The Government of Antigua and Barbuda has formally initiated high-level negotiations with the Republic of Trinidad and Tobago regarding the structured repayment of a longstanding financial debt. The outstanding sum, totaling approximately US$60 million, originates from the collapse of the Colonial Life Insurance Company (CLICO), a major regional insurer headquartered in Trinidad.
This financial obligation has been a persistent point of diplomatic and economic discussion between the two Caribbean Community (CARICOM) member states for over a decade. Prime Minister Gaston Browne’s administration is now advocating for a clear, mutually agreeable repayment schedule to resolve the issue, which has significantly impacted thousands of Antiguan policyholders and investors who suffered losses following CLICO’s 2009 financial collapse.
The resolution of this debt is viewed as critical not only for providing restitution to affected citizens but also for strengthening bilateral relations and fostering greater financial stability within the Eastern Caribbean Currency Union (ECCU). The Antiguan government emphasizes that a structured settlement would demonstrate regional solidarity and a commitment to honoring financial commitments, thereby setting a positive precedent for inter-governmental debt management in the Caribbean.