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OVER $20B SPENT IN CLICO BAIL OUT

by | Apr 2, 2014

Larry-HowaiIt has cost this country’s taxpayers over $20 billion  in settlement coming out of the CL Financial collapse.

Minister of Finance, Larry Howai made the revelation while responding to a question on the Order Paper in the Senate this morning.

However, Mr. Howai said the cost was a necessary one.

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Minister Howai added that the government expects settlements to be reached by the end of the July.

He noted that the government is in the process of recovering money already spent.

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