Business

St Vincent PM to take over ECCB chair

Friday, July 25, 2014    

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CASTRIES, St Lucia, (CMC) — St Vincent and the Grenadines Prime Minister Ralph Gonsalves will today take over the chairmanship of the Monetary Council of the Eastern Caribbean Central Bank (ECCB) when the bank convenes its annual general meeting.

The chair will be transferred to Gonsalves during the official handing-over ceremony in St Vincent and the Grenadines.

Gonsalves will succeed outgoing chairman, Prime Minister Dr Kenny Anthony of St Lucia.

Chairmanship of the council is rotated alphabetically each year among the eight ECCB member countries.

Following the handing-over ceremony, the council will convene its 79th meeting where it will receive the ECCB governor's report on money and credit conditions in the Eastern Caribbean Currency Union.

Upon conclusion of the meeting, the newly appointed chairman will present the communiqué and, along with the other members of the council, will field questions from media representatives.

The Monetary Council is the highest decision-making authority of the ECCB and comprises the eight finance ministers of the ECCB member governments.

The membership comprises Anguilla, Antigua and Barbuda, the Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines.

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