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Feature Article

Presentation on ECCB 2008/2009 Annual Report

July 2, 2009

29 June 2009

 

Good evening fellow citizens of the Eastern Caribbean Currency Union.

I present to you in keeping with the transparency and accountability requirements of the Eastern Caribbean Central Bank Agreement Act 1983, a report on the Bank's performance for the financial year 2008/2009 and an assessment of the economy as we look forward to 2009/2010.

We are living in the best of times and the worst of times. 

There have been very significant improvements in economic and social welfare over the last three decades.  However, the global economy of which we are a part, has been beset by one of the deepest recessions since the Great Depression of 1929 to 1933.  This has affected all of the nations of the international community to a greater or lesser degree, but the small and vulnerable countries, such as ours could be the most severely affected.

This situation could however present the opportunity for restructuring and transforming our economies which are experiencing continuous decreases in output and productivity.

Against this background, my comments will be presented in three parts:

1.         The performance of the Eastern Caribbean Central Bank (ECCB) for the year 2008/2009;

2.         The current economic environment and the major challenges facing the Eastern Caribbean Currency Union (ECCU); and

3.         The response by the Currency Union Authorities to these challenges.

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Editorial

Editorial

May 1, 2009
  Spring is here again and with it comes the approach of the hurricane season. Issues of climate change are absorbing all of us worldwide and especially for those of us living in small island states the issue of rising sea levels is particularly pertinent.  Recently the United Nations Commissions for Latin America and the Caribbean (UNECLAC) held an assessment of climate change on the Federation and what actions were being taken to mitigate the effects of such change. This wide ranging workshop looked at many aspects of the environment and what steps were being taken to manage our natural environment.                This past few months have also seen the return of the Turtle nesting season, and our friends at the Turtle Monitoring Network has had a very busy season, with beach clean-ups in preparation for the annual hawksbill and leatherback turtle nesting, they have reported a good number of nest sites so far.

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Business & Tech

Presentation on ECCB 2008/2009 Annual Report

July 2, 2009
29 June 2009   Good evening fellow citizens of the Eastern Caribbean Currency Union. I present to you in keeping with the transparency and accountability requirements of the Eastern Caribbean Central Bank Agreement Act 1983, a report on the Bank's performance for the financial year 2008/2009 and an assessment of the economy as we look forward to 2009/2010. We are living in the best of times and the worst of times.  There have been very significant improvements in economic and social welfare over the last three decades.  However, the global economy of which we are a part, has been beset by one of the deepest recessions since the Great Depression of 1929 to 1933.  This has affected all of the nations of the international community to a greater or lesser degree, but the small and vulnerable countries, such as ours could be the most severely affected. This situation could however present the opportunity for restructuring and transforming our economies which are experiencing continuous decreases in output and productivity. Against this background, my comments will be presented in three parts: 1.         The performance of the Eastern Caribbean Central Bank (ECCB) for the year 2008/2009; 2.         The current economic environment and the major challenges facing the Eastern Caribbean Currency Union (ECCU); and 3.         The response by the Currency Union Authorities to these challenges.

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Caricom Leaders Must Move The Region Forward Or Pay The Price

July 1, 2009
When heads of government of the Caribbean Community and Common Market (CARICOM) meet in early July, a big responsibility will fall on the shoulders of Guyana’s President Bharat Jagdeo as chairman to heal the wounds that are causing the regional project to haemorrhage. President Jagdeo will have to dig deep within himself for the diplomatic skills that will be necessary not only to suppress his own annoyance over recent events in CARICOM, but also to guide his colleague leaders to practical measures that will fix the rifts between them and set the Caricom ship upon an agreed course of further progress that benefits all. All other CARICOM leaders will have to contribute to the healing process by showing a high level of maturity in their discourse with each other and by eschewing a desire for purely short-term national advantage in favour of longer term gain for all. The economic prospects that CARICOM countries face are deeply troubling.  Addressing them at every level, especially international bargaining, calls for a united CARICOM, not a fractious one.

