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UWI warning on $400m debt


UWI warning on $400m debt

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SADDLED WITH A $400 million debt, half of which is owed by Barbados, the University of the West Indies is reaching a financial crossroads that could adversely affect its operations.

And the Cave Hill Campus can be hard hit if the Government in Bridgetown fails to eliminate or significantly reduce its arrears of $200 million. sir-hilary

That warning came from Sir Hillary Beckles, the University’s Vice Chancellor, who told the Nation in New York that the mountain of debt “was almost 30 per cent of our operational budget” and it was causing “a fair measure of damage on some critical aspects” of the university.

“The public might not be aware of how a resource shortage can affect a university,” said Sir Hillary, until recently principal of the Cave Hill Campus. (TB)

Please read the full story in today’s Daily Nation, or in the eNATION edition.