$90m owed to UWI
Barbados is now the most indebted of the 17 participating governments in the Cave Hill Campus of the University of the West Indies, owing $90 million.
Principal Sir Hilary Beckles said yesterday: “We know that the Government is hurting. We are hurting very badly. It is a very difficult environment so I believe that with very skilful decision making and clear thinking, we can get through this.”
He said: “This recession has obviously placed the Government in a very difficult situation in terms of its fiscal deficit, in terms of measuring its cash flow. So what we are doing is working very closely with the Government.”
The debt is in the form of tuition fees and economic costs of the students.
The university has attracted $50 million from the international community to fund faculty research in the last three years and $80 million in the last seven years, Sir Hilary said.
Read the full story in today’s DAILY NATION.