Guyana will have to repay approximately 4.75 per cent interest on the whopping $30 billion bond it secured recently to revitalise the operations of the three estates which fall under the management of the Guyana Sugar Corporation (GuySuCo) or all of the assets and companies owned by the National Industrial Commercial and Investment Limited (NICIL) could be lost.
A source close to the Finance Ministry’s Special Purposes Unit (SPU) told Guyana Times that while the interest rates secured would appear to be very favourable, the implications of failing to consistently repay the bond and related interest rates would be dire.
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