Eastern Caribbean Central Bank
Encyclopedia
The Eastern Caribbean Central Bank is the monetary authority
of a group of six independent Caribbean
nations namely:
and 2 British overseas territories
It was founded in October 1983 in order to maintain the stability of the East Caribbean dollar
(EC$) and the integrity of the banking system in order to facilitate the balanced growth and development of member states. Its headquarters are located in the city of Basseterre
, on the island of St. Kitts.
All of the ECCB members are also a part of the Organisation of Eastern Caribbean States
(OECS).
Monetary authority
Monetary authority is a generic term in finance and economics for the entity which controls the money supply of a given currency, and has the right to set interest rates, and other parameters which control the cost and availability of money...
of a group of six independent Caribbean
Caribbean
The Caribbean is a crescent-shaped group of islands more than 2,000 miles long separating the Gulf of Mexico and the Caribbean Sea, to the west and south, from the Atlantic Ocean, to the east and north...
nations namely:
- Antigua and BarbudaAntigua and BarbudaAntigua and Barbuda is a twin-island nation lying between the Caribbean Sea and the Atlantic Ocean. It consists of two major inhabited islands, Antigua and Barbuda, and a number of smaller islands...
, - GrenadaGrenadaGrenada is an island country and Commonwealth Realm consisting of the island of Grenada and six smaller islands at the southern end of the Grenadines in the southeastern Caribbean Sea...
, - Saint Kitts and NevisSaint Kitts and NevisThe Federation of Saint Kitts and Nevis , located in the Leeward Islands, is a federal two-island nation in the West Indies. It is the smallest sovereign state in the Americas, in both area and population....
, - Commonwealth of DominicaDominicaDominica , officially the Commonwealth of Dominica, is an island nation in the Lesser Antilles region of the Caribbean Sea, south-southeast of Guadeloupe and northwest of Martinique. Its size is and the highest point in the country is Morne Diablotins, which has an elevation of . The Commonwealth...
, - Saint LuciaSaint LuciaSaint Lucia is an island country in the eastern Caribbean Sea on the boundary with the Atlantic Ocean. Part of the Lesser Antilles, it is located north/northeast of the island of Saint Vincent, northwest of Barbados and south of Martinique. It covers a land area of 620 km2 and has an...
, - Saint Vincent and the GrenadinesSaint Vincent and the GrenadinesSaint Vincent and the Grenadines is an island country in the Lesser Antilles chain, namely in the southern portion of the Windward Islands, which lie at the southern end of the eastern border of the Caribbean Sea where the latter meets the Atlantic Ocean....
,
and 2 British overseas territories
British overseas territories
The British Overseas Territories are fourteen territories of the United Kingdom which, although they do not form part of the United Kingdom itself, fall under its jurisdiction. They are remnants of the British Empire that have not acquired independence or have voted to remain British territories...
- AnguillaAnguillaAnguilla is a British overseas territory and overseas territory of the European Union in the Caribbean. It is one of the most northerly of the Leeward Islands in the Lesser Antilles, lying east of Puerto Rico and the Virgin Islands and directly north of Saint Martin...
, - MontserratMontserratMontserrat is a British overseas territory located in the Leeward Islands, part of the chain of islands called the Lesser Antilles in the West Indies. This island measures approximately long and wide, giving of coastline...
.
It was founded in October 1983 in order to maintain the stability of the East Caribbean dollar
East Caribbean dollar
The East Caribbean dollar is the currency of eight of the nine members of the Organisation of Eastern Caribbean States...
(EC$) and the integrity of the banking system in order to facilitate the balanced growth and development of member states. Its headquarters are located in the city of Basseterre
Basseterre
Basseterre , estimated population 15,500 in 2000, is the capital of the Federation of Saint Kitts and Nevis in the West Indies. Geographically, the Basseterre port is located at , on the south western coast of Saint Kitts Island, and it is one of the chief commercial depots of the Leeward Islands...
, on the island of St. Kitts.
All of the ECCB members are also a part of the Organisation of Eastern Caribbean States
Organisation of Eastern Caribbean States
The Organisation of Eastern Caribbean States , created in 1981, is an inter-governmental organisation dedicated to economic harmonisation and integration, protection of human and legal rights, and the encouragement of good governance between countries and dependencies in the Eastern Caribbean...
(OECS).