Economy
Finance Minister clarifies debt situation
Finance Minister clarifies $14b loan impact, says net public debt increased by $4.07b after repayments and refinancing, not $14b.
Finance Minister Colm Imbert announced that government loans amounting to $14 billion over nine months have not increased the country’s public debt. He clarified that a media report misrepresented the impact of government borrowing on public debt. From October 2023 to June 2024, central government and Government-Guaranteed Principal Repayments totalled $9.23 billion, reducing the net public debt accordingly.
