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BIPA: Nothing firm on Clico

BEA DOTTIN, [email protected]

BIPA: Nothing firm on Clico

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The Barbados Investors and Policyholders Alliance (BIPA) says it feels betrayed by Government after a Budget presentation that gave no final answer to repaying the $854 million owed to CLICO policyholders.
Chairperson June Fowler said yesterday the 35 000 Barbadians who were anxiously waiting for an announcement of a resolution were no more informed or any closer to seeing light at the end of the tunnel following the four-hour presentation by Minister of Finance Chris Sinckler on Tuesday.
“The disturbing absence in the Budget of any significant disclosure signalling further movement towards the promised June 2012 resolution to the CLICO debacle” was a “giant slap in the face” of policyholders, Fowler said in a statement.
“BIPA is adding this latest betrayal to the litany of previous unfulfilled promises and empty reassurances. At least we know the Minister of Finance reads THE NATION and is into recycling because every word he spoke, we had all already read in a series of articles published in its pages months ago, together with proposals put forward in detail last year by the judicial manager,” she said. (PR/DP)