07-25-2017, 05:40 PM
Due to the startling news story about the ambulance from JonTom, and a little searching, I found a 2013 story
https://www.theguardian.com/global-development/poverty-matters/2013/apr/16/jamaica-decades-debt-damaging-future
"Jamaica has repaid more money ($19.8bn) than it has been lent ($18.5bn), yet the government still "owes" $7.8bn, as a result of huge interest payments. Government foreign debt payments ($1.2bn) are double the amount spent on education and health combined ($600m)."
I know I QUOTED, in olden times, that 65% of government income was used to pay just the interest on outstanding debt so note that the above quote is more recent, plus the IMF has been pleased with progress for several years , even though I haven't been of the loans and gifts from China.
Some people (?) don't like the rules/conditions the IMF establishes. But I have to laugh when I read "It would really help us out if we didn't have to pay back the loan." (I made up the quote but not the sentiment.)
https://www.theguardian.com/global-development/poverty-matters/2013/apr/16/jamaica-decades-debt-damaging-future
"Jamaica has repaid more money ($19.8bn) than it has been lent ($18.5bn), yet the government still "owes" $7.8bn, as a result of huge interest payments. Government foreign debt payments ($1.2bn) are double the amount spent on education and health combined ($600m)."
I know I QUOTED, in olden times, that 65% of government income was used to pay just the interest on outstanding debt so note that the above quote is more recent, plus the IMF has been pleased with progress for several years , even though I haven't been of the loans and gifts from China.
Some people (?) don't like the rules/conditions the IMF establishes. But I have to laugh when I read "It would really help us out if we didn't have to pay back the loan." (I made up the quote but not the sentiment.)