The Antigua & Barbuda Government has announced that it is seeking to raise US$200 million on the European Stock Market in a bid to acquire the Jolly Beach Hotel, which closed its doors nearly two years ago.
The hotel owes both the government and workers millions of dollars in outstanding taxes and severance.
Minister of the State within the Ministry of Finance Lennox Weston said he expect the funds to come from the European source within the next two or three weeks.
He added that the government could conclude the purchase of the hotel within the next four to eight weeks and the workers will be paid within that timeframe.
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