Guyana’s public and publicly assured (PPG) debt surged dramatically in 2024, reaching US$5.993 billion, a 167% improve from US$2.239 billion in 2023. This important rise in debt was revealed by Finance Minister Dr. Ashni Singh throughout his finances presentation on Friday, underscoring the federal government’s aggressive borrowing technique.

Regardless of this improve, Singh emphasised the federal government’s continued dedication to accountable debt administration. Over the previous 4 and a half years, the federal government has maintained a observe report of sustainable public debt, even amidst its formidable growth plans.
Singh highlighted that the PPG debt totaled US$5,993.8 million by the tip of 2024, largely as a consequence of web inflows from each exterior and home collectors. Nevertheless, he famous that Guyana’s debt-to-GDP ratio has improved considerably, reducing by over 20 proportion factors from 47.4% on the finish of 2020 to 24.3% on the shut of 2024. This substantial enchancment demonstrates Guyana’s rising capability to handle public debt with out requiring giant fiscal changes. With this discount, Guyana now boasts one of many lowest debt-to-GDP ratios globally, rating second within the Western Hemisphere.
The nation’s fast GDP progress has been pivotal in decreasing the debt-to-GDP ratio. Exterior PPG debt on the finish of 2024 stood at US$2,239 million, with main initiatives corresponding to street enhancements, the development of latest hospitals, and army plane procurement contributing to the online inflows from exterior collectors. Home PPG debt rose to US$3,754.8 million from US$2,733.4 million in 2023, pushed by new treasury payments.
Complete debt service funds elevated to US$196.1 million in 2024, up from US$177.5 million in 2023, reflecting larger funds to exterior collectors. Notably, exterior debt service grew to US$124.9 million, whereas home debt service decreased to US$71.2 million because of the completion of bond repayments.
Singh additionally famous that Guyana’s public debt liquidity strengthened, with the debt service-to-government income ratio falling from 8.5% in 2020 to five.2% in 2024, showcasing the federal government’s enhanced capacity to fulfill its debt obligations.
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