IMF Representatives Pay Courtesy Visit to the OECS Commission
Hence, the meeting focused on 10 matters, inter alia:
- the mobilisation of financial resources to support economies of the OECS Member States which have been impacted by hurricane Maria;
- the work accomplished by the financial and economic development bodies of the Organisation, and the collaboration between the Eastern Caribbean Central Bank and the Economic Affairs Council of the OECS;
- the harmonisation of Citizenship By Investment (CBI) Programmes of multiple OECS Member States in order to converge towards a regional approach;
- the creation of an emergency resilience fund in the event of natural disasters;
- the mobilisation of local financial resources and the banking union;
- the development of a diasporic investment regime at the regional level which aims to facilitate financial flows coming from the OECS Nationals who reside overseas, and which contribute to the economic development of their home countries;
- the revitalisation of the OECS stock market;
- the shareholding model of LIAT;
- fiscal policies and tax incentives to foster intra-regional trade; and
- the development of digital currencies in the OECS space.
In closing, the Director General of the OECS highlighted the importance of a closer collaboration between both entities, especially in light of the publication of reports which provide an analysis of the economies of the OECS Member States.
Dr. Jules also indicated that these matters will be further discussed with the Heads of Governments of the OECS and ratified at the next OECS Authority meeting which should be held by the first quarter of 2020.