• Today
    December 16

  • 02:18 PM

Higher fees likely

SANKA PRICE, sankaprice@nationnews.com

Added 29 September 2018

money-currency-barbados

Barbadians may have to shell out more cash for user fees.

Increased user fees and staff cuts could be in the offing as local banks and insurance companies seek to recoup their losses suffered under Government’s debt restructuring programme.

That programme offers to swap Government’s financial instruments on which it has defaulted – Treasury Bills, Treasury Notes, debentures, bonds and loans – for new debt instruments which maintain payment of creditors’ principal, but will pay less interest and take longer to mature.

Though president of the Barbados Bankers Association Donna Wellington said she was “not at liberty to discuss this at this time”, veteran banker Harold Russell said the banks are incurring heavy losses from the debt restructuring and would seek to recoup that money.

“They will try to make it up . . . by increasing their fees, by reducing their branches, by reducing their staff, by improving on their computerisation; things like that,” said Russell. (SP)

Subscribe now to our eNATION edition.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

The public service vehicle community is upset over new uniforms provided by the Transport Authority. Do you think the new uniforms are a good idea?

Yes
No

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM