Yearwood hits out

President of the Democratic Labour Party (DLP), Dr Ronnie Yearwood, is calling on Government to publish the terms of all of Barbados’ international loans.

He made the call while addressing a DLP meeting at the Bush Bar, Pile Bay, St Michael, on Sunday night, responding to an article in the Sunday Sun earlier that day, headlined: Debt Concern: Interest Rates On International Loans Up By As Much As 400 Per Cent.

In recent days, both Prime Minister Mia Mottley and Central Bank Governor Dr Kevin Greenidge expressed concern about the rising rates of the loans which were secured during the COVID-19 pandemic.

“And then you had the admission by the Prime Minster, the Governor and Minister [Ryan] Straughn that somehow the interest rates on these loans are variable.  So you are telling me – that’s one PhD, three degrees, two or three Masters and no one sought to check the loan agreement?” Yearwood asked.

“You are telling me you did not understand the terms of the loan agreement that you were signing . . . and that when you sign a loan you have to see what the interest rates are?” (Nation News)

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