PM Douglas heads for St. Lucia for meeting with World Bank

St. Kitts and Nevis Prime Minister and Minister of Finance (photo by Erasmus Williams)

BASSETERRE, ST. KITTS, SEPTEMBER 30TH 2010 (CUOPM) – St. Kitts and Nevis’ Prime Minister joins Heads of Government of the Organisation of Eastern Caribbean States (OECS) and the Eastern Caribbean Central Bank (ECCB) Monetary Council in St. Lucia for discussions on the growth prospects of the OECS in light of the international financial crisis.

The high-level meeting with senior officials of the World Bank will also be held on Friday October 1 and will follow the Fourth Joint Meeting of the OECS Authority and the ECCB Monetary Council on September 30.

Counterparts are expected to discuss viable means of stimulating sustainable growth in the Eastern Caribbean Currency Union ECCU/OECS.

Since January 2009, the member countries of the ECCU have held a number of strategic meetings to engage in an in-depth assessment of the impact of the global financial and economic crisis on member countries and to discuss strategies in response to the crisis.

The establishment of an Economic Union provides a fundamental platform for the development of a growth strategy that is aligned with the Eastern Caribbean Currency Union Eight Point Stabilisation and Growth Programme.

In light of the financial crisis, roundtable consultations have been scheduled to discuss growth prospects in the OECS.

Recognising the importance of engaging development partners and international financial institutions in the adjustment process and within the context of the recently approved Regional Partnership Strategy that seeks to support economic stability, competitiveness, and inclusive and sustained growth within the OECS, the Heads of Government of the OECS and the ECCB Monetary Council have scheduled these consultations.

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