The Eastern Caribbean Central Bank (ECCB) is celebrating 40 years of maintaining the monetary and financial stability and promoting growth and development in the Eastern Caribbean Currency Union (ECCU).
This milestone is marked under the theme: ECCB@40, A Year of Reflection, Celebration and Implementation.
As part of the anniversary celebrations, ECCB special guests, including the Governor General of Saint Christopher (St Kitts) and Nevis, Her Excellency Dame Marcella A Liburd and the Honourable Prime Minister of Saint Christopher (St Kitts) and Nevis and ECCB Monetary Council Member, Dr Terrance M Drew; management; staff; retirees and well-wishers of the ECCB joined the congregation at the Antioch Baptist Church, St Kitts, on 1 October for divine worship.
In his address delivered during the service, the Governor of the ECCB, Timothy N. J. Antoine said that 40 years ago, a tiny seed was planted and over the years had become a mighty tree called the ECCB.
Governor Antoine noted in his reflection on the ECCB’s achievements over the past 40 years, that God has been good to the ECCB. He expressed total praise and gratitude for the grace and goodness of God for guiding the Bank through hurricanes, volcanic eruptions, recession, inflation, and the recent pandemic.
The ECCB Governor paid tribute to the founders who signed the ECCB Agreement in 1983 and the early builders – retired Governors, Deputy Governors and Senior Managers – and acknowledged the work of all past and present staff, who helped to build the ECCB. He also recognised the contribution of their families, whom he said provided the much-needed emotional support.
Governor Antoine lauded the strength of the EC Dollar, which he said has remained strong and stable for the past 40 years. He said the stability of the EC dollar provides confidence, certainty and continuity to the people of the currency union. He added that this feat should be cherished and not be taken for granted, emphasising that there were countries whose currencies did not enjoy that level of stability.
The ECCB was established on 1 October 1983 as the monetary authority for its eight-member countries: Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher (St Kitts) and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. The Bank’s primary objective is to maintain the stability of the EC currency and the integrity of the ECCU banking system.