Pay Day for Many People in Barbados

  • As of today, pensioners and other holders of Government paper will start getting monthly payments as Government seeks to reduce its national debt.
  • The Minister explained the payments are a follow on to lump-sum payments made last year and that the action was in keeping with what the ministry had promised in the mini-Budget of June last year.
  • Minister of Finance, Ryan Straughn explained: “The debt of the country is one of those areas where you have to be constantly addressing in order to keep the economy stable. These commitments I believe will provide greater levels of stability. We will be well on our way to reducing the debt to GDP to 60% over the next 14 years.”

 (Source: Barbados Today)