Barbados PM establishes committee to curb ‘egregious contracts’

(Barbados Nation) Prime Minister Mia Mottley has established a special committee as Government seeks to ensure investors are not granted “egregious contracts” and concessions.

Mottley, alluding to the issue between her administration and Sandals over concessions for its proposed Beaches project, said while times were hard, Government would not be participating in “a race to the bottom.”

She was speaking in Washington DC on Friday while participating in a panel discussion on multilateralism at the Council for Foreign Relations during the International Monetary Fund (IMF)/ World Bank spring meetings.

The Prime Minister told the international audience of the major economic problems Barbados faced and how the authorities were fixing them, including through the Barbados Economic Recovery and Transformation programme and IMF programme.

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