| Description | File of correspondence regarding amendments to the Eastern Caribbean Currency Agreement (ECCA), 1965 (articles 9, 11, and 17). Also related correspondence concerning: changing the parity of the East Caribbean dollar; the nature of eligible external assets; the replacement of the specifically sterling-linked provisions of the agreement; the establishment of a regional exchange control system; the approval of the agreement by the British and other participating governments; the advice of the Bank of England; the possible adverse effects of the amendments on Montserrat; the effects of the premature legislation passed by St Lucia and St Vincent; and how to satisfy the requirements of the International Monetary Fund (IMF) placed on the British Government. The file includes a paper on 'The Foreign Currency Link and the Exchange Rate of the East Caribbean Dollar', and a draft copy of the proposed amendments to the East Caribbean Currency Agreement. |