Sinckler: Policyholders Receiving Payments

Sharon Austin Top Stories

Some policyholders have started to receive payments on some of the instruments they had with the old CLICO, which is now being managed by Resolution Life Assurance Company Limited. This disclosure came today from Minister of Finance and Economic Affairs, Christopher Sinckler, after he toured Resolution Life, located at Worthing Centre, Worthing, Christ Church, and held discussions with its Executive …

Government & IDB Sign Tourism Industry Loan

Sharon Austin Top Stories

Government has signed a US$20 million loan with the Inter-American Development Bank (IDB) for a National Tourism Program, which is expected to give Barbados’ tourism industry a necessary fillip. Minister of Finance, Christopher Sinckler, and Chief of Operations at the IDB, Francisco Javier Urra, signed the document last Friday, at Government Headquarters. The Program, which will be implemented over a …

New System To Be Put In Place For Tax Refunds

Sharon Austin Top Stories

A system is to be put in place to ensure Barbadians can receive their tax refunds. This disclosure came today from Minister of Finance, Christopher Sinckler, as he addressed the launch of the Barbados Revenue Authority’s (BRA) Tax Administration Management Information System (TAMIS), at the Lloyd Erskine Sandiford Centre. Mr. Sinckler said: “I have therefore instructed the Ministry of Finance, …

Prime Minister: Fiscal Deficit On The Decline

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Barbados’ fiscal deficit is on the decline. This news has come from Prime Minister Freundel Stuart, who said that preliminary estimates suggested that, compared to the previous fiscal year, the decline was sizeable, despite there being some setbacks. Mr. Stuart made the comments on Wednesday as he addressed the Business Luncheon of the Barbados Chamber of Commerce and Industry at …

Cabinet Approves Sustainable Recovery Plan

Sharon Austin Top Stories

Cabinet has approved the Barbados Sustainable Recovery Plan, which is expected to be laid in Parliament shortly. This disclosure has come from Minister of Finance and Economic Affairs, Christopher Sinckler, who said there were just one or two consultative things that had to be done with the Social Partnership. He added, however, that there was general buy-in and sign off …

Barbados Has New Central Bank Governor

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Cleviston Haynes has been appointed as Governor of the Central Bank of Barbados. Minister of Finance and Economic Affairs, Christopher Sinckler, pursuant to the powers vested in him under Section 11 (1) of the Central Bank of Barbados Act CAP 323C of the Laws of Barbados, and with the concurrence of the Cabinet of Barbados, approved the appointment of Mr. …

Sir Courtney Blackman – A Visionary Leader

Joy-Ann Gill Top Stories

Barbados’ first Central Bank Governor, Sir Courtney Blackman, has been hailed for his exemplary leadership and for carving out an economic model for Barbados, in the few years after Independence, that transformed the island into a modern society and economy, with the naming of the Grande Salle at the Tom Adams Financial Centre, in his honour. Sir Courtney, whose pioneering …

Government Committed To 2-1 Exchange Rate

Joy-Ann Gill Top Stories

The two to one peg which Barbados has held with the United States dollar since the advent of our own Central Bank, will be maintained. This assurance came as Minister of Finance and Economic Affairs, Christopher Sinckler addressed those gathered at the Frank Collymore Hall, last Friday evening, to witness the naming of the Grande Salle after the first Governor …

Balanced Approach To Granting Concessions

Sharon Austin Top Stories

This island’s Minister of Finance, Christopher Sinckler, believes there must be a “balanced approach” to governments granting tax concessions to investors. Mr. Sinckler said that while officials should never “give away too much” in concessions, they should also never push themselves out of the market by not offering the necessary opportunities to investors because this would make them look elsewhere. …

Gov’t Signs Loan Agreement With CAF

Sharon Austin Top Stories

Government today signed a loan agreement with the Latin American Development Bank (CAF) for US$15 million to finance Barbados’ Tax Administration Infrastructure Reform Programme. Shortly before signing the document, Minister of Finance, Christopher Sinckler, said the programme would be implemented over a two-year period at a cost of US$18.93 million, with Barbados providing US$3.93 million in counterpart funding. Mr. Sinckler …