Government of Jamaica Treasury bill
GOJ will pay $73 billion in cash to pay down the national debt in the 2020/21 fiscal year from proceeds of shares sold to the public and surplus funds at Petroleum Corporation that will contribute nearly $6 billion to the projected repayment.
Proceeds from the sale of shares of Wigton and Trans Jamaican IPO and projections from the sale of shares in Jamaica Public Service (JPS) and Jamaica Mortgage Bank will contribute the bulk to the repayment.
According to Minister Clarke, debt will drop to 84 percent for the new fiscal year, from a combination of debt repayment and nominal growth in Gross Domestic Product. The Government will raise roughly $13 billion from the sale of shares in JPS and Jamaica Mortgage Bank. The primary surplus is reduced to 5.4 percent from 6 percent, for the 2021 fiscal year and will free up $25 billion.
