Debt/GDP ratio too high...foreign debt restructuring needed

[Don1]

Barclays Capital says JA need to restructure its debt

An international investment firm says Jamaica may need to restructure its debt again to avoid default.

Barclays Capital says the country's debt load remains high at 126% of Gross Domestic Product after it swapped US$7.8 billion of local bonds for securities with longer maturities and lower interest rates in February.

Barclays Capital is an international investment bank with a presence in major markets around the world.

In a report to clients on Wednesday, Alejandro Grisanti, Barclays Analyst in New York, said Jamaica is still on a non-sustainable fiscal path and will need to restructure its debt sometime in the future.

In addition, he said the capture of accused drug lord Christopher “Dudus” Coke will not solve gang violence that is harming tourism and draining revenue from the budget.

[Willi]

What will be harming tourism is that stupid green tax the UK is proposing for air travel!