PM Harris To Hand Over The Chair Of The ECCB Monetary Council After Active And Production Year

BASSETERRE, St. Kitts, July 22, 2021 (Press Unit in the Office of the Prime Minister) – Prime Minister of St. Kitts and Nevis, Dr. the Honourable Timothy Harris, will conclude his year-long stint as Chair of the Monetary Council of the Eastern Caribbean Central Bank (ECCB), on Friday, July 23.

After a very active and productive year at the helm of the body, Prime Minister Harris will transfer the chair to the Premier and Council Member for Montserrat, the Honourable Joseph Farrell during a live virtual ceremony.

Under Dr. Harris’ chairmanship, the Monetary Council’s primary focus was on the maintenance of financial stability of the Currency Union, accommodative actions to mitigate the financial impact of COVID-19 and special policy meetings on a range of matters such as renewable energy, tourism and digitalization which are important to the economic recovery of the Currency Union.

The Council Chair is rotated among the member countries in alphabetical order on an annual basis.

The 99th meeting of the Monetary Council will take place shortly after the handing over ceremony. At the meeting, Council members will receive the Governor’s Report on Money, Credit and Financial Conditions in the Eastern Caribbean Currency Union (ECCU).

The Monetary Council is the highest decision making authority of the ECCB and comprises the eight Ministers for Finance of the ECCU member countries: Anguilla, Antigua and Barbuda, The Commonwealth of Dominica, Grenada, Montserrat, St. Kitts and Nevis, Saint Lucia and St. Vincent and the Grenadines.

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