ECCB Sets 2035 Debt Target as Antigua Nears 60% Benchmark
The Eastern Caribbean Central Bank’s Monetary Council has agreed to extend the deadline for member states to achieve a 60 percent debt-to-GDP ratio to 2035, Prime Minister Gaston Browne said Saturday, noting that Antigua and Barbuda is now close to meeting the benchmark.
Speaking on the Browne and Browne Show, Browne said Antigua and Barbuda’s public debt currently stands at approximately 61 percent of gross domestic product.
“We’re now at about 61 percent,” Browne said, adding that the country has made steady progress toward the long-standing regional target.
He explained that the original timeline for achieving the 60 percent ratio has been revised by regional leaders, who agreed to push the deadline to 2035 to allow member states more time to consolidate fiscal gains.
“The new date is 2035,” Browne said, referring to the agreement reached at the Monetary Council level.
The prime minister also noted that economic growth within the Eastern Caribbean Currency Union is projected at roughly 3.5 percent, reflecting continued expansion across the region.
“Growth is projected at about 3.5 percent,” he said.
The revised debt target and growth outlook were discussed during the most recent meeting of the Monetary Council of the Eastern Caribbean Central Bank, where regional fiscal performance and macroeconomic stability formed part of the agenda.
Antigua and Barbuda has been working toward the 60 percent benchmark for several years, with Browne indicating that the country is now within close range of the target set by the currency union.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
