I would like to share this, with those who choose to read and not be brained washed by our brain dead politicians. I cannot remember where I got the article from, but I did not write it and credit is due to the author. ( Forgive me for not having the name).
Regardless its a very good article, which looks at Jamaica’s debt situation and how it evolved, while exploring some options, which have been banded about to reduce this burden.
Take a close look the comparative analysis between Jamaica’s debt situation and Japan. The author notes that Japan debt to GDP ration stands at 220%, but debt repaying represents only 2% of the budget of that country. Contrast that with Jamaica , where 57% of the budget goes towards debt repayment in this years budget.
Note also that this recent budget was crafted towards the IMF and international creditors for one reason only and that is to get more DEBT, can you believe that. So by the time the next budget comes around and providing nothing esle changes, we are looking at over 60% of the budget going towards debt repayment.
Default is no longer just a possibility, in my opinion is eminent !
( This portion in italic are my opinion and not that of the writer of the article)
Read the article on the link below.