Montserrat’s Premier Hon. Joseph E. Farrell is now the Chairman of the Monetary Council of the Eastern Caribbean Central Bank (ECCB), a position he will hold for one year.
Premier Farrell assumed this role on Friday July 23, 2021 during the virtual Handing Over Ceremony to mark the change in Chairmanship, as the role was transferred from Prime Minister of St. Kitts and Nevis, Dr. Hon Timothy Harris to Premier Farrell.
In his address, Premier Farrell outlined his policy priorities during his tenure; noting that the policy agenda will include
Monetary Stability;
Financial Stability;
Food and Nutrition Security;
Renewable Energy;
Innovation and Digital Transformation; and
Advocacy on Issues Impacting Small States.
The chairman’s full statement can be read at the following link: STATEMENT BY HON. JOSEPH E. FARRELL – PREMIER & INCOMING CHAIRMAN OF THE MONETARY COUNCIL – Government of Montserrat (www.gov.ms)
The last time Montserrat held the position of chair was in 2011 under Premier Reuben T. Meade.
The Monetary Council is the highest decision making authority of the ECCB and comprises the eight Ministers for Finance of the ECCB member countries: Anguilla, Antigua and Barbuda, The Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher (Saint Kitts) and Nevis, Saint Lucia and Saint Vincent and the Grenadines. Chairmanship of the Council is rotated among the member countries in alphabetical order on an annual basis.