{"id":242478,"date":"2025-07-07T07:22:55","date_gmt":"2025-07-07T11:22:55","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=242478"},"modified":"2025-07-07T08:35:38","modified_gmt":"2025-07-07T12:35:38","slug":"prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/","title":{"rendered":"Prime Minister Gaston Browne defends Government\u2019s Strategic Jolly Beach Investment to Strengthen Social Security and Drive Long-Term Economic Growth"},"content":{"rendered":"<div id=\"antig-2436410178\" class=\"antig-ecab antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-972856818\" class=\"antig-before-content antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/medicalbenefitsscheme\" aria-label=\"ce741a73-c70c-446b-af7f-da2abe2b62bb\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 1200w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:341\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1200\" height=\"400\"   \/><\/a><\/div>\n<p><strong>Prime Minister Gaston Browne defends Government\u2019s Strategic Jolly Beach Investment to Strengthen Social Security and Drive Long-Term Economic Growth<\/strong><\/p><div id=\"antig-1948112447\" class=\"antig-content_5 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"Full-ABLP-Team-Digital-Billboard-1920x1080px\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1920w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:169\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:576\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:432\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:864\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1536w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1920\" height=\"1080\"   \/><\/a><\/div>\n\n\n\n<p>Prime Minister the Hon. Gaston Browne has defended his government\u2019s bold and visionary move to safeguard the long-term sustainability of Antigua and Barbuda\u2019s\u00a0National Social Security Scheme, through the\u00a0transfer and redevelopment of the Jolly Beach Hotel\u00a0as part of a strategic investment initiative. This effort, spearheaded by\u00a0Prime Minister the Honourable Gaston Browne, will not only enhance Social Security\u2019s revenue base, but also restore a key national asset, create jobs, and boost tourism.<\/p>\n\n\n\n<p>The resort\u2014located on&nbsp;27 acres of prime beachfront land&nbsp;and valued at&nbsp;EC$67 million\u2014will be utilized to settle part of a&nbsp;$330 million delinquent government bond&nbsp;owed to the Social Security Board. The bond, issued in 2010 under a previous administration, has remained non-performing for over a decade, compromising the Scheme\u2019s financial health and its ability to meet pension obligations.<\/p><div id=\"antig-788714515\" class=\"antig-content_4 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-4036255378\" class=\"antig-content_12 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"Full-ABLP-Team-Digital-Billboard-1920x1080px\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1920w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:169\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:576\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:432\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:864\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1536w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1920\" height=\"1080\"   \/><\/a><\/div>\n\n\n\n<p>\u201cThis is more than a real estate transaction,\u201d said Prime Minister Browne. \u201cIt is a transformational move to repair past fiscal failures and to position our Social Security Scheme on a path of solvency and prosperity.\u201d<\/p><div id=\"antig-513545246\" class=\"antig-content antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ReggaeInTheParkAntigua\" aria-label=\"lucanio\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 1080w, https:\/\/mlavawteztbj.i.optimole.com\/w:240\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 240w, https:\/\/mlavawteztbj.i.optimole.com\/w:819\/h:1024\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 819w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1080\" height=\"1350\"   \/><\/a><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-a-revenue-generating-investment-plan\"><strong><u>A Revenue-Generating Investment Plan<\/u><\/strong><\/h3>\n\n\n\n<p>In a paper written by Prime Minister Gaston Browne defending his government\u2019s decision, it was made clear that&nbsp;the government\u2019s multi-pronged investment strategy is designed to&nbsp;unlock revenue from both existing and new hospitality infrastructure:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>315 rooms\u00a0will be sold under the\u00a0Citizenship by Investment Programme (CIP)\u00a0at\u00a0EC$900,000 each, netting an estimated\u00a0EC$200 million\u00a0after administrative costs.