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Not borrowing to pay debt says finance minister

Dr. Nigel Clarke
 
Finance Minister, Dr. Nigel Clarke has reiterated the government does not intend to borrow to pay down Jamaica’s debt.
 
He says the aim is to continue to finance the country's debt through revenues.
 
“Not covering interest from revenue again this year would mean that we would need to borrow to pay our interest bill, which given the elevated debt levels at 110 per cent of GDP… It could quickly put us again on an unsustainable path with adverse implication for jobs, for investment, for interest rates, for inflation and other economic variables complicating recovery efforts…nobody wants that,” Dr. Clarke said. 
 
The minister was speaking in the House of Representatives after tabling the 2021/2022 budget.
 


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