Gov’t to issue fixed rate bonds to repay landowners

8
Gov’t to issue fixed rate bonds to repay landowners
Not the land referred to in the article.
Not the land referred to in the article.
Not the land referred to in the article.

GIS – The Senate has authorized the Minister for Finance to raise sums of EC$8,407,800 and EC$5,092,200 by the issue of fixed rate bonds to Marie Ann Cecilia Francis and the Estate of Oliver Caliste Nicholas Francis to settle outstanding liabilities for the compulsory acquisition of lands.

Leader of Government Business, Sen. Hon. Victor La Corbiniere, spoke to the terms and conditions of the bonds.

“The term of each bond is four years commencing on the 1st day of June 2015 and ending on the 31st day of May 2019. The interest on each bond is fixed at six percent per annum. The interest on each bond is to be repaid in semi-annual interest payments and the principal amount for each bond is to be repaid on the 31st day of May 2019.”

Payments will be made to Marie Ann Cecelia Francis and the estate of Oliver Caliste Nicholas Francis.

(1)(0)

No posts to display

8 COMMENTS

  1. What are the risks involved? St. Lucia has not been doing well. This is risky investment but 6% sounds good.

    (0)(1)

  2. Is there any relation to the President of the senate? Kenny And Co vow not to repeat 2006 where they squandered 50 million on a campaign on the premise it was a sure win. They are sure making sure that their baskets are filled...

    (2)(0)

  3. Wow! A combined sum of XCD $13,500,000.00 (interest not included) to settle to settle outstanding liabilities for the compulsory acquisition of lands to a Ms. Francis & a Mr. Francis.

    What is the location and size of the land?

    Why was it necessary for the GOSL to acquire the land?

    (12)(0)

    • Are these two known party hacks? Are they related to a well-known Francis? Were the values for those parcels of land grossly inflated? Is that some kind of political quid pro quo? Answer those very simple questions. Then go ahead, shoot your mouth if you will, about transparency afterwards compere.

      (3)(0)

  4. "Compulsory acquisition of land" It would help to explain why was the land acquired by way of a simple sentence "The land was acquired to facilitate...." Transparency!! Isnt that what we have been preaching!!

    (22)(2)

    • Ha! Ha! Ha! "To facilitate transparency". I fell off my high back chair. Woye! La Corbs believes he just landed from the Colonial Office in England and the natives have to get one thing straight. He is speaking for Her Majesty the Queen. Get off your stupid high horse and tell the people why this government keeps on mortgaging the future of young Saint Lucians so recklessly and so unashamedly like that.

      (15)(2)

  5. What was bought for all this money? To what end? How come that was not apparently in the public domain before? This is staggering amount of debt for any one government to underwrite in the face of a deep financial crisis, where public servants were given 4% increase and the government turned around and tried to compulsorily capture 5%. Is this another sleight of hand by the financial magician and circus master?

    (20)(1)

Comments are closed.