The Government says a one per cent depreciation of the Jamaican dollar against the US dollar would increase the country's debt stock by $13 billion and add approximately $621 million in interest payments.
That additional interest cost would represent about 0.4 per cent of the country's projected Gross Domestic Product (GDP) for the next fiscal year.
That level of impact would be significant because external debt accounts for between 57 and 60 per cent of Jamaica's total debt, which is expected to reach $2.4 trillion by the end of the current fiscal year.
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