: what will it take for me to double my net worth over the next decade? improving financial literacy is imperative and urgent before i conclude, i wish to remind the bosl fund management that this launch is an important first step. it is necessary but not sufficient. do not simply assume if you build it and offer it, investors will come. effective demand will be driven by both cash and consciousness. for as sir arthur lewis, nobel laureate, wisely proffered : " the fundamental cure for poverty is not riches but knowledge. " consequently, you must be relentless in cultivating an appetite for financial investing and sustaining demand for this product through a massive financial literacy campaign and good fund performance. i wish to remind bosl fund management, broker / dealers and investment advisors of your responsibility to inform and educate the people of the eccu on their rights and risks as investors. i also wish to advise that the eccb will be expanding its financial literacy, resilience and wellness programmes. i therefore strongly encourage the people of the eccu to avail themselves of the abundant financial literacy options now available. conclusion in conclusion, in my capacities as governor of the eastern caribbean central bank and chairman of the eastern caribbean securities exchange, i express my pleasure with the launch of the bosl global investment fund in the eccu. i wish all involved – bosl fund management, broker / dealers but especially our investors – great success. i thank you. 3 / 3 bis - central bankers'speeches

7 ( 2 ) of the eccb agreement states ( and i quote ) : " the council shall meet not less than twice each year to receive from the governor the bank's report on monetary and credit conditions and to provide directives and guidelines on matters of monetary and credit policy to the bank and for such other purposes as are prescribed under this agreement. " ( end of quote ) today, i confirm that our ec dollar remains strong with a current foreign reserves backing approaching 97 percent, up from 92 percent one year ago. the statutory requirement is a backing of 60 per cent. current reserves amount to $ 5. 2 billion. a call for building resilience ladies and gentlemen, the shocks keep coming. our planet is again on pace to experience the hottest year on record. according to copernicus climate change service ( the european union's earth observation programme ), the global average temperature for the past 12 months was 1. 64c above the 1850 - 1900 pre - industrial average. moreover, each of these months has been at least 1. 5c warmer than the pre - industrial average. indeed, the heat is truly on. on 01 july, several of our fair isles were pummeled by a major storm – hurricane beryl - leaving in its wake a trail of death, devastation and disruption of livelihoods in grenada and saint vincent and the grenadines. we again express our sympathy and strong solidarity for our affected members. we are committed to supporting them in their relief and recovery efforts. in this regard, i am pleased that our board and the monetary council swiftly approved a grant of $ 1million for each country. of necessity, each of us must commit ourselves to a relentless and lifelong pursuit of building resilience in our countries and currency union. as i have previously averred, resilience is the capacity to withstand and absorb shocks and to bounce forward – not back but forward. 2 / 5 bis - central bankers'speeches our resilience toolkit will evolve and expand but at this critical juncture should include : a growth mindset ( to build back better and bounce forward ) fiscal buffers ( on which to draw from in times of emergency ) financial protection ( including catastrophe risk insurance offered by ccrif spc, the caribbean catastrophe risk insurance facility ) climate adaptation ( to harden our physical and digital infrastructures ) psycho - social counselling and support ( to strengthen our coping capacities ) a time of uncertainty for our global economy the monetary council