Finance Minister Dr. Nigel Clarke says 90 percent of outstanding debt to the export-import (EXIM) Bank of China, will be repaid in 10 years.
He says 99 percent of the loans secured from china on behalf of Jamaica, are at fixed interest rates of two and three percent, which are among the lowest interest rates in the entire loan portfolio.
The minister was speaking at Latin Finance’s 3rd Caribbean Finance and Investment Forum, in Kingston, yesterday.
Dr. Clarke said loans from China represent 3.9 percent of Jamaica’s 2 trillion dollar debt.