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More than $100m owed on government loans

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  • More than $100m owed on government loans

    More than $100 million is owed by Jamaicans who have defaulted on their obligations after receiving loans through the Cabinet office. The sum was revealed as Parliament's Public Accounts Committee (PAC), on Tuesday morning examined a query made in 2005/2006 Auditor General's Report.

    The sums due relate to persons who received loans through the Cabinet Office with the requirement that they work in the country for a specified period or repay the loans.

    The Auditor General's revelation that over 100 delinquent borrowers had not been held accountable, sparked heated debate, with PAC member Andrew Gallimore requesting a list of the hard-core delinquents.

    The members also queried why the Cabinet office had not tried to ascertain where these persons were working.
    "Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)
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