Its conservative policy of building up exchange cover for the Eastern Caribbean dollar to a much greater extent than required by its basic Agreement has led to monetary stability for member countries and made the EC dollar
one of the strongest currencies in the region.
The European Union is providing EC$39 million (One EC dollar
The existence of this common currency may raise the risk of money laundering, but there is little evidence that the EC dollar
is a primary vehicle for money laundering.
Agriculture Minister Saboto Caesar told Parliament that banana exports to the United Kingdom between January and September this year varied from a low of 135 boxes, generating EC$2,700 (One EC dollar
Last December it unveiled a plan it said would help reverse an EC$43 million (One EC Dollar
An anonymous businessman is also said to have put up a further 100,000 EC dollars
, around pounds 18,000.