Government of SVG to extend aspects of the COVID-19 Stimulus & Recovery Package

The government of St. Vincent and the Grenadines (SVG) has found it necessary to extend aspects of its COVID-19 Stimulus & Recovery Package to support the process of economic recovery.

This was disclosed by Minister of Finance, Hon. Camillo Gonsalves during Parliament on Monday (June 22).

He informed that the displacement supplementary income payments to hospitality workers and the unemployment benefit to other unemployed workers will be made for an additional three months.

A total of 2,596 Vincentians are receiving income support through the displacement supplementary income or the unemployment benefit.

Gonsalves also informed of the way forward for severance payments.

“The government intends to consult with employers and the labour movement regarding a further extension to the time beyond which a terminated employee is entitled to severance.”

“…While we recognize the tremendous challenges that laid off employees are currently facing and the legal obligation to pay severance, the fact is that the majority of the 395 closed businesses would be unable to make severance payments to their entire workforce at this time. We hope to reach an amicable and equitable solution to this issue in consultation with the employers and employees and their representatives in the coming weeks,” Gonsalves outlined.

The Finance Minister informed that 395 businesses across SVG have closed their doors or terminated services due to the effects of COVID-19.