Legislators critical as external debt nears ceiling

Keorapetse
Keorapetse

Opposition legislators are against government’s proposal to authorise a Water Utilities Corporation (WUC) P1.5 billion loan from the World Bank. They argue that it will unnecessarily push the country closer to the national debt ceiling prescribed by law.

By law, government can only borrow maximum of 20% of the gross domestic product (GDP) from external markets and another 20% from the domestic sources. External debt is currently at 18% and the new WUC loan would push it closer to the ceiling.

According to Members of Parliament, government should reduce unnecessary expenditure and should consider other options like borrowing from domestic commercial banks or even prioritising projects according to their urgency.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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