The new instruments offered under Government’s debt restructuring plan are to be issued on November 15, the Central Bank of Barbados today advised.
And the new instruments are to issued in cyberspace, not on paper, the bank added.
In a brief announcement, the central bank blamed “technical and data issues” for delaying the reissue.
“The Bank regrets not meeting the original October 31 deadline. We are working assiduously to complete the process by mid-November,” the bank said.
The Central Bank also advised creditors that they will now receive e-statements instead of physical certificates for the new instruments.
Under the plan, domestic holders of Government paper were offered new instruments with lower interest rates, longer repayment dates and select reductions of the principal, with 97 per cent of them accepting the new offer.