The 73rd Meeting of the Monetary Council of the Eastern Caribbean Central Bank convened on Friday, 29 June 2012 at the ECCB Headquarters, St Kitts and Nevis. The meeting was preceded by the Handing Over Ceremony for the Change in Chairmanship of the Council. Following the meeting, the new Chairman, The Right Honourable Dr Denzil L Douglas, Council Member for St Kitts and Nevis presented the Communiqué of the meeting at a media conference, which was held in the Bernice White Lecture Room, ECCB Headquarters. The Monetary Council is the highest decision making authority of the ECCB. It comprises the eight Ministers for Finance of the ECCB participating governments. Chairmanship of the Council is rotated alphabetically each year among the eight ECCB member countries.
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Prime Minister Douglas took over from the outgoing Chairman, the Honourable Premier Reuben T Meade, Council Member for Montserrat, and will serve as Chairman until July 2013 when the chairmanship will be transferred to the member representing Saint Lucia.
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Chairman,The Right Hon Dr Denzil L Douglas, along with other member of the Monetary Council, at the media conference following the 73rd Meeting of Council, during which he presented the Communiqué.
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During the meeting, Council received a report from the Ministerial Sub-committee on Insurance and welcomed the decision of the ECCU governments and the signing of the Agreement, on 29 June, to recapitalise and sell part of the BAICO business to Sagicor Life Incorporated.
Chairman of the Ministerial Sub-Committee on Insurance, Prime Minister the Hon Dr Ralph Gonsalves signed the Agreement on the behalf of the ECCU member governments.
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Prime Minister Gonsalves' remarks at the signing ceremony. Click here to view |
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News Release on the signing of the Agreement, issued by the Judicial Managers of BAICO and the Governments of the ECCU. Click here to read (PDF)
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