State entities not meeting financial reporting obligations barbadostoday.bb - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barbadostoday.bb Daily Mail and Mail on Sunday newspapers.
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Acting Director of National Insurance Scheme (NIS), Jennifer Hunte, says the Unemployment Fund was exhausted in 2020 and had to be refinanced from the NIS Fund.
During Wednesday’s COVID-19 management update which focused on the theme
COVID-19: Your Workplace and You, Hunte said the overall NIS portfolio remained strong and the organisation would continue to meet its obligations to Barbadian workers.
She revealed that from 2017 through 2019, the NIS paid $32.8 million, $38.1 million and $49.3 million, respectively, from the Unemployment Fund, but in 2020 they disbursed $155.5 million.
“So comparatively, you can see the impact of COVID-19 on the future in 2020,” she said.
Barbados unemployment fund exhausted due to pandemic pressure jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.