<\/li>\n\n\n\n<li>An additional\u00a0200 rooms\u00a0will be constructed on 10 acres of the property, financed through an\u00a0EC$75 million public investment, and sold at\u00a0EC$1.3 million per unit, also projected to generate\u00a0EC$200 million\u00a0in net revenue.<\/li>\n<\/ul>\n\n\n\n<p>The total expected revenue over a ten-year horizon is&nbsp;EC$400 million, with an average annual yield of&nbsp;EC$40 million. This significantly outpaces passive investment options, such as bonds or term deposits, which typically yield around 2%\u2014or just EC$2.8 million annually on a comparable EC$142 million investment.<\/p><div id=\"antig-316032746\" class=\"antig-content_2 antig-entity-placement\"><a href=\"https:\/\/www.courts.com\/antigua\/\" aria-label=\"500X500 (1)\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 500w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:150\/h:150\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 150w\" sizes=\"(max-width: 500px) 100vw, 500px\" width=\"500\" height=\"500\"   \/><\/a><\/div>\n\n\n\n<p>Even under more conservative projections, with revenues discounted by 50%, the investment would still produce an annual return of&nbsp;EC$20 million, or&nbsp;EC$17.2 million more&nbsp;than the passive strategy, wrote Prime Minister Browne.<\/p>\n\n\n\n<p>\u201cThis is the kind of smart, forward-thinking investment that ensures Social Security isn\u2019t just surviving\u2014but thriving,\u201d the Prime Minister stated.<\/p><div id=\"antig-2550664648\" class=\"antig-content_3 antig-entity-placement\"><a href=\"https:\/\/chtamarketplace.com\/\" aria-label=\"Social FaceBook Cover Desk_Mobile\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:711\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/Social-FaceBook-Cover-Desk_Mobile-scaled.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:711\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/Social-FaceBook-Cover-Desk_Mobile-scaled.jpg 2560w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:111\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/Social-FaceBook-Cover-Desk_Mobile-scaled.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:379\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/Social-FaceBook-Cover-Desk_Mobile-scaled.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:285\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/Social-FaceBook-Cover-Desk_Mobile-scaled.jpg 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:569\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/Social-FaceBook-Cover-Desk_Mobile-scaled.jpg 1536w, https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:711\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/Social-FaceBook-Cover-Desk_Mobile-scaled.jpg 2048w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"2560\" height=\"949\"   \/><\/a><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-operational-sustainability-and-risk-protection\"><strong><u>Operational Sustainability and Risk Protection<\/u><\/strong><\/h3>\n\n\n\n<p>The plan provides a&nbsp;layered structure of financial stability:<\/p><div id=\"antig-3823004096\" class=\"antig-content_6 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Hotel operations, currently generating\u00a0EC$4 million\u00a0in annual profits, are expected to grow to\u00a0EC$10 million\u00a0post-development.<\/li>\n\n\n\n<li>Maintenance and upkeep\u00a0will be funded by\u00a0monthly homeowners\u2019 fees\u00a0of EC$1,000 per unit, projected to bring in\u00a0EC$6 million annually.<\/li>\n\n\n\n<li>Should the Social Security Board face any operational or financial challenges, the\u00a0Government has committed to covering any shortfall, making the investment\u00a0secure and de-risked.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-building-a-balanced-diversified-pension-fund\"><strong><u>Building a Balanced, Diversified Pension Fund<\/u><\/strong><\/h3>\n\n\n\n<p>Prime Minister Browne wrote that the investment is part of a broader strategy to&nbsp;diversify the Social Security Fund\u2019s portfolio\u2014a standard practice in modern pension management that balances&nbsp;liquidity, risk, and long-term growth.<\/p>\n\n\n\n<p>Historically, the Antigua and Barbuda Social Security Scheme has&nbsp;relied almost exclusively on fixed deposits, earning low returns and ultimately contributing to its&nbsp;declared insolvency in 2010. In contrast, many global pension funds invest in&nbsp;real estate, infrastructure, and other long-term illiquid assets&nbsp;to hedge against inflation and ensure steady returns.<\/p>\n\n\n\n<p>\u201cA sustainable pension system requires more than just savings accounts,\u201d said Prime Minister Browne. \u201cIt requires strategic asset allocation and proactive investment to meet future obligations.