SIDS need financing- Straughn - Barbados Today barbadostoday.bb - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barbadostoday.bb Daily Mail and Mail on Sunday newspapers.
March 9, 2021
Government is to spend $109 million in the coming financial year’s national budget to fight the COVID-19 pandemic, said Minister in the Ministry of Finance Ryan Straughn.
In providing a sneak peek into the Estimates of Revenue and Expenditure for the 2021–2022 fiscal year to be laid in Parliament Tuesday, Straughn told
Barbados TODAY this sum forms part of projected current spending of $3.1 billion and an overall spending budget of $3.3 billion for the next financial year beginning April 1.
It will be the first time that the Estimates budget will be formally allocated a line item on COVID spending, as the pandemic reached Barbados a month before the start of the current financial year.
Debt ease discussions on
Article by February 27, 2021
As the local financial services sector prepares to consider a possible second moratorium on loans and mortgages for customers dislocated by income losses and jobs due to COVID-19 lockdowns, banks and credit unions are today reporting successes during the first grace period.
The Barbados Bankers’ Association (BBA) and the Barbados Cooperative & Credit Union League (BCCUL) said they were able to meet the requirements of their customers during that first repayment ease.
In March last year when Prime Minister Mia Mottley was concluding debate on the
Estimates of Revenue and Expenditure in Parliament, she announced that commercial banks would be offering a six-month ease on the repayment of loans and mortgages to individuals and businesses whose jobs were in jeopardy as well as businesses affected by the COVID-19 economic downturn.
Straughn says new payment system not an IMF demand barbadostoday.bb - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barbadostoday.bb Daily Mail and Mail on Sunday newspapers.
Article by Social Share
Government has moved closer to facilitating an electronic system of payments across the board with the passage of the National Payment System Bill 2021.
Introducing the bill in the House of Assembly today, Minister in the Ministry of Finance Ryan Straughn said it would create the framework for a “national payments ecosystem” designed to employ technology in financial business transactions and thereby reduce the use of cheques and cash.
The bill also provides for the use of a common electronic payment vehicle that can in the future be used for both local and international business transactions.
Straughn also encouraged Barbados’ pensioners to have their pension payments deposited to bank accounts.