Loop News:
The Eastern Caribbean Central Bank (ECCB) says it has recorded a net loss of $54.5 million for the 2022 to 2023 financial year, a $5.4 million increase over the previous financial year.
The ECCB stated this in its published Annual Report and Financial Statements for the Financial Year ended March 31, 2023.
The ECCB said the deteriorated performance was largely driven by significant losses on foreign investment securities as interest rates in the United States rose dramatically from near zero over the financial year.
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Praise the Lord that we are small island states or else, heads would roll, no matter the reasons for the loss.
That’s a huge lost, almost the cost of the “boat” we’re trying to sell.
Bet the IMF in its prediction/projection, see the loss as perspective growth.
cunumunu, the figures stated here are in Eastern Caribbean Dollars. The price of the boat is in UNITED STATES DOLLARS. How then can it be even close to the sale’s price of the boat?
You all are tiring me.
Ok then, we will have to sideline the ECCB loss for now…
The primary objective of the ECCB is to maintain the stability of the Eastern Caribbean Currency and the integrity of the banking system.
The bank is owned by the eight member governments of the Eastern Caribbean Curren
What is the largest bank in the Caribbean?
The main financial institution is the Eastern Caribbean Central Bank.
https://www.eccb-centralbank.org/p/roles-and-functions
@sideline
Do you think we need a reshuffling at the institution?
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