Submitted by Kemar Stuart

Barbados is still under a state of emergency and the Emergency Management Act holds supreme as law of the land as it was extended for no logical reason by the Ministry of Health yesterday September 13th. AG Dale Marshall in the press conference sought to defend the state of emergency legislation which de facto keeps the country under a prime ministerial dictatorship.  This state of emergency legislation has a clause that gives the PM absolute power over the country as previously stated in my video and in the nation newspaper. 

(4)    When a proclamation of a public health emergency referred to in is in force, it shall be lawful for the Cabinet to make any Orders whatsoever it considers desirable in the public interest. This is a parliamentary dictatorship 

(6)    In an Order made pursuant to subsections (4)  the Cabinet may delegate to the Prime Minister the power to make such directives as may be required in the public interest. Prime Ministerial Dictatorship 

There is no emergency existing in Barbados, there will be no need to tighten protocols as we proceed full steam into the tourist season.  These dictatorship type laws need to be removed to bring democracy back to Barbados’ political system. The WHO and USA President Joe Biden declared the pandemic over however the government still finds a need to hold onto a power grab not because of a non-existent pandemic but the advantage of side stepping traditional processes under the old independence constitution which have some checks and balances in place.


While the Acting PM Santia Bradshaw and AG Dale Marshall were addressing the issue of relaxing covid protocols as recommended in my previous video and publications, a point also made by the Head of the private sector and also the head of the BHTA. The real PM mia mottley was meeting with the IMF to discuss BERT 2.0 as the countdown to the end of this current IMF comes to an end september 30th having divulged that her team are in advanced stages on pension reform . In her press conference previously she told a reporter that pension reform will indeed happen under this current program which is soon at it’s end.

Having feeling both internal and external pressure Barbados recently announced that majority of the covid-19 restrictions are to be dropped from 23rd September the financial losses are becoming too deep and this decision was announced in a press conference by acting PM Santia Bradshaw The loss of money from absent cruise ships and empty airplanes along with the fact most countries have moved past Barbados months ago is high on the list of reasons for the dropping of these restrictions as articulated by the acting PM.

This was long overdue as we had many mishaps, discrimination in how some classes of persons were treated by these covid laws and public events like general elections, crop over, unctad conference , the Afri – caribbean Conference as the public which includes the PM long ago decided that they will live with the presence of covid and lived life accordingly often ignoring the protocols.

However purposely left out the fact that The public should note Barbados has no declared constitution in place since the transition of the country to republic in 2021 and an update on when the new republic constitution should’ve been on the agenda for the acting PM and Ag’

Barbados is still under a state of emergency and the Emergency Management Act holds supreme as law of the land as it was extended for no logical reason by the Ministry of Health yesterday September 13th. AG Dale Marshall in the press conference sought to defend the state of emergency legislation which de facto keeps the country under a prime ministerial dictatorship. This state of emergency legislation has a clause that gives the PM absolute power over the country as previously stated in my video and in the nation newspaper.

(4) When a proclamation of a public health emergency referred to in is in force, it shall be lawful for the Cabinet to make any Orders whatsoever it considers desirable in the public interest. This is a parliamentary dictatorship

(6) In an Order made pursuant to subsections (4) the Cabinet may delegate to the Prime Minister the power to make such directives as may be required in the public interest. Prime Ministerial Dictatorship

There is no emergency existing in Barbados, there will be no need to tighten protocols as we proceed full steam into the tourist season. These dictatorship type laws need to be removed to bring democracy back to Barbados’ political system. The WHO and USA President Joe Biden declared the pandemic over however the government still finds a need to hold onto a power grab not because of a non-existent pandemic but the advantage of side stepping traditional processes under the old independence constitution which have some checks and balances in place.

This act must be discontinued and government should not pursue another IMF deal or pursue pension reform with this act in place.

Barbados is now a country that has no opposition leader , a country without a constitution and a country with directives that gives a PM such absolute power without any checks or balances in repeat is bordering on rouge governmental practice

Therefore committing Barbados to another program spells uncertainty especially for the future of democracy especially if your livelihood is dependent on government payout .

232 responses to “Countdown to the end of the IMF program Continues (September 30th 2022)”

  1. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “Even with the grain deal which was negotiated with Russia, 97 percent went to Europe, not Africa.”

