Social Security Board Defends $20 Million Loan Amid Opposition Criticism

Social Security Board Defends $20 Million Loan Amid Opposition Criticism

The Social Security Board (SSB) says that contrary to comments made by Opposition Senator Michael Peyrefitte, its’ 20 million dollar loan to the Development Finance Cooperation is justifiable. During Monday’s special sitting of the Senate, Peyrefitte objected to the loan motion and stated that there was no need for the government to seek funding from the SSB and questioned the viability of the loan given the DFC’s past. Chief Executive Officer of the SSB, Deborah Ruiz, says, however, that the SSB has ensured guardrails were set in place to ensure the loan is repaid. Ruiz also stated that it is a part of the SBB’s mandate to seek loan opportunities. 

The loan motion was ratified in the Senate this past Monday.

Related post

Atlantic Basin Braces for Above-Normal Hurricane Season, NOAA Predicts 17-25 Storms

Atlantic Basin Braces for Above-Normal Hurricane Season, NOAA Predicts…

The National Weather Service in the United States has sound the alarm to those in the Atlantic Basin to prepare for…
Toledo Communities Battling Wildfires, Area Representative Oscar Requena Provides Update

Toledo Communities Battling Wildfires, Area Representative Oscar Requena Provides…

As many can begin preparing for the upcoming hurricane season, residents in the south are battling with the wildfires that have…
Cayo District Reports Wildfires Amid Unusual Dry Season and Extreme Heat

Cayo District Reports Wildfires Amid Unusual Dry Season and…

Wildfires have also been reported in portions of the Cayo District.  The destruction, however, has been minimal compared to the situation…

Leave a Reply

Your email address will not be published. Required fields are marked *