AGP Executive Report
Last update: 11 hours agoCARICOM & CBI: CARICOM chair Philip J. Pierre says CBI wasn’t collectively discussed at the July 5–8 heads meeting in St. Lucia, arguing the issue mainly affects the five active CBI states and that each country controls its domestic policy. OECS EU Response: OECS leaders met in Dominica and agreed on a coordinated pushback to the EU’s revised visa suspension mechanism, including a high-level Brussels mission to explain the development role of CBI and seek practical solutions. ECCB Rates & Outlook: The ECCB Monetary Council kept savings (2%), discount (3%) and long-term discount (4.5%) rates unchanged, reaffirming the EC dollar’s fixed peg and warning global uncertainty could weigh on tourism and growth. Payments Modernisation: Progress updates were shared on CAPSS for instant cross-border payments in local currencies and a 24/7 fast payment system to boost financial inclusion. CBI Regulator On Track: ECCB says the regional CBI regulator, ECCIRA, remains on schedule for a September 2026 launch. Big Push Growth Plan: PM Gaston Browne backed the “Big Push” goal to double ECCU economic size over seven years, using targeted investment and a small share of reserves. Currency Redesign: ECCB unveiled new EC banknotes replacing Queen Elizabeth II with regional heroes, including Sir Robert Llewellyn Bradshaw on the EC$50; Dominica’s Finance Minister Irving McIntyre took over as Monetary Council chair. Local Utilities: DOMLEC reported restoring power incrementally after an island-wide outage, while also investigating the cause.
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