    That’s why it’s popular belief that this is shades of the Indian famine that genocided tens of millions of people in India in the 18th century…no one trusts any of them, and they can’t complain about that…don’t exactly engender any trust historically.

    i saw, then the Ukraine dude talking crap about he wants to address Afrika…..what the hell does have to tell Afrikans that they don’t already know…..no one wants to hear the nazi bullshit.


  2. Precisely, there was always the contradiction that a fascist country needing military supplies badly will sell grain to Afrika when it needs every bullet it can find. With money in European banks, a region needing food badly, this was always the obvious deal.

    Afrika has to feed itself and stop eating these gmo grains from our clear enemies.


  3. It is on obvious that for a meat an potato man, Ronnie O’s contribution is a full meal.

    I will have to take several bites at it, but one phrase sticks out.

    “This Government is suffering from a problem of competency.
    It seems unable to do
    the smallest of projects. …”

    The great HaHa used to say that our problem was not one of corruption but a lack of competence.

    When two sensible men land on the same square after starting from different position, then you have to
    carefully examine their statements.

    Say what you like
    Ronnie O is right.

    Doubtful about a 10 points plan
    Go with Ronnie O, a 10 points man

  4. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “Afrika has to feed itself and stop eating these gmo grains from our clear enemies.”

    i keep telling them, they DON’T NEED ANY OF THESE PEOPLE….they have everything they need….stop FALLING PREY to vipers who have ulterior motives..

    .they NEED YOU….you DON’T NEED THEM FOR ANYTHING….AND START ACTING LIKE IT…

  5. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    ““This Government is suffering from a problem of competency.
    It seems unable to do
    the smallest of projects. …””

    well dem int tellin ya dah…..dem got a “bridgetown agenda” a world economic plan….

    can’t fix shit, not even the most basic small problem on the island…but they gone global to fix their economic wet dream..


  6. @ Artax
    Gibson’s position is not new. I recall after the 1991 elections , some NDP candidates had a similar view. I was encouraged and invited, to join the Bees or Dems but declined.
    Your points are well made but it’s obvious that outside of the NDP no third party has been given any real hearing.
    And from all indications this will continue.
    I with Sparrow on this : We like it so .
    Peace


  7. Skinner
    Do you have any words about the passing of Bobby Clarke. A stalwart to his school of thinking.


  8. What a transformative idea for Barbados … Big ‘projects should benefit all’.

    Here Ronnie O condemns the policy of generational wealth for a few and generational poverty for the many.

    Ronnie O
    “Whatever is going on there you have to be the winners of this.
    Any project that is going on in Barbados should be put to a test.
    Does it make the local[s a] part of the project? Do they get to benefit financially?… Does it contribute to the socio-economic development of Barbados?”

    This is a radical policy for a country that prides itself on nepotism, cronyism, favoritism, the high school network etc. We all need to be invited to a seat at the table.

    Don’t you know
    The future is brighter with Ronnie O


  9. “Yearwood also dismissed a letter that he said he got from the Government inviting him to be a member of an advisory committee for the National Insurance Scheme “without so much as a courtesy call…”.

    We know no real answers are coming.

    “Hey, what if this committee has no answers?. I think we should include Ronnie O
    If we have answers, we will kick him out. If we have none, he shared the blame.”

    Ronnie is wise to their game
    Wanting a scapegoat to share the blame.


  10. @ Pacha
    Here is a comment I made in an early post on BU:
    “ The passing ofComrade Robert “ Bobby” Clarke is a true loss to progressive people everywhere , workers and the disenfranchised. His passing is also a major loss to Pan Africanism and the fight for Black social and economic justice and equality in Barbados and the Caribbean.”

  11. de pedantic Dribbler Avatar
    de pedantic Dribbler

    @Pachamama … Re:

    Suspected sabotage of Nord Stream One and Two. The possible saboteurs would have needed a submarine to deliver three breaches under the sea…. Wonder if this could be the Americans as they benefit from the destruction of their satraps in Europe.

    You are the BU subject matter expert on Russia one can offer … so with that depth of knowledge it’s surprising (or not, maybe) that your analysis above leaves out the other more OBVIOUS option!

    1) As far as reports offer the current flow through the Nord is DOWN 90% … This is based of course on a direct order from the Kremlin to stop fuel supplies to Europe.

