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Government yet to pay US$190m loan

Deputy Prime Minister and Treasury Charles Abel today presented to Parliament a copy of the Loan Facility Agreement.

The loan was executed on July 29, 2016 with an amount of US$500 million to finance the Budget deficit.

Deputy PM Abel clarified that under the Loans and Assistance (International Agencies) Act, Section 2 (7) the Minister must present to Parliament a copy of the loan agreement after the execution of the loan agreement.

Abel added that from the US$500m credit facility, the State has already drawdown US$310 in two separate tranches.