NOTICE BY THE NATIONAL INSURANCE CORPORATION:
The National Insurance Corporation (NIC) finds it necessary to respond to statements circulating on social media, falsely claiming it bailed out the government of Saint Lucia by purchasing $5M in unsold Treasury Bills on the Regional Securities Market.
The NIC wishes to set the record straight regarding these false and misleading claims:
-The government of Saint Lucia came to market an April 7th, 2020 to roll over an existing Treasury Bill in the amount of $16M.
-The NIC has an existing position of EC $2.4 million in that Treasury Bill dating as far back as 2016.
-The NIC was successful in rolling over its existing 2.4 million at a rate of 3.46972% for a further 91 days.
-The NIC made no other investment in that Treasury Bill issue.
