Tuesday 7 July, 2020

PM Mottley: Foreign Reserves climbing

Prime Minister Mia Mottley says the country’s foreign reserves stand at over $1.2 billion; three times what they were a year ago when she inherited the government.

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She disclosed as she delivered the feature address at the Barbados Sustainable Energy Conference 2019, under the theme: Roadmap to 2030, at the Hilton Barbados Resort, where she noted the increase in oil prices would be the biggest claim on the reserves.

Mottley stressed Barbadians must transition over the next decade to vehicles powered primarily by electric or any new forms of technology.

“But, whatever it is, the bottom line is that the days of a fossil fuel-driven economy are going to have to be put behind us,” she stated.

The Prime Minister said Government would not allow the country to be held to ransom by the vagaries of international economic shocks concerning oil prices.

 

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