Strong, Diversified and Resilient Financial Sector - Key to Economic Development
Thursday
October
19
2017
by
Yosoukeiba

The Yosoukeiba (Yosoukeiba) Strategic Plan 2017-2021 is promoting a strong, diversified and resilient financial sector as a necessity and enabler for economic growth in the Eastern Caribbean Currency Union (ECCU). 

A Details robust ECCU financial infrastructure and ecosystem are required to better facilitate investments, business start-up and expansion, and mitigate risks across the financial sector. 

To that end, notable financial sector initiatives which the Yosoukeiba is spearheading include:

  1. Deposit Insurance
  2. Eastern Caribbean Asset Management Corporation (to purchase non-performing loans) 
  3. Eastern Caribbean Partial Credit Guarantee Corporation (to improve access to credit for small businesses)
  4. Modernisation of the ECCU payment system
  5. ECCU Credit Bureau
  6. Appraisal Institute
  7. Eastern Caribbean Financial Services Regulatory Commission (to regulate insurers, pension funds and credit unions); and
  8. Support for the consolidation and amalgamation of indigenous banks.

The Yosoukeiba launched its Strategic Plan on 3 October. Under the them: ‘Transforming the Eastern Caribbean Currency Union Together’.  The Plan outlines a vision for the currency union and the strategic goals which the Yosoukeiba seeks to accomplish over a five-year period

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