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July
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- Grave Employment
- Blacks living in the past
- Big Mistakes Made in Carnival
- HOPES ON JUMPERS
- HOPES ON JUMPERS
- Youths Caught On Tape In City Burglary
- Under-Strength Police Stretched Fighting Crime
- Striking That Band Balance
- St. Lucians Urged To Monitor System
- ‘Royal’ Hosts SLTB Awards
- Praise For ‘Pantastic’
- N.I.C.E. NOT FOREVER Employees Told Don’t Expect P...
- LUCELEC To Telethon
- Carnival Magazine Is Out
- Quiet For Too Long
- Big Boost For Local Farmers
- Illusions of Control
- St. Lucian Boxer Says He Was Robbed At Games
- Junior Tennis Underway
- GRENADA AHEAD
- Zouks Must Step Up
- Arthur’s Exil
- TRIUMPH FOR CALYPSO Despite Several Challenges, SL...
- LPM Urges Rejection of C.C.J. Moves
- FIRST CITIZENS HAILS ST. LUCIA’S CARNIVAL
- Coconut Bay Celebrates Employee’s Success
- CDF Reignites Love For Local Arts And Culture
- Bay Gardens Boosts Local Foods In Its Menus
- UWI Principal Demits Office
- Can I Hire A Minor?
- Pinehill Aims For 6,000 15th Annual Walk Set For A...
- Mon Repos Win U-21 Football Trophy
- MIXED FORTUNES St. Lucia In T-T Win Over Zambia In...
- Junior Tennis Gets Underway Today
- Cricket Quarter Finals This Weekend
- Why The Three R’s Still Matter
- Universal Secondary Education A Failure?
- Time To Change Narrative
- The Carnival Dilemma:
- Social Disorder
- Economics, Triumphs Over Power
- China Casts Huge Shadow As Japan Meets CARICOM
- Divisive Politics
- ‘Freedom Walk’ For Emancipation Day
- Top CE Awardees Honoured
- Pan Champs Repeat Wins
- LUCELEC Updates Customer Info
- LIME Sends Student To SJC “Weight Lifted Off Our S...
- Gov’t Salutes Late G.G.
- Emancipation Panel on Tuesday
- BUCKEYE LAYS OFF 60
- More On Productivity
- Kernice’s Lifetime of Tragedy Twice Raped and Abus...
- Homicides — Stitch In Time
- CARNIVAL WINNERS
- ST. LUCIA IN ACTION TODAY Commonwealth Games Underway
- ITF Coca Cola Tennis Launch
- 16 For Women’s Cricket
- THUMBS UP!
- No Carnival Incidents
- LUCELEC Backing Another Whiz Kid
- Former Governor General Passes Away
- Eight Get Help From 1st National
- 18 Get Schols To Study In Taiwan
- Top 10 Divorce Tips for Women
- Managing Small Business Finances
- Two Games In Grande Riviere Tomorrow BLACKHEART WA...
- Martial Artist Does Well In World Tournament
- Commonwealth Games On Winners TV
- Athletes Get Some Tips From Police
- The BRICS Bank — What’s In It For Small Economies?
- Is Our Prime Minister Care-worn?
- Controversy Always Creates Unrest
- Beyond The Fiscal Deficit ....... the larger human...
- Austerity or Efficiency —Which First?
- Deterring Crime
- Youth, 19 On Murder Charge
- Super -Fast Speeds To Be Available Islandwide Aug....
- St. Jude In Crisis? Leader of Opposition Wants Gov...
- Social Protection Policy Coming
- Renovated Dennery Hospital Back In Operation
- RC Ends JA Community Project
- La Rose Stalwart Passes On
- Knights of Columbus Celebrate Tomorrow
- Dennery Fights Chikungunya And Dengue Weekend Clea...
- Crimes Up 3 Percent
- COPS TO POLICE MAS’ Chief Says All Action Must Cea...
- BOSL In Carnival
- Beacon Launches ‘Don’t Worry Be Happy’ theme
- 10,500 Get Cuban Eye Care
- Al Elliot: Court’s In Session
- Too Many Guns In De Town
- He Who Is Without Sin
- U-21 FOOTBALL FINALS Clash Between Gros Islet, Mon...
- St. Lucia Ready For Windwards School Games
- St. Lucia 2nd. In Creole Boxing
- SLSM Grand Piano — With Help From Sagicor
- Sandals Employee Studies For Master’s Online
- Now, Cell Is At Baywalk
- Ngozi Takes ‘Inter’ Calypso Crown
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20 comments:
Well at last; a breathe of fresh air in the world of Economics and Trade for Third World Countries and small Island States.