    2) The Germans and Europeans who were depending on Russia LPG have made massive efforts to a) stockpile alternative fuels for the coming winter and b) seek alternative long terms options to replace Russian fuels

    3) The Nord skeptics who never wanted this pipeline
    unexpectedly achieved as a result of the war and Putin’s directives their DESIRES to halt the monthly $1 Billion flow from Russia

    So with all that in mind why would these ‘satraps’ NEED to destroy the current ‘unused’ pipeline when Putin has already proven their point that it was a gamble to effectively ‘sabotage’ themselves by being so dependent to him.

    **Is it not MORE feasible that his Wagner forces type carried out this terrorist act!!!

    **Is it not more practical that such an act initiates more insurance cover on the Russian side for the billions of $$$ being lost due to production losses!

    Surely, your view is also possible but there is a higher probability the Wagner or other Russian option than the Euro ‘satrap’ scenario!

    Let’s get serious … about all scenarios!

    Peace out.


  12. Skinner
    Hardly saw anything marking his transition. Thanks, he did a mighty, thankless, almost lonely but great work.

    He toooo must take his rightful place amongst the most revered Ancestors.


  13. And Skinner

    Is there any talk about term limits?

    Recall, a two terms limit has been promised.

    Does that still hold credence?


  14. @ Pacha
    I don’t know if that was a serious promise . We have to wait and see who or what emerges. Right now it’s all about economic survival.
    Obviously both parties are now absolutely clueless but if tourism don’t fully bounce back , we would be in a complete mess.
    That’s their only hope now. Term limits is probably on the back burner.
    Peace.


  15. Small entrepreneur.

    Nowadays, the delivery driver is not employed. He is instead self-employed. He gets a small payment per delivery. Because he is self-employed, he carries all the economic risks. He does not know how many deliveries he will have on any given day. So, he will never know if he has money to pay rent at the end of the month.
    He needs to provide his own liability, health, and accident insurance. His employers have thus evaded even the most basic responsibility. Providing a healthy work environment.
    He also carries all the major costs of running the business. Car maintenance, electricity, fuel, and equipment costs.
    You don’t like to read boring articles like this? Do you prefer to go watch movies instead? I have a recommendation for you.

    Watch the way of future. Not Soylent Green.


  16. And Skinner

    Thanks


  17. @ David

    On a ‘not so serious note,’…… CPL Barbados Royals v Guyana Amazon Warriors

    Barbados Royals = 195/5 – 20 overs
    GAW = 67/6 – 11 overs


  18. GAW = 71/8 12.2 overs

  19. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Pacha…a few of us noted Bobby’s contributions against the exploitation, disenfranchisement, discrimination and racist practices FOISTED on the Afrikan population on the island..,,

    …i saw today where the world stage runner SHAMELESSLY came out and ILLUSTRATED that series of crimes against Afrikans in words that only these enabling beasts could…


  20. Waru

    Trying to defend Afrikan people is a lonely life. And Afrikans themselves are too often your staunchest detractors.

  21. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “And Afrikans themselves are too often your staunchest detractors.”

    tell me about it, WE SEE IT DAILY ON HERE…but i tell them all the time, am no Harriet Tubman and would watch their asses rot for their ignorant ungrateful ways AND DRINK A GLASS OF CHAMPAGNE. in celebration…….just because TOO MANY have gone before us and FELT THEIR TREACHERY…..while they remain in the same brain-damaged condition where they are most comfortable….

    am not about saving any dumb, perpetual slaves…..period…got better things to do with my life.


  22. @Pachaism
    Contacts in Finland and Latvia tell me conscription age males (why not conscript women too) are flooding from Russia into their land. TV reports Georgia too, but I have no contacts there.
    Possibly since they are Slavic, and not your typical white, they would make good candidates to boost the Barbadian population. This would also ensure ties (eventually) with Russia. And Cuba has (had?) many translators fluent in a multitude of Slavic languages. They could aid in their transition.

  23. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Pacha…while they attack us on here, not minding their business, the whole south coast is either up for grabs, sold and/or PILFERED ALREADY….let them stay there giving us lip and stupid talk…apparently even the Oistins police station gone or will soon be…

    the story behind this GREEDY FRAUD is mind-boggling…


  24. Isn’t there a constitutional review commission currently doing its work?


  25. @Artax

    The blogmaster – a purist at heart – does not regard 20/20 as cricket.


