Nation News, 3/22/2010: Prepare for loss, investors told

PEOPLE WHO HAVE invested millions of dollars in CLICO International Life’s investment instruments should prepare themselves to take a hit.

Ronald Harford, chairman of Republic Bank Limited, the parent company of Barbados National Bank, cautioned that he was not fully aware of all the details of CLICO Barbados’ operations but suggested that getting back their initial investments should be more important to CLICO clients at this stage than insisting on interest payments due.

While I am sure that Barbadian Prime Minister David Thompson has a good grasp of what is happening with CLICO, it remains to be seen what he can do to mitigate this disaster.