ECCB Monetary Council Concludes 48th Meeting
Basseterre, St Kitts, July 18, 2003 The forty-eighth meeting of the Monetary Council held in Antigua and Barbuda on Friday, 18 July 2003, was chaired by Council member for Montserrat Hon Margaret Annie Dyer-Howe, Minister of Agriculture, Housing, Lands and Environment. The Council discussed recent economic and financial developments in member countries, prospects for the ECCU and the steps being taken to maintain financial sector stability in the region. Council commended the Governments of Saint Christopher (St Kitts) and Nevis, Saint Vincent and the Grenadines and Grenada, for participating in the newly established Regional Government Securities Market, and encouraged the other member countries to place their securities on the market. In recognition of the importance of debt management for economic stability, Council urged member governments to implement strong fiscal measures and to adopt a best practice approach to debt management. The Council approved a reduction in the Central Bank
