St Kitts and Nevis: Prime Minister Dr Terrance Drew attended a meeting with Director of International Monetary Fund (IMF) – Bo Li and his team. It was a productive meeting which was held on Thursday, Feb 15, 2024 ahead of the 107th Meeting of the Eastern Caribbean Central Bank (ECCB) Monetary Council.
They were conjoined by the Executive Director of IMF – Philip Jennings, Financial Secretary – Hilary Hazel and the Permanent Secretary in the Prime Minister Office – Naeemah Hazelle.
At the meeting, important strides were highlighted by the Prime Minister Drew, made by the Federation towards achieving the agenda of sustainable island state.
Various initiatives were discussed by the PM that included the implementation of good governance laws and renewable energy projects. It also included the advancements in water management, technological innovations and enhancements to the Citizenship by Investment program.
More efforts were made to bolster the tourism sector through increased flights, cruise ship visits and stayover tourism were emphasized.
At the gathering, PM Drew mentioned the objectives and said, “look at the long-term sustainability of the Federation, to diversify the economy so that we can build resilience against external shocks, create more opportunities for our citizens and foster inclusive growth that benefits all sectors of the society.”
He also expressed that they want to invest in initiatives that will transform St Kitts and Nevis. He said, “Our vision is to create a thriving and diversified economic landscape that not only enhances the global competitiveness but also ensures the well-being and prosperity of future generations.”
During the meeting, Director Bo Li eulogized the strong progress of St Kitts and Nevis that was made on climate adaptation and resilience building and reiterated that the IMF is committed to support ECCU member countries, which were considered through policy advice, technical assistance and lending.
The 107th Meeting of Monetary Council of the Eastern Caribbean Central Bank (ECCB) was observed on Friday, Feb 16, 2024 at the ECCB Campus in St Kitts and Nevis. The meeting was organized under the Chairmanship of the Camillo Gonsalves who is the Minister for Finance of St Vincent and the Grenadines.
The meeting was mainly focused on climate finance in a high-level engagement at the ECCB Headquarters. At the gathering the officials discussed about the Monetary Stability, Financial Stability, Fiscal and Debt Sustainability, Growth and Competitiveness, Financial Inclusion and about Greening the Financial Systems Initiative.
Date and Venue of the 108th Meeting of the Monetary Council was also discussed. The council agreed to organize the 108th meeting on Friday, July 26, 2024 in Anguilla.
