CLICK HERE TO JOIN OUR WHAT’S APP GROUP
Today, Wednesday, 1 October, marks the 42nd anniversary of the Eastern Caribbean Central Bank (ECCB).
In observance of this milestone, ECCB management, staff, retirees, their families, stakeholders, well-wishers, and members of the community worshipped with Pastor Leroy Matthew and members of the People’s Evangelistic Centre on Sunday, 28 September in a shared expression of gratitude for the Bank’s four decades of dedicated service to the governments and people of the Eastern Caribbean Currency Union (ECCU).
Praising the stability of the EC currency, which has been pegged to the U.S. dollar since 7 July 1976 at EC$2.70=US$1.00, Pastor Matthew expressed gratitude for the Bank’s steadfast service and leadership within the ECCU.
Governor Timothy N.J. Antoine, in his address during the service, gave thanks for God’s continued grace over the Bank’s journey.
He reaffirmed the strength of the EC dollar—backed by nearly 99.0 per cent foreign reserves—and underscored the ECCB’s unwavering commitment to maintaining financial stability across the region.
The Governor paid tribute to the visionaries and pioneers of the ECCB, including:
- The Rt. Excellent and Rt. Honourable Dr Sir Kennedy Simmonds, the sole surviving signatory of the ECCB Agreement;
- Sir Cecil Jacobs, the Bank’s first Governor;
- Sir K Dwight Venner, its second and longest-serving Governor; and
- Sir Errol Allen, the first and longest-serving Deputy Governor.
Governor Antoine also voiced deep appreciation to all those—past and present—who have contributed to the Bank’s mission and legacy.
In a special moment, the Governor also addressed the children in the congregation, explaining the ECCB’s vital role in everyday life: from supervising and regulating financial institutions, issuing the EC dollar, and protecting deposits, to safeguarding the financial system in the eight ECCB member countries.
He encouraged children and adults to value the importance of ECCB’s work and to pray for the institution—its Monetary Council, Board of Directors, and the 306 dedicated staff serving across the Currency Union.
The Governor also highlighted that ECCB’s anniversary coincides with Financial Information Month (FIM) Festival, a regional initiative that promotes financial literacy and empowerment guided by the theme: Financial Empowerment Through Education.
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
CLICK HERE TO JOIN OUR WHAT’S APP GROUP
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
Many of the citizens of the ECCU do not really understand and grasp what a treasure we have in this institution. And institution that has shielded us year after year from the World’s Financial Shocks such as the Financial Meltdown in 2008, which crippled the entire world. ECCU members’ states didn’t loose a dime. Accept those with funds invested in the US Stock Market. We are protected from the ups and downs of the exchange rate because of our one sided pegging to the US Dollar. Covid came and shocked he entire world, closing countries for month from doing any external trade. Yet the ECCU members and their citizens monies in the bank didn’t lose a percentage in value. Yes inflation hit every island differently depending on it’s own output and dependency on imported goods. All becasue most of our inflation is imported. We kept the wheel of Tourism going, which is the largest earner of Foreign Exchange for all the member states. We should remember Antigua use to be the front runner in earning US Dollars because our early shift into the tourism industry. Lester used to say that their bananas could not support the US Dollar pegging. So they were living on our Foreign Exchange Dollars. Anyway The People of the Currency Union need to be educated more and understand what a great instituition we have here and it is a trail blazer in the world. Many countries do not want to give up their souvereinity of regulating their own currency. That is why England could not stay in the EU and adapt the Euro and one single currency. And eventhough it have been implemented now for years in the other large economies of Europe, it still continue to show up it’s ugly head of division. I remember especially when the financial crisis crippled the Greece economy, and threatened to bring down the value of the Euro. Greece was forgiven billions of dollars in debt and was place on an IMF program. You think we could be forgiven a few hundred of millions of dollars so we could reset. Oh no. But that is the way of the world. No reparation and no debt forgiveness. And one should understand we did pay back more then enough in high Interest on these loans. So infact these loans should be written off. Anyway I want to congratulate the ECCB and the ECCU for the foresight they had to esytablish this great financial institution. My advise is to please educate our children about this institution. The need to understand the value of it in our daily life. I have a credit card and can travel ALL OEVR THE WORLD and spend money without concern about our currency. Not many citizens from other countries can do such a thing. They will have to travel with cash. And mostly US Dollars in cash. because their banks,(Central Bank) doesn’t have the backing of the USDollars. Looking at the future I trust the ECCB will get ready to have Digital Currency for us to pay our bills as well. Given that some countries are avoiding trading in US Dollars.
Once again congratualation to the ECCB and ECCU.