Guyana among lowest in C'bean for debt to GDP ratio

June 30, 2018 6:28 PM

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Guyana among lowest in C'bean for debt to GDP ratio

GEORGETOWN, Guyana (CMC) — Guyana's Finance Minister Winston Jordon has sought to assure the country that the economy remains sound and that external debt levels are still below 50 per cent of the country's Gross Domestic Product (GDP) – a key indicator of a country's financial health.

Debt to GDP for an economy is similar to a household's combined debt – from credit cards, mortgages or small loans – as it compares to its income.

In the case of Guyana, the most recent figures indicate a debt level of 45.2 per cent in 2017 and 46.4 per cent in 2016.

He noted that for Guyana, the current level is more than manageable, adding that debt should be viewed in relative terms and not absolute.

Source: jamaicaobserver.com

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