Sunday, March 3, 2024

Mia: Bad move by Bank

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LEADER OF THE OPPOSITION Mia Mottley has accused the Central Bank of “printing” money to the detriment of the stability of the economy and the private sector.

The charge was made during her contribution to debate in the House of Assembly Tuesday on the Savings Bonds (Validation) Bill 2016, giving legal effect to the issuance of bonds and the raising of monies between June 1, 2015 and the date of commencement of the Savings Bonds (Amendment) Regulations 2016.

Mottley said while the Opposition would not oppose the validation bill, she was concerned that the Central Bank was holding $1.128 billion in Government paper – an amount that was zero when the current administration took office in 2008.

However, she said the debate could not be divorced from what was happening with respect to the rest of Government’s paper and the need for that paper. (AB)

Please read the full story in today’s Daily Nation, or in the eNATION edition.

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