  26. Here we go again. CDB was in bed with the poorly financed LIAT re procurement if ATRs.

    ———————————————

    Fix regional connectivity – CDB President:

    https://barbadostoday.bb/2022/09/27/fix-regional-connectivity-cdb-president/

  27. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    check this out…..give these types any type of world stage position and their racism gushes out, this one would be a nobody wherever her family originated but they don’t remember that…the arrogant clowns…

    and just as i thought…

    “Rupa’s father, Muhammad Huq, and mother, Rowshan Ara Huq, emigrated to Britain from Bangladesh in 1962 in search of better opportunities. Rupa Huq, a member of Parliament, was born in Hammersmith, London, at Queen Charlotte’s Hospital. Huq completed her secondary education at Notting Hill and Ealing High Schools.”

    “P Rupa Huq has been administratively suspended from the Labour Party pending an investigation, after she was accused of making “racist” comments about Chancellor Kwasi Kwarteng.

    Labour MP Rupa Huq suspended from party for calling Chancellor Kwasi Kwarteng ‘superficially’ black
    © PA
    The MP for Ealing Central and Acton, made the remarks about Britain’s first black chancellor at a Labour conference fringe event on Monday entitled “What’s Next for Labour’s Agenda on Race?”

    The Conservative Party’s Chairman Jake Berry earlier condemned Ms Huq’s “vile” comments and urged Sir Keir Starmer, the Labour leader, to remove the whip from her.

    While, Labour’s deputy leader Angela Rayner had told Ms Huq to apologise and take “immediate action” over the “completely unacceptable” remarks.

    Labour extends poll lead over Conservatives – politics live

    In audio posted online by the Guido Fawkes website, Ms Huq says: “Superficially he is a black man.

    “He went to Eton, I think, he went to a very expensive prep school, all the way through, the top schools in the country.

    “If you hear him on the Today programme, you wouldn’t know he is black.”

    A Labour spokesman said: ‘We condemn the remarks and urge her to withdraw them and apologise.”

    In a letter to Sir Keir on Tuesday, Mr Berry said the Labour leader must take action against Ms Huq.”

  28. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Once they are given access to that white world stage from their beginnings as nobodies…..that’s how VICIOUS and VILE THEY GET..

    .ya int see how ya local attention -seeking hounds making themselves look STUPID while employing sleight of hand in the background behind the scenes and the people have NO CLUE what is really taking place….they are being SOLD DOWN THE RIVER as usual….and can’t see it, too proud to have a world stage runner making themselves look foolish on one hand, and illegally doing the most on the other…


  29. @ Pacha
    Especially in a place like Bim ! If you don’t lick the status quo ass , they will collectively destroy you in one way or another.
    Venceremos, Comrade.

  30. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    ya see the nasty racism in some of these minorities, compared to her, his parents could afford to send him to Eton or wherever he wanted to go…

    “Kwarteng was born in the London Borough of Waltham Forest on 26 May 1975,[3] the only child[4] of Alfred K. Kwarteng and Charlotte Boaitey-Kwarteng, who had emigrated from Ghana as students in the 1960s.[5][6] His mother is a barrister[7] and his father an economist in the Commonwealth Secretariat.[6][8]”

    we need to keep reminding these nobodies that Afrikan countries like Ghana gave us geniuses and creatives like the dude who mantrols rover vehicles on mars and other locations from EARTH…….gave us geniuses like the Ghanaian who CREATED THE INTERNET…..

    Afrika has been giving the WORLD GENIUSES and CREATIVES for possibly over I MILLION YEARS…

  31. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    William…amazing how the population would sit as one collective ass and comfortably accept, reside and

    collude in their own selling out…instead of CAPSIZING the criminal status quo and all the thieves and lowlifes involved..

    wuh i waiting to hear them protest, am sure they heard something, since i have known for WEEKS……….but not a word on here….they would sure to have talk for me, you and Pacha though….


  32. “Ungrateful”

    MURDAAAAAAAAAH!

    Bobby was a down-to-earth man, very sincere in his pursuits. I am truly saddened by his passing. We have suffered a great loss.


