Speaking at the launch event held to release the results of the inaugural Financial Literacy and Financial Inclusion Survey, the Governor of the Eastern Caribbean Central Bank, Timothy N.J. Antoine, said the ECCB commissioned the survey because financial inclusion is a strategic priority for the Central Bank.
Financial inclusion refers to access to a range of financial services including banking, credit and insurance whereas financial literacy refers to the ability to understand certain financial issues and use financial skills for personal financial management such as budgeting and investing.
“In a region which boasts high levels of adult literacy (high 90 per cent), financial literacy is lamentably low and lugubrious,” the Governor said.
Governor Antoine added:“Armed with the results of this Survey and seized with a sense of urgency, I issue a clarion call for a coalition of partners and champions (institutionally and individually) to join the ECCB as we craft and implement a strategy to scale up financial literacy and inclusion in the ECCU.”
ECCB Governor Timothy N.J. Antoine noted that such a scaling up can be achieved through strong collective commitment. For instance, he said that in order for every high school graduate in the Eastern Caribbean Currency Union...