Latest: News

Gov't to extend debt exchange programme

Published: Friday February 22, 2013 | 12:54 pm Comments 0
Finance Minister Dr. Peter Phillips- file photo.
Finance Minister Dr. Peter Phillips- file photo.

The Government is to extend the National Debt Exchange (NDX) programme by a week to give more bondholders time to take up the offer.

The Ministry of Finance says the debt exchange has so far received support by more than 97 per cent of bondholders.

Head of the Debt Management Unit, Pamela McLaren, says the ministry is in discussions with the remaining three per cent to get them on board.

However, she expressed optimism that the Government will received full participation.

The successful implementation of the new debt-exchange programme is a critical factor in the Government's quest to ink a deal with the IMF.

In the absence of the NDX, the Government would have had to pay out today $119.2 billion to bondholders, which represents $89.2 billion for principal on maturing bonds and $30 billion in interest payment.

FOR MORE STORIES WATCH


Like our new Facebook page http://www.facebook.com/gleanerjamaica

Follow us on Twitter
http://twitter.com/JamaicaGleaner


radio@gleanerjm.com

Share |

The comments on this page do not necessarily reflect the views of The Gleaner.
The Gleaner reserves the right not to publish comments that may be deemed libelous, derogatory or indecent. Please keep comments short and precise. A maximum of 8 sentences should be the target. Longer responses/comments should be sent to "Letters of the Editor" using the feedback form provided.
blog comments powered by Disqus

Videos

<

Top Jobs

View all Jobs