Reports Say Grenada Government Requesting $10 Million Loan From NIS

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Published on Wednesday, 28 November 2012 11:19

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(Caribbean News Now): ST GEORGE’S, Grenada -- The Grenada government, which has admitted to a cash flow problem, is again looking to do some borrowing from the National Insurance Scheme (NIS), according to a news report on Tuesday.

“Sources on the board of the NIS say government has made a request for another EC$10 million as it struggles to meet its wage bill for yet another month,” Caribupdate News Service said in an online report from St George’s.

“It is the third time the government is turning to the body in a disastrous fiscal year for the Tillman Thomas administration. The board is to decide in days on the request, but one director reported of members going sour on the constant requests.”

Caribupdate News said ministry of finance officials had not made themselves available for comment on the latest report of the request for assistance from NIS.

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