New agreement gives NIS access to millions to invest internationally

The National Insurance Scheme and the Central Bank of Barbados have reached a new agreement, allowing the NIS to access 40 million US dollars this year to invest internationally.

This effort is part of the Revitalisation Reform Plan for the fund, and the hope is that the agreement can be renewed annually.

Senator Rawdon Adams, Deputy Chairman of the NIS Board, explains what this new agreement means and why it’s important.

He noted that based on the agreement, the NIS is hoping to increase the overall yield on the portfolio from 4.5% to 6%.

He adds that while investing in Barbados’ development is important, the NIS must not put all of its eggs in one basket.

About The Author