Pensioners Relief In Debt Exchange Programme

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Government has made good on its promise under the domestic debt restructuring programme and pensioners 60 years and over will begin receiving a cash payment of up to BDS $20,000 by Monday, November 19. This disclosure came today from Minister in the Ministry of Finance, Ryan Straughn, who said Government had amended the repayment terms for those individuals 60 years …

Financial Management & Audit Act To Be Reformed

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The Financial Management and Audit Act is being reformed in an effort to strengthen existing weaknesses in Government’s financial management system. This news came today from Minister in the Ministry of Finance, Ryan Straughn, as he delivered the feature address at the Annual Conference of the Institute of Chartered Accountants of Barbados (ICAB), at the Lloyd Erskine Sandiford Centre. Mr. …

State Enterprises’ Accounts Must Be Up-To-Date

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Government is seeking to have the audit of accounts of key state enterprises brought up to date by March 31, 2019, under the Barbados Economic Recovery and Transformation Program. This disclosure came today from Minister in the Ministry of Finance, Ryan Straughn, as he delivered the feature address at the Annual Conference of the Institute of Chartered Accountants of Barbados …

Full Confidence In Regional Economists

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Minister in the Ministry of Economic Affairs, Ryan Straughn, has expressed confidence in the economists in this region, saying they have the capacity to solve problems. Mr. Straughn expressed this view today as he delivered the feature address at the 50th Annual Monetary Studies Conference, at Hilton Barbados Resort, which is being hosted by the Central Bank of Barbados and …

Delay In Tax On Online Transactions

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Government will delay the introduction of value added tax on online transactions by two months. This disclosure came today from acting Minister of Finance, Ryan Straughn, who explained that Government was in the process of bringing legislation that would allow the Barbados Revenue Authority (BRA) to delegate authority to a third party for the collection of taxes online. “That legislation …

Savings Bonds Not Affected By Debt Restructuring

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Those persons who bought savings bonds three years ago under the marketing campaign will not be affected by Government’s debt restructuring. Minister in the Ministry of Finance, Ryan Straughn, emphasised this point today, saying Government would protect their interests as all responsible administrations were meant to do. Mr. Straughn made the comments as he delivered the feature address on behalf …

Training For SOE Board Members

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Board members of state-owned enterprises (SOEs) are expected to undergo training in the principles and practices of good corporate governance and anti-money laundering. That is the word from Minister in the Ministry of Finance, Ryan Straughn, who said such training was proposed by that Ministry as a matter of urgency. He continued: “We believe this is critical to Barbados’ ability …

Prime Minister Mottley: Real-Time Data Needed

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Prime Minister Mia Amor Mottley has told accounting officers in the public sector and principals of State-Owned Enterprises (SOEs) that their financial reporting data must be up-to-date. Ms. Mottley; Minister in the Ministry of Finance, Ryan Straughn; Director of Finance and Economic Affairs, Ian Carrington; and senior officials in the Ministry of Finance met on Tuesday afternoon with Permanent Secretaries, …

Barbados & IMF To Begin Negotiations This Week

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Barbados has put together a strong negotiating team and is ready to engage in discussions with the International Monetary Fund’s (IMF) representatives from July 2 to 12. This disclosure has come from Minister in the Ministry of Finance, Ryan Straughn, who said the IMF officials had already started requesting data which Barbados was in the process of finalising. Mr. Straughn …