Prime Minister Mia Motley revealed the decision to a crowd, Reuters reported.
At dawn on Tuesday, Barbados became the latest republic in the world by liberating it from the authority of the British Crown, in an official ceremony attended by the Crown Prince of the United Kingdom, Prince Charles, during which his mother, Queen Elizabeth II, was stripped of her position as President of this country.
During the ceremony, the governor-general of the Caribbean island, Sandra Mason, was sworn in as president of the fledgling republic, and the British crown flag, which represented the subjugation of Barbados to the authority of Queen Elizabeth II, was lowered, AFP reported.
Barbados held its first presidential election in October, 13 months after declaring its constitutional separation from the British crown.
The nascent republic, known for its magnificent beaches and considered the pearl of the Lesser Antilles with its population of about 287,000, will henceforth confront on its own the economic impact of the COVID-19 pandemic on tourism, and the inequalities inherited from the colonial past.
The establishment of a republic in this small Caribbean nation, independent since 1966, came after years of local campaigning and long debates over centuries of British influence punctuated by two hundred years of slavery.
Before the spread of Corona, the island, known for its clear waters, was visited by more than a million tourists every year.
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