All calculations (including those published by the IMF at the programme’s outset), indicated serious sustainability concerns at the terms offered. I will not review here again the vexed question of guaranteed and unguaranteed bank debt.
Ladies and gentlemen, a number of people have commented on the $ million bond that was issued by the Government in September 2006 due for repayment in September 2011. Their concern, rightly so, is whether we have the capability to repay this loan.