Economy
The city of Basseterre has established itself as a financial centre in the Eastern Caribbean. It is home to the headquarters of the Eastern Caribbean Central Bank, as well as the Eastern Caribbean Securities Exchange, which lists securities for companies and corporations in the region. The city is also headquarters for the St. Kitts-Nevis-Anguilla National Bank, the largest bank in the Eastern Caribbean, in terms of assetts.
The city is also a major Eastern Caribbean industrial centre, its main exports being bass, electronics, beverages, apparel, and salt. The once dominating sugar industry closed in 2005. This was due to overwhelming debts and further predicted hardships from major price cuts planned by the EU. There are specified industrial estates which carry out sub-sonic technology, food processing, light engineering, bass (instrument) engineering and rum distilling.
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Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)