Public Debt

General category

Local authorities in Jamaica in order to contract debt have to request the Ministry’s approval although this practice has been scarcely used.

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Art. 3

(1) Notwithstanding the provisions of any other law, on and after the commencement date, the raising off all loan for on behalf of the government, and the giving of guarantees with respect to the repayment of loans by any public body shall be governed by this Act.  (2) No loan borrowed ...

Art. 8

(2) The functions of the Public Debt Financing Committee, in relation to the management of the public debt shall be to- d) review the evaluations of funding requests by specified public bodies (4) For the purposes of this section “specified public body” means  (a) a statutory body or au...

Art. 11

(1) For the purposes of section 9, the Minister may enter into an agreement with any person, financial institution, international financial organization, or foreign government,, in such manner and on such terms as he thinks fit. ...

Country

Instrument Types:

  • External resource
    Public debt
Access / Authorization
Source of resources
Distribution
Limits
Art. 26

(1) Subject to the provisions of this section, a Local Authority may, with the approval of the Minister responsible for finance, borrow any sums required by it for meeting any of its obligations or discharging any of its functions.  (2) Any borrowing by a Local Authority under this sect...

Destination
Art. 26

(1) Subject to the provisions of this section, a Local Authority may, with the approval of the Minister responsible for finance, borrow any sums required by it for meeting any of its obligations or discharging any of its functions.  (2) Any borrowing by a Local Authority under this sect...