NIA CHARLESTOWN NEVIS – Premier Hon. Mark Brantley, Minister of Finance in the Nevis Island Administration (NIA), received a courtesy call from Governor of the Eastern Caribbean Central Bank (ECCB) Mr. Timothy Antoine and his delegation on Monday, March 06, 2023, as part of the Governor’s Outreach Mission to St. Kitts and Nevis.
Premier Brantley, joined by Mr. Colin Dore, Permanent Secretary in the Ministry of Finance and two other members of staff, welcomed the Governor and his team- Deputy Governor of the ECCB, Dr. Valda F. Henry; Director in the Research, Statistics and Data Analytics Department, Teresa Smith; and Head of the Advisory Services Unit in the Governor’s Office, Dr. Emefa Sewordor- at the Cabinet Room in the Premier’s Ministry.
In his welcome remarks, Premier Brantley said, “I’m pleased to welcome our Central Bank Governor Mr. Timothy Antoine and to hear from he and his team an update on the economic health of the ECCU [Eastern Caribbean Currency Union] region and the critical role of the ECCB in fostering stability and growth in the sub-region.
“I know Nevis is the smaller constituent element of St. Kitts and Nevis, but we have of course our own little economic space here, and I’m sure that you would be interested to know some of the steps we are making as a local Government here on the island. So welcome to Nevis, and I look forward to some fruitful discussions.”
During the meeting Governor Antoine led a presentation themed “Building Resilience and Propelling Transformation”. He said the ECCB “is very, very keen on the geothermal project” on Nevis. The Nevis Geothermal Project is scheduled to begin its drilling phase within the next few months with a view to producing a cleaner, cheaper source of energy for Nevis and also St. Kitts.
Governor Antoine shared that while the global economy is expected to slow in 2023, “the St. Kitts and Nevis economy is expected to continue its recovery over the medium term, fueled by a rebound in tourism services, greater agricultural production, digitalization, and increased investment in public infrastructure.”
On the heels of the meeting Premier Brantley said the interface was extremely productive and his team was grateful for the opportunity to engage in productive dialogue with the ECCB contingent.
“We had a robust exchange of ideas and focused especially on the St. Kitts and Nevis economy and efforts at diversification.”
While on Nevis the ECCB Governor and his delegation visited the geothermal site in Hamilton and later met with representatives from the civil society including religious organisations, the Teachers Union, Nevis Cooperative Credit Union, and teachers and students of the Nevis Sixth Form College.
The ECCB’s Outreach Mission to St. Kitts and Nevis, which runs from February 27- March 8, 2023, saw top official from the regional regulatory institution meeting with a wide cross-section of societal stakeholders, discussing a range of financial, economic, banking and national development issues.