Line-up of educational activities will promote financial literacy of St Lucians, says PM Pierre

St Lucia: Financial Information Month (FIM) is a regional financial, economic, business, and entrepreneurial education campaign observed in the Eastern Caribbean Currency Union (ECCU) since 2002. The month-long campaign has been led by the Eastern Caribbean Central Bank (ECCB), through a joint effort with ECCU member governments, financial and academic institutions, the media, other private and public sector institutions, and community-based groups.

This year 2021, the theme for FIM is Financial Empowerment Through Education. The focus is on Innovation in the Face of Adversity – Respond! Recover! Rise!

Prime Minister of St Lucia, Philip J Pierre said, “The line-up of educational activities for the month will promote financial literacy to our citizens. Much emphasis will be placed on educating our citizens on the adoption of digital platforms to access banking services, governmental and corporate services, to work, conduct business, search for employment opportunities, access healthcare, and manage many other aspects of our lives. It will promote the adoption of saving, budgeting, and investing as good financial habits in our day-to-day living.” “Indeed, there is a school of thought that promotes the need for teaching financial literacy in primary and secondary schools in addition to tertiary institutions. It is rooted in the belief that good decision-making concerning money is a lifelong essential skill which individuals should acquire at an early stage of their lives. As such, prudent financial management is needed at the individual and household levels in much the same way that it is needed at corporations and governments for the betterment of society,” he added.

“The theme and ensuing activities are consistent with the ethos of my administration’s policy to implement e-government during this term, which will place most government services on a centralized digital platform, to improve ease of doing business with the government.”

These activities are also in keeping with Youth Economy concept which will become a significant policy rollout in the months ahead. “We believe that the expansion and modernization of our economy requires a new subsector with a breed of entrepreneurs who are prepared to adopt innovative business processes, of which digital platforms, for the production and marketing of goods and services, are imperatives. Again, the prudent management of funds, whether derived as grants, equity or loans will be critical to the success of new businesses and the economy as a whole.”

“My administration fully supports Financial Information Month (FIM) and wishes every success to the planned activities,” PM added.