Wednesday, August 10, 2022

Chastanet Accuses Pierre Of Lying About Economic Situation SLP Inherited

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Opposition leader Allen Chastanet has accused Prime Minister Philip J. Pierre, also Minister of Finance, of continuing to ‘deliberately lie’ about the economic situation he inherited.

The opposition leader’s Facebook comments came in response to remarks Pierre made to a news conference asserting, among other things, that Chastanet’s United Workers Party (UWP) had left the current labour administration the task of rescuing Saint Lucia from financial and economic disaster.

According to Pierre, this followed a five-year period of reckless borrowing and spending and an unprecedented level of corruption.

However, Chastanet noted that in a June 30th, 2021 Media release, the Caribbean Information and Credit Rating Services Limited (CariCRIS), an independent regional body, published a statement reaffirming ‘adequate creditworthiness’ ratings for the Government of Saint Lucia.

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“CariCRIS has also maintained a stable outlook on the ratings. The stable outlook is premised on our expectation of strong construction activity and a partial recovery in tourism in 2021, and that debt to GDP would not breach the current rating category’s limit. Furthermore, we expect that debt to GDP would plateau with borrowings for the Hewanorra International Airport redevelopment but would thereafter decline,” the opposition leader quoted the regional organisation as saying.

Chastanet asserted that a simple google search could confirm the statement.

And on the matter off corruption, Chastanet called on Pierre to start within the ranks of his own cabinet if he is serious about tackling the issue.

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Editorial Staff
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.

38 COMMENTS

  1. @ SameGuy, first, you are conflating the issue. You should not compare a person’s financial status to that of a country. That’s the mistake most people are making. Countries can print money but people cannot. Countries can raise taxes to increase revenue , people cannot. Countries can encourage its central bank to engane in what economists call quantative easing, people cannot. Countries can do many things that people cannot. As a result, it is a fallacy to compare a country’s financial situation to that of a person. The two are incomparable. They are judged by different yardsticks. I reccomdend you speak to Dr. Adrian Augier for a better understand if you are sincere about your lack of information.

    Some banks would not give a person a loan if his debt-to-income ratio is beyond 50%. However, a country with a debt-to-GDP ratio of 100% can adequately secure a loan based on its future economic projection. For example, the United States of America debt-to-GDP ratio is beyond 100% yet it is still printing money to service its debt and improve people’s lives. Japan’s debt-to-GDP ratio is beyond 235% yet it is still borrowing money from financial institutions. So financial institutions will continue to lend money to countries even if those countries are under water. “Reckless Borrowing” implies that the borrower is aware of an imminent recession yet he continues to borrow unabated. The world is more complex than what you think it is. Some countries would still lend you money ever though they are perfectly aware that you won’t be able to service that debt. Then comes the IMF.

  2. @ Sameguy : How could Chas borrow recklessly when the banks and the financial institutions have their own vetting process before they can lend you any money. LMAO – you clearly don’t have a clue how multilateral financial institutions operate–fyi- some are run by communist regimes!!!! You think China doesnt know that some these poor African countries do not qualify for all those loans to build ports and airports and roads? Lets not be stupid bro!

  3. Some folks are too deep in the Forest – they fail to see the trees. I really do not understand the term ” Reckless Borrowing.” Someone please help me understand as this seem to be PJP’s daily saying. How could Chas borrow recklessly when the banks and the financial institutions have their own vetting process before they can lend you any money. Did Chas lie about St. Lucia’s financial standing of the country or did he lie about the ability of St. Lucía to pay that debt back. That would make him a smart liar. I know of lots of people who cannot borrow any money from the banks. That is because they either do not have a job or they have so much debt that the banks refuse them any more debts. Now, how was Chas able to get this money to manage and pay the expenditure of the government during the time Covid. Is that what you call Reckless or good credit rating for St.Lucia – Please help me understand. I want to tell a friend so a friend can tell another friend. Let us educate each other

  4. So the public servants who now advise pjp some of whom were appointed by Chas himself are liars? Irie…Chas!

  5. Pip shut the hell up. If the country is broke you knew damn well it was king before you lied to win elections. I want to know if you as an opposition leader was not getting your annual reports of the county economy. So why lie now. We don’t want to hear you bitching now. Go beg for us like chas did.
    We’ve had enough of you already!!!
    Pathological liar!!!!

