PRESS RELEASE – GOVERNOR of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine, recently made a presentation to Saint Lucia’s Cabinet of Ministers on “Transforming the ECCU Together”, which covered topics such as the global economy: prospects and risks, ECCB’s strategic approach and the current situation in the ECCU and Saint Lucia.
The ECCB reported that the global economy posted growth of 3.7 percent in 2017 and global growth projections for 2018 and 2019 have been revised upward to 3.9 percent.
Antoine noted that the outlook for the ECCU economy is generally positive but significant transformative reforms are required to elevate the current growth and employment trajectory.
The meeting also addressed issues such as the vulnerability of the region to natural disasters, external shocks and building resilience.
Prime Minister Allen Chastanet explained that the session was an opportunity for Cabinet to get re-acquainted with the ECCB’s plans for ECCU growth. Chastanet also stated that with Saint Lucia’s strategy for investment in 2018, the island is poised to continue to play a significant role in the development of the region.