Opposition leader Philip J. Pierre, asserting that the government has ignored warnings from his party, has told reporters that he is very unhappy with the state of the economy.
“We told them so; they didn’t listen,” he declared as he arrived for a sitting of parliament Tuesday morning.
“Now the CDB has said it, I hope they understand,” he asserted.
The Caribbean Development Bank (CDB) in its latest 2019 update lowered its initial forecast growth for Saint Lucia.
Pierre, an economist and business consultant by profession, explained that his opposition Saint Lucia Labour Party (SLP) is still concerned bout the level of borrowing.
He noted that this country’s debt to GDP ratio is rising.
“The government has taken itself away from a PPP programme where they would have got the airport without any additional liability to the people of Saint Lucia,” Pierre said.
“It’s a model that has been in Jamaica since 2013 – it’s a model that has been happening everywhere in the world,’ the SLP leader observed.
But he lamented that the Saint Lucia government in its wisdom chose to borrow nearly $600 million for the construction of the airport.
“Now that the CDB has spoken, I hope everybody understands,” Pierre said.
He said that the people of Saint Lucia are the ones who are suffering.
“Our people are the ones who are unemployed – but we warned the government and it is only going to get worse,” Pierre declared.