Prime Minister of Antigua and Barbuda, the Rt. Hon. Gaston Browne, has called for a new era of bold regional action to transform the economies of the Eastern Caribbean Currency Union (ECCU), urging Member States to convert decades of monetary stability into greater prosperity, expanded ownership opportunities and sustainable wealth creation for the people of the Eastern Caribbean.
Prime Minister Browne delivered the address as he presented his report at the Meeting of the Eastern Caribbean Central Bank (ECCB) Monetary Council in Dominica, marking the conclusion of his tenure as Chairman of the Council.
Reflecting on his year as Chairman, Prime Minister Browne said the Currency Union had successfully navigated a period marked by geopolitical uncertainty, inflationary pressures, volatile energy markets and shifting global trade dynamics while preserving macroeconomic stability and strengthening the foundations for future growth.
“I am pleased to report that, through sound leadership, prudent policy and unwavering regional cooperation, our Currency Union has remained stable, resilient and well-positioned for future growth,” the Prime Minister stated.
He noted that despite significant global headwinds, the economies of the Eastern Caribbean Currency Union demonstrated remarkable resilience, recording estimated economic growth of 3.3 percent during 2025. Antigua and Barbuda also achieved growth of more than three percent, driven largely by significant investments in road infrastructure and the continued expansion and modernization of the V.C. Bird International Airport.
Prime Minister Browne observed that while these achievements were encouraging, regional leaders must now focus on translating economic resilience into lasting prosperity.
“Our challenge now is to transform that resilience into greater prosperity, stronger institutions and expanded opportunities, including ownership and earning opportunities for our people. Our people must be positioned to control the commanding heights of the economies of our respective countries,” he declared.
The Prime Minister also reflected on one of the Eastern Caribbean’s most significant monetary achievements—the fiftieth anniversary of the fixed exchange rate of EC$2.70 to US$1.00.
Describing the exchange rate as one of the world’s most enduring and successful monetary arrangements, he said its longevity reflected decades of prudent monetary management, fiscal discipline and unwavering commitment to regional integration.
He further welcomed the unveiling of a new family of EC banknotes commemorating the historic milestone and praised the Eastern Caribbean Central Bank for its continued stewardship of the regional financial system.
Prime Minister Browne also commended ECCB Governor Timothy Antoine and the Bank’s management team for delivering a profit of EC$121.6 million during the 2025/2026 financial year, describing the achievement as evidence of prudent financial management that will allow for greater returns to Member Governments.
The Prime Minister noted that the banking sector continues to remain highly liquid, with excess liquidity exceeding EC$1.3 billion, while more than 300 businesses have already benefited from financing through the Partial Credit Guarantee Corporation.
He encouraged commercial banks to make greater use of the programme by extending more favourable lending terms to small and medium-sized businesses, arguing that increased access to affordable capital would stimulate entrepreneurship, expand regional production and create new employment opportunities throughout the Currency Union.
Prime Minister Browne emphasized that economic stability must never become an end in itself, but rather the platform upon which governments build stronger economies capable of creating wealth for future generations.
He said the Eastern Caribbean possesses the talent, institutions and financial stability necessary to accelerate development, provided Member States continue working together in pursuit of common regional objectives.
Looking ahead, the Prime Minister expressed confidence that the Monetary Council would continue to build upon the achievements of the past year while pursuing new opportunities for economic transformation.
“As I conclude my tenure, I thank my colleagues on the Monetary Council, Governor Antoine and the staff of the ECCB for their partnership and commitment to our shared regional mission,” Prime Minister Browne said.
“Together, we have preserved the stability of our Currency Union while laying important foundations for future growth and transformation.”
The Prime Minister also congratulated the incoming Chairman of the Monetary Council, the Honourable Dr. Irving McIntyre, Finance Minister of the Commonwealth of Dominica, and pledged his full support as the Council continues advancing policies aimed at strengthening the resilience and prosperity of the Eastern Caribbean.
Concluding his address, Prime Minister Browne reminded regional leaders that while visionary leadership had secured fifty years of monetary stability, the next chapter of the Eastern Caribbean’s development must be defined by economic transformation.
“Our responsibility now is to build upon that legacy—transforming stability into prosperity, expanding opportunity, creating wealth and ensuring a brighter future for generations to come.” (Ends)
Source: Antigua News Room Prime Minister Browne Calls for Bold Regional Action to Transform ECCU Economies at ECCB Monetary Council Meeting.
