A Sitting of the House of Assembly is scheduled for Tuesday, December 6th, 2022 with Papers to be laid by the Honourable Prime Minister and Minister for Finance, Economic Development and the Youth Economy and Minister for Justice and National Security, the Honourable Deputy Prime Minister and Minister for Tourism, Investment, Creative Industries, Culture and Information, the Honourable Minister for Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs and the Honourable Minister of Agriculture, Fisheries, Food Security and Rural Development.
The Motion for consideration is as follows:
BE IT RESOLVED that Parliament authorizes the Minister of Finance to borrow the amount of USD102,128,294.00 from the Export-Import Bank of the Republic of China to provide Budgetary support for the fiscal year 2022/2023;
BE IT FURTHER RESOLVED that —
(a) the loan is repayable in twenty years commencing from the date of first disbursement of the loan inclusive of a grace period of five years;
(b) the loan is repayable in thirty consecutive equal or as nearly equal as possible semi-annual instalments, the first of which must be made on the last day of the sixty-sixth month from the date the first advance under the loan is made by the Export-Import Bank of the Republic of China;
(c) interest is payable at a rate of the six-month Chicago Mercantile Exchange Term Secured Overnight Financing Rate plus zero point two per cent and one point two five per cent per annum;
(d) if the full amount of the loan has been drawn down, each principal instalment must be in the amount of USD3,404,277.00, except that the last principal instalment must be in the amount of USD3,404,261.00.
The following Bill is down for consideration:
1. Virtual Asset Business
Tuesday’s Sitting is scheduled to commence at 10:00a.m.
The Sitting of the Senate is scheduled for Thursday, December 8th, 2022 at 10:00 a.m.
SOURCE: Government Information Service
China debt trap
AA Mardi pwete continue. Por jab. We don’t have nofing.
Looks like everytime (or the only time) the house meet these days is to borrow money. What budgetary support they talking about? It’s like their budget worst than my monthly budget. Smh
Soon we will be a colony of China.
People are not afraid to go to prison here you need to scare them like they goin to a Russian penal colony @borderlaie Guns being brought in from corrupt top RSLP officers, in house appliances, containers fully loaded with cannabis coming in no punishments, Venezuela, Russia, where else? Customs officers when they hear the persons have notions to declare they just let them stroll on threw without a care in the world! This is why St. Lucia is rampant with crime! Next they goin to Sandals golf or Cabot or Ans chastenet and run there Ak 47’s then what! .?Smph all the Greece with illegal money laundering on this island and construction write off’s is astronomical! Smph
Borrowing to enrich their cabal? Only two thirds of the amount borrowed will be used for the intended purpose. The remainder is kickback to facilitate their corrupt practice or corruption scheme. This is why my country ranks high amongst the most corrupt countries in the world.
For example – government (SLP) Paid $5 Million to clean up St Jude – a job that could easily cost $1.5 million. Robbing us blind!!! – to enrich the cabal.
This is a Taiwanese state bank. This is why Taipei gives us aid. They make it all back eventually in loan interest. Pierre probably was begging for more last week.