MINISTER OF FINANCE Chris Sinckler is mostly unfazed by recent legal efforts to block two big projects Government was banking on to boost the country’s dangerously low level of foreign reserves.
A new 15-storey Hyatt Hotel was in the works for Bay Street, The City, but has been put on hold by way of a High Court injunction granted to political activist David Comissiong who wants to stop the project.
Meanwhile, Rubis Caribbean, which failed in its competitive bid to buy the Barbados National Terminal Co Ltd (BNTCL) from the Barbados National Oil Company, has challenged the proposed US$100 million sale to the Sol Group. It too was granted a temporary injunction by the court.
It was hoped both transactions would have bolstered Barbados’ flagging foreign reserves, which last February were estimated at ten weeks of import cover. (CA)
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