Prime Minister the Hon. Gaston Browne on Tuesday, met with representatives of Credit Unions and Micro Financiers on the island to continue a series of discussion on how the country can have a collaborative position on attacking the Coronavirus pandemic that is affecting the world.
- Prime Minister Browne provided the representatives of the financial institutions with an update on his government’s fight to prevent the spread of the virus in Antigua and Barbuda and some of the steps it has taken to lessen the effects of the down-turn in the economy as a result of the pandemic.
He requested of the financiers ideas on how they can assist in the government’s efforts and made an appeal to them to invest in projects on the islands in order to maintain a vibrant economy during this slow period. The country heavily depends on tourism, and as a result of the Coronavirus pandemic, a number of hotels have closed their doors along with a number of business places that heavily depend on tourist arrivals.
The country’s leader requested of the financiers to consider moratoriums on loan repayments and waiver of fees up to a period of six months or less. He also inquired of the institutions of their plans to protect staff employment and safety.
The financiers presented a number of proposals to Prime Minister Browne, which he said he will present to Cabinet for discussion when the body meets on Wednesday. Prime Minister Browne advised the financiers that his government will continue to engage them as the nation grapples with the Coronavirus pandemic.