Douglas Attends Monetary Meeting In Anguilla

Basseterre, St. Kitts – Nevis – July 22nd 2007 (CUOPM)

St. Kitts and Nevis‘ Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas is in Anguilla attending Friday’s 59th Meeting of the Monetary Council of the Eastern Caribbean Central Bank (ECCB).

The meeting at the Paradise Beach Resort began with the handing over of the Chairmanship of the Council from St. Vincent and the Grenadines Prime Minister and Minister of Finance, Dr. the Hon. Ralph Gonsalves to the Minister of Finance of Anguilla, the Hon. Victor Banks.

The Ministers of Finance received an update on Capital Bank International Limited; Transportation and Distribution Company; the Institute of Management, Productivity, Research and Development; Uniform Financial Legislation for the Eastern Caribbean Currency Union (ECCU) and Fiscal Benchmarks.

Governor of the Eastern Caribbean Central Bank Sir K. Dwight Venner will report to the Monetary Council on Monetary and Credit Conditions and will submit the relevant supporting documents including Policy Framework and Data Issues; Enhancing the Regulatory and Supervisory Framework in the ECCU Financial System; the Structure of bank Fees and Charges and an update on Money and Capital markets.

The Monetary Council will also be asked to ratify for approval a Profit Distribution Policy and the appointment as Governor/Alternate Governor to the International Monetary Fund (IMF) for St. Lucia.

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