RDCC Pleased with Investors
During the first three months of 2012, the four member governments of the Eastern Caribbean Currency Union that issued securities on the Regional Government Securities Market (RGSM) were successful in raising short and long term capital amounting to $246.6m. This information came out of a report that was presented at the 32nd Meeting of the Regional Debt Coordinating Committee (RDCC), which has direct oversight for the RGSM. According to the report, although there was a modest decline in the value of the bids from investors, the 11 securities that were issued during the period were generally oversubscribed. While interest rates on 91-day Treasury bills increased slightly, the governments were able to minimise the cost of borrowing as the auctions remained competitive. The report further stated that another positive development on the RGSM was the increase in ECCU citizens
