National Debt and Economic Prospects to be discussed at the Chamber’s Executive Luncheon

PRESS RELEASE:-High national debt and debt servicing has assumed higher significance among the concerns of the Members of the St. Lucia Chamber of Commerce. Specific recommendations were therefore made to Government in the Chamber’s 2016 Budget Submissions.

The Chamber further notes the Prime Minister referencing the development of “a Medium Term Debt Management Strategy (MTDS ) to address the situation” in his Budget Address for 2017/2018.

Ms. Cointha Thomas, Permanent Secretary in the Ministry of Finance, Economic Growth, Job Creation, External Affairs will address the St. Lucia Business Community on July 6th on Government’s “Medium Term Debt Management Strategy” at the July Monthly Luncheon.

The implications of the high national debt and how this affects the economy and specifically the Business Community continues to be of major concern to Chamber Members. The Chamber of Commerce had specifically called on Government to articulate how it intends to deal with the critical issue of debt. Government faces having to roll over close to EC $800 million in short term debt in the 2017/2018 fiscal year.

These and other critical economic issues will be discussed by Ms. Thomas who has recently been appointed to this most important position. The Business Community is invited to listen and engage Government’s Chief Economic Policy Advisor in an informative and interactive session.

The Chamber extends this invitation to all interested persons and businesses to participate fully in this presentation by contacting The Secretariat at telephone 452 3165 or email address


  1. Anonymous
    June 24, 2017 at 7:53 am

    Here’s a strategy. Have those companies pay their taxes and stop the kickbacks.

    1. Calvin
      June 25, 2017 at 7:02 pm

      A question: Will St. Lucian taxpayers also see a reduction in our electricity rates?

      And why has there been no media coverage of this story? Curious it hasn’t yet showed up on social media when our nation’s media could have scooped this before readers read about it from their “likes” on social media.

  2. Calvin
    June 25, 2017 at 6:11 pm

    Applause for a medium-term debt management strategy that presumably forecasts with a planning horizon beyond NIMTO (Not In My Term of Office).

    One hopes that the term “annual deficit spending” is not forgotten in terms of a comprehensive, outward looking national fiscal management policy.

    A non-partisan comment — Like world-leading G-7 jurisdictions, the Government of St. Lucia has been given a resounding democratic mandate by a notable majority of voters to, among other things, provide leadership and take bold decisions that will not always be popular but, hopefully, will bear in mind a strategic vision that bears in mind the reality evolving world dynamics, our nation’s social and economic imperatives, our nation’s presence on the world stage (yes, we have one), and the legacy that we have borrowed and will ultimately leave to our children.

    Now is the time for frank discussion and, also realizing that there will not be 100% consensus.

    There are numerous means for each and every one of us to ask questions, get more information and to engage in manner that transcends the proverbial, sorrily tired and hackneyed red or yellow partisanship. These include:

    — Office of the Prime Minister: (758) 468-2166
    — PM’s Secretary: (758) 453-7352
    — Cabinet Secretary: (758) 468-2115
    — Press Room: (758) 468-2405
    — E-mail:
    — Facebook:

    Get Involved. Ask More. Be Heard.

  3. Calvin
    June 25, 2017 at 6:20 pm

    “The Chamber extends this invitation to all interested persons and businesses to participate fully in this presentation…”

    A wonderful invitation.

    For ease of access and awareness-building, perhaps the Chamber (, could post the presentation on their web site, and could provide a hyperlink to it so as to maximize access and awareness as to the Chamber’s input into an important national policy discussion.

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