ECCB Chairman to Address the Region

“Strengthening Our Currency Union and Securing Our Future” is the focus of a special address to Grenadians and citizens in other territories which use the Eastern Caribbean currency.

Chairman of the Eastern Caribbean Central Bank Monetary Council, Dr the Hon. Ralph Gonsalves, will address the citizens and residents of the Eastern Caribbean Currency Union (ECCU) via radio and television tonight, 14 April, on matters pertaining to the banking and financial sector.

“The address will focus on the recent decisions taken by the Monetary Council which are aimed at improving the socio-economic well-being of the people of the ECCU; protecting the people’s savings; maintaining the stability of the region’s commercial banks; stimulating economic growth and strengthening the ECCU financial system,” said a release from the ECCB.

Recently the Monetary Council agreed to reduce the savings deposit interest rate to 2% and only last week news broke that as of July 2015, the Eastern Caribbean Central Bank (ECCB) will be getting rid of 1¢ and 2¢ coins.

The Monetary Council is the highest decision-making body of the ECCB. It consists of the Minister of Finance from each member country: Anguilla, Antigua and Barbuda, the Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia, and St Vincent and The Grenadines.

The Council Chairman’s address will be aired at 8 pm on GBN TV, Klassic 105.5 FM, WeeFM radio, and Sister Isle Radio.

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