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ECCB ANNUAL REPORT 2016/2017
and practices to ensure sustainability and relevance.
This led to the Bank becoming a member of The
World Bank’s Reserves Advisory and Management
Programme (RAMP). Access to this programme is
expected to strengthen the Bank’s Foreign Reserves
Management Framework.
An important element of central banks’ operational
effectiveness is having an effective communication
strategy that could be used as a tool to help influence
financial markets. Significant progress was made in
this regard through the launch of some initiatives
and reorganisation of traditional programmes. A
weekly video programme:
“ECCB Connects”
was
launched and the Governor engaged a cross-section
of stakeholders in member states in his informational
sharing, outreach visits. Flagship programmes such
as the OECS Essay Competition, the ECCU Primary
School Mentorship Programme, the Sir Arthur Lewis
Memorial Lecture, Financial Information Month
and the Annual Conference with Commercial Banks,
continued to provide platforms for the Bank to
disseminate information, support communities and
influence thought at all levels.
Central banks are complex public institutions which
play a major role in the economic and financial
management of all modern economies. Some of
the primary functions performed include, inter alia;
the execution of monetary policy, the promotion
and maintenance of financial sector stability and
management of a country’s foreign reserves. The
ECCB was successful in delivering on those mandates
during the financial year. The development and
implementation of the Strategic Plan will provide the
foundation for ensuring that the Bank remain relevant
while developing its capacity to confront challenges in
the execution of its mandate.