National Debt Exchange

The air of market uncertainty around whether or not there would be another debt restructuring was dispelled with last evening’s update on the IMF negotiations from the Prime Minister and the Minister of Finance. In order to signoff on the long awaited agreement and gain access to an Extended Fund Facility, the government must take certain prior actions. These prior actions include the elimination of discretionary waivers, initiate changes to bring the wage to GDP ratio to 9% by 2015/16, and the most significant initiative, a debt restructuring that will assist in bringing the country’s debt to sustainable levels. With respect to the latter, the Prime Minister announced the launch of a National Debt Exchange (NDX).

 Click here to read more: National Debt Exchange 2013