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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You my guy need to learn to speak you have a good head on your shoulders but learn to articulate yourself just a little better…You are way better than Hon Pringle but I could tell u were fighting for words a bit….But yes great news and I really hope we get there….
Ha ha ha ha ha ha!
Somebody remember you.
You have been so insignificant and forgotten in the party.
Thanks to Gaston tou are still worth something.
You better pray that Gaston remains leader for a very long time or you will be gone in the wind.
The ALP doesn’t trust you.
They do not believe in Judas like you.
Oh oh!!!! I forgot that your name is “Lucifer’s Son”.
Another lazy ABLP politician mentioning a “ten year” target plan. What planet are these deviating miscreants living on?
Has the Prime Minister informed his cabinet members to hoodwink the gullible by addressing them on whatever financial, infrastructure, or development issue to say “in ten years time things will improve”?
Ridiculous as it sounds, what a marvellous ABLP soundbite. Kudos to Dwane ‘The Muscle Man’ George for following Gaston Browne’s script 👏🏾
A small country with monthly debt expenses of over $68 million is quite fine? That is one of the dunces statement I have ever heard.
“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.”
The yearly budget for the country isn’t it about $1 billion? How is 60% or 62% means you are doing with just an intent to seek (don’t have yet) lower interest and longterm financing?
At my consumer credit and debt firm, where I focus on consumer credit and debt law (administrative/regulatory law), and proper money and debt management I have always advised folks to have a debt to credit ratio of no higher than 30%, all financial institutions frown on anything above 30%.
Why on earth would go on public TV and say such ignorant thing to make these people think you are highly incompetent or corrupt? Does he really want to win in the next election or is he banking on the stupidity of the public. I feel insulted that they think my family is so stupid or that they do not have me to advise them.
Based on the numbers, the country is doing horribly, it is not fine. It only shows that my financial advise to seek investments locally for some projects, paying less than what the government pays, but more than what the banks pays is vitally important right now. Start with the minor debts and sell local treasury bonds (your interest is lower and you are keeping the money in the country instead of paying crazy interest to foreign entities). You need to act now or else your lie will soon be felt substantially more.
The debt to GDP should also be at or below 30% and the interest on those debts to be competitively law, as financial institutions should feel safe lending to you. None of these exist so no person with knowledge of economics or business or consumer credit and debt would ever open their mouth to say what he is saying.
There are certain people in politics in Antigua I stand to hear talk, they are in both Parties and this Over Inflated Windbag Dwayne is one of them. Y’all just do me a favour and stay off the damn TV
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