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HomeNewsLocal NewsSKN Government Advances Financial Literacy Initiative for Youth

SKN Government Advances Financial Literacy Initiative for Youth

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by Kevon Browne

St. Kitts and Nevis (WINN): According to the government’s information service, the Government of St. Kitts and Nevis is making progress in promoting financial literacy and economic empowerment among the nation’s youth through the Financial Education and Savings Programme.

Following the initial announcement by Prime Minister Hon. Dr Terrance M. Drew in December 2023, the Government provided updates on the initiatives led by the Financial Education and Savings Task Force.

Under the guidance of Dr Marcus Natta, Cabinet Secretary, the Task Force has worked to develop a programme aimed at providing essential financial knowledge and skills to young citizens aged 5 to 18.

Collaborating with the Ministry of Education’s Curriculum Development Unit, a comprehensive financial education curriculum has been crafted and is being reviewed to ensure alignment with educational standards. Following thorough teacher training, the curriculum is scheduled for school integration in the 2024-2025 academic year.

The Task Force plans to establish a fund structure that balances risk with stable returns with an initial investment in government majority-owned entities, with potential diversification in the future. Governed by protocols inspired by Eastern Caribbean Central Bank practices, the fund aims to engage youth in economic development while fostering positive money habits.

A communication plan will also be developed to raise awareness and educate the public about the programme. Enrollment procedures and participation guidelines will be outlined separately.

The opening of savings accounts for youth participants commenced in September 2024 at the St. Kitts-Nevis-Anguilla National Bank, which will offer special interest rates tailored exclusively for programme participants.

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