ECCB says EC Dollar stable

ZIZ News…May 31, 2013 — The Governor of the Eastern Caribbean Central Bank has refuted suggestions by Moody Investment Services that the EC dollar should be devalued to address the debt crisis in the region.

In an exclusive interview with ZIZ News, Sir K Dwight Venner said there is no need to devalue the EC dollar.

He says it is stable and well backed.

Sir Venner says the EC dollar is regularly analysed and there is no reason that would justify devaluing it.

He says Moody’s suggestion to adopt the US dollar wouldn’t help a debt crisis because their currency fluctuates while ours remains at a fixed rate to theirs.