At a interview yesterday, the President indicated that the disposal of some of the firm’s local assets may go to pay back most of the small policyholders and this will allow the larger policyholders to remain with CLICO Guyana.
With the guarantee already given, the government may discuss with these policyholders the possibility of returning their investment over a period and how much they can earn on the return from their money, he said. “It will still be like a form of investment that they have”, he added.
The President was also surprised that the AFC and the main Opposition People’s National Congress Reform (PNCR), which endorsed the government CLICO Guyana guarantee in the National Assembly, have asked where the money will come from.
“The money has to come from the Treasury but we will do so in such a fashion that it could be US$34M phased out over a 10-year period so it does not become a burden on the Treasury -- and that is if we do not get back anything and we are taking steps to get back some of the money from abroad”, the President explained.
With the guarantee already given, the government may discuss with these policyholders the possibility of returning their investment over a period and how much they can earn on the return from their money, he said. “It will still be like a form of investment that they have”, he added.
The President was also surprised that the AFC and the main Opposition People’s National Congress Reform (PNCR), which endorsed the government CLICO Guyana guarantee in the National Assembly, have asked where the money will come from.
“The money has to come from the Treasury but we will do so in such a fashion that it could be US$34M phased out over a 10-year period so it does not become a burden on the Treasury -- and that is if we do not get back anything and we are taking steps to get back some of the money from abroad”, the President explained.
I want fuh know whose bank account de money went into in florida, lissen dis is no ordinary something, money was transferred, we de people understand wa transfer means, doan try fuh bamboozle we, nex why didn't de lady in charge a clico tun ova all de paperwuk pertaining to de "transfer cum loan cum policy" in the amount of $34M to de goodly minista, somebody get caught wid de pants down, thanks goodness there is a treasury fuh dip yu hands in, dis go be interesting since uncle sam has frozen de money, be a good journalist and check it out!!!Parrot.
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