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HomeNewsRegional NewsGrenada - Public debt increased by 5.7% by end of 2021

Grenada – Public debt increased by 5.7% by end of 2021

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by Linda Straker

(Now Grenada) – At the end of 2021, Grenada’s public debt increased by EC$113.2 million. This 5.7% increase moved the debt from EC$1,988.5 million to EC$2,101.6 million.

“This is attributable to new borrowing as a result of the Covid-19 pandemic, oversubscriptions allowed on the Regional Governments’ Securities Market (RGSM), disbursements on new and existing loans and a new Government-guaranteed loan contracted by a State-owned enterprise,” explained the latest Public Debt Bulletin which is published on the Ministry of Finance website.

The report did not name the state-owned enterprise. There are over 20 state-owned entities, including Housing Authority of Grenada, National Water and Sewage Authority, National Lotteries Authority, and Spicemas Corporation.

The bulletin said that by the end of 2021, the total stock of debt was 70.6% of Gross Domestic Product. “It comprised of Central Government’s external and domestic debt and to a lesser extent domestic Government-guaranteed debt,” it said.

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