AGP Executive Report
Last update: 9 minutes agoECCB Leadership & Monetary Policy: Dominica’s Finance Minister Dr. Irving McIntyre took over as chair of the ECCB Monetary Council, pledging stability for the ECCU’s 650,000-plus people. The Council kept savings and discount rates unchanged and reaffirmed the EC dollar’s fixed exchange rate, supported by EC$5.9bn in reserves. Payments & Inclusion: ECCB updated progress on instant cross-border payments via the CAPSS pilot and a 24/7 Fast Payment System, alongside expansion of the ECCU First Step Savings Account through at least 17 licensed institutions. Food Security Funding: The Monetary Council approved an extra EC$25m grant (total EC$50m) to strengthen food and nutrition security and reduce reliance on imports. CBI Oversight & EU Pressure: Eastern Caribbean leaders met in Dominica to coordinate a response to the EU’s revised visa suspension mechanism tied to Citizenship by Investment, agreeing to a high-level Brussels mission and pointing to stronger due diligence, transparency, and the ECCIRA regulator set for a September 2026 launch. Regional Diplomacy & Security: The OAS said Dominica’s Ambassador Steve Ferrol assumed chair of the Permanent Council, while the US DHS signed a biometric data-sharing cooperation framework with CARICOM IMPACS to bolster border security and immigration vetting. Local Disruption: DOMLEC reported an island-wide power outage and began incremental restoration to affected communities.
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