Friday, April 19, 2024

Govt starts talks with debtors

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Government has started to have preliminary discussions with several entities it is indebted to.

Minister in the Ministry of Finance Ryan Straughn told the Sunday Sun that after these discussions reach an advanced stage, priority would be given to repayment but it would be a phased process since the country is $1.2 billion in debt, dozens of agencies are owed, and the adjustment period under the Barbados Economic Recovery Transformation (BERT) programme is underway.

The minister was reluctant to provide a list of the entities owed, saying they wanted to treat to the debt as equitably as possible.

 “The truth is the debt is over a billion dollars. The Government owes almost everyone in Barbados,” he admitted. (BA)

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