Latin American Economy & Business - July 2018 (ISSN 1741-7430)

It has been a baptism of fire for the government led by Mia Motley, elected on 24 May. Although the incoming administration knew it faced economic challenges, a reassessment of the public debt burden – which put liabilities at 175% of GDP, higher than the previously estimated 135% of GDP – prompted the government to suspend external debt payments from early-June.