The letter from Credit Suisse confirming payment.
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MINISTER OF FINANCE Chris Sinckler has dismissed Opposition claims that Barbados defaulted on a major international loan, lamenting that the accusation had investors concerned.
On June 28 at a political meeting, Opposition Leader Mia Mottley asserted: “Information is being hidden from you in this country and . . . if the Budget was called one month later, [Sinckler] would not report to you that the foreign reserves are in the good condition, because the Credit Suisse loan has to be paid on the June 18 and as of Friday, it still was not paid and that is $88 million.”
But delivering a Ministerial Statement on the issue yesterday in the House of Assembly, Sinckler said that on June 18, Government repaid $41.23 million of the US$225 million loan it borrowed from Credit Suisse LLC more than a year ago. (SC/GE)
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