Minister of Finance Chris Sinckler is arguing that Barbados is not indebted to the CARICOM Development Fund (CDF).
At a CDA meeting in Barbados last week, CARICOM chairman Dr Keith Mitchell called on Barbados and other member countries owing the CDF to pay up, in light of the recent devastation caused in some islands by Hurricanes Irma and Maria.
But Sinckler pointed out yesterday it was the island’s assessed contribution to the regional fund that was outstanding. He explained Barbados was one of the CARICOM member countries classified as “more developed” which were contributors to the CDF, set up under the Revised Treaty of Chaguaramas to provide technical assistance to disadvantaged countries, regions and sectors in the community.
Antigua and Barbuda, Belize, Dominica, Grenada, St Lucia, St Kitts and Nevis and St Vincent and the Grenadines are classified as Less Developed Countries (LDCs) and disadvantaged countries in CARICOM. (GC)
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