Former Central Bank governor Dr DeLisle Worrell has been “engaged” as economic advisor to a group of external creditors who are unhappy with Government’s foreign debt restructuring.
This was revealed by an official involved in discussions on behalf of foreign commercial creditors who have not been paid by Government since June 1.
The Barbados External Creditor Committee, which was established in June to represent the interests of a group of institutional holders of Eurodollar bonds and other external commercial debt facilities issued by Barbados, yesterday urged Government to “engage in good faith negotiations to resolve the external commercial debt default”.
At the same time, a foreign official participating in the debt talks confirmed Worrell, who was fired from his Central Bank post in February last year, “is indeed serving as an economic advisor to the committee”.
Efforts to reach Worrell were unsuccessful, but the official told the Saturday Sun: “He was engaged following the formation of the committee to help assess and analyse the Government’s financial objectives and the reform programme. It is another indication of the committee’s strong desire to negotiate in good faith to cure the default and support the long-term credit rehabilitation of Barbados.” (SC)