BLP CLICO plan ‘no good’
THE BARBADOS LABOUR PARTY’s (BLP) stated plan to repay CLICO policyholders cannot happen and any solution must be done systematically in liaison with the Eastern Caribbean, Minister of Finance Chris Sinckler has said.
Stating that $837 million had to be found to satisfy investors with executive flexible premium annuities and other policyholders, Sinckler said while Government believed they should get all their money, Barbados simply could not “break for itself”.
He revealed, in the most impactful speech of Wednesday night’s presentation of candidates and cultural rally in Passage Road, St Michael, that he and Prime Minister Freundel Stuart had met with regional prime ministers, who had made it abundantly clear that if Barbados ever tried to break for itself, they would put this country in court.
“There are policyholders all down the Eastern Caribbean who have policies and want their money too. So if Barbados believes it is going to run off and only deal with Barbadians and leave the rest to suffer, you could expect that lawsuits will follow,” he told the crowd that covered the sprawling Murphy Pasture that became a sea of yellow and blue flags waving to the music of Mr Dale, Natahlee and other artistes.