Thursday, 23 August, 2012 – The Government of Saint Lucia is now in a position to provide more social services,stimulate economic activity in the country and conduct the general business of the state with parliamentary approval to borrow EC$250,000,000.00.
The loan for which approval was granted during a session of Parliament on Tuesday August 14,2012 will also be used for debt refinancing.
Prime Minister and Minister for Finance Honourable Dr Kenny D Anthony says the funding will enable government to deliver a lot of the services and programmes announced in the 2012/2013 budget.
The motion to authorise the Prime Minister and Minister for Finance to borrow no more than EC$250,000,000.00 stimulated extensive debate and discussion among legislators from both sides of Parliament.
A number of papers were also laid before the parliament including statutory instruments, the Saint Lucia Development Bank 2012 Annual Report,the Financial Statements of the Banana Industry Trust and the Labour Act Commencement Order.
Five bill were also present for the first reading namely the Financial Services Regulatory Authority,International Business Companies,Income Tax,Land and House Tax and the Aliens Licensing Amendments.