The new agreement reduces by 26.3% the original debt and interest past due as well as accrued since October 1, 2019. Now at mid-year that investors’ group said it held about 55% of Barbados’ US$1.5 Billion worth of foreign debt, so that means that a 26.3% reduction is almost US$400 million.
The occasion was a big meeting discussing bankruptcy and how to make it more palatable as a business option when things have gone south, and High Court Judge Jacqueline Cornelius seemed to feel the pain of those faced with the option.
The question, she was wrestling with, said the prime minister, was whether the new cap would go to 100 megawatts or 200 megawatts. And on top of that, she added, the feed-in-tariff ought to apply not just for plants that are one megawatt and under, but for five megawatts and under, in order, she said, “to increase the democratization of the industry.”
I’ve said before in this space that Trisha Tannis, the CEO of Courts operations in Barbados, has been a breath of fresh air (or something like that) since she took up the post of president of the BCCI recently.
The average consumer in Barbados spends just over 60 percent of his or her wages or salary on just three categories: food and drink; housing and utilities; and transport, says the Central Bank of Barbados.
In a full page ad taken out in the Weekend Nation of Aug. 9, the TCL Group, parent company of Arawak Cement Co. Ltd. in Barbados, said it disagreed with the ruling by the Caribbean Court of Justice on the rate to be charged on cement imported from outside the region.