ROSEAU, Dominica, 23 No – Policy holders with the failed Trinidad-based British American Company (BAICO) and the Colonial Life Insurance Company (CLICO), may start to receive refunds under the Executive Premium Annuity (EPA) by Christmas, St. Vincent and the Grenadines Prime Minister Dr. Ralph Gonsalves has announced.
Gonsalves, who is also Chairman of the Organisation of Eastern Caribbean States (OECS), said the issue had been discussed at the Eastern Caribbean Central Bank (ECCB) Monetary Council meeting that ended here on Thursday night ahead of the OECS summit that begins later on Friday.
“We have sourced a US$100 million from Trinidad and Tobago, US$24 million is to come from the CARICOM Petroleum Facility, which strictly speaking is not Trinidad’s money, but which is our money which is in that fund through an arrangement that has been established some time ago”.
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