Prime Minister Gaston Browne of Antigua and Barbuda has addressed the controversy surrounding the Eastern Caribbean Central Bank’s (ECCB) construction of a multi-million-dollar official residence for its Governor, Timothy Antoine, located in the upscale Beacon Heights area of St. Kitts.
During a press conference on 18th July 2025, Prime Minister Browne, who chairs the ECCB Monetary Council, stated that there was no evidence of malpractice in the project’s execution. He confirmed that all necessary procedures, including a competitive tendering process for contractors and consultants, were followed. He acknowledged, however, that there were shortcomings in communication between the ECCB’s Board of Directors and the Monetary Council.
“This particular project was managed primarily by the board of directors. As you know, the council itself and council members… concentrate primarily in policy formulation and… does not get involved in project management,” Browne said.
He acknowledged deficiencies in communication, noting, “we felt however that council members should have been kept informed via the directors and that is where we felt… there was some weakness in terms of sharing information at the time.”
Browne emphasised that while the council does not micromanage projects, steps will be taken to strengthen reporting mechanisms. “There’s also a requirement… that any project in excess of $10 million… should be fed up to the council and they must get a no objection from the council before they pursue any such project,” he added.
Browne further commented on cost concerns, stating, “I don’t know that the building necessarily would have cost less than the 20 plus million… so there’s no evidence to suggest otherwise.”
The controversy intensified earlier this year when a letter from Prime Minister Ralph Gonsalves of St. Vincent and the Grenadines was leaked. In the letter, dated 5th March 2025, Prime Minister Gonsalves condemned the expenditure, describing the EC$22 million project as a “scandal” and a “palace” that was “unacceptable” given the region’s economic challenges.
The ECCB has defended the project, stating that the residence is intended not only as the Governor’s home but also as a venue for official functions that cannot be accommodated at the bank’s headquarters . The design and construction processes adhered to international standards, and the project was managed by qualified firms.
As the project nears completion, the ECCB and the Monetary Council say they are working to address the concerns raised and to ensure that future projects benefit from enhanced transparency and good governance.
Stay informed with the latest news and updates from SKN Source! Click here to join our WhatsApp channel and get updates straight to your mobile. Don’t forget to follow us on Facebook for more stories and insights!
Be the first to comment on "PM Gaston Browne Addresses ECCB Governor’s Residence Controversy"