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4
ECCB ANNUAL REPORT 2016/2017
Financial Stability
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Operationalisation of the Eastern Caribbean
Asset Management Corporation (ECAMC);
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Amendments to the Banking Act;
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•
Publication of a Financial Stability Report;
•
•
Completion of preparatory work for the Eastern
Caribbean Appraisal Institute; and
•
•
Completion of preparatory work for a Deposit
Insurance Scheme.
Fiscal and Debt Sustainability
•
•
Setting of interim fiscal and debt targets by
member governments in pursuit of a target of
60.0 per cent Debt-GDP by 2030; and
•
•
Wider acceptance and commencement of the
adoption of fiscal responsibility legislation.
Growth, Competitiveness and Employment
•
•
Raising the growth trajectory from 2.2 per cent
in 2016 to 3.0 per cent in 2017, towards a 5.0 per
cent per annum;
•
•
Enactment of the enabling legislation for the
Eastern Caribbean Partial Credit Guarantee
Corporation;
•
•
Enactment of the enabling legislation for the
ECCU Credit Bureau; and
•
•
Implementation of the Action Plan emanating
from the ECCU Growth Dialogue.
Enhancing Organisational Effectiveness
•
•
Revision of the ECCB’s Foreign Reserve
Management Framework;
•
•
Launch and implementation of the Bank’s
Strategic Plan;
•
•
Leadership development of the Bank’s senior
leaders;
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•
Up-skilling of all staff;
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•
Launch of a new and improved website; and
•
•
Greening of the ECCB Campus.
Given the breathtaking pace of change in the global
financial landscape, the ECCB intends to be agile and
responsive. In this regard, the Bank will focus more
on payment systems reforms including, FinTech and
its implications, not just for regulation, but for the
development of ECCB member countries.
Without doubt, these are challenging, but exciting
times.
I recognise the Deputy Governor, Managing Director
(retired and acting), management and staff for their
hard work and support undergirded by our S.T.A.R.
mantra.
I thank Mrs. Jennifer Nero, retired Managing Director
for her 22 years of yeoman service and extend my best
wishes to her for a happy retirement.
I am compelled also to record my appreciation of the
Monetary Council and the Board of Directors for their
support in this new era.
Timothy N. J. Antoine
GOVERNOR