Government Refutes Claims On Heritage and Stabilization Fund

Government says despite withdrawals from the Heritage and Stabilization Fund in the past seven plus years, the net asset value of the fund is “virtually the same as it was in September 2015.”

This is according to Finance Minister Colm Imbert who refuted claims by a newspaper article that the Fund suffered a US$913 million loss in 2022.

Minister Imbert clarified that the Net Asset Value of the Fund was US$5.466 billion as of last Friday, representing an increase of US$754 million in the “actual value” of the fund over the last nine months.

He said excluding a deposit made in December 2022, the Fund has generated an income of almost US$600 million since then.

Based on the article, Prime Minister Dr. Keith Rowley said there continues to be a deliberate attempt to publish misinformation, noting that Government will continue to correct these wrongs.

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