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
Eastern Caribbean Currency Union and the IMF
St. Kitts and Nevis: 2014 Article IV Consultation and the Seventh and Eighth Reviews Under the Stand-by Arrangement and Request for Waivers of Applicability and Nonobservance of Performance Criterion-Staff Report; Press Releases
March 27, 2014
Series: Country Report No. 14/86
Press Release: IMF Executive Board Completes Seventh and Eighth Reviews Under Stand-By Arrangement for St. Kitts and Nevis and Approves US$3.43 Million Disbursement
IMF Mission Reaches Staff-Level Agreement with Grenada on an Economic Program under the Extended Credit Facility
Regional Economic Outlook: Western Hemisphere
Growth in Latin America and the Caribbean (LAC) remains in low gear, reflecting a less supportive external environment and, in some cases, domestic supply-side constraints. The region's output is projected to expand by 2¾ percent in 2013, with domestic demand remaining the main driver. The growth rate is expected to edge up to 3 percent in 2014 as external demand strengthens gradually, but will remain below the average growth rate of the last decade. In countries with low inflation and anchored inflation expectations, monetary policy should be the first line of defense if downside risks to the baseline materialize. Fiscal consolidation remains appropriate for countries with tight capacity constraints or limited fiscal space; it will also help constrain the continued widening of current account deficits. Safeguarding financial stability is a key priority in an environment of tighter global financial conditions and increased asset price volatility.