Government of Saint Lucia and CMMB enjoy fruitful collaboration
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Contact: Claudia Monlouis
Wednesday, October 21, 2009 The Government of Saint Lucia and the Caribbean Money Market Brokers CMMB, recently celebrated their latest collaboration, that of a six year bond in the amount of EC $40 million, auctioned in July 2009, and scheduled to mature in 2015.
A small ceremony was conducted at the offices of CMMB on Brazil Street on Monday. At the event, Prime Minister and Minster for Finance Stephenson King, described government's partnership with CMMB, as productive.
The CMMB's assistance is not limited to providing brokerage and underwriting services to the government. CMMB has continually been involved in uplifting the financial awareness of the population by holding pertinent and relevant workshops on finance and investment when it matters. In lieu of risk mitigation, the CMMB provides a greater list of instruments, prime minister King said.
Chief Operations Officer of CMMB, Mr. Ramcharan Kalicharan, says the response of the investor market remains healthy.
It is a market that has been growing. Traditionally, investors would have invested with commercial banks in terms of savings and so on, because those rates at lower. What we do now, is to offer bonds to investors; in a sense it's a relatively new investment opportunity to investors, Kalicharan said. The Caribbean Money Market Brokers, is poised to expand into the Northern Caribbean. |
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