The Federal government of St Kitts and Nevis will very shortly force Kittitians to shoulder the outrageous financial responsibility of the EC $142,000,000 (one hundred and forty-two million) debt the Nevis Island Administration (NIA) has accrued over the years.
A picture of a document depicting a resolution of the National Assembly made under section 55 of the Finance Administration Act, Cap. 20.13 to guarantee the NIA’s debt to the St Kitts-Nevis-Anguilla National Bank was circulated via media platforms earlier today.
To the total dismay of Kittitians, the resolution paragraph of the paper reads “NOW BE IT RESOLVED THEREFORE that the National Assembly of Saint Christopher and Nevis hereby authorises the Minister of Finance to guarantee the Nevis Island Administration’s debt of One Hundred and Forty-Two Million Dollars East Caribbean Currency (XCD$142,000,000) to the Saint Kitts Nevis and Anguilla National Bank Ltd.”
Putting it plainly, in the event the NIA cannot or does not repay its debt to the National Bank, the government of St Kitts has agreed to pay it for them.
The people of both St Kitts and Nevis are largely aware of the fact that the NIA has for many years, been failing to service their debt to the St Kitts-Nevis-Anguilla National Bank. At one point in time, a wage bill check written by the NIA was not honoured by the bank for this very reason. Following the bouncing of that check, the NIA shifted its business transactions to another bank, all the while still leaving the debt to National Bank unserviced. Today, it appears the NIA wishes to begin doing business through the country’s indigenous bank once again. In order for this to be arranged, however, their debt had to be guaranteed.
It is suspected that Prime Minister Dr Timothy Harris jumped at this opportunity as he has been desperate to appease the Nevis faction of his coalition. In the meantime, Kittitians will be forced to suffer the financial consequences of Hon. Vance Amory’s and Hon. Mark Brantley’s failure to manage Nevis’ fiscal assets as well as establish a solid avenue of revenue generation to sustain the island.
The gross financial failures of the Concerned Citizens’ Movement fly in the face of the political party’s age-long push for secession. It is clear that not a single one of the CCM’s members have the innovative skills and mindset or the vision to develop and grow Nevis’ economy.