Sitting of the Senate

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Sitting of the Senate

(PRESS RELEASE VIA SNO) – A Sitting of the Senate is scheduled for Tuesday, April 10, 2018 with Papers to be laid by the Honourable Minister in the Ministry of Finance and Leader of Government Business.

The following are down for consideration:

Motions: 1. BE IT RESOLVED that Parliament authorizes the Minister for Finance to raise on the Regional Government Securities Market or through private placement at a maximum rate of 7.25% –

(a) the amount of EC$200,000,000 for financing the 2018/19 budget;

(b) the amount of EC$485,000,000 for financing existing debts.

2. BE IT RESOLVED the Parliament authorizes the Minister for Finance to borrow US$750,000.00 from the Caribbean Development Bank’s Special Fund Resources (SFR) to finance the Natural Disaster Management – Immediate Response – Tropical Storm Matthew Project;

BE IT FURTHER RESOLVED that –

(a) the interest is payable at a rate of two point five per cent per annum on the amount of the principal withdrawn and outstanding;

(b) the loan is repayable in thirty-two equal or approximately equal and consecutive quarterly instalments on each due date of the 1st day of January, 1st day of April, 1st day of July, 1st day of October commencing on the first due date immediately following the expiration of two years after the date of the loan agreement or on a later due date that the Caribbean Development Bank specifies in writing.

Bills:

National Savings and Development Bonds (Amendment) Motor Vehicles and Road Traffic (Amendment) Appropriation 2018/2019

Tuesday’s Sitting is scheduled to commence at 10:00 a.m.

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