{"id":273727,"date":"2026-04-21T15:49:07","date_gmt":"2026-04-21T19:49:07","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=273727"},"modified":"2026-04-21T15:49:08","modified_gmt":"2026-04-21T19:49:08","slug":"pm-browne-announces-plan-to-wipe-out-small-debts-issue-bonds-for-larger-sums","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/pm-browne-announces-plan-to-wipe-out-small-debts-issue-bonds-for-larger-sums\/","title":{"rendered":"PM Browne Announces Plan to Wipe Out Small Debts, Issue Bonds for Larger Sums"},"content":{"rendered":"
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Browne Says Government to Clear Small Debts by Month-End, Settle Larger Arrears with Bonds<\/strong><\/p>

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Prime Minister and Antigua and Barbuda Labour Party leader Gaston Browne says the government will clear all outstanding payments under $20,000 owed to local suppliers and contractors by the end of the month, while larger debts will be settled through a mix of cash payments and long-term bonds.<\/p>\n\n\n\n

Speaking on Pointe FM\u2019s Browne and Browne Show, Browne outlined a plan to address longstanding arrears, some dating back decades, as part of efforts to regularise government payments and support local businesses.<\/p>

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\u201cAnything under $20,000 will be eliminated in full,\u201d Browne said, adding that \u201cevery single creditor to the government will have their debts\u2026 extinguished\u201d for amounts below that threshold.<\/p>

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For larger sums, Browne said the government will make partial upfront payments and convert the remaining balances into bonds.<\/p>\n\n\n\n

\u201cWe\u2019ll do a combination of bonds and cash,\u201d he said. \u201cWe give them a bond over maybe a 10-year period with some interest.\u201d<\/p>

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He explained that in cases where significant sums are owed, creditors could receive between 10% and 20% in immediate cash, with the remainder paid over time through government-issued bonds that would generate periodic interest payments.<\/p>\n\n\n\n

\u201cThe larger ones, we\u2019re making payments to everybody,\u201d Browne said, indicating that no creditors would be excluded from the settlement plan.<\/p>

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The prime minister said the government has already allocated more than $20 million toward clearing outstanding obligations and is continuing to process payments on a rolling basis.<\/p>

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He also addressed delays in back pay to public servants, saying over $30 million has been set aside to settle those payments, which he expects to be completed by the end of the month.<\/p>\n\n\n\n

\u201cThe money is there\u2026 the issue is about the treasury staff having enough time to process these transactions,\u201d Browne said, noting that calculations must be verified individually for thousands of workers.<\/p>\n\n\n\n

Browne urged patience from those still awaiting payments, saying disbursements are being made weekly across various departments.<\/p>\n\n\n\n

The initiative is part of a broader effort by the government to reduce arrears, improve cash flow management and strengthen confidence among local contractors and suppliers who rely on timely payments for their operations.<\/p>\n

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

Browne Says Government to Clear Small Debts by Month-End, Settle Larger Arrears with Bonds Prime Minister and Antigua and Barbuda Labour Party leader Gaston Browne says the government will clear all outstanding payments under $20,000 owed to local suppliers and contractors by the end of the month, while larger debts will be settled through a […]<\/p>\n","protected":false},"author":3,"featured_media":162475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-273727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured"],"yoast_head":"\nPM Browne Announces Plan to Wipe Out Small Debts, Issue Bonds for Larger Sums - 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\" 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