Tweet
Monday, 14 April 2008
Jamaica's total debt now stands at more than $1 trillion.
At the end of the 2007/2008 Financial Year the country owed its local and overseas creditors approximately $1.7 million.
The figure is an 8 per cent increase over the $923 billion recorded at the end of the previous financial year.
The stock of central government and government guaranteed external debt stood at $436 billion which was a 2 per cent increase over 2006/2007.
The rise in Government Guaranteed external debt was due mainly to borrowings in support of Air Jamaica.
During the financial year, domestic debt increased by $48 billion to $562 billion.
The main factors for the increase were the higher than programmed budget deficit and the issuing of securities to cover Bank of Jamaica losses.
Jamaica's total debt now stands at more than $1 trillion.
At the end of the 2007/2008 Financial Year the country owed its local and overseas creditors approximately $1.7 million.
The figure is an 8 per cent increase over the $923 billion recorded at the end of the previous financial year.
The stock of central government and government guaranteed external debt stood at $436 billion which was a 2 per cent increase over 2006/2007.
The rise in Government Guaranteed external debt was due mainly to borrowings in support of Air Jamaica.
During the financial year, domestic debt increased by $48 billion to $562 billion.
The main factors for the increase were the higher than programmed budget deficit and the issuing of securities to cover Bank of Jamaica losses.
Comment