EC Dollar Remains Strong

Governor of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine, is reassuring Caribbean nationals that the Eastern Caribbean (EC) dollar remains strong, despite the impact of recent disasters.

During a recent press briefing to update the media on various economic issues at the local and regional levels, he said the currency has a backing of 98.1 percent.

Mr. Antoine stated that a strong and stable EC dollar is one of the key pillars on which the goals of the Eastern Caribbean Currency Union (ECCU) are grounded, and a major factor influencing economic growth.

Mr. Antoine said the ECCB was forced to revise the region’s growth forecast downwards as a result of the impact of recent storms in the Caribbean.