Economy

Saint Lucia Resumes Banana Exports To The United Kingdom

by Geraldine Bicette-Joseph At a Sitting of the House of Assembly, the Minister for Agriculture stated that the fortunes of Saint Lucia’s banana industry were changing for the better. “I am pleased to...

UN Body Calls For Halting Cryptocurrency Rise In Developing Countries

The UN trade and development body, UNCTAD, has called for action to curb cryptocurrencies in developing nations, in three policy briefs published on Wednesday. Although private digital currencies have rewarded some individuals...

Hilaire Says Regional Travel Decline Impacting Saint Lucia

Tourism Minister Dr. Ernest Hilaire has said that the decline in regional travel is heavily impacting Saint Lucia. "In 2019, we had just over 82,000 arrivals. Up to June this year, we...

ECCB Governor Speaks On Inflation

ECCB Governor, Mr. Timothy Antoine, spoke recently on inflation and the impact of the global increase in interest rates on islands within the Eastern Caribbean Currency Union. “One of the issues that...

ECCB Monetary Council Approves Draft Payment System & Services Act

by Jacques Hinkson-Compton The Monetary Council of the Eastern Caribbean Central Bank (ECCB) has approved a draft of the Payment System and Services Bill. According to Prime Minister of Saint Lucia and Chair...

Sandals Investment To Help Power Development, Create Opportunities For Youth

Basketball, well known as a sport for champions, continues to attract both boys and girls in Saint Lucia. Barely out of pre-school, and with help from Sandals Resorts and the Sandals...

ECCU Economic Recovery Spreading ‘Albeit Slowly’

'The recovery is spreading - albeit slowly' throughout various sectors of the Eastern Caribbean Currency Union ( ECCU) economy. That's according to a communiqué of the 102nd Meeting of the Monetary Council...

ECCB Governor Urges Patriotism, Shared Sacrifice Amid ‘Inflation Storm’

The Governor of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine, has called for patriotism and shared sacrifice amid the current 'inflation storm' in an address Friday in Saint Lucia to the...

CARICOM Agriculture Minister Discuss Food Security

The Council for Trade and Economic Development (COTED) i was meeting on Friday to continue deliberations on advancing the Caribbean Community (CARICOM) food systems agenda. At the just concluded 49th Meeting of...

WATCH: Pierre Encouraged By Investor Confidence

Prime Minister Hon. Philip J. Pierre is encouraged by a resurgence in investor confidence in Saint Lucia. Hon. Pierre has given insight on recent engagements with investors and provided updates on ongoing...

Chastanet Says Saint Lucia Economy Collapsing Under Pierre

Rejecting an offer to present solutions to the government as Saint Lucia faces  unprecedented economic challenges, opposition leader Allen Chastanet has declared that the national economy is starting to collapse under...

Ministry Of Tourism Invites Feedback On Draft Tourism Development Bill

In November 2021, Cabinet endorsed a request by the Ministry of Tourism, for a revision of the Tourism Incentives Act, Cap 15.30. In order to fulfill this mandate, the Ministry conducted a...

Saint Lucia’s Farmers & Agro-Processors Receiving EU, CDB Assistance

Export growth and stronger food security will be the focus of a new project in Saint Lucia supported by the European Union (EU) and the Caribbean Development Bank (CDB). The project...

Tourism Development Legislation Aims To Provide Equitable Access

by Jacques Hinkson-Compton For decades tourism has been the leading economic sector in Saint Lucia. New legislation is in early development but is purposed with the removal of perceived shortcomings in the...

EC Dollar Remains Strong 46 Years After Being Pegged To The US Dollar

The EC Dollar remains strong after 46 years of being pegged to the US Dollar at a fixed rate of EC$2.70 to US$1.00 on 7 July 1976. The Governor of the Eastern...

Saint Lucia Farmers, Agro-processors Receiving EU, CDB Assistance

Export growth and stronger food security will be the focus of a new project in Saint Lucia supported by the European Union (EU) and the Caribbean Development Bank (CDB). The project...

Saint Lucia CIP Doing ‘Better Than Before’

Minister for Investment Dr. Ernest Hilaire says Saint Lucia's Citizenship by Investment (CIP) programme is doing well. At the same time, he disclosed that there had been a 'downsize' in Russian...

King Believes Saint Lucians ‘Psychologically’ Prepared For Bus Fare Increase

Transport Minister and former Prime Minister Stephenson King believes Saint Lucians were psychologically prepared for a bus fare increase that went into effect on Monday. “I think psychologically Saint Lucians are prepared....

WATCH: Government Details Policy Measures To Cushion Impact Of Rising Prices

Prime Minister Philip J. Pierre and the  Director of Research and Policy in the Ministry of Economic Development, Jemma Lafeuille have been detailing government policy measures aimed at offsetting the impact...

ECCB Publishes 2021-2022 Annual Report

The Eastern Caribbean Central Bank (ECCB) has published its 2021-2022 Annual Report and Statement of Accounts for the financial year ended 31 March 2022. The Report, which was published on 30 June,...

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