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)

11. Participating governments’ advances Participating government advances measured at amortised cost

2024 $

2023 $

Operating accounts: - Government of Saint Lucia

5,737,350

85,744,510

24,741

Interest receivable

-

Total operating accounts

5,762,091

85,744,510

Temporary advances - Government of Antigua and Barbuda

43,500,000 12,303,312

50,290,000 15,662,531

- Government of Saint Vincent and the Grenadines

55,803,312

65,952,531

432,594

Interest receivable

560,775

56,235,906

66,513,306

Total temporary advances

Total participating governments’ advances

61,997,997

152,257,816

Less: allowance for impairment losses

(51,452)

(56,006)

Total participating governments’ advances, net

61,946,545

152,201,810

Current

61,946,545

152,201,810

Amounts due from participating governments for temporary advances and operating account overdraft balances are unsecured and accrued interest at rates ranging from 2.0% to 3.0% per annum (2023: 0.0% to 2.0%).

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