Govt pulls in $90m from savings bonds
GOVERNMENT says it has raised $90 million in the past six months through the issuance of savings bonds which are in “hot” demand.
Minister of Finance Chris Sinckler made the disclosure in the House of Assembly yesterday as he introduced the Savings Bonds) Validation Bill 2016 to regularise bonds issued and monies raised between June 1, 2015and the date of commencement of the Savings Bonds (Amendment) Regulations 2016.
After there had been some difficulties with the initial launch, the Central Bank in May last year relaunched the bonds with some adjustments making them more attractive and accessible to ordinary Barbadians with the first issue effective June 1.
Sinckler said that beyond the Government and Central Bank’s “wildest dreams”, the reissued bonds were “snapped up like hot cakes”. (AB)
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