  33. “Here we go again. CDB was in bed with the poorly financed LIAT re procurement if ATRs.”

    @ David

    Not a FAIR comment, in MY opinion.

    On July 18, 2013, the CDB approved US$65M in loans to four (4) LIAT shareholder ‘governments’ (ANU, BGI, DOM & SVG), to assist with the purchase of aircraft for the airline’s Fleet Modernization Project.

    For you to arrive at your above mentioned conclusion, it’s clear you did not take into consideration the fact that the loan agreements provided for the loans to be on-lent to, and repaid by LIAT over a thirteen-year (13) period, following a grace period of two (2) years.
    Co-financing for the Project was provided by shareholder equity contributions and from the sale of LIAT’s existing aircraft.

    More importantly, the CDB also FUNDED a STUDY of LIAT, which EXAMINED the airline’s performance and challenges, among the results of which revealed a number of weaknesses within its human resource functions, ‘specifically low productivity and performance.’

    Additionally, the study outlined the challenges and potential opportunities at that time…… and presented several recommendations that, according to the Bank’s President Dr. Warren Smith, would “lead to an improvement in the overall performance of the airline and hopefully also positively impact its financial performance.”

    I’m sure you’re aware that, over the past few years, all recommendations presented to improve the financial viability of LIAT, have been opposed or rejected by successive political administrations in Antigua.


  34. Donna September 27, 2022 4:47 PM #: “Ungrateful…”

    Donna

    There isn’t anything else you could do, but laugh.

    😂🤣 🤣 😂

    Some days we “were warned,” and other days, they’re ‘not bothering to warn us.’


  35. @Artax

    What equity?

    You mean the CDB loan was extended on an understanding LIAT had recourse to make a call in shareholders?


  36. But the blog loves the soliloquist ent? Better heed her “warnings” if yuh like fantasy.🤣🤣🤣

  37. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    glad to see the deficit and the BIG HOLE IN THE ECONOMY, all the missing billions from VAT, treasury and pension fund is fantasy….

    wonder what wunna need IMF for then…


  38. @ David

    No.

    Remember, ‘CO-FINANCING for the LIAT’s Fleet Modernisation Project, was to be PROVIDED by shareholder equity CONTRIBUTIONS and from the SALE of LIAT’s existing aircraft.

    A reliable and efficient air transportation system is essential for accessibility within the region.
    One of the Project’s objectives was to provide LIAT with a feasible cost-effective means of improving the reliability of its service.
    And, was projected to have a significant impact on its operational efficiency and financial performance…… thereby providing a basis to facilitate loan repayment.


  39. David

    I’ve read an article written by Sydney Maki, entitled, “Barbados Swaps $150 Million of Sovereign Debt to Save Sea.”

    And, sent me a video, narrated by someone whose voice sounds similar to that of ‘Naked Departure’s’ Sheri Veronica, who interpreted the article to mean, ‘The Mia Mottley Administration has sold the sea surrounding the island.”

    According to the lady, Barbados owes $531M and Mottley SOLD the sea surrounding the island, for $150M.
    This means, according to her, some unknown entity now owns, the Port, Accra, Silver Sands, Browne’s Beach, Batts Rock, Brighton, Brandon, the ‘Hot Pot,’ etc.

    I’m SURPRISED some ‘NUT CASE didn’t post the article to BU as ‘breaking news.’


  40. Barbados Swaps $150 Million of Sovereign Debt to Save Sea

    BY SYDNEY MAKI

    Sept. 21, 2022, 3:48 PM

    Island is third country to refinance via so-called blue bonds
    Nation buys back parts of 6.5% US dollar bonds, 8% local notes

    Barbados is spinning $150 million of its sovereign bonds into cheaper debt with the help of a US charity, with plans to use the savings to protect its ocean.

    The island nation, known for its white-sand beaches, has struck a deal to BUY BACK a PORTION of its $531 million bond due in 2029, REPLACING it with lower-cost debt that comes with repayment guarantees from The Nature Conservancy and the Inter-American Development Bank. As part of the deal, the nation is also buying back a portion of its 8% local-currency notes due 2043.

    It is a move that should free up about $50m over the next 15 years — money that will be used to expand official protections in Barbados’ coral reefs and other ocean environments, according to the Arlington, Virginia-based Nature Conservancy, which focuses on climate change and biodiversity protection.

