{"id":123194,"date":"2021-01-28T11:17:55","date_gmt":"2021-01-28T15:17:55","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=123194"},"modified":"2021-01-28T11:17:55","modified_gmt":"2021-01-28T15:17:55","slug":"government-will-continue-to-meet-debt-commitments-as-they-become-due-and-payable","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/government-will-continue-to-meet-debt-commitments-as-they-become-due-and-payable\/","title":{"rendered":"Government will continue to meet debt commitments as they become due and payable.\u00a0"},"content":{"rendered":"
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Prime Minister the Hon. Gaston Browne has given his government\u2019s commitment to make every effort to meet its debt commitments as they become due and payable.<\/p>

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\nSpeaking in the House of Representatives on Thursday, Prime Minister Browne said that despite the downturn in the economy occasioned by the COVID-19 Pandemic,\u00a0 resulting in a cash-flow difficulties, the Government has not defaulted on any of its debt service obligations on the Regional Government Securities Market.<\/p>\n

\u00a0<\/strong><\/p>\n

PM Browne informed the House that it is estimated that the total public sector debt to GDP, at December 2020, amounted to 89 per cent.<\/p>

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\u201cIt will be recalled, that it was our Government\u2019s policy to lower the debt to GDP ratio, and at the end of 2019, we had done so successfully, reducing the ratio to 67 per cent.\u00a0 At the end of 2020, the Government\u2019s total public debt portfolio was $3.34 billion, of which central government debt was $2.85 billion and $490 million was government guaranteed debt.\u00a0 Of that amount, external debt was $1.68 billion and domestic debt amounted to $1.7 billion,\u201d he said.<\/p>\n

\n

He noted that because of the skewed criterion of \u2018high per capita income\u2019, the country could not access concessional funding or grants from the international financial institutions as did a number of other countries in the region.\u00a0 He said his nation was punished for its good economic performance by being denied assistance, when consideration was most needed.<\/p>

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\n

\u201cTherefore, we borrowed from willing lenders, among whom were the Eastern Caribbean Central Bank and the Regional Government Securities Market.\u00a0 Others gave us cash flow relief for which we are grateful.\u00a0 They include: the Caribbean Development Bank, the Abu Dhabi Fund, and domestic Banks,\u201d he pointed out.<\/p>\n

\n

PM Browne said that despite the challenges, his government has not laid off one public servant, and has maintained spending on the health, education, and the well-being of the nation.<\/p>\n

\n

\u201cThat, Mr. Speaker, is not only good governance; it is indicative of good performance!,\u201d he said.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Prime Minister the Hon. Gaston Browne has given his government\u2019s commitment to make every effort to meet its debt commitments as they become due and payable. Speaking in the House of Representatives on Thursday, Prime Minister Browne said that despite the downturn in the economy occasioned by the COVID-19 Pandemic,\u00a0 resulting in a cash-flow difficulties, […]<\/p>\n","protected":false},"author":3,"featured_media":123195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[118,119,117,116,107,88,102,94,96,91,90,99,92,114,115,98,108,106,104,109,95,105,110,112,113,111,101,103,97],"class_list":["post-123194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-268-antigua","tag-268-antigua-barbuda","tag-268-antigua-today","tag-268-today","tag-advertise-in-antigua","tag-antigua","tag-antigua-barbuda","tag-antigua-and-barbuda","tag-antigua-breaking-news","tag-antigua-caribbean","tag-antigua-crime","tag-antigua-economy-news","tag-antigua-news","tag-antigua-news-rooom","tag-antigua-observer","tag-antigua-politics","tag-antiguan-news","tag-barbuda","tag-barbuda-news","tag-barbudan-news","tag-breaking-news-antigua","tag-news","tag-news-antigua","tag-news-antigua-barbuda","tag-news-antigua-and-barbuda","tag-news-barbuda","tag-news-in-antigua","tag-news-in-barbuda","tag-tourism-news"],"yoast_head":"\nGovernment will continue to meet debt commitments as they become due and payable.\u00a0 - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/government-will-continue-to-meet-debt-commitments-as-they-become-due-and-payable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government will continue to meet debt commitments as they become due and payable.\u00a0\" \/>\n<meta property=\"og:description\" content=\"Prime Minister the Hon. Gaston Browne has given his government\u2019s commitment to make every effort to meet its debt commitments as they become due and payable. 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