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US$85 000 a month

Sanka Price

US$85 000 a month

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THE MIA MOTTLEY ADMINISTRATION will save more than a billion dollars in principal and interest savings in its restructuring of Barbados’ debt, but it is paying a high price for the advice to achieve it.

According to the engagement letter available on Parliament’s website, Government has agreed to pay White Oak Advisory Ltd US$85 000 (BDS$170 000) per month to help Barbados navigate the situation.

The engagement letter, dated last May 30, between the globally-recognised company and Government was laid in Parliament at the start of the recently concluded annual Estimates Debate on February 18. It was laid by Minister in the Ministry of Finance Ryan Straughn, for public record in response to Opposition Leader Bishop Joseph Atherley’s request for information about it. (SP)

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