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Vol 61 No 1

Published 9th January 2020


Point of no return

Public finances head south while the Patriotic Front clamps down on dissent ahead of next year’s election

The ruling Patriotic Front's continued state of denial about the country's dire debt situation sees the year begin with loan defaults, dwindling state revenues, disintegrating public services and unpaid civil service salaries. The government's failure to make a €6 million loan repayment on its military transport aircraft – one of a raft of delayed loan payments, including to Chinese lenders – signals immense pressure on the state coffers. Debt is expected to worsen this year and approach 100% of GDP.

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