Regional Economic Ties
St. Lucia is a member of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Central Bank (ECCB) issues a common currency (the East Caribbean dollar) for all members of the ECCU. The ECCB also manages monetary policy and regulates and supervises commercial banking activities in its member countries.
St. Lucia is a beneficiary of the U.S. Caribbean Basin Initiative and is a member of the Caribbean Community and Common Market (CARICOM) and the Organization of Eastern Caribbean States (OECS).
St. Lucia is the headquarters of the Eastern Caribbean Telecommunications (ECTEL) authority, which is developing the regulations to liberalize the telecommunications sector in the region by 2004.
Read more about this topic: Economy Of Saint Lucia
Famous quotes containing the words economic and/or ties:
“Three factors—the belief that child care is female work, the failure of ex-husbands to support their children, and higher male wages at work—have taken the economic rug from under that half of married women who divorce.”
—Arlie Hochschild (20th century)
“A penniless man who has no ties to bind him is master of himself at any rate, but a luckless wretch who is in love no longer belongs to himself, and may not take his own life. Love makes us almost sacred in our own eyes; it is the life of another that we revere within us; then and so begins for us the cruelest trouble of all.”
—Honoré De Balzac (1799–1850)