The opposition People’s National Party is raising concerns over the government’s latest financial move to securitise future revenues from the Sangster International Airport in St. James.
In statement on Friday, Opposition Spokesman on Finance, Julian Robinson, warned the move signals a lack of a coherent economic growth strategy.
Montego Bay Airport Revenue Finance Limited, MoAir, has announced plans to issue up to US$385 million US in senior secured notes.
The proceeds, according to rating agency Fitch, will go toward various government expenditures, including water infrastructure and general budgetary support.
Mr. Robinson is cautioning that while securitisation can be a legitimate financing tool, its increasing use represents a dangerous trend.
Pointing to the government’s own medium-term projections, Robinson pointed to a bleak outlook, with growth expected at 2.2 per cent in 2025/26 and just 1 per cent annually through 2028-29.
He’s calling for greater transparency around the deal.
Julian Robinson, Opposition Spokesman on Finance and the Public Service.
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