The just concluded 90th Meeting of the Monetary Council of the Eastern Caribbean Central Bank (ECCB) marked a significant milestone for a pillar of OECS integration and it also signaled the departure of the Prime Minister of St. Vincent and the Grenadines, Dr. Hon. Ralph Gonsalves, from the council.

Chairman of the Authority of the Organisation of Eastern Caribbean States Hon. Allen Chastanet paid effusive tribute to one of the longest serving members of the Monetary Council.

Prime Minister Chastanet indicated that PM Gonsalves’ tenure was characterized by sagacious advice and astute strategizing that has helped to preserve the integrity and strength of the Eastern Caribbean currency.

“PM Gonsalves has the distinction of being one of the signatories of the Revised Treaty of Basseterre which was signed on the 18th June 2010 and throughout his long tenure in office he has been an anchor of OECS regional integration and a pillar of institutional continuity in the Monetary Council,” the OECS Chairman said.

“In his capacity as Chairman of the Ministerial Subcommittee on Insurance, Prime Minister Gonsalves led the Monetary Council’s response to the BAICO/CLICO Insurance situation,” Mr. Chastanet continued. “As a consequence well over $100 million have been paid to thousands of BAICO policyholders thereby bringing some much needed relief.”

The new Vincentian Minister of Finance, Hon. Camillo Gonsalves, replaces Dr. Hon. Prime Minister Ralph Gonsalves on the Monetary Council.