timely manner and expand the GDP compilation into other statistical

areas.

During the 2025/2026 financial year, the Bank will be involved in enhancing its research output as well as the skills of its research and statistics staff members. Capacity building and training will remain a priority, with ongoing training sessions on the use of available software tools at the ECCB. The Bank will also continue to support staff in the execution of surveys, ensuring that survey data is collected and analysed efficiently. Staff Development A new Lunch and Learn initiative will be introduced to support staff development. This initiative will provide opportunities for staff to learn about key data-related topics in a more informal setting, fostering a culture of continuous learning and knowledge sharing within the organisation. In the upcoming year, attention will also be directed toward leveraging technology to enhance processes and participation, with a key focus on implementing a new Human Resource Information System (HRIS) as part of the ECCB’s Enterprise Resource Planning (ERP) initiative—Project BOOST. Attention will also be given to policy review and development in the areas of increments; transfers and promotions; secondment and succession. Additionally, training focus areas will include, Artificial Intelligence, Data Analytics and Communication.

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