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WATCH: Saint Lucia Prime Minister Probes Handling Of Loan Funds

As per Part Three of the Finance (Administration) Act of Saint Lucia (2020); Public Funds, “…all revenues and other monies raised or received for the Government shall be paid into and form part of the Consolidated Fund…”

Prime Minister and Minister of Finance, Hon. Philip J. Pierre, has become aware of a previously arranged transaction in which a loan originating from a foreign government entity was channelled to a privately controlled bank account.

Payment into the Consolidated Fund:

(1) Subject to the Constitution and except as otherwise provided in this Act, all revenues and other monies raised or received for the purposes of the Government, not being revenue or other monies which are payable by or under any enactment into some other fund established for a specific purpose, shall be paid into and form part of the Consolidated Fund.

 (2) For the purposes of subsection (1), monies raised or received includes monies received by way of a grant, donation, gift or other like method.

In 2020, the Government of Saint Lucia secured approximately XCD 54 million in loan financing from the Export-Import Bank of the Republic of China (Taiwan) to fund the St. Jude Hospital Reconstruction Project.

There is no evidence to indicate these monies were deposited into the Consolidated Fund as is legally mandated by the Finance (Administration) Act of Saint Lucia.

Diverting monies raised for the government to privately held accounts significantly limits the government’s ability to adequately account for its usage.

To ensure accountability and preserve the integrity of the government’s fiscal management practices, the Prime Minister is seeking to retrieve all relevant documentation and information associated with this transaction.

While the resumed St. Jude Hospital Reconstruction Project steadfastly progresses under Prime Minister Pierre’s stewardship, the government intends to strengthen accountability mechanisms in the public service to deter and restrict the potential for mishandling of government assets by public officials.

SOURCE: Office of the Prime Minister. Headline photo: Stock image.

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13 COMMENTS

  1. TELL THEM PIERRE !! Pure bobulist in that yellow Party even with the he overwhelming proof they are STILL trying to fool the people a bunch of clowns. I like the way The Most Honorable KDA broke it down in the house for them making them look like fools well done Dr. Anthony for showing your paper trail and how good governance is done. Chastanet looked dumfounded as he does ALWAYS.

  2. Allan Chastnet is so clueless, in response to the Panama account he defended his actions on news spin by saying that CDB is the one paying C O Williams Co Ltd on behalf of Govt. Of St Lucia.
    News flash Allan Govt. Of St Lucia maintains accounts with ECCB and CDB and as such these accounts form part of the consolidated fund.
    Allan please be advised that the Panama account belongs to a private contractor .

  3. So somebody is going to fool me to make me believe that the Taiwanese govt placed 54 million dollars in a private acct. Chooppss tan. From day one I clearly understand how the loan was being handled by OECC who is based in Panama. Anyways. I note that only 54 million was requested for St. Judes compared to the 200 million for St. Judes in 2023. Fool the Fools. Anyways I still not voting to put anybody in power to gv their brother and side chicks top position in govt and collect tens of thousands in per diem flying around the globe at tax payers expense. None of these parties deserve my vote

  4. The intention of the SLP is to create an illusion of impropriety, in order to gain some political advantage over the UWP. I have served in the ministry of finance and understand fully the government’s cash flow problems. Whenever the government is in need of money , it will utilize whatever money is in the consolidated fund. Kenny knows that more than Pierre.

  5. Some Lucians deserve to say nothing if they do not understand how Banks, Government and other financial institutions operate in the world. The more they open their mouths, the more they are identified as fools. Pierre with his nonsense speaks directly to them and they need to stop that. If a man lies to you it simply means he does not respect you. Pierre and his Cabals are doing just that – disrespect your intelligence. If the funds were tunneled to the consolidation fund then maybe there would be some mishandled.

    The Taiwanese funds were handled according to plan and was deposited into the Panama Account. This was an approved account by the Taiwanese government and the funds were deposited into the account. Pierre is now trying to play “Bad Card.” He is trying to bring another name to shame. He spreads propaganda all over the place and on a different platform he calls for unity. Pierre could have won so many hearts yesterday had he dismissed such allegation and just tell the truth. He would gain the respect of many. Instead the guy chose to twist the truth to gain Political points. At the end, it blew up in his face as many did not believe him regardless of how he tried to spin it. People need to get smart and challenge the guy – What a Prime Minister we have in this guy. Instead of putting people first he makes people worst.

  6. “Wow” show me your leader and I will know who you are. When one is defending a liar and corruption I know for sure this person is telling lies and also corrupt. Simple language.

  7. probe loans my ass the money already being portion off who will get what percentage and it will be fine on the report.

  8. The prime minister is clearly blowing smoke.

    Who is the person who received comission ?

    Where was the accountability when money loaned was sent into the consolidated fund for St.Judes during your terms building st.judes and turned out to a disaster ?

    Explain to the people why governments of other countries are now setting strict guidelines of borrowing money for projects. For far too long the bor bol been going on where money loaned is not used for what its intended. The Taiwanese are protecting themselves from that in every way possible. From the bank they choose, to their own contractors.

    Come on now Mr. PM better than that…….educate the people stop stirring this market step gossip and you have zero evidence to back up any level of wrong doing.

    You even made a government press release video to show you are right….. when in actuality youre saying the Taiwanese government is corrupt. Really ???……

    Prime Minister its time for you to go this is unacceptable.

  9. But the funds for St. Jude’s including my children’s donations were in the Consolidated Fund when all the bobol was happening and jobs were inflated to over 150% their original cost. We were paying over 20k monthly for employees who were never even on site.

    I guess the newly created position of Communications Attache in the Prime Minister’s Office needs to earn their salary coming from the Consolidated Fund hence this silly propaganda video.

  10. All these good for nothing politicians does is point fingers at each other, and put Lucian one against each other playing party politics what a shame

  11. I don’t know what school or should I say schools that pm attended but my three year old grandson speaks better English than he does

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