Financial news in the Caribbean

UWI debt worry

BY TONY BEST | FRI, DECEMBER 13, 2013

If Bajans in and outside Government are hoping their country would get an easy passage over the $150 million debt owed to the University of the West Indies (UWI), they should think again.

Professor Nigel Harris, UWI vice-chancellor, has made it clear that the region’s educational institution was very concerned over the Government’s inability to reduce its debt to the university and it intends to press Barbados “aggressively” to pay up.

“The situation over the debt has not changed. The situation over the outstanding amount owed by Barbados was pretty bad and we are struggling along,” the vice-chancellor told the WEEKEND NATION in an exclusive interview in New York.

“I have never doubted the wish and the commitment of the Barbados Government to meet this expense. I have never had a conversation with them in which they shied away in terms of their commitment to meet the obligation.

“But where the difficulty lies is actually making it happen. The Government has promised but I am very concerned that it is still not happening, even if it a small amount being paid, and when I say small, some portion, even if one would say a third of the amount that is owed.

“After all, there are some basic things that need to be paid for at the Cave Hill campus of the University,” Harris asserted.