Removing our deficit drivers: The Mottley Committee

The UWI continues to challenge the narrative that its deficits are due to mismanagement; but rather the issues that negatively impact its financial well-being are largely around the cost of the post-employment benefits, particularly the Federated Superannuation System for Universities (FSSU) Pension Supplementation Scheme, which is currently unfunded, and the cost and impact of impairments, particularly of Governments and students’ receivables.

In March 2021, the Special Committee of the UGC, chaired by PM of Barbados, the Honourable Mia Amor Mottley, was convened to examine the origins and impact of deficit drivers in the consolidated accounts of The UWI, and to make recommendations to treat with those issues.

At a meeting held on April 7, 2021, the UGC approved the Special Committee’s recommendations, which were also ratified by the University Council on July 30, 2021.

Recommendations made for immediate, mid- and long- term action/consideration include:

  • Pension reform
  • Student loan reform
  • Assets for cash exchange
  • Negotiations for concessionary interest rates for loans

The members of the Special Committee include:

  • The Honourable Mia Mottley – PM and Minister of Finance, Economic Affairs and Investment, Barbados – Chair
  • The Honourable Gaston Browne – PM and Minister of Finance and Corporate Governance and Public-Private Partnerships, Antigua and Barbuda
  • The Honourable Colm Imbert – Minister of Finance, Trinidad and Tobago and Chairman of the University Grants Committee
  • Dr. The Honourable Nigel Clarke – Minister of Finance and the Public Service, Jamaica
  • Mr. Andrew Skerritt – Permanent Secretary, Office of the PM, St. Kitts and Nevis
  • Mr. Ian Carrington – Director of Finance and Economic Affairs, Ministry of Finance, Economic Affairs and Investment, Barbados
  • Mr. Dodridge Miller – President & Chief Executive Officer, Sagicor
  • Mr. Isaac Solomon – Vice President, Operations, CBD (Representing Dr. William Warren Smith, President)
  • Mr. Daniel Best – Director of Projects, CDB (Representing Dr. William Warren Smith, President)