Dr. Godwin Friday

St. Vincent and the Grenadines' Prime Minister announced a debt swap strategy to reduce borrowing costs, addressing a national debt of 113% of GDP and debt servicing consuming 39% of government revenue, while pursuing concessional international funding.

Saint Vincent and the Grenadines government proceeds with establishing a National Development Bank despite IMF warnings about fiscal risks, upfront costs, and contingent liabilities, prioritizing electoral promises over cautious financial counsel.