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ECCB ANNUAL REPORT 2016/2017
MONETARY STABILITY
Macroeconomic Surveillance
The Bank will continue to improve its surveillance
framework to meet the evolving needs of its member
states amidst a changing global environment. This
will involve strengthening its human resource capacity
in the requisite areas, and in member countries,
through upgrading their diagnostic and forecasting
competencies to improve policy prescriptions.
Continuous improvements will be made to enhance
coordination between and among relevant policy-
making institutions by formalising the institutional
arrangements across the currency union. Furthermore,
strong technical capabilities will be developed through
frequent training programmes that improve data
interpretation and analysis, critical thinking and
problem solving skills.
The Bank will also:
•
•
Conduct meaningful and practical research
under three strategic priorities: financial
stability; fiscal and debt sustainability; and
growth, competitiveness, and employment;
•
•
Publish scholarly articles and reports on the
Bank’s website from the
ECCB Working Paper
Series
and the
Economic and Financial Review
;
•
•
Further its collaborations with regional and
international partners on applied research and
other projects;
•
•
Contribute to the
Caribbean Regional Financial
Stability Report
published by the Caribbean
Centre for Money and Finance;
•
•
Provide technical support to the member
governments in the preparation and monitoring
of financial programmes and debt sustainability
analysis geared toward fiscal stabilisation and
debt management;
•
•
Participate in technical missions to member
states and provide advice on policy matters
through the production of Policy Briefs and
Sector Briefs;
•
•
Assistmember governments intheirpreparation
for missions of international organisations, e.g.
the IMF and The World Bank, and participate
in these missions by providing back-up support
to the governments and technical advice to the
organisations;
•
•
Prepare joint reports for the member countries
using the Financial Programming and Debt
Sustainability Analysis Reporting Framework
and assist member countries in the preparation
and implementation of fiscal and debt
management programmes;
•
•
Collaborate
with
other
regional
and
international institutions, e.g. the CDB, IMF and
CARTAC on projects related to the economic
development of the member countries;
•
•
Monitor and analyse developments for the
ECCU, as a whole, in order to promote the
establishment of an OECS Economic Union; and
•
•
Contribute to the development of junior
economists in the region through the annual
internship programme in collaboration with
CARTAC and the University of the West Indies
and the De La Rue Programme.
Reserve Management
The Bank will work with The World Bank to accomplish
the following:
•
•
Upgrade the Investment Policy for management
of the Bank’s foreign reserves;
•
•
Examine the existing foreign reserve tranche
structure to determine the optimal tranche
structure for the Bank;