The One Hundred and Tenth (110th) Meeting of the Monetary Council of the Eastern Caribbean Central Bank (ECCB) was held at the Eastern Caribbean Central Bank in Saint Christopher (St Kitts) and Nevis on 14 February 2025.
The Monetary Council welcomed back its newest member, Premier Reuben Meade of Montserrat.
The meeting said growth in the ECCU continued to be propelled by Tourism and domestic-related construction activity in 2024. This trend is expected to continue in 2025. Despite some improvements, there is still need for more regional action to address the high cost and inconvenience of intra-regional air connectivity.
The current situation is a major constraint to trade and faster growth and is inimical to the Big Push.
The Monetary Council, on the recommendation of the ECCB, approved an allocation of $25 million for a food and nutrition security programme in the ECCU from ECCB’s Fiscal Tranche II account.
This funding will support the efforts of ECCU member countries as they strive to reduce the food import bill by 25 per cent.