{"id":96445,"date":"2013-06-28T14:46:45","date_gmt":"2013-06-28T18:46:45","guid":{"rendered":"http:\/\/dominicanewsonline.com\/news\/?p=96445"},"modified":"2013-06-30T10:12:27","modified_gmt":"2013-06-30T14:12:27","slug":"dominicas-national-debt-revealed-external-debt-biggest-chunk","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/business\/dominicas-national-debt-revealed-external-debt-biggest-chunk\/","title":{"rendered":"Dominica&#8217;s national debt revealed; external debt biggest chunk"},"content":{"rendered":"<figure id=\"attachment_58456\" aria-describedby=\"caption-attachment-58456\" style=\"width: 221px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-58456\" alt=\"Direct of Audit Clarence Christian\" src=\"http:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2012\/03\/clarence-christian.jpg\" width=\"221\" height=\"221\" srcset=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2012\/03\/clarence-christian.jpg 262w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2012\/03\/clarence-christian-150x150.jpg 150w, https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2012\/03\/clarence-christian-1x1.jpg 1w\" sizes=\"auto, (max-width: 221px) 100vw, 221px\" \/><figcaption id=\"caption-attachment-58456\" class=\"wp-caption-text\">Direct of Audit Clarence Christian<\/figcaption><\/figure>\n<p>Dominica national debt stands a little bit over $700-million with an external debt of over $500-million.<\/p>\n<p>This was revealed by director of audit, Clarence Christian, on state-owned DBS Radio&#8217;s Talking Point.<\/p>\n<p>There has been much discussion on the island&#8217;s debt recently on social media and blog pages, with some saying it stands at over $1-billion.<\/p>\n<p>But based on Christian&#8217;s disclosure, this does not appear to be the case.<\/p>\n<p>According to him Dominica&#8217;s debt stands at $702, 080,779.<\/p>\n<p>He breaks it down as follows:<\/p>\n<p>Domestic debts (bonds) &#8230;&#8230;&#8230;&#8230;$118,916,069<br \/>\nDomestic debts (treasury bills)&#8230;..$44,189,000<br \/>\nDomestic debts (loans at banks)&#8230;.$32,388,825<br \/>\nExternal debts (loans)&#8230;&#8230;&#8230;&#8230;.$520,936,599<br \/>\nValue of unpaid checks&#8230;&#8230;&#8230;&#8230;.$3,397,391<\/p>\n<p>He explained that unpaid cheques are cheques that are in the treasury and have not been collected.<\/p>\n<p>Christian went on to say that there is something called &#8216;domestic contingent liabilities&#8217; which forms part of the national debt.<\/p>\n<p>According to him domestic contingent liabilities are loans guaranteed to statutory corporations and bodies but they are not paid by the national treasury; they are instead paid by the coporations and bodies.<\/p>\n<p>This is broken down as follows:<\/p>\n<p>Domestic contingent liabilities &#8230;.$58,273,851<br \/>\nExternal contingent liabilities ..$17,755,903<\/p>\n<p>&#8220;So if you add the central government debt and the debt of the statutory corporations, this makes a total national debt of $878, 110,733,&#8221; Christian said.<\/p>\n<p>&#8220;This is about 68 percent of gross domestic product,&#8221; he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Dominica national debt stands a little bit over $700-million with an external debt of over $500-million. This was revealed by director of audit, Clarence Christian, on state-owned DBS Radio&#8217;s Talking Point. There has been much discussion on the island&#8217;s debt&#8230;","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[18],"tags":[],"class_list":["post-96445","post","type-post","status-publish","format-standard","hentry","category-business"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dominica&#039;s national debt revealed; external debt biggest chunk - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/business\/dominicas-national-debt-revealed-external-debt-biggest-chunk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dominica&#039;s national debt revealed; external debt biggest chunk - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"Dominica national debt stands a little bit over $700-million with an external debt of over $500-million. This was revealed by director of audit, Clarence Christian, on state-owned DBS Radio&#8217;s Talking Point. There has been much discussion on the island&#8217;s debt...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/business\/dominicas-national-debt-revealed-external-debt-biggest-chunk\/\" \/>\n<meta property=\"og:site_name\" content=\"Dominica News Online\" \/>\n<meta property=\"article:published_time\" content=\"2013-06-28T18:46:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-06-30T14:12:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2012\/03\/clarence-christian.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"262\" \/>\n\t<meta property=\"og:image:height\" content=\"262\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/dominicanewsonline.com\\\/news\\\/homepage\\\/news\\\/business\\\/dominicas-national-debt-revealed-external-debt-biggest-chunk\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dominicanewsonline.com\\\/news\\\/homepage\\\/news\\\/business\\\/dominicas-national-debt-revealed-external-debt-biggest-chunk\\\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\\\/\\\/dominicanewsonline.com\\\/news\\\/#\\\/schema\\\/person\\\/51a62154b494e84510be75e846b1cf55\"},\"headline\":\"Dominica&#8217;s national debt revealed; 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