Chastanet says – SLP Government set to borrow $350 Million at Tuesday’s sitting of Parliament, What are they doing with all this money?

By Chastanet Facebook Page

SLP Government set to borrow $350 Million at Tuesday’s sitting of Parliament Whilst going through the package from Parliament in preparation for tomorrow’s debate, I noticed a seemingly convenient omission on the Order Paper. It is the Government of Saint Lucia’s intention to borrow a total of $130 Million US or EC $350 Million dollars at tomorrow’s sitting.

The breakdown is as follows:
$100 Million US or $271 Million EC from the Export Import Bank of the Republic of China for Budgetary support and $30 Million US or $81 Million EC from the International Development Association to finance the COVID-19 Response.

This new debt follows the Government’s last set of borrowing which took place at the sitting of Parliament held on July 12th 2022, where they borrowed approximately $130 Million EC.
This means that between July and October of this year, the Government of Saint Lucia would have borrowed $480 Million EC or almost half a billion EC dollars.

What is most disturbing about this borrowing is that no form of financial assistance or income support has been given to you during this inflation crisis.

The Government has failed to deliver on it’s promise of $1500 of income support to citizens. They have allowed the price of bus fare and electricity to increase.

They have kept the price of gasoline, diesel, kerosene and cooking gas at unacceptably high levels. What are they doing with all this money? Instead of protecting their victory they should be protecting you. You surely deserve better! #PierreEhCare #PeoplePower