Articles

Fri 23rd Jul 2010

Is there any more money left for the little man to borrow from the NCB? Green Party calls on the Minister of Finance to resign.

There can be no doubt that the ULP regime leadership is its own worst enemy. The former NCB chairman large loan problem indicates that the time is right - as it was in Trinidad and Tobago - for the opposition NDP to table a motion of no confidence against the highly incompetent ULP government.

It is unacceptable and unfair to the little man that the former NCB chairman was allowed to borrow over $2 million, when he did not have the ability to repay the loan. This large loan must have been approved with the knowledge of the Minister of Finance, Gonsalves.

Most sensible lending banks would make sure a person has the ability to repay before making such a large loan, to avoid the loan not being repaid. It seems that this loan was delinquent from day one, before it was given to the former NCB chairman.

Mind you, what else can we expect from a minister of finance who is not a university graduate in finance. SVG Green Party calls on the highly incompetent Minister of Finance to tell the electorate how widespread loan delinquency is at the NCB.

How can a Minister of Finance appoint the chairman of the NCB and then allow borrowing of this proportion by the said chairman? Surely this is conflict of interest and SVG Green Party is demanding the urgent resignation of the Minister of Finance, Gonsalves.

The PM should come clean and tell the nation how common is this practice of borrowing large sums of money without the ability to repay. One must remember that the former NCB chairman was part of the policy making body of the NCB. Why was he allowed to borrow in such a reckless way?

The NCB is a small national bank. Caution should be applied when lending its limited resources. Sensible lending could stimulate growth of the weak SVG economy, but this type of incompetent financial management by the ULP regime only serves to make our country weaker.

SVG's finances are in a real mess. A party that cannot competently manage the nation's finances should not be in office. It is time that Ralph Gonsalves is removed from office on a vote of no confidence. Too much talk from the NDP and no action. SVG Green Party calls on the NDP to urgently table a vote of no confidence in the House of Parliament against the ULP regime.

SVG Green Party's message to the business sector is that, your business will only ever grow and be strong, when the SVG economy grows and becomes strong. Incompetent ULP financial management has already caused many businesses to close. Vote Green for a strong economy and a thriving business.

An SVG Green Party government will create thousands of new jobs by expanding and reviving the economy. We will train people to fill the gaps in the economy. By increasing our exports and reducing our imports, we will create a growth in the private sector which will create thousands of new jobs. There will be at least 5 new factories in SVG and we will set up the economy to nurture a variety of small businesses.

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