Senior insurance executive Edward Clarke is urging Government to reconsider the “punitive” debt restructuring terms it has offered pensioners and other individual bondholders.
He is also concerned financial institutions are so “severely impacted” by the domestic debt exchange programme there will be “some negative impact on the capital funding in Barbados”.
Clarke, who is executive vice president and general manager of Sagicor Life Inc.’s Barbados operations, told THE NATION that while domestic creditors had until tomorrow at 5 p.m. to respond to the debt offer, it was important for Government to find a way to ease individual investors.
“The individuals who have invested in Government bonds [face] significant impact and I believe that there is a need to review . . . how people will be impacted,” Clarke said. (SC)
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