BARBADIANS have snapped up $45 million in Government savings bonds in recent times and another $25 million worth hit the market yesterday, but former Prime Minister Owen Arthur is warning that buying these instruments in the current climate could be “bad for your health”.
Speaking on Wednesday night during the Budget debate, the former Minister of Finance said “on principle” he could not complain about the issuing of savings bonds since Barbados’ savings rates “are now among the lowest in the world”.
However, he said authorities, including Minister of Finance Chris Sinckler and the Central Bank, “had a duty” to caution investors “that the bonds that they are inviting you to buy have been regarded as not being of an investment grade”.
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