Saint Vincent and the Grenadines: bonds

Real GDP grew by an estimate of 6.7% in 2007, compared with a growth of 6.9% in 2006 and 2.6% in 2005. The growth was due to improvement in activities in the construction, wholesale and retail trade, transportation and agriculture sectors. Economic output grew in 2007 due to increases in economic activities within the construction, wholesale and retail trades and manufacturing sectors. New and existing private and public sector construction projects contributed to the growth, where private sector projects focused on tourism-related projects including ongoing work on the Buccament resort and the start of the Isle De Quatre Development Project. Growth in manufacturing output is expected on the opening of the cassava factory and increased market demand. Stay-over arrivals are expected to increase based on additions to hotel capacity and a renewed regional marketing thrust. Current revenues are expected to grow based on economic expansion and the introduction of new tax measures.
Since 2005, the Government of St. Vincent and the Grenadines has undertaken a debt management strategy, of which the most significant aspect was the setting-up of the Debt Management Unit (the DMU) within the Ministry of Finance and Planning. The DMU is responsible for debt policy and strategy formulation, debt analysis, debt-raising activities and debt recording and monitoring. The DMU is also responsible for planning the Government’s financing and borrowing requirements. As of December 31, 2007, the disbursed outstanding public debt stood at EC$989 million, the equivalent of 66.6% of GDP. Total Debt to GDP ratio decreased from 80.1% in 2006 to the 66.6% in 2007 and this reduction reflects the restructure of the Ottley Hall Shipyard project loan in October 2007.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
XCD 8 175 687 000
USD 1 16 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
St Vincent and the Grenadines, 7.5 14may2024 - Domestic bonds 7.5% 25 000 000  XCD 05/12/2017 05/14/2024
St Vincent and the Grenadines, 6.5 6nov2018 - Domestic bonds 6.5% 18 500 000  XCD 11/05/2015 11/06/2018
St Vincent and the Grenadines, 6 11sep2019 - Domestic bonds 6% 15 287 000  XCD 09/10/2014 09/11/2019
St Vincent and the Grenadines, 7 21aug2021 - Domestic bonds 7% 15 000 000  XCD 08/20/2014 08/21/2021
St Vincent and the Grenadines, 5.25 24jul2017 - Domestic bonds 5.25% 8 000 000  XCD 07/23/2014 07/24/2017
St Vincent and the Grenadines, 7 19mar2023 - Domestic bonds 7% 25 900 000  XCD 03/19/2013 03/19/2023
St Vincent and the Grenadines, 7.5 29apr2022 - Domestic bonds 7.5% 38 000 000  XCD 04/30/2012 04/29/2022
St Vincent and the Grenadines, 8.50% 29may2018, USD - International bonds XS0367373015 8.5% 16 000 000  USD 09/12/2008 05/29/2018
St Vincent and the Grenadines, 7.5 26sep2017 - Domestic bonds 7.5% 30 000 000  XCD 09/26/2007 09/26/2017