PM hoping to have debt refinanced

Millions of dollars in government debt racked up during the COVID-19 pandemic will be refinanced with the help of international lending agencies, if Prime Minister Mia Mottley has her way.

The announcement comes days before the start of Mottley’s tenure as co-chair of the International Monetary Fund (IMF) and World Bank’s Development Committee, and as her administration desperately seeks avenues for employment and economic development amid the ongoing pandemic.

On Thursday evening, she explained that the cost of medical equipment, refurbishments to the isolation facilities, and assisting the National Insurance Scheme over the last eight months, had taken a significant toll.

“We want the COVID debt refinanced, because if we can get it refinanced in long-term debt, and we can get a moratorium where you don’t have to service it for seven years, it means that we will be able to buy more equipment, buy more buses, build houses and do all of the things that we need to do in this country to create jobs and to give you opportunity,” the Prime Minister declared while on a political platform at Newbury, St. George.

According to Mottley, the COVID-19 crisis had set the country back significantly just months after the country had successfully settled its external debt situation. In response, the PM indicated that she was making a case for special concessions to be made for developing countries that have been economically ravaged by the pandemic.

Additionally, Mottley has promised to make a case within the international community for frontline workers in tourism dependent developing countries like Barbados to receive first choice when a COVID-19 vaccine becomes available. She noted that an internationally recognized workers’ representative like BLP candidate Toni Moore would be ideal for pursuing such matters.

“I am saying that as a tourism dependent country, we need to be able to put tourism workers and travel workers and immigration workers… and all of them on the front line of getting the vaccine, because these are the people who are out there representing us. And this is not just idle talk,” the Prime Minister assured.

During the political rally in support of St. George North Barbados Labour Party (BLP) by-election candidate Toni Moore, Mottley revealed that the government had just agreed to purchase thirteen new electric buses and plans were in place to manufacture ten more locally.

The political leader further announced a proposal to hire approximately 500 community home-helpers to assist elderly citizens throughout the COVID crisis. The initiative is strikingly similar to the school monitors programme that was rolled out on Tuesday for the first time. According to Mottley, the new programme would provide a cheaper alternative to placing them in existing elder care facilities.

“We as a Government have decided to think out of the box. Why can’t we pay these people a stipend of $400 a week to help take care of people who in any event, they would have normally done so in neighbourhoods and communities?” asked Mottley.

“We are going to make sure in the same way that primary school monitors are in a job designed to ensure the little children don’t do things that will make them overly exposed, these people would go and work with the elderly. They are getting decent work and the country is delivering a service to the people who built this country at a fraction of the cost that it would take to house them at the Geriatric Hospitals and private nursing homes,” the PM explained.

“We believe that it is necessary now because more than ever, you need to make sure that you keep these persons who raised us safe against this pandemic. You need to make sure that you don’t send them to the shop going on the road for any and everything leaving them exposed,” she added.
kareemsmith@barbadostoday.bb