The government has raised EC$30 million on Tuesday through a one-year Treasury bill sold on the Eastern Caribbean Securities Exchange (ECSE), seeing the total amount of funds raised by the government totalling $50 million for the year.

According to the trading notice, the money raised will be used to pay off older government debts that are coming due, help manage day-to-day government cash flow, and contribute to infrastructure projects across the country.

Tuesday’s auction coincided with the maturity of EC$30 million Treasury bill the government issued a year ago.

The government’s total public sector debt stood at EC$3.987 billion as of September 2025, comprising EC$2.098 billion in domestic debt and EC$1.888 billion in external debt with debt-to-GDP ratio is estimated at 61.4% at the end of 2025, just above the Eastern Caribbean Central Bank’s (ECCB) regional target of 60%.

Of the domestic debt, the government’s share of EC$1.846 billion is composed of government-issued securities at 49%, commercial bank loans at 24%, and Central Bank financing at 3%.

Between January and September 2025, the government made EC$253.69 million in domestic debt service payments, comprising EC$212.85 million in principal repayments and EC$40.84 million in interest.

A further EC$115 million in Treasury bills is scheduled to mature in the first half of 2026 alone, with Tuesday’s EC$30 million bill being the first of those obligations to come due and be refinanced.

This was the second of 12 planned government borrowings scheduled for 2026, which together aim to raise EC$175 million over the course of the year.

The next auction is set for March 18, targeting EC $10 million, also over a one-year term.

The January auction, which was a shorter six-month instrument, cleared at a rate of 2.47%, with the government raising EC $20 million from the auction.

The government’s stated goal is to gradually shift away from short-term borrowing and move toward longer-duration debt, which provides more financial stability and reduces the pressure of frequent repayments.

A two-year Treasury Note is planned for May, which would represent the longest-dated instrument the government has offered on the regional market this cycle.