• Covid-19
  • Travel Protocols
  • Immigration & Customs Form
Saturday, May 24, 2025
SKNIS
  • Home
  • About
  • Press Releases
  • Parliament
  • In The News
  • Bills
No Result
View All Result
SKNIS
No Result
View All Result
Home Featured

Regional Debt Coordinating Committee (RDCC) discuss plans to strengthen debt management practices in the Eastern Caribbean

SKNISEditor by SKNISEditor
December 6, 2021
in Featured, Press Releases
Regional Debt Coordinating Committee (RDCC) discuss plans to strengthen debt management practices in the Eastern Caribbean
Share on FacebookShare on Twitter

3 December, Basseterre, Saint Christopher (St Kitts) and Nevis – The Regional Debt Coordinating Committee (RDDC) convened on 03 December 2021 to strategise on a harmonised approach to 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.

As ECCU member countries continue to grapple with the effects of the coronavirus pandemic, Government’s revenues have declined amidst depressed economic growth; 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) has provided useful resources to governments prior to, and during, the Pandemic.

Related posts

Christophe Harbour and its Shareholders, the Darby Family and the Government of St. Kitts & Nevis, Announce the Sale of Marina Assets and Operations to Safe Harbor Marinas, LLC

Christophe Harbour and its Shareholders, the Darby Family and the Government of St. Kitts & Nevis, Announce the Sale of Marina Assets and Operations to Safe Harbor Marinas, LLC

May 23, 2025
CONTRIBUTION OPTION TO NEW PENSION PLAN ENSURES EQUITY AND SUSTAINABILITY

CONTRIBUTION OPTION TO NEW PENSION PLAN ENSURES EQUITY AND SUSTAINABILITY

May 23, 2025

Since its inception, the RGSM has grown consistently. The immediate three years prior to the Pandemic were the best years to-date in terms of market activity, with an average growth of 5.0 per cent in the value of funds that participating governments have raised. Although Governments continued to utilize the RGSM during the Pandemic, activity was affected, particularly with respect to Treasury Bill issuance. Notwithstanding, the market has been stable, with all participating governments maintaining their commitments on the market.

In order to ensure accurate monitoring of the 60.0 per cent Debt to GDP target for the ECCU, the RDCC agreed to continue to support ECCU member countries in reporting the total public sector debt which covers central government and public corporations’ guaranteed and non-guaranteed debt, short-term debt instruments and outstanding liabilities.

Moreover, cognizant of the likely impact on the ECCU’s debt portfolio of the phasing out of the LIBOR rate, which was introduced in the late 1960’s, the RDCC agreed to encourage member countries to consider the early transition option that multilateral creditors are considering from 2022; and to undertake early negotiations with creditors.
-more-

The RDCC, which comprises of the Financial Secretaries of the eight member states of the ECCU and the Governor of the ECCB, has direct oversight for the RGSM. Ms. Denise Edwards, Financial Secretary in the Ministry of Finance of the Commonwealth of Dominica, chaired the 44th meeting of the RDCC, which was held virtually on 3 December 2021.

  • 30 –

About the Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank (ECCB) was established in October 1983. The ECCB is the Monetary Authority for: Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher (St Kitts) and Nevis, Saint Lucia and Saint Vincent and the Grenadines.

Media Contact: Shermalon Kirby, Acting Director, Corporate Relations Department
Phone: (869) 465-2537 | Fax: (869) 465-9562
E-mail: info@eccb-centralbank.org | Website: www.eccb-centralbank.org

Previous Post

NATIONAL COMMUNITY EXTENDS SINCERE AND HAPPY BIRTHDAY WISHES TO THE HONOURABLE PRIME MINISTER

Next Post

Uruguay and IICA to undertake technology transfer cooperation projects for small farmers following visit by IICA Director General to Montevideo

Next Post
Uruguay and IICA to undertake technology transfer cooperation projects for small farmers following visit by IICA Director General to Montevideo

Uruguay and IICA to undertake technology transfer cooperation projects for small farmers following visit by IICA Director General to Montevideo

WHAT'S HOT

Christophe Harbour and its Shareholders, the Darby Family and the Government of St. Kitts & Nevis, Announce the Sale of Marina Assets and Operations to Safe Harbor Marinas, LLC

Christophe Harbour and its Shareholders, the Darby Family and the Government of St. Kitts & Nevis, Announce the Sale of Marina Assets and Operations to Safe Harbor Marinas, LLC

May 23, 2025
CONTRIBUTION OPTION TO NEW PENSION PLAN ENSURES EQUITY AND SUSTAINABILITY

CONTRIBUTION OPTION TO NEW PENSION PLAN ENSURES EQUITY AND SUSTAINABILITY

May 23, 2025
SENIOR MINISTER DOUGLAS AFFIRMS THE ESSENTIAL ROLE OF SKNBS IN FACILITATING TRADE WITHIN AND BEYOND THE FEDERATION

DR. DOUGLAS HIGHLIGHTS HISTORIC IMPORTANCE AND GLOBAL REACH OF EXTRADITION BILL, 2025

May 23, 2025

BROWSE BY CATEGORIES

  • 2025
  • Attorney General, Ministry of Justice and Legal Affairs
  • Bills
  • Featured
  • Featured Ministry
  • Government Projects
  • Home Page Slider
  • In Focus
  • In The News
  • Interviews
  • Minister of Agriculture, Fisheries and Marine Resources; Cooperatives; Entrepreneurship and Creative Economy
  • Ministry of Education, Youth; Social Development; Gender Affairs; Aging and Disabilities
  • Ministry of Foreign Affairs, International Trade, Industry and Commerce and Consumer Affairs; Economic Development and Investment
  • Ministry of Public Infrastructure, Energy and Utilities; Domestic Transport; Information, Communication and Technology; and Posts
  • Ministry of Sustainable Development, Environment; Climate Action and Constituency Empowerment
  • Ministry of Tourism, Civil Aviation; International Transport; Employment and Labour; Urban Development
  • Notices
  • Parliament
  • PMO Press Releases
  • Press Conferences
  • Press Releases
  • Prime Ministers Office, Ministry of Finance; National Security; Citizenship and Immigration; Health and Social Security
  • Register of Voters
  • Round Table
  • The Cabinet Secretariat, Cabinet Secteatry
  • Uncategorized

LIKE US ON FACEBOOK

Facebook Pagelike Widget

LOCATION

St. Kitts Nevis Information Service
Government Headquarters
Chruch Street
Basseterre
St. Kitts
Tel:(869)467-1416

FOLLOW US

  • Government of St. Kitts & Nevis

© 2020 St. Kitts & Nevis Information Service. Developed by E-Government Unit

No Result
View All Result
  • Home

© 2020 St. Kitts & Nevis Information Service. Developed by E-Government Unit