The Ministry of Finance and Energy advises the general public that a news release dated Thursday, 1 March 2018 published on caribbeannewsnow.com relative to bond issue increasing Grenada’s debt to GDP ratio is a false representation of the facts.
The Government of Grenada’s 2-year note, auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), issued on 8 February 2018, raised $10.0 million, not $100 million as was falsely reported by caribbeannewsnow.com.
Interest payments will be made semi-annually every 8 February and 8 August beginning 8 August 2018 until maturity. The interest rate ceiling is 5.5%. Principal will be repaid at maturity on 8 February 2020.
The issuance of the 2-year note is in keeping with the government’s Medium Term Debt Strategy as was laid before the Parliament with the 2018 Budget report number 4 on page 37 (http://www.gov.gd/egov/docs/reports/parliament-report.pdf.)
The Ministry of Finance advises media entities, to ensure information published are from credible verifiable sources.
This information can be easily accessed from the Ministry of Finance and Government of Grenada Websites (finance.gd/gov.gd) or on the ECSE website: http://www.ecseonline.com/PDF/2018/Feb18/Govt%20of%20GDA%202-year%20T-Note%20auction%20GDG090220%20dd%208Feb18.pdf.
Ministry of Finance