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Title Eastern Caribbean Currency Union : 2010 discussion on common policies of member countries : staff report, informational annex, and the public information notice on the Executive Board discussion / prepared by the staff representatives for the 2010 discussion with the Eastern Caribbean Currency Union
Published Washington, D.C. : International Monetary Fund, [2011]
©2011
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Description 1 online resource (90 pages)
Series IMF country report ; no. 11/30
IMF country report ; no. 11/30
Summary 1. The ECCU is at crossroads as vulnerabilities have intensified. The ECCU consists of eight small, open, tourism-dependent island economies which share a common currency pegged to the U.S. dollar (Figures 1 and 2).1 The regional currency board arrangement, which continues to be an appropriate exchange rate regime, has provided a strong anchor for macroeconomic stability, and facilitated financial system development. However, the global financial and economic crisis has brought to the fore pockets of significant weaknesses. Surging fiscal deficits, the lack of institutional arrangements for fiscal consolidation, unsustainable debt levels, and stress in the financial sector are threatening the very underpinnings of the currency union and the currency board. The authorities have responded on a number of fronts, but remedial action has been uneven and needs to be intensified in a number of areas and countries
Notes Online resource; title from PDF title page (IMF Web site, viewed May 10, 2011)
Subject Eastern Caribbean Currency Union.
International Monetary Fund -- Caribbean Area.
Banks and banking -- Caribbean Area.
Competition -- Caribbean Area.
Debts, External -- Caribbean Area.
Debts, Public -- Caribbean Area.
Economic indicators -- Caribbean Area.
Fiscal policy -- Caribbean Area.
Monetary policy -- Caribbean Area.
Nonbank financial institutions -- Caribbean Area.
Caribbean Area -- Economic conditions.
Form Electronic book
Author International Monetary Fund, issuing body
ISBN 1283562278
145521390X
1455217565 (e-book)
1455269018
9781283562270
9781455213900
9781455217564 (e-book)
9781455269013
Other Titles Eastern Caribbean Currency Union, 2010 discussion on common policies of member countries