Gov’t Considers Exchanging Lands with NHT for Budgetary Support

Minister with responsibility for Information, Senator the Hon. Sandrea Falconer, says the Government is looking at the option of providing the National Housing Trust (NHT) with lands in exchange for the $44 billion contribution from the Trust to support the national budget.

Addressing the weekly Jamaica House press briefing on Wednesday, February 27, Minister Falconer stated that the NHT is always in need of lands for housing solutions, and that “the Government does, in fact, own thousands of acres of land, which could be of benefit to the Trust”.

She said discussions are ongoing over whether this kind of transaction could be an option, and would further inform the public when these talks are concluded.

The Government will be utilising $11 billion per annum for four years from the NHT for budgetary support.

This is part of a number of measures being taken to ensure that the country signs an agreement with the International Monetary Fund (IMF).

An IMF deal will allow access to critical funding as well as indicate to other multi-lateral partners that the Government is prudently managing its fiscal affairs. It will also boost investor confidence.