Minister in the Ministry of Finance, Dr Ubaldus Raymond, is warning that tough decisions have to be made to ensure proper debt management. According to Dr Raymond, while the government knew that the country was facing serious financial challenges, the full extent of the problem became more evident during the crafting of the budget. The debt to GDP ratio, he says, is currently about 80/20 – the higher 80 percent being debt. He says the government has a solid plan to tackle debt management but reiterates that there is no getting around making tough decisions to manage existing debt and balance the country’s revenue and expenditure.
