Commonwealth of Dominica Holds Chairmanship of ECCB Monetary Council
The Honourable Dr Irving McIntyre, Council Member for the Commonwealth of Dominica, assumed the Chairmanship of the Monetary Council of the Eastern Caribbean Central Bank (ECCB) from the Honourable Gaston Browne, Outgoing Chairman and Council Member for A
The Honourable Dr Irving McIntyre, Council Member for the Commonwealth of Dominica, is the new Chairman of the ECCB Monetary Council.
The Monetary Council is the ECCB's highest decision-making body and comprises the Ministers responsible for Finance of the ECCB's eight member governments. The Chairmanship rotates annually, in alphabetical order, among the ECCB member countries: Anguilla, Antigua and Barbuda, the Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher (St Kitts) and Nevis, Saint Lucia, and Saint Vincent and the Grenadines.
Speaking at the Handing Over Ceremony, Honourable Dr. Irving McIntyre noted that climate change remains the defining existential challenge facing Small Island Developing States, as a single hurricane can erase decades of development in a matter of hours.
The Incoming Chairman said: “Across the region, the Monetary Council will continue to support the accelerated implementation of renewable energy projects under the Resilient Renewable Energy Infrastructure Investment Facility led by the Eastern Caribbean Central Bank, with financing from The World Bank, Canada, and the Green Climate Fund."
A highlight of the Ceremony was the unveiling of the new family of EC currency, commemorating the 50th anniversary of the EC dollar's fixed exchange rate (peg) to the United States dollar.
At its 105th Meeting on 21 July 2023, the Monetary Council approved the replacement of the image of the late Queen Elizabeth II on the EC currency and directed the ECCB to undertake public consultations. Those consultations, conducted between July and December 2023, confirmed strong public support for featuring national heroes and nation builders on the redesigned currency.
The Handing Over Ceremony was streamed live on the ECCB Connects Facebook page and YouTube channel.
Shermalon Kirby
Eastern Caribbean Central Bank
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