ECCB 2023-2024 Annual Report
Eastern Caribbean Central Bank Notes to the Financial Statements For the year ended 31 March 2024 (Expressed in Eastern Caribbean dollars)
10. Participating governments’ securities (continued) Participating government securities measured at amortised cost (continued) 2024
2023
$
$
Current
31,857,473
28,698,991
Non-Current
181,410,394
196,903,682
213,267,867
225,602,673
During the year, the Government of Antigua and Barbuda issued debentures to the ECCB totalling $14,300,000 (2023: $35,000,000) 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 $ Balance as of 31 March 2022 214,809,648 Additions 35,000,000 Payment of principal (22,546,815) Net effect of modification of debentures (3,807,694) Balance as of 31 March 2023 223,455,139 Additions 14,300,000 Payment of principal (26,571,184) Balance as of 31 March 2024 211,183,955
During the year, participating governments’ securities accrued interest at rates ranging from 2% to 4.5% (2023: 2% to 3.5%).
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