I note with interest the recent announcement by the Central Bank's Governor that Clico paid $4bn in cash this week and will transfer $3bn worth in assets from three companies totalling more than 40 per cent of the debt owed to the Government.
This is a remarkable achievement. However, the public needs more information as to how Clico would have gained $4bn in cash to pay back since it collapsed six years ago. This is suggesting that Clico made profits in the tune of $4bn to be used for this repayment. Further, are these two payments on schedule as to the agreement of the bailout, is it before time, after time?How soon can the public expect the remaining 60 per cent that Clico owes the Government and by extension the people of T&T? Please enlighten the taxpayers who funded this bailout.
B Smith
via e-mail