Minister of Finance, Dr. Peter Phillips, says Jamaica will meet all it’s upcoming obligations under the National Debt Exchange, NDX and the International Monetary Fund, IMF.
Speaking at yesterday’s PNP mass rally in Halfway Tree, Kingston, Dr. Phillips said, unlike the past JLP government of 2007-2011, his party will honor’s its economic commitments.
Some $62-billion worth of bonds are set to mature under the NDX this month.
Under the NDX, financial institutions and Government bond holders were required to exchange their existing bonds for those with longer maturities and at lower interest rates, as part of the agreement with the IMF.
Jamaica has thus far passed all 10 of its tests under IMF led Economic Reform Programme. Dr. Phillips gave his assurance yesterday that the 11 test will be passed.