The Eastern Caribbean One And Two Cents Coins Will Be A Thing Of The Past

Vincentian media workers and others in the Eastern Caribbean Currency Union have been sensitized on a plan by the Eastern Caribbean Central Bank (ECCB) to phase out the use of the one and two cent coins across the sub-region.

The plan was launched during a video conference held on Tuesday, which was addressed by Director of the Currency Management Department of the ECCB, Pamela Osbourne.

Mrs. Osbournethe process of phasing out the coins will begin on July1st and run for five years. She said the step is being taken mainly because the coins are not cost-effective to produce.

Mrs. Osbourne said the ECCB will also be implementing roaming guidelines as part of the process of phasing out the coins.