Professor Hilary Beckles, Vice Chancellor of the University of the West Indies (UWI), has said regional governments are clearing arrears to the institution.
Professor Beckles said progress is being made in recouping millions of dollars following the decision by CARICOM leaders to have St. Kitts Prime Minister Timothy Harris negotiate settlement of the receivables with fellow prime ministers.
He said a number of countries, especially in the Eastern Caribbean, have paid significant blocks of revenue into the UWI.
Professor Beckles noted that the university has proposed to the Government leaders that where they cannot give cash, performing assets would suffice to strengthen the UWI's balance sheets and improve future revenues.
In July, the UWI reported that the outstanding amounts stood at US$200 million.