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The United Workers Party Responds To Panama Accounts Allegations

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To distract the public from their borrowing of $1 Billion in 2 years and their disastrous decision to borrow $200 Million to rehabilitate the old St Jude Hospital, the SLP is currently pushing a narrative that US$20 Million meant for St Jude Hospital was suspiciously transferred to an account in Panama.

These are the facts:

  1. The main contractor for the new St Jude Hospital project was Overseas Engineering and Construction Company or more commonly known as OECC.
  2. OECC is a Taiwanese construction company that was incorporated in Panama in 1998.
  3. OECC’s operation is mainly focused on the construction of government aid and humanitarian aid infrastructures designed to improve the living environment, also create jobs and contribute to increased economic growth.
  4. OECC’s bank accounts are based in Panama.
  5. OECC is owned by Overseas Investment & Development Corporation (OiDC), which was established in 1995 to assist the Taiwan government in enhancing its bilateral relationship with countries it has diplomatic relations with and to fulfill its international obligations.
  6. The new St Jude Hospital project which was started by the UWP Administration was financed by the Taiwanese Government
  7. As part of the terms for receiving the loan for the project, it was agreed that a Taiwanese construction company would have to be the main contractor
  8. Like with most development projects, the financing institution pays the contractor directly therefore funds associated with the project do not necessarily come into the consolidated fund. Example: the Caribbean Development Bank currently finances the Millennium Highway Project. Payments for this project are made directly from CDB to the contractor incharge of the Millennium Highway.
  9. For the HIA project the method of payment is the same as the method of payment for St Jude Hospital. The loan is with Exim Bank and the Contractor is OECC.

Instead of publishing propaganda, the Government should focus on the multitude of issues facing the country like the out of control crime situation, the high cost of living, the deplorable roads, the shortage of medication and basic supplies at our hospitals and health centres islandwide and the increasing sense of desperation and hopeless that citizens currently feel.

SOURCE: United Workers Party

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Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

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18 COMMENTS

  1. UWP can you please account for the commission paid to someone in the account of $4 million in direct connection to this transfer of $20 million to bank in Panama.

  2. All they have done is give more to question. With all the ABOVE SAID WHY WAS ST JUDES STILL NOT COMPLETE (2) WHAT IS THE STATUS OF THIS LOAN THEY TOOK FROM EXIM BANK ?? If you take out a loan on your home for home remodeling even if you didn’t finish the remodeling the bank don’t care you still owe them and have to pay it back. (3) This just goes to show the LEVELS OF FISCAL MISMANAGEMENT l AGAIN BY ALLAN CHASTANET frankly I am not surprised this is the sort of irresponsible government he ran not surprise on bit and he want to come back again to KILL OFF the working poor of this nation EVEN MORE HELL NO.

  3. “Instead of publishing propaganda, the Government should focus on the multitude of issues facing the country like the out of control crime situation, the high cost of living, the deplorable roads, the shortage of medication and basic supplies at our hospitals and health centres islandwide and the increasing sense of desperation and hopeless that citizens currently feel.” You’ll bravely sharing this like it only started as a new administration came in. All those ills were present under the previous administration. Stop with the nitpicking. Both parties is a waste of time.

  4. Wow do like ppl and Don’t vote, read and analyze the FACTS. So the network of bldgs which can only be considered as a university needs 200 million to finish. Interesting. Hw much would it cost to finish the so called box? Sp if te box is less than 200 million then ……… And the facts presented by DAle show showed how alomst 200 million has already been disbursed on the network of bldgs. So 400 million for the network of bldgs we will soon call St. Judes. Now in my opinion and having google hospitals, None i saw are a network of bldgs and none in a small island cost so much money, SMBH. I prefer dem men build a Polyclininc, Anyways.

  5. This government have all the evidence to prosecute why are they not doing it because they are here to take their share. Lucians you all crying you all have alot more crying to.

