ECCB 2015/2016 Annual Report

EASTERN CARIBBEAN CENTRAL BANK

OECS Business Council: Back Row L-R: Head of OECS Commission’s Export Development Unit - Vincent Philbert; Anguilla Director - Carlton Pickering; Montserrat Director - Norman Cassell; Commonwealth of Dominica Director - Achille Joseph; St Vincent and the Grenadines Director - Anthony Regisford. Seated L-R: Antigua and Barbuda Director - Julianne Jarvis; Then Governor of the ECCB - Hon Sir K Dwight Venner; President and Saint Lucia Director - Gordon Charles; Director General, OECS Commission - Dr Didacus Jules; Grenada Director - Aine Brathwaite

with the OECS Secretariat, the ECCB and other relevant technical regional organisations; and 6. To become a financially sustainable entity.

The following papers were initiated and/or completed during the period, to inform policy discussions by the Bank’s management, the Board of Directors, and the Monetary Council: a. Assessing Fiscal Convergence in the ECCU; b. Contingent Liability in the ECCU: A Case for a Fiscal Risk Management Framework for Member Governments; c. Aligning the ECCU Financial System with Private Sector Growth – A Financing Architecture for Growth-Oriented Firms; d. Policies for Engendering a More Dynamic Private Sector in the ECCU; e. Conditions for a Sustainable Manufacturing Sector in the ECCU: Beyond Fiscal Incentives; f. Making Fiscal Policy Credible – A Case Study of Antigua and Barbuda;

THE BASIS OF POLICY

R esearch The research programme for 2015/2016 was centered on the Bank’s four main policy themes: • Monetary Policy in a Quasi-Currency Board; • Financial Stability; • Fiscal and Debt Sustainability; and • Growth and Development.

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ECCB A nnual R eport 2015/2016