About the Fiscal Resilience Oversight Committee
The Fiscal Resilience Oversight Committee (FROC) comprises five (5) members who are appointed by the Governor General upon the nomination of the Committee of Privileges of Parliament. Four (4) of the members are nominated in consultation with the Director of Audit, while the fifth member is nominated on the advice of the Governor of the Eastern Caribbean Central Bank (ECCB).
Mission Statement
Strengthening Fiscal Resilience through sustainable fiscal and debt strategies.
Vision Statement
A dynamic and flexible economy fueled by sustained economic growth and underpinned by prudent fiscal and debt strategies and a sound financial system.
About the FROC
The FROC meets at least four (4) times a year or as necessary to permit prompt deliberations on matters under its purview.
In accordance with the legislation, the FROC carries out the following responsibilities:
- Monitor, assess and report on the implementation of the FRA and advise on measures that ensure compliance with the Act.
- Prepare an annual report on the status of implementation of the FRA.
- Provide a written assessment to the Ministry of Finance on the draft of the medium-term fiscal framework.
- Prepare a statement on the impact of any supplementary budget on the compliance with the fiscal rules and targets in the FRA.
- In the event of the activation of section 9 of the FRA, prepare a written assessment on compliance with the FRA and the adequacy of proposed measures to facilitate compliance with the FRA.
In support of the legislative mandate, the FROC undertakes the following:
- Prepare ‘Statement of Compliance’ as a mechanism for ongoing monitoring of compliance of the Government with the FRA.
- Undertake research/investigation on matters relating to the compliance of Government with the FRA.
- Implement the Awareness and Public Participation Programme.
Years in Operations
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Current Members
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Annual Reports
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Responsibilities of the Fiscal Resilience Oversight Committee
The FROC monitors the compliance of the Government with the Fiscal Resilience Act and is mandated to prepare the following reports:
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Contact Info
St. George Grenada.
Monday ,Wednesday and Friday.9:00 am–1:00 pm
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