Regional Debt Co-ordinating Committee Advances Governance Reforms and Retail Investme...

23 June 2026, Basseterre, Saint Christopher (St Kitts) and Nevis -The Regional Debt Co-ordinating Committee (RDCC) has endorsed measures to strengthen the governance and supervisory framework of the Regional Governments Securities Market (RGSM) and expanding opportunities for household participation in regional capital markets.

These measures, which were adopted at the Committee's 50^th meeting held on June 18, include the establishment of a Regional Technical Working Group, enhanced collaboration with the Eastern Caribbean Securities Regulatory Commission (ECSRC) and the designation of alternates to support continuity in the Committee's work.

The committee also approved updates to the RGSM Procedures Manual, including provisions relating to extraordinary circumstances and events.

Additionally, the committee further reviewed the performance of the RGSM, which has raised approximately EC$21.6 billion since inception. The RDCC noted the continued strong demand for government securities and endorsed priorities to expand longer-term issuances, address unmet investor demand and broaden the Retail Bond Programme in support of the Big Push.

The RDCC also endorsed the key findings arising from the Government of Grenada's inaugural Retail Bond issuance and Investor Sentiment Survey. The bond attracted 350 investors, of whom 326 were first-time market participants, demonstrating the programme's potential to advance financial inclusion and household wealth creation across the Eastern Caribbean Currency Union (ECCU).

The committee encouraged broader participation by member governments, including the planned issuance by the Government of Saint Christopher (St Kitts) and Nevis.

Members of the committee further approved changes to the retail bond framework, including replacing the existing maximum investment amount with an individual cap of 2.5% of the issue amount, to allow greater flexibility for investors while maintaining broad-based participation. The committee also approved provisions to facilitate the management of oversubscriptions.

To support the continued development of the programme, the Committee agreed to establish a task force, chaired by the Chief Executive Officer of the Eastern Caribbean Securities Exchange (ECSE), to develop a harmonised framework for future issuances and advance a digital platform for investors.

The RDCC comprises financial secretaries, permanent secretaries, and directors general from the ministries of finance across the eight ECCU countries as well as the Governor of the ECCB. The Committee provides direct oversight of the RGSM and serves as a forum for strengthening debt management practices and supporting the development of regional capital markets.

Francis Fontenelle, Permanent Secretary in the Ministry of Finance, Saint Lucia, chaired the 50^th meeting of the RDCC.

To learn more about the RDCC as well as the RGSM visit our website.

About the Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank (ECCB) was established in October 1983. The ECCB is the Monetary Authority for: Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, Saint Christopher (St Kitts) and Nevis, Saint Lucia and Saint Vincent and the Grenadines.

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