  6. Can someone tell me, which government in the world that operates without some debt, at some time or another; be it the ‘Red, Blue or Green Party’
    To run a Country – more so a third world Rock that sticks out of the Ocean – with no natural Resources, except some Bananas on a sick bed. Tourism is trying to heal from Covid-19; so debt today, debt tomorrow and never ending, get used to it.
    We talk about who Lies the most, like a competition between liars – they all lie – the moment you became a politician, you start lying, as for the ‘Unholy Trinity’ the essence of lies. PjP drank the cool-aid with the promise of being P.M., the Queen likewise accepted the highest bidder, Well as for Jufallie he is up to start with, close to Royalty with Her Honour bestowing upon him, O.B.E.(honest boy of the empire) the red devil stays in the back ground poking wood in the fire. Is this a way to run a Government? (Psalm 66: 8,9. O, bless our God, ye people and make the voice of His praise to be heard.)

  7. Oh Jackass Really I am on the ‘payroll” Red and Proud of it. You dowload all of that to prove What you Clown ??? Just to undermine PJP stated Concerns and to legitimized the ineptitude slack irresponsible fiscal spending of Allen Chastanet…. no surprise IT’S WHAT YOU ARE PAID TO DO…Allen Chastanet will have his day in court, I would suggest they also drag his enablers such as yourself also for TREASON by using this platform to promte and CONVINCE The People of Saint Lucia to promote a false narrative of fiscal success by The UWP Admistration overzealous spending. code name ( I present to you Dubai ) Allen Chastanet has been running this country finances to the ground for more than 20yrs with his fail escapades and you Sir has blessed everyone of them so you need to go to jail for aiding and abetting and for Treason amongst The State.

  8. “The stable outlook is PREMISED on our expectation of strong construction activity and a partial recovery in tourism in 2021, and that debt to GDP would not breach the current rating categories’ limit. Furthermore, we expect that debt to GDP would plateau with borrowings for the Hewanorra International Airport redevelopment but would thereafter decline”,” the opposition leader quoted the regional organisation as saying. ”
    This is an inferred statement from this organization and not one based on facts but possibilities and suppositions that might or might not come to fruition, I wonder what else was said but not mentioned. This is considered an informed guess.. The writer is not taking this to the bank and nor should the population. Be careful when one uses words like premise, expect, decline and expectations. Those are all very loaded words that are not based on present but future possibilities. Not sure why there is nothing on DSH from this group. I for one would like to know what the deal was on this. I dio think that Chas knows too well that some of what he says is suspect, no different on his statement regarding the deputy prime minister issue. He is fully aware that appointment is legit and has been done before. Unfortunately and sadly he states orderwise and he is not the only one.

  9. @Lowgrade Lucian, I forgot to say that I do not support yellow/red/green/blue like you do on this site in every post acting like a clown. You must be on the SLP payroll somewhere.

  10. @Lowgrade Lucian, I personally downloaded every single financial report summary published by the Government of Saint Lucia and ECCB from 2000 to 2020 and went through the numbers. On average there was a 200 million dollar increase in total public debt every single year regardless of political party in place. The only major increases were in 2020 and you can take a guess why that was. I didn’t say the debt was insignificant, its a major strain on the future of the country. All I’m saying is that both sides are guilty and don’t seem to be making any difference. As crime gets worse investors will think twice. And I am still waiting for the SLP government to bring Chas & CO to court.

    Here’s a breakdown of the reoccurring expenses.

    Salaries
    Home Affairs 62 Million
    Finance 31 Million
    Commerce 4 Million
    External Affairs 5 Million
    Infrastructure 8 Million
    Agriculture 14 Million
    Public Service 4 Million
    Justice 9 Million

    Interest Payments on Debt 175 Million

    Retirement Benefits 105 Million

  11. The lack of support for this government had dwindled significantly. People no longer trust this government. They’ve been betrayed and discarded like yesterday’s news…not needed until next elections. Talks shows hosts have become voiceless, many of those who used to be regulars under Richard’s show have become quiet. Noticeably absent are those whose faces were present at every rally, protest, round the island, pan beating event. Some have retreated out of pure shame not wanting to be associated with these clowns whilst others have realised that they were used by a bunch of liars and incompetents just to gain power. SLP’s base has distanced itself. One thing is certain those who the party has sidelined are happy not to be a part of this mess and are thankful that their names aren’t associated with this disaster that they supported. Some have formed new allegiances with the plan to be get rid of this Pierre/ Helies cabal very soon. What ah ting and it’s not even a year yet.

  12. @Oh Really you are so Silly just like the rest of you Yellow Clowns…..to excuse our debt is simply nonsensidal . What was your source Google ?? Did you the part that states St Lucia current debt of USD$1.51 Billion and it’s projectory for the next five years due to Covid and your Mr. Borrow Borrow Beggy Beggy PM. It’s mind boggling to think You Clowns belive this to be “just political bark”. I hope St Lucians of good will and thinking can see why we had to throw these fools out of office to save this country from receivership from our debtors..

