Browne Says Government to Clear Small Debts by Month-End, Settle Larger Arrears with Bonds

Prime Minister and Antigua and Barbuda Labour Party leader Gaston Browne says the government will clear all outstanding payments under $20,000 owed to local suppliers and contractors by the end of the month, while larger debts will be settled through a mix of cash payments and long-term bonds.

Speaking on Pointe FM’s Browne and Browne Show, Browne outlined a plan to address longstanding arrears, some dating back decades, as part of efforts to regularise government payments and support local businesses.

“Anything under $20,000 will be eliminated in full,” Browne said, adding that “every single creditor to the government will have their debts… extinguished” for amounts below that threshold.

For larger sums, Browne said the government will make partial upfront payments and convert the remaining balances into bonds.

“We’ll do a combination of bonds and cash,” he said. “We give them a bond over maybe a 10-year period with some interest.”

He explained that in cases where significant sums are owed, creditors could receive between 10% and 20% in immediate cash, with the remainder paid over time through government-issued bonds that would generate periodic interest payments.

“The larger ones, we’re making payments to everybody,” Browne said, indicating that no creditors would be excluded from the settlement plan.

The prime minister said the government has already allocated more than $20 million toward clearing outstanding obligations and is continuing to process payments on a rolling basis.

He also addressed delays in back pay to public servants, saying over $30 million has been set aside to settle those payments, which he expects to be completed by the end of the month.

“The money is there… the issue is about the treasury staff having enough time to process these transactions,” Browne said, noting that calculations must be verified individually for thousands of workers.

Browne urged patience from those still awaiting payments, saying disbursements are being made weekly across various departments.

The initiative is part of a broader effort by the government to reduce arrears, improve cash flow management and strengthen confidence among local contractors and suppliers who rely on timely payments for their operations.