Government Treasury Bill Rate Lowest In 28 Years

Prime Minister Bruce Golding said that the Treasury bill interest rates are now at a 28-year low, a positive effect of the Jamaica Debt Exchange Programme on the economy.
Mr. Golding highlighted this during his address at the opening ceremony of Expo Jamaica at the National Arena yesterday (June 17).
“Treasury bill rates are now under 10%….The last time we saw Treasury bill rates at this level was 28 years ago. Last year June treasury bills were quoted at 19% and therefore it is a significant fundamental shift that has been made.”
The Prime Minister noted that government’s success in managing its own spending had greatly contributed to these achievements.
“We don’t have that voracious appetite anymore. We have curbed our expenditure….I am assured that we are fully funded for June and for next month we are going to have to go to the market but what we are going to the market for next month is roughly 25% of what we would have been going to the market on a monthly basis for last year. When we are not out there gobbling up that money, that money will have to find work.”
Prime Minister Bruce Golding speaking at the Opening Ceremony of Expo Jamaica which opened at the National Arena yesterday, June 17. The event will continue until June 20.
Expo Jamaica is the marketing platform of the Jamaica Manufacturers Association and the Jamaica Exporters Association (JMA/JEA) to leverage international interest in the country’s tourism, creative industries and sporting achievements in order to promote buyer interest in a range of locally developed goods and services.