Posted: Friday, June 26, 2020. 8:42 am CST.
By Aaron Humes: Prime Minister and Minister of Finance Dean Barrow briefly confirmed during Thursday’s press conference that some US$22 million of a US$30 million Treasury Note has been raised to meet the overwhelming demand for foreign exchange.
That represents 75 percent of the note, which appears to defy expectation after negative remarks by Government critics.
Earlier this month, Prime Minister Barrow introduced the first-of-its-kind initiative via the Central Bank, as a means of addressing the dwindling supply of U.S. currency.
The Treasury Note has a tenure of five years and a coupon of six point five percent. The interest on the note will be disbursed on a semi-annual basis.
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