The Board of Directors of the Eastern Caribbean Central Bank convened a special session to examine the management of the Eastern Caribbean Currency Union’s foreign currency reserves, as the region approaches a major milestone for its long-standing exchange rate arrangement.
Directors were briefed on the policies and safeguards used to manage the ECCU’s reserves, which underpin the fixed exchange rate of EC$2.70 to US$1.00. July 2026 will mark 50 years since the peg was established.
Discussions during the meeting focused on governance structures that guide reserve management decisions, risk management systems designed to protect the exchange rate, and asset allocation strategies aimed at strengthening the region’s financial resilience.
The Board underscored its responsibility to ensure that reserve management remains prudent, sustainable and responsive to evolving global financial conditions.
Antigua and Barbuda was represented at the meeting, alongside the other seven member states of the ECCB.
Governor Timothy N.J. Antoine chaired the session. The Board also includes Deputy Governor Dr Valda F Henry as the other executive member, in addition to representatives from each of the eight participating territories.