ECCB 2022-2023 Annual Report and Financial Statements

Eastern Caribbean Central Bank Notes to the Financial Statements For the year ended 31 March 2023 (Expressed in Eastern Caribbean dollars)

10. Participating governments’ securities (continued)

Participating government securities measured at amortised cost (continued)

2023

2022

$

$

17,309,199

Current

28,698,991

199,525,693

Non-Current

196,903,682

216,834,892

225,602,673

During the year, the Governments of Antigua and Barbuda and Saint Vincent and the Grenadines issued debentures to the ECCB totalling $35,000,000 (2022: $17,500,00) through the member governments ’ access to their long-term credit allocation at the Bank.

The movement in participating governments’ securities may be summarized as follows:

Debentures $ 208,496,553 17,500,000 (14,884,149) 214,809,648 35,000,000 (22,546,815) (3,807,694) 3,697,244

Balance as of 31 March 2021

Additions

Payment of principal

Net effect of modification of debentures

Balance as of 31 March 2022

Additions

Payment of principal

Net effect of modification of debentures

Balance as of 31 March 2023

223,455,139

During the year, participating governments ’ s ecurities accrued interest at rates ranging from 2% to 3.5% (2022: 2% to 3.5%).

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