The Minister of Finance, Climate Resilience, Economic Development and Social Security of the Commonwealth of Dominica, Dr Irving McIntyre, have taken part in the ongoing 104th Meeting of the Monetary Council of the Eastern Caribbean Central Bank (ECCB), which was hosted at Headquarters of Bank in St Kitts and Nevis on February 24, 2023.
The Government of Dominica has made the following report by taking it to their official social media handle, which mentioned that, “Dr Irving McIntyre reached the neighbouring nation on February 24, 2023, and taken part in the 104th Meeting of the ECCB Monetary Council at the ECCB Headquarters in St Kitts & Nevis.
As per the update shared by the Eastern Caribbean Central Bank (ECCB), during the meeting, they received the Report on Monetary and Credit Conditions from the Governor of the Eastern Caribbean Currency Union (ECCU). The report has outlined the data between the months of January and December, 2022.
As per the ECCB, the report was entitled as, “A BIG Push… For Resilience, Innovation, Inclusion and Transformation”, and the major focus of it was the recent economic recovery, at both global level as well as within the ECCU, as well as the impact that has grown uncertainty in the global environment is having on this recovery.
The report indicated that the worldwide growth forecast by the International Monetary Fund (IMF) for 2023 had been revised upward by 0.2 of a percentage point to 2.9 percent; in the month of October last year, the IMF had projected 2.7 percent global growth for the recent year. This is below the 2000-2019 average of 3.8 per cent.
The conclusion of the meeting also informed that the next meeting, i.e. 105th Meeting of the Monetary Council, will be held in St Vincent and the Grenadines on July 21, 2023 (Friday). The meeting will be headed by Minister of Finance Camillo Gonsalves, who will take up the chairmanship of the Monetary Council.