SVG Public Debt As Of 30 September 2021 Stood At $2,083,671,265

As of September 30^th 2021, the total public debt amounted to two billion and eighty-three million, six hundred and seventy-one thousand, two hundred and sixty-five dollars ($2,083,671,265).

This figure is 13.1 percent more than the total disbursed outstanding public debt for the comparative period in 2020.

The total Domestic Debt which amounted to $525.4 million as of September 30^th 2021 decreased by 1.6 percent or $8.7 million when compared with the domestic debt for the same period in 2020.

The external debt for the period stood at $1.558 billion, an increase of 19.2 percent or $251 million when compared with the external debt as of September 30^th 2020.

The main changes within the domestic debt portfolio over the period are as follows:

1. The balance outstanding on Overdraftsowed by the public sector increased by $0.8 million or 1.6 percent. The Local Loans portfolio fell by 1.4 percent or $1.5 million, as a result of amortization on a number of loans during the period including, an Agricultural Input Warehouse (AIW) loan which was repaid.
2. Total Government Bonds and Notes issued and outstanding over the period decreased marginally by $0.1 million.

As of September 30^th 2021, there was an increase in the external debt by $251.3 million or 19.2 percent when compared to 2020.

The main drivers accounting for this change in the external indebtedness of the Government are; the supplemental financing to the second Reform & Resilience Development Policy Credit (of $135 million), the second Fiscal Reform & Resilience Development Policy Credit (CAT-DDO of $54.0 million) both from IDA, the Caribbean Regional Digital Transformation Programme ($3.9 million), the OECS MSME Guarantee Facility Project ($2.7 million), the Regional Disaster Vulnerability Reduction Project ($27.3 million), the Human Development Service Delivery Project ($5.9 million).

Net repayments were recorded on a number of external loans during the period. Some of the more significant ones are:

1. 1. $1.3 million repaid on a number of EIB loans;
   2. $6.8 million repaid on ROC loans;
   3. $1.9 million repaid on loans owed to the ALBA
   4. $1.6 million paid on loans from CARICOM Development Fund (CDF)
   5. $11.6 million paid to Bondholders

The Public Debt as of September 30^th 2021 is comprised as follows:

Total debt service for 2021 is estimated at $271.9 million or 41.9 percent of the Current Revenue.  The Debt Service requirements for 2021 are made up of:

Interest Payments $ 74.1 m

Amortization $182.9 m

Sinking Fund Contributions $  22.0 m

$279.0 m