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Eastern Caribbean Currency Union: 2009 Discussion on Common Policies of Members Countries: Staff Report; and Public Information Notice on the Executive Board Discussion
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2009: Issue 175
Language:
English
Publication Date:
02 Jun 2009
DOI:
https://doi.org/10.5089/9781451811735.002
ISBN:
9781451811735
ISSN:
1934-7685
Pages:
95
Keywords:
ISCR; CR; deficit; OECS-Education Development Project; Grenada; asset; ECCU country; ECCU aggregate; core area; ECCU member; banking system; CARTAC program; Commercial banks; Credit; Caribbean; Global
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The Eastern Caribbean Currency Union (ECCU) countries financial system has increasingly come under stress particularly through weakly supervised nonbank and offshore financial sectors with knock-on effects to domestic banks. The staff report focuses on ECCU’s 2009 discussion on common policies of member countries on economic development and policies. In response, ECCU authorities have accelerated the establishment of national Single Regulatory Units and the passage of harmonized legislation to strengthen then regulation and supervision of nonbanks and offshore institutions.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund