Government might be strapped for cash on some occasions, but Finance Minister Chris Sinckler says the state has never defaulted on local or foreign debt.
Responding to rumours that Government might have failed to meet its debt obligations to local creditors or debt holders, Sinckler insisted: “The Government of Barbados has never defaulted on a debt – so I don’t know where that has come from – either local or international. Governments from time to time have cash flow problems and payments may be delayed from this agency or the other, but that cannot be considered to be a default on debt.
“That is definitely not the case and I would like to dispel that before we go too far.”
Speaking yesterday at a Press conference at Government Headquarters, Bay Street, The City, to discuss the economy, Sinckler revealed that Government was likely to go to international market to borrow soon. (GE)
