UWP condemns SLP fear tactics

By UWP

(PRESS RELEASE VIA SNO) – The United Workers Party condemns the callous attempt by Philip J Pierre and the Saint Lucia Labour Party to sow fear with the pensioners and people of Saint Lucia by describing a Bridging Finance Facility entered into with the NIC as a possible lack of credit worthiness of the government of Saint Lucia.

This is blatant fear mongering and is nothing unusual in terms of financing arrangements made between the government of Saint Lucia and the NIC. In fact, it was the very SLP which entered into a similar request to the NIC on October 10, 2015 (a mere seven months before elections in 2016) for the sum of EC$40 million at a rate of 5% in 180 days (6 months).

This is in stark contrast to the request made by this current UWP government of EC$100 million at ½% (half a percent) in 30 days.

The hypocrisy and callous disregard for the intelligence of the people of Saint Lucia by the SLP is glaring and unconscionable. It is incredible that Philip J. Pierre, who claims to be an economist, and was a former minister of government when the very same facility was used, would now condemn the very same financial arrangement.

As a matter of investment policy the NIC assigns 25-30% to government lending, and therefore is not unusual or strange and clearly falls within that predetermined percent. It also clearly shows that the NIC has confidence in the government’s credit rating and ability to repay.

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12 comments

  1. Peter, 99.9% of the population of Saint Lucia understands sweet --- all about national debt. Even some politicians in key positions are no more educated about national debt than the SLP grasscutters in S.T.E.P. jobs. What nation of crass bumbling retards, this is.

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  3. I am not sure about NIC having confidence in the UWP Governments credit rating/worthiness!

    Some other TV presenter had already fore-warned us about this governments ability to borrow on the open market (based on their economic mis-direction). If Chastanet couldn't run properly his own business, I certainly don't want the NIC to be borrowing MY MONEY to this incompetent individual (co shoun blanc) after all he is the Finance Minister - a man who failed at running his own business.

    This man is on a secret mission to bankrupt St. Lucia, when we kick him out I want him and his family to stay there for his economic mis-direction/management to unravel and for all of them to face JAIL time for life.

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    • The SLPs are a bunch of hypocrites why do you want to bash the government for borrowing from the NIC to assist us the people of St.Lucia to be paid back in 30 days and you all made the very same request to be paid back in 180 DAYS.damn shame.. it is things like this that make me regret that i am a Saint Lucian to much hypocrisy in this place.I remember when SLP was in power certain people would say we should put the country first now the shoe is on the other foot and UWP in power these very same people saying we have to put ourself before country... day ban hepo-quit

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  5. We can't get up in the politics. If one person does something wrong, then another...it means they are both wrong. Taking money from your pension fund means your coffers are empty. You have no 'normal' funds to conduct government business.

    Now that surprises me since they've given so much to foreign investors. So where did those funds come from? Also, aren't we selling St.Lucian passports, where are those funds? Also, VAT reduction seemed to say you didn't need the money. Could that have been a bad idea?

    We need to stop looking are party colors. The people voted out the last group. This current group seem to be worse with the continued borrowing. We're leveraged to the hilt. We need to hold them accountable as well. In the end if this money is not paid back to the NIC, its OUR seniors who suffer.

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  7. New Testament Verse of the Day:
    Yes, my brother, please do me this favor for the Lord's sake. Give me this encouragement in Christ.

    –Philemon 1:20

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  9. I really do hope that common sense will prevail and the citizens of Saint Lucia will allow this government to attempt and make a difference. By all means if nothing changes within the next 5-10 years then of course we should vote them out . The SLP are entitled to criticise and scrutinised, however it needs to be constructive. For once they should assist the government and come up with better ideas on how to make our country stronger as a people . So this has not occurred so they either put up is shut up and stop insulting Saint Lucians .

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    • Bla-bla-bla. Wow! Can't understand bull foot from bull cow. What is wrong with borrowing from the percentage allocated to financing local borrowing needs? What? Cut out the emotional crap!

      In all the emotional crap that SLP is pushing out there, no one is ultimately more qualified than the other in expatiating on the debt issues as the story is unfolding. Fear sells, even when you are the one the created the adverse conditions facing the country today.

      Our debt situation did not emerge overnight. Past financial indiscipline created it. The country borrowed and successive governments have to borrow for loan repayments or for interests payments as they become due. Some loans have delayed payments due FIVE years after signing.

      If the government change, who is left holding the bag? The last government? Who ultimately pays under the austerity conditions laid down for external assistance? Is it the noisy lying politicians or the people?

      A few courses in Economics with a generalist degree and one course in Economics with several non-economic degrees do not make one an expert in economic policy nor public finance. The population of blinkered followers is showing its deep ignorance. So many fools quarreling without any basic knowledge or understanding is pathetic.

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  11. They are famous to greate panic in this country.Only now they know every solutions to every problems in this country only now they concern about the national debt never i have heard those red bugs talk about national debt but keep doing what you're doing the ppl are seeing right through u all .SMH

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    • You're an idiot! Forget SLP's hypocrisy and focus on the substantive issue that SLP raised. Don't you think that this is a cause for concern and questions need to be asked and government provide answers? They have not provided answers to any of the legitimate queries brought forward.

      The fact that the dog stole the saltfish doesn't give the cat to steal. Two wrongs can never be right.

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      • So you saying your dog can steal all the salt fish and the cat is to watch and do not steal a piece of the salt fish? You bloody hack I hope you are not as black as the freaking crow.

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        • "Two wrongs can never be right." is the moral here but from your response you seem to disregard morals. So with your crooked logic you won't mind if the neighbors stole from you because the thief did it first.

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