Government is misusing, mismanaging and abusing debt, says Opposition Senator, Ryan Walters.
“This level of borrowing and the way in which this Government is treating to the borrowing is not sustainable for our future generations,” Senator Walters told the Senate recently.
He charged that, “between June 2018 and September 2025 government is reported to have borrowed $7.341 billion”. He added that Minister in the Ministry of Finance Ryan Straughan had reported that between June 2018 and September this year government paid $9.64 billion of debt.
“Mr President, at June 2018, the gross public sector debt as per the Central Bank was $16.065 billion,” he added.
“If you add the money borrowed by this government, $7.34 billion and you subtract the government claimed to have paid or repaid, $9.643 billion, the result is $13.763 billion. The Central Bank report at September 2025 shows gross public sector debt at $14.876 billion Mr President,” Senator Walters said.
“That is a gap of $1.1 billion based on this government’s assertions. Of what they borrowed and what they paid.”
He added: “Mr President, they must come and answer to this difference because this is a material difference,” the Senator added.
Walters said” People are scared of the debt. People are concerned. They (Government) are kicking the can down the road,” he said.
Walters said Government had allocated $120 million to upgrade the medical facility used during the COVID-19 pandemic to a medical tourism facility.
He said the site was currently being used to provide accommodation for construction workers. (HH)