  13. This administration only know how to lie…still some fools believe…corruption…corruption..take chas to court if proven guilty of any wrongdoing put his …. in jail stop throwing stones at the man if u can’t take a lash of it…all that negative energy draining the the country…you said y’all can do a much better job than chas prove it don’t complain and gripe as things aren’t going as y’all plan or is there any # zafe kabuit paca vaye’ mootu

  14. For crying out loud we all knew stlucia was not heading in the right direction that is why we gave you a chance to correct it. All u do now is complain to us u got the country in a bad state yet u can afford to assign your same set of ppl that have served as ambassadors over and over again. Why couldn’t you have included one or two of our youth so they can learn the rope. Even when names are submitted for councils you push aside names u did not like or heard false rumors about. You are mot a prime minister for us but for you and your friends. A government that believes in rumors and lies and victimize ppl base on lies and rumors. I am triply disappointed in Pjp. I thought he was different but just began and is already proving who he really is.my opinion of him was an honest down to earth person. A sympathetic person who get to the bottom of things before condemning someone without knowing both sides of a story. I as all stlucians will soon find out many persons who form this government are people who lies who believe in rumours and lies as oppose to the truth but fear not in time god will reveal them all. Let us pray stlucia because we are down to a long journey and only god will see us through. Never loose faith and hope because gif will make 5 years to be like 1 year. Blessings

  15. Both parties are bankrupt from ideas to save Saint Lucia and will continue to play tricks with you to stay in power.

  16. Based on the yearly financial reports from the Government of Saint Lucia, the country started accumulating debt from the year 2000 at an average of 200 million dollars each year. This increased slightly due to Covid.

  17. Here we go again their White God open his mouth again….now Most Honorable PJP simply seeing is believing show St Lucian’s the books…..just play show and tell and that will shut them up seeing is believing…..but I know you have a counteract coming just now for them so we just waiting patiently for you to rub salt again.

  18. Realist the debt was not accumulated during the last administration. Check your facts and you will see that we have been in debt since the 1980’s

  19. Wow I see St Lucians trying their best to determine which of the two lesser evils they have put to run the affairs of their country is the best liar. We really need to start the lying competition here cause we all know that we can’t trust a word coming out of either of these morons mouth. I really think they are better than both the Lying King and King LIE ARR Kenny.
    Wow just WOW who will help us get out of this LYING Hole, certainly not HELAIR or Richard Elias Lionel Frederick.
    I will conclude that I think the country has money cause too much lavish spending have taken place and too many friends and family have achieved high paying jobs since Pierre came into power. Maybe there is not too much to make them instant millionaires but there is.

  20. Up to now the SLP government cant bring the former ministers to court for corruption, watch the next five years pass and nothing will be done. Both sides are corrupt and fooling its supporters to fight with each other.

  21. Lydia, the corruption is real. the 2 projects that were started under the UWP are now being implemented under the SLP. Past and present PS’ are awarding consultancies to Jamaicans and Trinidadians without the proper structure for awarding consultancies. Just wait, the EU will soon get involved.

  22. Good on the former P.M. for calling him out and correcting the record. Counter the lies and deceit in real time so it does not metastasize.
    This administration run on lies and propaganda, and are governing the same. Sad that so many fell for their sham.

  23. Those same news reporters that were being mistreated and disrespected by Chas today are proud to interview him. What a shame.
    If he was being ignored by the reporters then all those crap coming out of his mouth would be no more. He would be non existent.

  24. Pierre has proven to be a liar. All he does is complain and blame the opposition when he cannot tackle a task. PJP should have left Saint Lucia in the hands of the UWP. You put yourself out there, no one forced you. You fought for this position with lies and misleading information just to become PM and to victimize people.

  25. Chas is a proven liar… even in court. This government needs to hurry appoint the special prosecutor to deal with these brazen crooks once and for all. Only then will we stop seeing this fool all over the news braying incessantly. Hope he takes the crusty cat lady with him.

  26. Chastenet hole your RASS! I did my own research and the PM is correct. Other than the “authority” you called out, give another. And by no means am I saying that I’m in agreement with your assessment of the credit ratings.

  27. Whether Pierre is wrong or right, no one will believe Chas because he has degrees in telling lies. I want any St. Lucian to tell me something Chas has said and it is not a lie. Even Juke bois, Lang Caca admit Chas lies to the core

  28. GREEN FIGSSSSSS TIME, COOKED, FRIED, SOUP, PORRIDGE, PIE, SALAD, AND BREAD AND ANY OTHER WY YOU CAN THINK OF.

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