Jamaica’s debt still tops J$2 trillion

Local debt falls while international debt rises

BY BALFORD HENRY Senior staff reporter balfordh@jamaicaobserver.com

Friday, October 02, 201

JAMAICA’S total public debt, based on the government’s calculations, stood at just over $2 trillion at the end of July 2015.

The figure stood at $2,050,109.8 million at the end of July, which represented a 0.4 per cent increase over the $2,041,693 at the end of March


So let me get this right domestic debt is 18.7% lower but external debt is 18.4% higher , or net 0.4% lower.

Here is the kicker, with the continued devaluation, the Jamaican equivalent of the external debt will continue to rise and will soon be on parity and then above the 18.7%  reduction in the local debt.

So in short order, we will see our total debt stock rising higher and higher as devaluation continues.

So the gains from the buy back would have only been a short term gain, unless the PNP Government is able to grow the economy, which is not something they have been good at after 24 yrs in power.

So the debt buy back was indeed a great deal for Jamaica, I get it !


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