On 18 January 2016, the Government of Grenada raised EC$15 million on the Regional Government Securities Market (RGSM) in 91 Day Treasury bills, using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE).
The security was competitively auctioned and resulted in an over-subscription of $2.1 million and a very favourable interest rate of 4.49%. This represents the lowest rate for 91-day bills auctions throughout the ECCU region for 2016 thus far. Other auctions held for the month of January resulted in rates of 6.0% for Dominica on 5 January 2016, 4.82% for St Vincent & The Grenadines on 6 January, and 4.499% for St Lucia on 20 January 2016.
This extremely good start signals continued investor confidence in Government of Grenada Securities.