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, St. Vincent and the Grenadines, and Anguilla and Montserrat, 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 Macroeconomic Issues in Small States and Implications for Fund Engagement
Conference in Trinidad & Tobago – Rethinking Policy to Address Low Growth and High Debt in the Caribbean
The International Monetary Fund (IMF) mission headed by Hunter Monroe, Senior Economist in the IMF’s Western Hemisphere Department, issued the following statement on Friday, July 29, 2011 at the end of its discussions in Anguilla:
Eastern Caribbean Currency Union and the IMF
Press Release: IMF Executive Board Completes Eighth and Ninth Reviews Under Stand-by Arrangement for Antigua and Barbuda and Approves US$10.162 Million Disbursement
Antigua and Barbuda: Staff Report for the 2012 Article IV Consultation, Seventh Review under the Stand-By Arrangement and Financing Assurances Review, Request for Waiver of Nonobservance of Performance Criterion and Request for Waiver of Applicability
March 22, 2013
Series: Country Report No. 13/76
Regional Economic Outlook: Western Hemisphere
Growth in Latin America is set to pick up to about 3½ percent in 2013, broadly in line with potential. The region continues to benefit from favorable external financing conditions and relatively high commodity prices, but these tailwinds are unlikely to last forever. The key challenges for policymakers today are preserving macroeconomic and financial stability, and building strong foundations for sustained growth in the future. More prudent fiscal policy would help ease pressure on capacity constraints, mitigate the widening of current account deficits, and prepare the economies better to deal with adverse external shocks. Exchange rate flexibility and prudential measures should continue to be used to discourage speculative capital flows. Sustaining strong output growth will require structural reforms to raise productivity growth.