ST. GEORGE’S, Grenada, CMC – The Grenadian government says it is working in partnership with the St. Kitts-based Eastern Caribbean Central Bank (ECCB) to introduce a household retail bond as part of its debt management and citizen investment strategy.
The initiative will be outlined during Financial Literacy Month in October, with the ECCB and other financial institutions participating in a campaign to educate the public on making sound financial decisions.
As part of its preparation for the launch of auctioning the retail bonds, the government said it is seeking to recruit qualified individuals or firms to provide project management services for the successful issuance of its inaugural Household Retail Bond on the Regional Government Securities Market (RGSM), a primary market for the issue of securities by the governments of the member countries of the Eastern Caribbean Currency Union (ECCU), whose members are Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Anguilla, and Montserrat.
The government said that the bonds are intended to encourage household participation in government securities, provide safe and attractive investment opportunities to households and retail investors, broaden the investor base, promote financial literacy, and support the financing of national development priorities.
The Dickon Mitchell administration said that this initiative forms part of its broader strategy to deepen the domestic capital market, diversify financing instruments, and provide citizens with accessible investment opportunities.
Retail bonds are suitable for businesses of all sizes and across all sectors as they help them tap into a new pool of capital outside of the traditional wholesale markets. Retail bonds also provide people with a safe investment option, offering better interest rates than other savings schemes.
While this is set to be the first retail bond for citizens in 2025, the Grenadian government has scheduled the auctioning of a total of EC$105 million (One EC dollar = 0.37 cents) in treasury bills and bonds on the Eastern Caribbean Securities Exchange (ECSE) through the RGSM.
According to Grenada’s 2025 prospectus on the exchange, the government plans to raise EC$60 million through 91-day Treasury Bills and EC$45 million through 365-day Treasury bills at different dates during February, May, August, September, October, and December.
The first 365-day Treasury Bill auctioned by the Government of Grenada on the Regional Government Securities Market was oversubscribed and raised five million dollars more than the targeted amount.
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