ST GEORGE’S, Grenada, CMC – The fiscal debt specialist at the St. Kitts-based Eastern Caribbean Central Bank (ECCB), Juletta Edinborough, says more than 500 people have shown interest in purchasing retail bonds after the Grenada government announced last Monday that it would be auctioning five million EC dollars (One EC dollar=US$0.37 cents.
Speaking at the launch of Financial Information Month, an annual initiative of the ECCB, Edinborough said that hundreds of people have shown interest within the first eight days of the announcement.
“As of today, they have already seen interest from persons; about 500 individuals have already indicated,” she said.
“Remember, I said earlier that for the 23 years of the market’s existence, only 600 persons across the eight countries have invested in the market, and we are already seeing interest, in the case of Grenada’s bond of 500,” she said.
Financial Information Month is being observed under the theme “Financial Investing: from savers to investors”. Late last month, Finance Minister Dennis Cornwall stated that the retail bond being auctioned would be made available only to ordinary Grenadians, not to institutions.
“This initiative provides a safe, tax-free investment backed by the full faith and credit of the Government of Grenada. It’s a practical step toward making wealth-building accessible to all,” Cornwall said.
Grenada’s Retail Bond Programme is designed to raise $5 million, with a minimum investment of EC$500, which is significantly lower than the traditional EC$5,000 threshold for first-time and small-scale investors.
The Ministry of Finance said that the key features of the retail bond include a two-year investment term, tax-free returns, and accessibility for first-time and small-scale investors.
“The initiative highlights the government’s broader vision of inclusive economic growth, citizen empowerment, and fostering a culture of financial responsibility among Grenadians,” the Finance Ministry added.
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