  6. Today I spent my time listening to HTS and some other media platforms discussing that mystery $20million in a bank account in Panama. Prior to today the only information I had was the rules of the financial institutions in the world. I had no prior knowledge of any money in Panama. At this point I still do not know how the conversation started. However, what I gathered was some money secretly find itself in a bank account in Panama. The source of the money was from the Taiwanese loan to SLU. Some individual decided to manufacture a story around the movement of the money from Taiwan to Panama.

    If I can only take one step backwards, All the banks in the world which are interconnected and interact regardless of location operate under International Standards. They also have policies and procedures in place on how transactions are done. Any financial institution which is found in violation of these Standards will either be dismissed or pay the consequences. No bank will want to be in that violation of any standards. They monitor the movement of money and everything else which goes in and out of the bank. Money laundering is a major crime and if I can recall that is the reason RF no longer has a bank account with BOSL. He made all types of excuses but the smart Lucians know better. I wonder where he eventually put his $200.000.00 which was kicked of the bank.

    Now the Taiwanese issued a loan to SLU and the money was initially deposited in a bank under the control of the Taiwanese. Once the paper work was done the money was moved to Panama pending work to be done so they can pay the contractor – there was nothing wrong.

    Today there was record of money transferred to the bank account in Panama for work done in SLU. Instead of the leaders honestly explain the transactions, Pierre took to HTS to put his own spin on the transaction and leaving the citizens of the country to speculate as to why the money was there.

    This has to be so unfair to the people of SLU as many would not be aware of how the banks and the financial institutions in the world operate. Also this is a slap in the face to the Taiwanese who apparently never saw that coming.

    Now everyone seems to have their own stories and as you may already know, empty vessels make a lot of noise. The leaders of the country have get away with another lie to the people and everyone thinks it is the gospel truth. Our Journalists are either non existence or they are so politically oriented that the may force one to call them Johnalists of SLU.

    We definitely need to be better than that and force our leaders stop insulting our intelligence and come out with facts. St. Lucia does not look like a country anymore and this is being caused by our leaders.

  7. Can someone from the UWP tell us how the Government Of St Lucia taxes were collected from the contractor on the $20 Million transfer to the Bank in Panama

  8. Stay clear of labor parties. Every country with a labor party is drama, mismanagement. Gross incompetence on an unimaginable scale! Stop giving them a chance. They’re only good as opposition. Noise pieces. Empty vessels make the most noise

  9. @QWERTY: I agree with you! “Both parties is a waste of time.”

    It’s the very reason why both parties’ chief propaganda officers are always on 24-hour alert to immediately counter accusations against their individual parties. It is the way they operate to keep the voting public always divided and sucking salt, so their common pay-master can continue his business of raping the country in broad daylight!

  10. Jeff Jacobs are you part of the corruption of the UWP? Two things UWP famous for, teething and telling lies.
    Now can someone give a breakdown of the 2 million dollars Labour have borrowed? Were all these monies debated in the house? If this cannot be done another LIE again. How many passports were sold by the Uwp?

  11. The people of St Lucia are the losers in that 20 million USD saga at the end of the day is we the tax payers that are paying the loans while politicians making millions for themselves. The people of St Lucia needs justice

  12. @Jah Guide yes the banks has standards and policies against money laundering but its not fool profit where there is a will there is a way. How .could that sum be placed in any account “mysteriously”.. The time you take to defend yellow nepotism and cronyism who will be picking up the tab for funds now that the Pierre Administration will not be using any money from this loan to build St Judes…..and while you are busy bashings RF and BOSL where is the Covid money that Allan Chastanet stole, USD$ 7000000 to be exact when will we get a refund ?? NEVER and I will press the quarry with my rep too 2yrs has passed everybody too quiet about it.

  13. So, you know that two million was paid as commission to someone, and you believe it yes; and your source cannot tell you who received the Two Million? Come up with Proven Facts guys and don’t write flabby nonsense on this page. Guidelines: Who, when, where, why.

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