PetroCaribe Debt is NOT included in Jamaica’s overall debt numbers, so no reduction in Debt/GDP Ratio from debt buyback !

The financial analyst have all been saying that the recent debt buyback from Venezuela will reduce Jamaica’s Debt/GDP ratio, but amazingly this really NOT true as I am not finding out.

Here is the info

Jamaica’s public debt is expected to reach $2.072 trillion at the end of March, but PetroCaribe is not calculated in the amount, based on the way the debt is calculated.

If PetroCaribe were added to the stock of debt, the figure would climb by 8.1 per cent or move to $2.24 trillion.

http://jamaica-gleaner.com/article/lead-stories/20150304/jamaican-government-giving-serious-consideration-buying-back

The IMF calculation of the debt/gdp ratio uses the overall debt of $2.072 Trillion, which does NOT include the PetroCaribe debt numbers and hence having signed off on the US$2B bond issue, Jamaica will see no change in this ratio.

Why is it that not a single one of the various analyst who have been interview thus far has made this information available to the public.he

I keep saying the lack of research in this country is a huge problem and once again, I take the statements from these so called experts with a grain of salt and so end up doing my own research and come to my own position..

So folks there you have it, we have all been mislead by the Minister and his band of expert analyst on radio and tv.

Its amazing what a little bit of research can produce.

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