    “This is a game changer,” said Prime Minister Mia Mottley. The “climate crisis is one that requires the urgent action of all. While we continue to push and wait on the international community at large to treat this situation as a matter of priority, we in Barbados have taken action of our own.”

    The deal is reminiscent of Belize’s move away from public debt markets in 2021, as well as a 2016 project in the Seychelles that has allowed the island to put $430,000 a year towards marine conservation, according to the Nature Conservancy.

    For Barbados, the transaction allowed the nation to repurchase more than $70m of its 6.5% 2029 US dollar bonds at a discount of 92.25 cents on the dollar.

    The easternmost Caribbean nation has been hammered in recent years as the pandemic kept tourists at home, which caused its economy to contract by 18% in 2020. 

    Even before Covid-19, the island was troubled. It had been struggling for years amid competition from less pricey Caribbean tourism destinations, crumbling infrastructure and a currency pegged to the US dollar. After Mottley took office in 2018, she opted to restructure the island’s ballooning debt, which had reached over 175% of GDP, according to government calculations. Climate change has also had a major effect on the island. 

    The deal will require Barbados, which has virtually no protected marine areas, to eventually protect 30% of its coastal waters.

    The idea of debt-for-nature swaps has been around for decades, with the UN putting the value of debt-for-climate and nature agreements at over $2.6bn from 1985 to 2015 — though most of that was during the 1990s. 

    Still, there has been a clear push to repopularise the structure as part of a broader campaign to realign finance with the protection of the natural world.

    Barbados has committed to direct the interest savings towards a trust overseen by government officials, the Nature Conservancy and private and nongovernment entities, that will divvy out money based on local environmental issues. An endowment will keep the trust funded for at least 15 years. 


  41. I am GRATEFUL to Artax for so bravely stepping up to fill the shoes of The Warrior and issue this belated WARNING,

    Murdaaaaaaaah!

    I’d know that Naked Departure woman’s voice anywhere. It is a voice that screams “IGNORANCE”. One of her videos came up on my feed a few days ago and I could not make it past the first minute. Who could ever take her as a credible source of information?


  42. IssuING


  43. @Artax

    That is not the point being made. CDB advanced loans to buy 3 ATRs based on a faulty business plan. The conclusion must be its management was comfortable LIAT shareholders would have to answer any call to finance the company. It is an opinion.


  44. @Artax

    The blogmaster does not do Sherri Veronica.


  45. “Who could ever take her as a credible source of information?”

    Donna

    Some people ACTUALLY BELIEVE she IS a “credible source of information.”
    And, you WON’T be SURPRISED who.

    A few days ago on another thread, the usual ‘village idiot’ said they “just got information on the latest sellout move,” which, of course, is an obvious reference to Sheri Veronica’s video.


  46. David

    How do you know the ‘business plan was faulty?’

    Are you questioning the financial integrity of the CDB?


  47. @Artax

    The business plan had to be faulty given the financials losses LIAT as a company was racking up. If the blogmaster was responsible for lending at CDB there is no plan LIAT could have submitted to justify borrowing millions. An opinion of a lowly blogmaster.

  48. African Online Publishing Copyright ⓒ 2022. All Rights Reserved Avatar
    African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    The information about debt swap was around BEFORE Sherri Veronica made some video or the other……there are other places where information is distilled, it just does not make it to BU…..people actually request that it don’t.


  49. “The business plan had to be faulty given the financial losses LIAT as a company was racking up.”

    David

    I understand your concerns, but, I disagree with you.

    Yes, the loses LIAT incurred over the years, would’ve been recorded in the company’s financial statements.

    However, among the essential components of a business plan are the revenue or financial projections…… which would include statements of PROJECTED CASH FLOWS.

    And, it is important to note:

    (1). “The loan agreements provide for the loans to be on-lent to, and repaid by, LIAT over a thirteen-year period, following a grace period of two years.”

    (2). CDB was satisfied the airline’s Fleet Modernisation Project:
    (a). provided LIAT with the most cost-effective means of improving the reliability of its service and consequently its contribution to the socio-economic development of the Region.
    (b). was consistent with CDB’s strategic objective of supporting Regional cooperation and integration and contributes to CDB’s overall mandate of reducing poverty through social and economic development.

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