Finance Minister Dr Ashni Singh yesterday tabled two orders in Parliament seeking the lifting of the ceilings for domestic and external debt.
The proposed increase in the debt ceilings aims to avert the dependency on utilising the Consolidated Fund overdraft as a means of financing, which was done under the APNU+AFC administration, a release from the Ministry of Finance said.
Singh tabled two orders in Parliament proposing adjustments to the two ceilings. It was proposed that the domestic public debt ceiling be increased to $750 billion, up from $500 billion from its last revision. Meanwhile, a new external borrowing ceiling of $900 billion was proposed, after its last increase to $650 billion.