As the Eastern Caribbean Currency Union member countries continue to grapple with the effects of the coronavirus pandemic, Government’s revenues have declined; while expenditures have increased, as governments channel additional resources to the health sector and to persons affected by the Pandemic.
The Regional Government Securities Market (RGSM) is said to haveprovided useful resources to governments prior to, and during, the Pandemic.
Three years prior to the Pandemic were the best years to-date in relationsto market activity, with an average growth of 5.0 per cent in the value of funds participating governments have raised.
While Governments continued to utilize the RGSM during the Pandemic, activity was affected, particularly Treasury Bill issuance. Notwithstanding, the stability of the market, with all participating governments maintaining their commitments on the market.
While countries grapple with the rippling negative effects of COVID 19, The Regional Debt Coordinating Committee assembled to strategise on a harmonised approach to the public sector debt management and to consider the impact of the end of the London Interbank Offer Rate (LIBOR) on the Eastern Caribbean Currency Union’s (ECCU’s) debt portfolio.
