Members of the Barbados Union of Teachers (BUT) were given deeper insight into how the proposed Barbados Optional Savings Scheme (BOSS) would work, as educators began the process of mulling over whether they would participate in Government’s plan to create fiscal space.
Yesterday, more than 500 teachers met with Government’s senior economic advisor, Dr Kevin Greenidge, via Zoom, where teachers were able to ventilate concerns about the plan, which entails public workers agreeing to take a percentage of their salaries in bonds.
The robust discourse ranged from concerns regarding the procedures for opting in and out of the programme to guarantees that investors would receive their monies once the bonds matured in four years.
Teachers were especially mindful that during the debt restructuring in 2018 by the Mia Amor Mottley administration, bondholders took a haircut and they were worried about a repeat of history. (CLM)
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