Prime Minister Roosevelt Skerrit says he intends to build on the good work laid out by outgoing Chairman of the ECCB Monetary council, Antigua PM, Gaston Browne. He made those comments as he today assumed the role of Chairman of ECCB Monetary Council for a second time. He says while the general outlook for the ECCU economy is said to be positive, the current outlook is well below the 5% annual growth target required to address key macroeconomic objectives. PM Skerrit outlined the desired future for the ECCU but he says securing this future demands commitment to economic transformation. Meanwhile, Skerrit says the practice of de-risking by correspondent banks is one of the most significant challenges to banking in the ECCU at this time. PM Skerrit said over the next year focused will be placed on addressing three key economic challenges being faced by the council. Meantime, he says the ECCB will continue its strong advocacy to preserve corresponding banking relationships in the ECCU.
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