$41M Paid Out In Domestic Debt Restructuring

• The government of Barbados recently paid out BDS$41 million to pensioners 60 years and over under the domestic debt restructuring programme.
• This disclosure has come from Minister in the Ministry of Finance, Ryan Straughn, who said $7 million of that amount was interest. He explained that the pensioners each received a cash payment of up to $30,000.
• “This recent payment has delivered financial relief to 377 pensioners who were fully paid out in March 2019, while an additional 1,123 received $30,000,” he stated.
• Straughn added that pensioners with $200,000 or less would receive 42 equal payments of the principal from April 30, 2019, and those with over $250,000 would be paid over the remaining 11 years.

 (Source: GIS Barbados)