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May 15, 2020

PM to Mayors: “I am very sorry, but we can’t”

Dean Barrow

As for city and town councils, the Prime Minister Dean Barrow says that they need to figure a way how they rebound from COVID-19. Municipal leaders have been asking Central Government to act as a guarantor for an overdraft facility which mayors say they need in order to mitigate the financial blows of COVID-19. PM Barrow said on Thursday that won’t be possible.

 

Prime Minister Dean Barrow

“They’ve approach the banks on the basis that government is to guarantee their overdraft. I am very sorry, but we can’t. We are talking about overdraft facilities, it’s not even a long-term loan that with some grace period that we could perhaps have a hope of seeing the municipalities begin to repay on themselves and so spearing government from having to find money that it does not have and cannot find. You’re talking about overdraft facilities a continuing thing. That’s as good as asking government to find the money and give it to them and we wish we could, but we can’t. I’m sorry.”


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