‘Accounting’ for slippages in the government debt to GDP ratio

Part 2

Introduction

As promised last week, I shall conclude my effort to provide a basic accounting of those factors which the macroeconomic data suggest are responsible for the slippage in the government debt to GDP ratio for Guyana that has been observed since 2007.

To recall, the  ratio declined to its lowest level of 60 per cent for both 2007 and 2008. But since then the ratio has increased to 70 per cent by 2011. Because of our past history of a highly indebted poor country (HIPC), I have urged readers to share my concern about this slippage in the government debt to GDP ratio, ….