Eastern Caribbean Currency Union (ECCU)
This web page provides information about the work of the IMF in the ECCU and its member countries Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines, as well the activities of the Regional Representative Office.
At a Glance : Eastern Caribbean Currency Union (ECCU) countries
- Antigua and Barbuda joined the Fund in February 25, 1982. The IMF Executive Board completed the Second and Third Review under the Stand-by arrangement on March 30, 2011
- Dominica joined the Fund on December 12, 1978
- Grenada joined the Fund on August 27, 1975.
- St. Kitts and Nevis joined the Fund on August 15, 1984
- St. Lucia joined the Fund on November 15, 1979. The IMF Executive Board approved US$8 million in Emergency Assistance for St. Lucia on January 12, 2011.
- St. Vincent and the Grenadines joined the Fund on December 28, 1979. IMF Executive Board Approves US$3.26 Million Disbursement Under Rapid Credit Facility on February 28, 2011
- Anguilla and Montserrat are UK territories. Since 2009, the IMF includes the two territories in its regional policy consultation discussion. In addition, in 2011 the IMF staff will have bilateral discussions with Anguilla and Montserrat.
- Eastern Caribbean Currency Union. As in the case of the other three monetary unions in the world, since 2002 the IMF holds formal regional consultations with the ECCU.
News and Highlights
IMF Executive Board Concludes 2014 Discussion on Common Policies of Member Countries of the Eastern Caribbean Currency Union
IMF Executive Board Concludes Macroeconomic Issues in Small States and Implications for Fund Engagement
Eastern Caribbean Currency Union and the IMF
Grenada: Second Review Under the Extended Credit Facility, Request for a Waiver of a Performance Criterion, Request for Modification of Performance Criteria and Financing Assurances Review-Press Release; and Staff Report
July 20, 2015
Series: Country Report No. 15/193
Antigua and Barbuda: Staff Report for the 2014 Article IV Consultation and Second Post-Program Monitoring-Press Release; and Staff Report
July 17, 2015
Series: Country Report No. 15/189
Press Release: IMF Executive Board Completes Second Review Under the ECF Arrangement for Grenada, and Approves US$2.8 Million Disbursement
Regional Economic Outlook: Western Hemisphere
The economic outlook for Latin America and the Caribbean remains very challenging. Regional growth is projected to decline for a fifth consecutive year in 2015, dipping below 1 percent. Weakness is concentrated among South America's commodity exporters, where falling global commodity prices have compounded country-specific challenges. Meanwhile, growth is projected to be steady or stronger for most of the Caribbean, Central America, and Mexico, supported by lower oil bills for importers and robust economic recovery in the United States. The analysis in this report examines core challenges facing the region: the impact of lower commodity prices on fiscal and external positions, the drivers of the slowdown in investment, and the role of economic diversification for longer-term growth prospects.