It is obvious to us that signing the BRI is a step to retaining access to development loans from China, and we should look at it dispassionately and not with the usually misinformed hysteria about the Chinese taking over Jamaica.
Our debt to China represents approximately 3.9 per cent of the country's total debt and will be paid off in the next decade. The loans Jamaica has received from China have some of the lowest interest rates in the country's debt portfolio. Indeed, 90 per cent of the debt Jamaica owes to the Government of China through the China Eximbank is at two to three per cent. These loans also have less conditionality and are not intrusive in policy areas which are not strictly economic.