Legislators critical as external debt nears ceiling

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.