Governor of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine, is reassuring Caribbean nationals that the Eastern Caribbean (EC) dollar remains strong, despite the impact of recent disasters.
During a recent press briefing to update the media on various economic issues at the local and regional levels, he said the currency has a backing of 98.1 percent.
According to the National Broadcasting Co-operation, Mr. Antoine stated that a strong and stable EC dollar is one of the key pillars on which the goals of the Eastern Caribbean Currency Union (ECCU) are grounded, and a major factor influencing economic growth.
He added that the ECCB was forced to revise the region’s growth forecast downwards as a result of the impact of recent storms in the Caribbean.
