Premier Joseph Farrell Calls for 25 Per Cent Cut in Sub-Region's Food Import Bill by 2023.
The new chairman of the Eastern Caribbean Central Bank’s Monetary Council, Montserrat’s Premier the Honourable Joseph Farrell has called on members of the currency union to reduce the sub region’s food import bill.
He made the call on Friday, at the handing over ceremony where he accepted the mantle from the Prime Minister of St. Kitts and Nevis, Dr. Timothy Harris.
Premier Farrell said high food prices are threatening the food security of member states.
He noted that a reduction of 25 per cent in imports would save the islands more than 400 million dollars.
Mr. Farrell thanked Dr. Harris for steering the Monetary Council through one of the most difficult years in the ECCB’s 38-year history.
He said the Central Bank’s response to the COVID-19 pandemic has been decisive and proactive, but urged citizens in the currency union to get vaccinated to protect themselves and the economies in the subregion.
Premier the Honourable Joseph Farrell speaking at the handing over ceremony of the chairmanship of Eastern Caribbean Central Bank Monetary Council.
The outgoing chairman, Prime Minister Timothy Harris joined Premier Farrell in urging all the citizens in the currency union to get vaccinated against COVID-19.
Mr. Harris said the ECCU has recorded over 10, 000 confirmed cases of COVID and 146 deaths, and called for vigilance to counter and contain the disease.
Prime minister of St. Kitts and Nevis Dr. Timothy Harris.