{"id":190375,"date":"2023-11-15T15:58:43","date_gmt":"2023-11-15T19:58:43","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=190375"},"modified":"2023-11-15T15:58:43","modified_gmt":"2023-11-15T19:58:43","slug":"us100-million-loan-should-be-debated-in-parliament-tabor-says","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/us100-million-loan-should-be-debated-in-parliament-tabor-says\/","title":{"rendered":"US$100 million loan should be debated in Parliament, Tabor says"},"content":{"rendered":"
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REAL NEWS: The latest borrowing by the Gaston Browne Administration \u2013 reportedly US$100 million to facilitate certain airport upgrades and other government projects \u2013 should be debated in Parliament before the money is disbursed.<\/p>

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This is the position of the United Progressive Party (UPP).<\/p>\n

During its meeting last Wednesday, November 8, the Cabinet reportedly held a Zoom meeting with three officials from a banking group.<\/p>

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However, the name of the banking group was not disclosed and whether the institutions are local or otherwise was not shared, either.<\/p>

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However, it was noted that those discussions centred on a loan to the Government through the Antigua and Barbuda Airport Authority (ABAA).<\/p>\n

From that sum, which is about EC$270 million, the Government will receive EC$27 million upon signing the loan document.<\/p>

\"\"<\/a><\/div>\n

The balance would then be disbursed in phases to the Airport Authority.<\/p>\n

It is expected that the first tranche of these funds will be delivered
\nbefore the end of November 30.<\/p>

\"\"<\/a><\/div>\n

Damani Tabor, UPP public relations officer, says that borrowings of this size should be taken before the Parliament, affording Opposition members to debate such loans.<\/p>

\"\"<\/a><\/div>\n

But as it stands now, Tabor says, the public \u2013 whose tax dollars will be repaying the loan \u2013 has no information on the agreement, not even the rate of interest.<\/p>\n

Further, he says, no study was done to justify the borrowing of this large sum, or to demonstrate that it is a priority at this time.<\/p>\n

Accordingly, Tabor says the UPP is demanding more information on this loan to ensure it is not another scheme for ministers to enrich themselves creatively.<\/p>\n

He notes that a loan of this magnitude should be used to repair the country\u2019s ailing infrastructure, including the many police stations and clinics that have been closed or relocated \u2013 in some instances,
\nfor years.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

REAL NEWS: The latest borrowing by the Gaston Browne Administration \u2013 reportedly US$100 million to facilitate certain airport upgrades and other government projects \u2013 should be debated in Parliament before the money is disbursed. This is the position of the United Progressive Party (UPP). During its meeting last Wednesday, November 8, the Cabinet reportedly held […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-190375","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nUS$100 million loan should be debated in Parliament, Tabor says - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/us100-million-loan-should-be-debated-in-parliament-tabor-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US$100 million loan should be debated in Parliament, Tabor says\" \/>\n<meta property=\"og:description\" content=\"REAL NEWS: The latest borrowing by the Gaston Browne Administration \u2013 reportedly US$100 million to facilitate certain airport upgrades and other government projects \u2013 should be debated in Parliament before the money is disbursed. 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