In remarks at the Eastern Caribbean Central Bank’s 10th Annual Growth and Resilience Dialogue with social partners, Governor Timothy N.J. Antoine set out “The Big Push”, a region-wide transformation agenda aimed at lifting the Eastern Caribbean Currency Union from projected growth of about 3.3 percent in 2026 and 3.0 percent in 2027 to an ambition of 7 percent annual growth over the next decade. He framed the agenda against global disruption, shrinking populations, and the need to shift growth toward productivity, including managed talent mobility to move from “brain drain” to “brain gain”, while noting that the EC dollar’s backing ratio is approaching 99.0 percent ahead of the peg’s 50th anniversary in July. The agenda is structured around seven “theatres of transformation”: cutting the food import bill, where the region imports nearly 90 percent of food at a cost of more than EC$2 billion annually, with a stated goal to reduce imports by 25 percent through climate-smart agriculture and stronger regional distribution; accelerating energy security, given nearly 90 percent reliance on imported fossil fuels, including via the Resilient Renewable Energy Infrastructure Investment Facility with the World Bank and member countries; strengthening trade, logistics and connectivity through regional transport, modern ports and digitised trade platforms; expanding digital transformation via universal broadband, digital skills, AI-enabled services and cybersecurity; advancing financial inclusion and wealth creation, including expanding the Partial Credit Guarantee Programme which has supported more than 300 guarantees valued at EC$30 million, and progressing digital IDs, retail bonds and the CARICOM Payment and Settlement System for real-time cross-border payments in local currencies; repositioning tourism toward higher value per visitor; and implementing a human capital strategy covering STEM and technical training, upskilling and reskilling, an ECCU skilled migrants programme, and regional health initiatives.
Eastern Caribbean Central Bank 2026-04-22
Eastern Caribbean Central Bank Governor outlines Big Push agenda targeting 7 percent annual growth across seven transformation priorities
The Eastern Caribbean Central Bank Governor outlined “The Big Push”, a region-wide agenda to lift Eastern Caribbean Currency Union growth from projected 3.3 percent in 2026 and 3.0 percent in 2027 to 7 percent annually over the next decade, while noting the EC dollar’s backing ratio is nearing 99 percent ahead of the peg’s 50th anniversary. The agenda targets seven “theatres of transformation”: cutting a more than EC$2 billion food import bill, accelerating energy security, strengthening trade and connectivity, advancing digital transformation, enhancing financial inclusion and wealth creation, repositioning tourism, and implementing a human capital strategy to shift from “brain drain” to “brain gain.”