Acting Prime Minister and Minister for Finance, Professor Biman Prasad says the repayment of TELS debt will not have any significant effect on government revenue as they are collecting about $6 million a year.
Professor Prasad states that the repayment rate is almost insignificant given the level of debt is over $600 million.
He says on average they are collecting $4-6 million a year and if they are talking about impact, it will be a very small impact of between $5-6 million that is not being repaid anyway.
Students owe $610 million in TELS debt where repayment is currently on hold as the government is finalising the legal amendments required to forgive it.
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