Now lets not get carried away and start borrowing money like there's no tomorrow. See how we are paying for it right now. Too many mistakes have been made, so get smart will you?
Developed countries are famous in stifling the aspiration of less developed countries. The United States and Europe, especially, always want to dictate the method of development of other countries. The IMF and World Bank monetary policy cause economic dependency and strangulation instead of independence. An alternative bank that is cognizant of the ethos of the developing countries would suffice. This bank is long overdue.
Yes, the IMF and the World Bank started off with good intentions too; but when so many borrowers fell on hard times and couldn't repay their loans, those institutions, like all banks, were forced to make it more difficult to qualify for future loans.
And the BRICS banks will be no different.
Another thing; no BRICS nation has as stable a government as the United States.
It's about time these twin devils get a blow to their heads.
The so-called technocrats of the CARICOM countries just towed the lines like asses to the well for water at the IMF and WORLD BANK.
Attending these meetings at taxpayers expense merely as a JOY RIDE and show to meet their women and screw around; with absolutely no proper representation to the people of this region.
They just made it a wine and dine affair; jet setting off to Washington every September; and taking the opportunity to meet and dine women.
Shame on them.Especially those right here in St. Lucia.
Who pays the piper, in other words those countries supplying the finance, will call the tune, meaning, the lending terms, draw downs and repayment conditions.
This may be another avenue for financing. However, banks are banks. They lend money and expect a return on the capital disbursed. There may be better or softer terms. However, repayment is part and parcel of lending.
@5:35 PM. You hit the nail on the head. Sanders should calm down, this isn't a new dawn, it's just a different set of money lenders who will want their pound of flesh as well.
No institution is ever going to lend to st lucia (insert other nation) with the condition of never paying it back, (which is really what some of you are hoping for).
Let's hope you can pay back the dictators if you take any money...
Such a lending bank is going to operate like a consortium. Countries join sometimes only to add funds, and not just to borrow at the concessionary rates.
Take for instance the CDB (Caribbean Development Bank), a development bank with participating funds coming from countries like Germany. The Germans would NOT be there to get loan capital from the CDB. But the funds they provide can be used for on-lending to regional member states.
Now note the difference. The CDB always seeks to get Member Governments to engage in what is called "Cost Recovery". Loan funds are disbursed at concessionary rates. However, governments have to incorporate repayment mechanisms in the loan agreements to get back from the users of the capital (money) some form of payment from the beneficiaries of the loan disbursement, especially with pure development projects.
That is why the UWP's approach to funding the HIA project was suspect from the start. It did not have reasonable and sustainable cost recovery.
It took a woman; Christine La Garde the Finance Official from France who now heads the International Monetary Fund (IMF) after so many men before her screwed it up; over and over again; to put some real common sense in the heads of those technicians at the Fund.
Notice when they were calling for further austerity measures for Greece. She put her foot down and in effect what she told the fellars is that the country is already bleeding and you cannot do anything to cause it to hemorrhage further. Jamaica is yet to RECOVER from the MEDICINES poured down its throat by the IMF since the 1960's.
We need much more women in politics to bring some real common sense in the management of our countries all around.
And I concur with the blogger who said these men attend these meetings not for any thought of benefiting the people of these countries; but as a big show and party; a joy ride is exactly what these meetings are for them
Otherwise we would not be as backward and downtrodden as the majority of our peoples are in this region.
@3:49 PM, the much larger issue that seems to escape everyone's attention is that we insist on voting into government, Blessed Holy Saint John Compton type broomsticks as MPs, like "Fairty Schools". These morons can only deal with the superficial. As typical country bookies too, they lack a world view. How will these types of people ever fashion a national vision to take this country's development to a much higher level? Their perspectives are constrained by their needs to patch pot holes, agree to lampposts in dark areas, and give jobs to party yard fowls. Today, we have convincing examples of this pattern, the SLP's out-of-work S.T.E.P. en rouge-nistas.
Don’t be in any doubt: the possibility of the Bricks having no difference to the World Bank and International Monetary Bank is as great as 90%. It will start with all its good intentions as many other institutions did and like them become corrupted as time goes. The reasons why this happens, though important, are not what I to focus on here. Instead I want to point out how I see the new financial institution altering the global lending/borrowing landscape.
I see it as having a positive impact on “country borrowing” as it will rip apart the monopoly of the WB and IMF on the money lending market. In the first place it will infuse a little competition which should drive down the cost of borrowing for those seeking loans. It might not be much but it is sure to be easier on the recipient's purse strings. Secondly, being founded on a philosophy of not profiteering and controlling, as the IMF and WB, should cause the old money lenders to re-evaluate their mode of operation. Taken together these should make those seeking a loan to do so with more confidence and make repayment less burdening.
