Prime Minister Gaston Browne has credited his government’s fiscal policies for the significant reduction in Antigua and Barbuda’s debt-to-GDP ratio, describing it as proof of responsible financial management.
Speaking on Pointe FM, Browne stated that the country’s debt-to-GDP ratio has fallen to 62%, a major improvement from over 100% when his administration took office.
He stated that this reduction reflects prudent economic planning and disciplined spending.
“This is a significant achievement. We have managed to bring down our debt levels while continuing to invest in critical sectors such as infrastructure, healthcare, and education,” Browne said.
The prime minister attributed the improvement to strategic debt restructuring, economic diversification, and sustained growth in key sectors like tourism.
He noted that despite global economic pressures, Antigua and Barbuda has maintained stability by prioritizing revenue generation and responsible borrowing.
Browne also addressed concerns about government spending, arguing that investments in national development projects are balanced with efforts to keep debt levels manageable.
“Our approach ensures that while we build the country, we don’t burden future generations with excessive debt,” he said.
Financial analysts have pointed to Antigua and Barbuda’s post-pandemic economic recovery as a key factor in the debt reduction.
The International Monetary Fund (IMF) and regional economic bodies have acknowledged the country’s progress in managing public finances.
The government has signaled that it will continue efforts to lower the debt ratio further while promoting economic expansion.
Officials have indicated that future policy measures will focus on sustaining growth, strengthening revenue collection, and attracting investment to maintain fiscal stability.
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GIndeed Prime Minister Browne, growth and investment have been achieved without the kind of pain that comes from borrowing from the World Bank and IMF. These institutions have unhealthy strings attached to their lending. The proof is in the results.
we need to keep an eye on long-term sustainability and not just short-term gains.”
I hope it translates into real benefits for everyday people.”
Outstanding boss man, you sound like a LUCRIPETOUS salesman; which begs the eternal question that patriotic Antiguans keep wanting to know:
WHEN WILL WE WITNESS THE BENEFITS?
Remember, many have eyes and empty pockets
In a fraction, the numerator is the number on top, representing how many parts you have, while the denominator is the number on the bottom, representing the total number of equal parts in a whole; for example, in the fraction “3/5”, “3” is the numerator and “5” is the denominator.
To convert a fraction to a decimal divide the numerator by the denominator. To convert a fraction to a percentage divide the numerator by the denominator and multiply by 100
One needs to first understand the above in order to comprehend what the Prime Minister is saying. There are several factors that can lead to to a lower Debt to GDP ratio. The PM is contributing this to solid Fiscal Discipline. Now when he is saying that it would have many people wonder how come they still cannot get paid for work they have done many years ago. The UPP was cunning enough to leave certain debts out of the equation. Thereby they would lower the numerator. The Denominator however was shirnking even faster. Which means the economy was contracting. So their Debt to GDP was going up and up. As a result they also end up in a fiscal problem. Although they were the government that introduced the PIT. An Income stream the government never had before. Eventuslly those measurements did not help neither the fiscal nor the economic conditions. No economic growth and more debt.
Now what this government is doing is to first focus on increasing the denominator. At the same time they are also trying to bring down the debt stock. Increasing the denominator has been working because they have been able to attrack much FDI. Lots of people do not understand the working of an economy. But if we go back to the shot down days of covid, we could see that there was not one economic activity for a couple of months. But that we could not keep doing for long. Any country needs to have economic activity to survive. That is why it is so hard when America sanctions a country and submit them into starvation. A very cruel way to oppres a nation. And they have been doing this to the Cuban people for sixty years now. One can therefore not imagine how prosporous Cuba would have been if the sanctions were lifted. Now the squeze is on Venezuela. The Big Bully is so powerful they can sanction any country in the world. Especially because of the Dollar being the International Currency.
Anyone using the USD is subject to US Laws. The US controls the world with this currency.
Anyway back to the topic at hand. Does a lower debt to GDP really means fiscal discipline. I guess that depends on what really moved. The Numerator or the Denominator. Or both. But the fact remains and that is a stark reality that the PM cannot get away from. The Treasury is still Strapped for Cash.