THE PM ON DEBT TO GDP RATIO

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Prime Minister Philip Davis at New York Times event Tuesday 20 September 2022

It was a busy time for Prime Minister Philip Davis while in New York for the United Nations General Assembly’s High Level Debate. The Prime Minister in addition to giving his own address to the world body was interviewed by a number of publications. One of them was the prestigious financial publication Bloomberg. They asked the Prime Minister about the state of the country’s finances and whether or not the country can pay its debts.  There are persistent rumours that the country will be unable to pay its debts, that it will default and that soon it will end up like a number of other countries in the region in an International Monetary Fund structural programme. The Prime Minister dismissed that thought but went further and said that he expects that the debt to GDP ratio  which was 100 per cent when he came to office is now at 82 per cent and he expects that at the end of his first term that ratio to be down to fifty per cent.