Bajan PM eases squeeze for pensioners

PM Mia Mottley(Barbados Nation) Prime Minister Mia Mottley has thrown a lifeline for pensioners feeling the squeeze under Barbados’ domestic debt restructuring programme.On Tuesday, she announced that pensioners 60 years and over who had matured Government savings bonds would get a lump sum of $20 000 “in cash” tomorrow and a further $30 000 by March next year.Overall, Government would ensure that those with up to $250 000 invested recoup their money in four years, slashing the uncertain 15-year period that was first announced.“In March next year, we will come again and give them another payout and we hope to pay them another $30 000. We are also going to take the rest of their holdings to the extent that they have up to $200 000 in debt. We will transfer $200 000 of that 15-year-instrument into a four-year bond which will amortise monthly,” Mottley said in an interview with moderator David Ellis on Starcom Network’s Down To Brass Tacks. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)RelatedB’dos Gov’t puts temporary freeze on borrowingJanuary 14, 2019In “latest news”Barbados PM given ultimatum to ease tax squeeze or face national shutdownJuly 13, 2017In “latest news”Regional leaders congratulate new Barbados PMMay 25, 2018In “latest news” read more