By Caribbean News Now contributor
ST GEORGE'S, Grenada -- The Eastern Caribbean Monetary Council has appointed permanent secretary in Grenada’s ministry of finance, Timothy Antoine, as governor of the Eastern Caribbean Central Bank (ECCB).
Eastern Caribbean Central Bank (ECCB) governor-designate, Timothy Antoine
Antoine, a Grenadian national, succeeds Sir K Dwight Venner, who retired on November 30, 2015.
He is the holder of a BSc degree in Economics with Management from the University of the West Indies and an MSc in Social Policy and Planning from the London School of Economics.
Antoine’s appointment followed a process that included identification of suitable candidates by a search committee led by Sir Errol Allen, interviewing the candidates and the submission of recommendations to the Monetary Council.
Antoine was one of the two candidates shortlisted for the position in December 2015. The other candidate was Dr Hyginus Leon of Saint Lucia, a senior official of the International Monetary Fund.
The Monetary Council, the highest decision making body of the ECCB, interviewed the two top ranked candidates before making its decision.
In welcoming Antoine, Victor Banks, chief minister of Anguilla and chairman of the Monetary Council, noted that “Mr Antoine is an outstanding Caribbean professional with a clear vision for the ECCB and demonstrated commitment to the development of the Eastern Caribbean Currency Union (ECCU).”
Antoine also has significant regulatory experience as a member of the ECCB board for 12 years and as chairman of the Grenada Authority for the Regulation of Financial Institutions for the past seven years. He is also the chairman of the Technical Core Committee on Insurance for the ECCU.
The new governor has served as director on several regional boards including the Caribbean Development Bank and the Caribbean Catastrophe Risk Insurance Facility. He also served as advisor to the executive director for Canada, Ireland and the Caribbean at the World Bank Group from 2005-2007.
Antoine will officially assume office on February 1, 2016.
Grenada’s Prime Minister Dr Keith Mitchell extended his congratulations to Antoine, on his appointment.
Mitchell said he was “ecstatic but not surprised. Timmy has obviously distinguished himself over the years, to the point where he has earned regional and international respect for his work and his integrity.”
The prime minister went on to say that Antoine’s new role will come at a great loss to the finance ministry of Grenada but he is confident that, as a region, we are all winners because "Timmy will be one of the best assets to regional development."