PLP RAISES DEBT FEARS

Mon, Sep 20th 2010, 08:00 PM

By CANDIA DAMES
Guardian News Editor
candia@nasguard.com
With the government pushing a plan to borrow$58 million from a Chinese bank to build a new highway on New Providence, Progressive Liberalâ Party(PLP)MPs intend to use today's debate on the loan resolution to raise the alarm over the growing national debt amid ongoing economic uncertainties.
The most recent Central Bank report placed the national debt at just under$4 billion. Prime Minister Hubert Ingraham has said previously that before the end of the current economic downturn, government debt-to-GDP will likely exceed 50 percent.
The Ingraham administration intends to enter into aconcessional loan agreement with the Export-Import ...

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