Eastern Caribbean Currency Union: 2007 Discussion on Common Policies of Member Countries: Staff Report; and Public Information Notice on the Executive Board Discussion
Volume/Issue:
Volume 2008
Issue 094
Publication date: March 2008
ISBN: 9781451811711
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Industries - Hospitality Travel and Tourism , ISCR , CR , ECCU country , OECS-Education Development Project , GDP , debt , banking system , CARTAC consultant , core area , current account , U , S , dollar , Public sector , Commercial banks , Tourism , Credit , Caribbean
Summary
Over the last decade, the Eastern Caribbean Currency Union (ECCU) macroeconomic performance has deteriorated relative to the rest of the Caribbean. Tourism accounts for three-fifths of exports, and the import content of consumption and investment is high. The ECCB-operated quasi-currency board arrangement (CBA) has continued to deliver price and exchange rate stability. The region has strong social indicators, but poverty, health, and crime remain concerns. Despite the implementation of ambitious revenue reforms, limited progress has been made toward fiscal consolidation. Credit has continued to expand rapidly.
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