Everything but the Truth
This blog by Afra paints a picture of the challenge ordinary citizens are likely to encounter even if Freedom of Information laws are active on the books. How can we describe our islands as governing using a democratic system and our members of parliament – servants of the people – show commitment to the money class over the populace who they are mandated to serve?
Have we had the same obfuscation and lack of transparency in Barbados regarding the CLICO Affair as well?
On 1st June 2014, my former colleague and Business Guardian Editor, Anthony Wilson, made a call for a ‘national debate’ on the proposed disposal of CLICO’s traditional portfolio of insurance business. This is the first of my responses.
We are now entering the chaotic endgame of this epic CL Financial bailout fiasco. Some of the recent official statements are –
- CL Financial’s other assets, including majority shareholdings in Republic Bank Limited and Methanol Holdings to be sold;
- Full repayment of Public Money advanced in this bailout is expected.
- CLICO’s traditional insurance policy portfolio is being professionally valued prior to its intended disposal;
- Atrius Ltd., set up in 2013 as an alternative vehicle for CLICO’s continuing business, is to be effectively abandoned;
- All of CLICO’s sales agents are to be terminated by the end of this month, June 2014;
The recent statements of both the Minister of Finance and the Governor…
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