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Central Bank backs NIS move

Geralyn Edward

Central Bank backs NIS move

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The controversial use of National Insurance Scheme (NIS) funds by Government has been defended by the Central Bank of Barbados.
Making the argument that Government debt was now the safest investment around, the Central Bank made special mention of the matter in its review yesterday of the Barbados economy for 2011.
The comments came as the bank said Government financing from the NIS this year was projected at about 38 per cent of the country’s financing needs.
Minister of Finance Chris Sinckler last week revealed that the NIS had approved a $60 million request for support of the stalled Four Seasons project on the West Coast.
Read the full story in today’s MIDWEEK NATION.