{"id":116231,"date":"2020-09-02T07:25:38","date_gmt":"2020-09-02T11:25:38","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=116231"},"modified":"2020-09-02T07:25:38","modified_gmt":"2020-09-02T11:25:38","slug":"antigua-and-barbudas-revenue-under-pressure-as-a-result-of-covid","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/antigua-and-barbudas-revenue-under-pressure-as-a-result-of-covid\/","title":{"rendered":"Antigua and Barbuda’s revenue under pressure as a result of COVID"},"content":{"rendered":"
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As the novel coronavirus continues to wreak havoc around the world, the economy of Antigua and Barbuda is definitely feeling the pressure. Prime Minister Gaston Browne said that although there are difficulties, the government will do all it can to ensure that payments are met.<\/strong><\/p>

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\u201cJuly would have been a stronger revenue month than August, but not significantly lower,\u201d he said. \u201cWe are still in a position to cover wages and salaries.\u201d<\/p>\n

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\u201cI believe salaries and wages have been paid. Obviously, Social Security continues to struggle to pay pensions and pensions obviously will be delayed, but will be paid,\u201d Browne continued, promising that his administration is doing its best to keep persons employed.<\/p>

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The Customs Department is reported to have seen EC$3 million (One EC dollar=US$0.37 cents) in revenue last month.<\/p>

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Despite the issues, help is coming, as the Chief of Staff Lionel \u2018Max\u2019 Hurst revealed that the government has received a EC$14 million loan from an unnamed \u201cforeign entity.<\/p>\n

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\u201cIt\u2019s a private operation, and they\u2019re prepared to loan us some money in advance of payments which we would normally make,\u201d he said. \u201cIt hasn\u2019t gone through as yet, it\u2019s not complete although we signed all the papers that are required.<\/p>

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\u201cThe Prime Minister signed them on Friday. We anticipate that it will happen one day this week. We are talking about EC$6 million dollars to be delivered between now and the middle of September, and then an additional EC$8 million dollars to be delivered before the end of December.\u201d<\/p>\n

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Hurst said the government is \u201cfinding some creative ways\u201d to meet \u201cthe obligations to our friends from China\u201d, with the China Exim Bank is funding the development at the cargo port here.<\/p>

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Prime Minister Gaston Browne said that although there are difficulties, the government will do all it can to ensure that payments are met.Sponsored<\/p>

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\u201cJuly would have been a stronger revenue month than August, but not significantly lower,\u201d he said. \u201cWe are still in a position to cover wages and salaries.\u201d<\/p>\n

\u201cI believe salaries and wages have been paid. Obviously, Social Security continues to struggle to pay pensions and pensions obviously will be delayed, but will be paid,\u201d Browne continued, promising that his administration is doing its best to keep persons employed.<\/p>\n

<\/div>\n

The Customs Department is reported to have seen EC$3 million (One EC dollar=US$0.37 cents) in revenue last month.<\/p>\n

Despite the issues, help is coming, as the Chief of Staff Lionel \u2018Max\u2019 Hurst revealed that the government has received a EC$14 million loan from an unnamed \u201cforeign entity.<\/p>\n

\u201cIt\u2019s a private operation, and they\u2019re prepared to loan us some money in advance of payments which we would normally make,\u201d he said. \u201cIt hasn\u2019t gone through as yet, it\u2019s not complete although we signed all the papers that are required.<\/p>\n

\u201cThe Prime Minister signed them on Friday. We anticipate that it will happen one day this week. We are talking about EC$6 million dollars to be delivered between now and the middle of September, and then an additional EC$8 million dollars to be delivered before the end of December.\u201d<\/p>\n

<\/div>\n

Hurst said the government is \u201cfinding some creative ways\u201d to meet \u201cthe obligations to our friends from China\u201d, with the China Exim Bank is funding the development at the cargo port here. (Buzz Caribbean)<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

As the novel coronavirus continues to wreak havoc around the world, the economy of Antigua and Barbuda is definitely feeling the pressure. Prime Minister Gaston Browne said that although there are difficulties, the government will do all it can to ensure that payments are met. \u201cJuly would have been a stronger revenue month than August, […]<\/p>\n","protected":false},"author":3,"featured_media":111627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,5],"tags":[],"class_list":["post-116231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"\nAntigua and Barbuda's revenue under pressure as a result of COVID - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/antigua-and-barbudas-revenue-under-pressure-as-a-result-of-covid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Antigua and Barbuda's revenue under pressure as a result of COVID\" \/>\n<meta property=\"og:description\" content=\"As the novel coronavirus continues to wreak havoc around the world, the economy of Antigua and Barbuda is definitely feeling the pressure. 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