Prime Minister the Hon. Gaston Browne is this weekend in Saint Christopher (St. Kitts) and Nevis for the One Hundred and Fourth (104th) Meeting of the Monetary Council of the Eastern Caribbean Central Bank and the U.S. – Caribbean Citizenship by Investment Roundtable.
Prime Minister Browne stated that high on the agenda was the state of the monetary, financial and credit conditions in the Eastern Caribbean Currency Union (ECCU) and noted that the financial system stability which was brought forward from 2021 continued in 2022. He also pointed out that the meeting concluded that the banking system across the Union remained in a ‘stable condition with ample levels of liquidity and strong levels of capital.’
The Meeting also commended Antigua and Barbuda and Grenada for having passed all of the critical legislation required for uniform financial legislation within the ECCU.
Prime Minister Browne also pointed out that the meeting addressed the BAICO and CLICO issues and the grouping received an update from the BAICO Judicial Manager to deliver an additional payout to BAICO policyholders. It was also stated that there are efforts to secure funds from the Government of Barbados to make a payment to CLICO policyholders.
Prime Minister Browne also commended Antigua and Barbuda’s Dr Vincent Richards who was appointed as the new Deputy Chairman of the Eastern Caribbean Securities Regulatory Commission ECSRC.
Newly appointed Financial Secretary, Rasona Davis Crump accompanied Prime Minister Browne to the Council Meeting. The next meeting will be held in Saint Vincent and the Grenadines on July 21 under the Chairmanship of the Hon. Camillo Gonsalves, Minister for Finance of Saint Vincent and the Grenadines.
On Saturday 25th February, Prime Minister Browne will participate in a U.S. Caribbean Citizenship by Investment Roundtable with the United States Department of the Treasury.
Prime Minister Browne, who is accompanied by the CEO of the country’s Citizenship by Investment Unit, Charmaine Donovan, said that the purpose of the meeting is to address ways to strengthen risk mitigation in CBI programmes and collaborate with the United States to combat illicit financing.
During the Roundtable, Antigua and Barbuda will highlight typologies training sessions for local agents as one of the Unit’s best practices.
Prime Minister Browne returns to Antigua and Barbuda on Saturday evening.