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Health & Beauty

WHEELCHAIR HANDOVER

May 20, 2009
Presentation Ceremony The Rotary Club of Felicity/Charlieville in Trinidad in conjunction with the Rotary Club of Forsyth County in the United States of America has received a matching grant from Rotary International to provide one thousand four hundred (1400) wheelchairs for needy persons throughout our Caribbean Rotary District 7030.  Through our partnership with these mentioned Rotary Clubs we were able to secure thirty (30) of the wheelchairs for our Federation.  Twenty (20) of the wheelchairs are for distribution on Nevis and ten (10) for distribution on St Kitts to persons who have been identified as being in need.

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Lifestyle

OAS Assistant Secretary General to speak at Conference on Crime and Violence

June 22, 2009
OAS Assistant Secretary General, Ambassador Albert Ramdin, will address delegates from across the Hemisphere at a regional Conference on Youth Crime and Violence Prevention that will be chaired by Prime Minister of the Federation of St. Kitts and Nevis, the Honorable Dr. Denzil Douglas. The event is scheduled to convene in St. Kitts, from 22-23 June 2009, at the Marriott Resort, in Frigate Bay. Ambassador Ramdin remains a staunch supporter of the efforts by OAS member States to address the worrisome issue of youth crime and violence. In this connection, the OAS diplomat has been an integral part of the work of the General Secretariat, through its Department of Public Security (DPS), that focuses on assisting countries to improve the training for their law enforcement agencies and designing programs and projects that allow young people to direct their energies in meaningful and productive activities.The DPS also collaborates with countries to develop a combination of prevention, intervention and suppression strategies as well as to mobilize the requisite political and community resources to address gang problems.

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Music & Arts

TRAFFIC MANAGEMENT PLAN - “A Night To Remember” At Warner Park Stadium

July 1, 2009
St. Kitts/Nevis: Security and Traffic Plan for Warner Park Concert:  July 1, 2009   In order to facilitate quick and safe travel to and from the Warner Park Stadium, and to maximize efficiency of parking operations for the Concert at Warner Park on Friday 3rd July 2009, the following traffic restrictions will be necessary.   1.0       ROAD CLOSURE   Lozack Road will be closed to all vehicular traffic.   2.0     TRAFFIC FLOW:   Traffic will flow northward towards the Moravian Church on Victoria Road. Traffic will flow southwards only along East Park Range, between Taylor’s Range and the Basseterre High School. 

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Sport

RESURGENT WINDES DEMOLISH INDIA

June 29, 2009
Sunday, June 28th  2009 - Kingston, Jamaica: West Indies rebounded from a first round defeat to romp to as comprehensive an eight wicket victory over India as could have been achieved. It was a commanding performance at Sabina Park by the rejuvenated home side to level the Digicel Series 1-1 with two games to play. After restricting the visitors to a modest 188 all out from 48.2 overs, the Windies needed only 34.1 overs to get to 192 for 2 and atone for their 20 run loss on Friday at the same venue. Runako Morton, the Nevisian right hander, built not dissimilar to a middleweight boxer, registered his highest score against the Indians and led the run chase with 85 from 102 deliveries, hitting five fours and a solitary six which brought the game to a close well before the stipulated cut off time and as the afternoon sun was in it glory.

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YouthSpace

EIGHT TALENTED PLAYERS FROM THE DIGICEL KICK START CLINICS SELECTED TO TRAIN AT SUNDERLAND AFC

June 22, 2009
John Barnes admits it was tough to select from such a vast pool of talen  Sunday, June 21st – Basseterre, St. Kitts: The 2nd Digicel Kick Start Clinics in the Caribbean drew to a close in St. Kitts this evening, when John Barnes unveiled the eight young Caribbean footballers who will travel to Sunderland AFC in September to spend one week training  at Sunderland’s Academy of Light. Diquan Adamson from Barbados, Esso Amichy from Haiti, Omar Holness and Paul Wilson from Jamaica, Kieron Phillip from St. Kitts, Ruiz Dillon Fromoredio and Bruce Julianto Diporedjo from Suriname and Ryan Frederick from Trinidad were the eight most talented footballers that participated in the Digicel Kick Start Clinics, which took place in six Caribbean countries over the last two months.

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