Saint Lucia: PM Philip J Pierre outlines action plan for ECCB Monetary Council

Castries, Saint Lucia: Prime Minister Philip J. Pierre is the newly installed Chairman of the Eastern Caribbean Central Bank (ECCB) Monetary Council. The Prime Minister, at the official handover ceremony on July 22, provided a breakdown of his ambitious, people-focused policy agenda to be implemented over the next 12 months. 

Prime Minister of Saint Lucia- Philip J Pierre, expressed pleasure in assuming the Chair of the Monetary Council. He outlined his prime objective of assuming the Chair is to advance the strategic objectives of the ECCB as outlined in its strategic plan. 

Through his social media, Prime Minister Pierre stated, “On Friday, I had the distinct honour of assuming the Chair of the Monetary Council and advancing the strategic objectives of the ECCB as outlined in its strategic plan.” 

Prime Minister Pierre stressed that he always took the people-centric approach throughout his tenure. He also outlined his agendas and various Strategic plan for 2022 to 2026. 

PM Pierre stressed that his main focus would be to remain at the Recovery, Resilience and Transformation for Eastern Caribbean. 

Prime Minister Philip Pierre added, “In the months ahead, my Chairmanship will be people-focused, and the Council’s agenda will be consistent with both the Programme of Action for Recovery, Resilience and Transformation and the ECCB’s Strategic Plan (2022-2026).” 

Outlining four agendas, PM Pierre remarked that: Our policy agenda will focus on four areas:

1. Tackling Inflation

2. Resilient and Inclusive Growth

3. Financial Stability and Financial Inclusion

4. Payments Modernization and Digital Transformation

He reiterated that they need commitment and political will, stakeholder participation, sustainable financing and collective action.

“To realize the outcomes of the Council’s people-led agenda, we require commitment and political will, stakeholder participation, sustainable financing and collective action,” said the prime minister. 

PM Pierre asserted that time should not be wasted. Work should be started as soon as possible as there is a great need to tackle the challenges. 

He added, “Today’s challenges present the opportunity for greater coordination of effort at all levels; let us not waste it and be brave. We can do better in serving the common good of our people. It’s the reason we were called to public service.”