Letters & Opinion

Sir Dwight Venner – The Legacy

Image of The late Sir Dwight Venner
Image of John Peters
By John Peters

IT came as a bit of a shock, when I heard on a news clip that Sir Dwight had resigned as Governor of the Eastern Caribbean Central Bank (ECCB). However whether it is resign or retire, I believe the OECS has a huge debt to Sir Dwight for his commitment and dedication to the region for the last 26 years. He also retains the last ‘Afro’ in the OECS, as many of his colleagues from the glorious era of enlightenment may be now baldheads either by choice or by nature’s effects.

My travels and the vagaries of LIAT have allowed me to interface with many Saint Lucians who lived in Saint Lucia and worked in the region. During my working stint in Trinidad, I met Dr. Vaugha n Lewis on several occasions as he travelled to lecture at the University of the West Indies. Many Friday evenings we were stuck at the terminal in Piarco and shared many conversations on politics, the economy and several other matters. It was a wonderful learning experience courtesy LIAT.

During my working stint in Anguilla, I met Sir Dwight on his way to St Kitts and also had an opportunity to speak with him and though the conversations were short, they were always refreshing. Sir Dwight took control of the ECCB in 1989 from Sir Cecil Jacobs, a mere six years after its establishment in 1983.He has led this institution for 26 years, making him one of the longest serving Central Bank Governors in the hemisphere.

The ECCB website has a profile of Sir Dwight which for the information of all is restated:
‘“The Hon Sir Dwight is an economist by training and was educated at the University of the West Indies, Mona, Jamaica where he obtained both a Bachelor of Science (BSc) and a Master of Science (MSc) degree in economics. He served as a Junior Research Fellow at the Institute of Social and Economic Research at the University of the West Indies and then as a lecturer in economics from 1974 to 1981.

“He has written and published extensively in the areas of Monetary and International Economics, Central Banking, Public Finance, Economic Development, Political Economy and International Economic Relations.
“Selected publications include Monetary Policy and a Stable EC Dollar, 1996; Surmounting the Barriers to Development, 1996; The Prospects for a Unified Caribbean in the New International Economic Order, 1996; Prospects and Policy Options for the ECCB Area, 1997; Economic Theory and Development Options For The Caribbean: The Sir Arthur Lewis Memorial Lectures 1996-2005, 2007.

Sir Dwight Venner
Sir Dwight Venner

“Currently, he is a member of the Board of Directors of the Caribbean Knowledge and Learning Network, and a member of the Commission for Growth and Development, World Bank. He is also Chairman of the OECS Economic Union Task Force Committee, and the UWI Open Campus Council.

“The Hon Sir Dwight received the award of Commander of the British Empire (CBE) in 1996 in St Lucia and was recognized as a Distinguished Graduate of the University of the West Indies on its 50th Anniversary in July 1998. In June 2001 he was awarded Knight Commander of the Most Excellent Order of the British Empire (KBE) in St Vincent and the Grenadines for services to the financial sector. In October 2003, the Hon Sir Dwight was recipient of an honorary degree, the Doctor of Laws from the University of the West Indies. In December 2011, he was awarded the Saint Lucia Cross for distinguished and outstanding service of national importance to Saint Lucia.’

Sir Dwight leaves a lasting legacy of currency stability in an era of turmoil. The OECS has not experienced the catastrophic effects of the financial crisis as we have seen in other countries such as Greece; we have not had the devastation of currency fluctuation as Jamaica and Guyana. Born in St Vincent, lived most of his life in Saintt Lucia, worked most of his life in St Kitts, he has chosen all the ‘Saints’ to be involved in his life.

I can only say thank you for the sacrifice you have made for each OECS citizen, your work is forever etched in the history of the Caribbean. I salute you as a giant in your field and a true Caribbean regionalist.

2 Comments

  1. His was a relatively easy job at that institution, given its remit. However, we owe a HUGE debt of gratitude for the existence of a body. Look at the state of the domestic economy. Had the ECCB not been there, and it regulatory powers not enforced, complete idiots and dumb tinkerers like the local Emperor (has no clothes) of Economic Stupidity, would have long time ago destroyed a local substitute currency out of sheer unalloyed backwoodsman ignorance.

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