GOVERNMENT IS STICKING to its $56 million promise to the policyholders of CLICO and British American Insurance Company (BAICO).
Minister of Finance Chris Sinckler told the DAILY NATION that as soon as the judicial manager was given the go-ahead by the High Court, the money would be released by the Treasury for dissemination to policyholders, some of whom had been waiting since 2009 to recoup their losses after CLICO collapsed.
Sinckler said the money being injected would not be a problem for the cash-strapped Barbados Government.
“Yes, we will stick to what we said we would deliver. The money is being held by the Central Bank of Barbados. It can’t be used for anything else,” he said. (BA)
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