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    October 23

  • 11:03 AM

$74m in arrears

SHAWN CUMBERBATCH, shawncumberbatch@nationnews.com

Added 09 October 2018

moneycurrencyforeign

Government has racked up about $74 million in arrears to foreign commercial creditors.

That’s based on new information released by the International Monetary Fund (IMF). It said the amount was accumulated between June 1, when Government suspended debt payments to these entities, and the end of last month.

The news came as a foreign group representing several external creditors on Monday announced that on September 26, it submitted a “financial restructuring proposal” to Government.

Rafael M. Molina is managing partner of London-based law firm Newstate Partners LLP. That entity, and Arnold & Porter LLP in Washington DC, are representing an unknown number of foreign creditors. (SC)

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