NO. 140 /2019 DATE: March 20, 2019
GRENADA ATTRACTS LESS THAN 2% INTEREST ON THE RGSM FOR SECOND TIME
GOVERNMENT OF GRENADA, 19th March 2019: Grenada continues to attract very low yields on its short term debt instruments as its latest auction yielded an interest rate of 1.9 percent with its re-issue of a Treasury bill on the Regional Government Securities Market (RGSM), for the second consecutive year.
The securities were competitively auctioned On March 14, 2019, and due to the high demand by investors resulted in a total of $26.4 million in bids, an oversubscription of $11.4 million.
Three licensed brokers placed a total of 11 bids, ranging from $15,000 to $7.0 million. This is a clear indication of investors’ interest in the secure investment climate that now exist in the tri-island state.
This successful auction and the continuous low yields of Government of Grenada’s Treasury bills are a direct result of local, regional and international confidence in the management of Grenada’s finances and the perception of prudent financial management and consistently reduced risk of investing in Grenada.