Fin. Sec. Skerritt now Regional Debt Coordination Committee chair

BRADES, Montserrat – The Hon. John Skerritt, Financial Secretary for the Government of Montserrat this month assumes chairmanship of the Regional Debt Coordination Committee (RDCC).

The RDCC was established by the Eastern Caribbean Currency Council on the 25th of October 1996 to facilitate the development and be responsible for the oversight of the operations of an integrated Regional Government Securities Market. This, the RDCC is to accomplish through harmonising the objectives, policies, procedures and rules, which seek to promote the efficient functioning of the market and enhance the overall debt management capabilities of the respective governments.

The main duties of the Chair are to:
1. Provide guidance in the area of policy to the Committee and the Secretariat;
2. Present reports to the Monetary Council on behalf of the RDCC;
3. Act as spokesperson for the Committee;
4. Preside over meetings of the RDCC;
5. Preside over meetings between the RDCC and other entities such as the ECSRC, IWG;
6. Approve the Agenda for RDCC and related meetings;
7. Approve the prospectus from Issuing Governments on the RGSM;
8. Approve the minutes of the RDCC and related meetings;
9. Authorise correspondence emanating from the RDCC; and
10. Undertake any other duties as related to the TOR of the Committee or as assigned by the Monetary Council

The RDCC comprises members of the Eastern Caribbean Central Bank (ECCB) and the financial secretaries from each member territory. Mr. Skerritt’s chairmanship term will be from July 2011 to June 2012 and coincides with Chief Minister, the Hon. Reuben T. Meade chairing the Monetary Council of the Eastern Caribbean Currency Union.