Minister with responsibility for Finance, Dr Ashni Singh, has approached the National Assembly to increase the ceilings on both domestic and external debt in what he described as an attempt to regularize the outstanding debt of the last administration while creating space for the current government to finance a robust development plan.
The Minister yesterday laid in the Assembly “The Public Loan (Increasing of Limit) Order 2021” and the “External Loans (Increas-ing of Limit) Order 2021.
The first order once approved will increase the amount that the Guyana Government can borrow from domestic lending agencies to $500 billion dollars. Currently government can have a cumulative domestic debt of no more than $150 billion.
