Prime Minister Mia Mottley has stated that as the country moves forward with its restructuring plans, job cuts in the public sector are inevitable. However, she went on to state that there would be no callous layoffs and that the Government would make provision to cushion the blow for those affected.
Dismissing claims by the former Central Bank Governor, Dr. DeLisle Worrell, that thousands of job cuts would be necessary, Mottley stated that other forms of restructuring would be employed.
This comes on the heels of another credit downgrade by S&P on the country’s global bonds to Default(D)and the local currency rating from CC to Selective Default (SD).
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