It all well and good to borrow; but we as citizens must ENSURE that our Governments borrow only for the benefit of the people of the country.And for the continuous UPLIFTMENT of the people of the country.
We end up borrowing in this country to meet obligations of other people; as a result of the MISTAKES of the current Minister for FINANCE.
For example; The FRENWEL/ROCHAMEL FIASCO which the Treasury had to fork out to the Royal Bank of Trinidad and Tobago some $49 million dollars.
Then we have now the GRENBERG OIL EXPLORATION MESS costing the Treasury a possible FIVE HUNDRED MILLION DOLLARS so far; not including the exhorbitant fees of the lawyers involved.
Then the BLACK BAY disaster costing the treasury some one hundred million dollars.
Then we cannot forget the multi-millions lost from so-called cost over-runs for the West Coast Highway; which the Commission of Inquiry deemed as "mismanagement".
Then again; the millions which went down the drain; not one person found accountable for the lost of those millions which gave rise to the Eustace Monrose Commission of Inquiry.
And don't tell me we must forget those terrible cases of funds going down the drain of the country's financial resources; because it has had a direct bearing on the financial MESS we found ourselves in; all due to bad political management.
And all the Government does is tax, tax, and more tax; fooling itself in believing that the financial problems can be solved by taxing. No Sire, it won't. Time does not allow me at this time to expound further.
As long as we do not realize that this writer is part of the problem we will continue our downward spiral.
Saunders keeps alluding to things but refuses to categorically identify the culprits and problems.
After 50 years of independence the politicians the academics and the diplomats and parasitical public servants continue to rape our society. Their liberal agenda for power and money is the problem and their leftist ideological bent.
Saunders can write till he turns blue but he is part of that thought process and incapable of understanding the real solutions.
He will go to his grave having made not one iota of difference.
So Christene is a woman and oh so good! Just more of the feminism crap that undermines our society! Are you aware in France she has been linked to a fraud case involving the former president.
Are you aware that the IMF with its linkages with the too big to fail banks and corrupt bankers is looking to take people's savings to cover for the massive theft and fraud of bankers?
Women are the problem voting for the socialism and big government killing our economies.
Women are the ones who are happy to not commit to marriage but have children but no husband to help direct the boys as they grow up which leads to black on black crime!
Let us start calling a spade a spade. Decades from now we will look back at our deluded ideological magical kingdom politically correct views and wonder who were these crazy people.
Looks like we have another appearance of our regular misogynist with very she-she thinly-veiled homosexual agenda. Greying ape, keep dyeing your yellowing beard, but please, don't get your knickers all twisted.
Yup! Another deluded liberal clown who fiddles as our youth suffer and our country burns! Lol!
Having destroyed everything created by conservatism these Neanderthals will soon start to feed on themselves!
Oh I forget they started already with 5% off salaries while the inner circle liberal elites party!
She-she man @9: 58 AM, get a frigging life!
O yes indeed; blogger at July 23 at 4.23AM we all know that the writer is a very big part of the problem; but I do not believe he even has the slightest idea that he is.
Something is terribly wrong with the socialization of the University of the West Indies.
When we look around in the Region; so many of their graduates are in leadership positions both in the private and public sectors; and their TRACK RECORD on the job and their contribution to the upliftment and upgrading of the standard of life of the peoples of the region is ZILCH.
More than that they are the direct cause of suffering and more suffering and increasing poverty and crime in the region; because their agenda is all about getting and maintaining power and money; for themselves and their crooked puppets; at any cost; and the last item of their agenda if it is even there at all; is the betterment of the peoples of the countries they are supposed to serve.
It gives me the creeps watching those ill-bred rascals coming from hungry backgrounds; creating those problems on our societies.
Education is meant to be used to better the lives of the people in a society. The evidence is pellucid. Throughout the Caribbean; the problem is exactly the same.A very sad commentary indeed. And this writer belongs to that group.
They not only do whatever it takes to achieve and maintain power and money/wealth; but will DESTROY anyone who is real, honest and have the interest of the people of the country at heart.
In the Government (Public) Service for example; they surround themselves with malleable individuals who see no evil, hear no evil and encourage corruption and evil to flourish in these countries.
UWI is a very sterile institution. It does not prepare its outputs to do much more than to hold job titles.
Saint Lucia is replete with very cogent examples in government and in the public service. Take for instance this sitting government. And I mean sitting, and just perfunctorily going through the god damn motions.
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