Alexa

Antigua seeks $30M loan to weather fiscal crisis

Antigua seeks $30M loan to weather fiscal crisis

Antigua and Barbuda is seeking a $30 million loan from the Caribbean Development Bank to weather the global financial crisis.
Government spokesman Winston Henry says officials are finalizing plans to secure the funds for infrastructure development and job creation.
The government will also ramp up unemployment benefits for those in the ailing tourism industry, which has shed roughly 200 jobs in recent weeks.
Henry said Monday that Prime Minister Baldwin Spencer could temporarily suspend income tax payments for struggling islanders. Income tax nets the government up to $22 million annually.
The twin-island country already was battling to control inflation before the economic downturn.


Updated : 2021-04-17 04:11 GMT+08:00