SAGICOR FINANCIAL CORPORATION is prepared to work with the Barbados Government in the event it is forced to restructure its debt.
However, Ravi Rambarran, Sagicor Financial Corporation’s group executive vice-president for corporate strategy and investor relations, made it clear that debt restructuring was not an option that the regional financial services company was advocating.
He explained that if circumstances forced the island to make such a significant decision given its heavy debt burden, the company would suggest the model chosen by the Jamaican government that did not involve a haircut on the principal debt.
In a recent interview with the DAILY NATION, he revealed that as a group, the company was the region’s largest holder of government debt. (GE)
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