Barbados is awaiting word from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) on whether it will receive a payout following heavy flooding over the weekend.
The update from Minister in the Ministry of Finance and Economic Affairs, Ryan Straughn, came as he spoke from the floor of Parliament today.
Several communities particularly in Christ Church and St. Michael were inundated with water associated with the passage of Hurricane Tammy.
CCRIF offers member countries a number of insurance policies including against excess rainfall.
Mr. Straughn was speaking as he introduced the Debt (Natural Disaster and Pandemic Deferment of Payment) (Miscellaneous Provisions) Bill 2023.
The Bill paves the way for Government to defer the payment of debt for two years in the event of a significant natural disaster.
About The Author
More Stories
Hotel reporting impressive bookings
Barbados & China sign stadium agreement
Phase one of White Hill project completed