Hon. Denzil L. Douglas, speaking at a Face to Face Town Hall Meeting said Government was satisfied that once the debt reduction programme that is set with the help of the regional and international agencies, the goals of bringing the debt within manageable range will be achieved.

On the issue of the national debt, Prime Minister Douglas said his administration has always been up front on this issue. We have had to undertake large investments to improve the infrastructure in order to attract foreign investment capital. We have also spent heavily on the health system providing a social safety net for the less fortunate, as well as the upgrade and modernisation of our education system, said Prime Minister Douglas.

We even shared critical information with them and concluded that the Government was pursuing an active programme to bring down the national debt. The Government is working with the Caribbean Development Bank and other international agencies in this regard, said Dr. Douglas, who outlined the Governments strategy in dealing with the debt.

Prime Minister Douglas, who is also the Minister of Finance said that the strategy include increasing the growth rate within the economy in the short to medium term while keeping inflation under control.

The Hon. Shawn Richards, who is the current elected representative for Constituency Number Five, would manage the Ministries of Finance, Economic Planning and Industry and Commerce. Richards said that “our economic affairs and social conditions are in critical need of corrective measures”.

“Contrary to popular belief, our public debt that is 179 percent of [Growth Domestic Product] is not the result of any meaningful development, but rather is a serious threat to our development. “The credit facilities and negotiation capacity that we need to refinance the public debt and reestablish credibility with our creditors will only come with a new PAM government in office,” he stated.