Senator Dwayne George says Antigua and Barbuda’s debt position remains stable and on track to improve, even as the country continues to absorb global and climate-related shocks. Speaking on Government in Motion on ABS, he said the debt-to-GDP ratio stands at about 62 percent and is projected to fall slightly over the next decade.
“Our debt-to-GDP is about 62 percent, and by 2035 we will be at about 60 percent,” George said. “That’s lovely. We’re doing quite fine.”
He said the government services about $65 million in debt every month, with total monthly financial obligations reaching roughly $89 million. Despite those numbers, he said the overall picture remains manageable because the administration is shifting away from short-term borrowing and securing longer-term, lower-interest financing.
“We want cheaper financing and long-term financing because that helps ease the pressure,” George said.
The senator discussed the issue in the context of recent engagements with IMF and World Bank officials, where Antigua and Barbuda joined other small states in highlighting the economic strain caused by frequent external shocks. He said those conversations underscored the need for access to better-structured funding that reflects the vulnerability of small island economies.
“We are exposed to shocks almost every cycle,” he said. “It’s why we continue to argue for concessional financing and mechanisms that recognise our realities.”
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