Hundreds of Barbadians offered a place at the Cave Hill Campus of the University of the West Indies (UWI) are facing the prospects of having that offer rescinded in the wake of dire financial developments at the university, which senior sources there describe as “the campus’ worst nightmare”.
According to the top level sources, who only spoke on condition of anonymity, the jobs of hundreds of employees at the campus might also be in jeopardy after Government’s level of indebtedness to the institution rose to over $150 million recently and campus officials were told the debt would be settled through a four-year repayment plan of $40 million annually, starting in July next year.
The Sunday Sun has learnt that the university recently received a letter from the Ministry of Finance acknowledging the amount owed and setting out the repayment schedule on behalf of the Government.
But UWI’s legal advisers have cautioned that the letter, because of its origin, might not be binding on a returning or new administration.