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-correcting-the-failures-of-the-past\"><strong><u>Correcting the Failures of the Past<\/u><\/strong><\/h3>\n\n\n\n<p>The Prime Minister did not shy away from highlighting the&nbsp;mismanagement and neglect&nbsp;that led to the Scheme\u2019s financial deterioration. Between the 1990s and 2014, successive governments failed to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Repay loans from the Social Security Fund;<\/li>\n\n\n\n<li>Make parametric reforms such as adjusting retirement age or contributions;<\/li>\n\n\n\n<li>Invest Social Security funds for growth.<\/li>\n<\/ul>\n\n\n\n<p>\u201cInstead of acting on the 2010 actuarial findings of insolvency, then-Finance Minister Harold Lovell chose inaction,\u201d Browne noted. \u201cThat failure forced pensioners to line up in the early morning hours, only to leave without their payments.\u201d<\/p>\n\n\n\n<p>By contrast, the&nbsp;Gaston Browne administration&nbsp;has since:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Implemented necessary\u00a0parametric reforms\u00a0in 2016;<\/li>\n\n\n\n<li>Injected over\u00a0EC$200 million\u00a0into the Scheme over the past decade;<\/li>\n\n\n\n<li>Committed a further\u00a0EC$90 million\u00a0in upcoming support, bringing total contributions to\u00a0EC$300 million\u2014a sharp contrast to the\u00a0EC$65 million\u00a0paid during the UPP\u2019s entire 10-year term.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-governance-transparency-and-risk-management\"><strong><u>Governance, Transparency, and Risk Management<\/u><\/strong><\/h3>\n\n\n\n<p>To safeguard this major investment, the Government and the Social Security Board will implement&nbsp;robust governance protocols, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Enhanced\u00a0Investment Committee oversight\u00a0with qualified financial professionals;<\/li>\n\n\n\n<li>Parliamentary reporting\u00a0every six months;<\/li>\n\n\n\n<li>Annual\u00a0professional audits\u00a0and public disclosure;<\/li>\n\n\n\n<li>Caps on investment exposure based on risk profile;<\/li>\n\n\n\n<li>Liquidity buffers\u00a0to meet near-term obligations;<\/li>\n\n\n\n<li>Stress testing and independent valuation\u00a0of assets.<\/li>\n<\/ul>\n\n\n\n<p>New&nbsp;regulations&nbsp;are also being developed to ensure compliance with best practices in pension fund management and public finance, Prime Minister Browne pointed out.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-broader-economic-impact\"><strong><u>Broader Economic Impact<\/u><\/strong><\/h3>\n\n\n\n<p>Beyond strengthening pensions, the Jolly Beach investment will drive&nbsp;wide-ranging national benefits:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Hundreds of jobs\u00a0in construction and hospitality;<\/li>\n\n\n\n<li>Significant\u00a0foreign exchange inflows;<\/li>\n\n\n\n<li>Increased tax revenues\u00a0from property, VAT, and income;<\/li>\n\n\n\n<li>Greater\u00a0entrepreneurial opportunities\u00a0through support services;<\/li>\n\n\n\n<li>Enhanced\u00a0national pride and ownership\u00a0of a key hospitality asset;<\/li>\n\n\n\n<li>Expanded airlift\u00a0from international carriers to meet demand.<\/li>\n<\/ul>\n\n\n\n<p>\u201cThis is more than a hotel project\u2014it\u2019s an engine of economic transformation,\u201d Browne added.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-a-vision-for-the-future\"><strong><u>A Vision for the Future<\/u><\/strong><\/h3>\n\n\n\n<p>Prime Minister Browne described the investment as a critical pillar in the Government\u2019s broader vision to build a&nbsp;resilient, inclusive, and economically independent Antigua and Barbuda.<\/p>\n\n\n\n<p>\u201cWe are charting a new course\u2014where public assets work for the public good, and where we move beyond dependency and despair into ownership, growth, and prosperity,\u201d he said.<\/p>\n\n\n\n<p>While the initiative may face opposition from what the Prime Minister described as \u201crisk-averse pessimists,\u201d he reaffirmed that the&nbsp;Antigua and Barbuda Labour Party (ABLP) administration&nbsp;remains&nbsp;committed to delivering results, driven by&nbsp;competence, confidence, and a track record of success.<\/p>\n\n\n\n<p>\u201cWe are securing the future for our pensioners, building national wealth, and creating opportunities for generations to come. The ABLP Government will deliver,\u201d he concluded.<\/p>\n<div id=\"antig-3452494807\" class=\"antig-in-comments_2 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/@hadeedmotorsltd\" aria-label=\"Hadeed_WEB_Banner_MG-2\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 1000w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:75\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:192\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1000\" height=\"250\"   \/><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>Prime Minister Gaston Browne defends Government\u2019s Strategic Jolly Beach Investment to Strengthen Social Security and Drive Long-Term Economic Growth Prime Minister the Hon. Gaston Browne has defended his government\u2019s bold and visionary move to safeguard the long-term sustainability of Antigua and Barbuda\u2019s\u00a0National Social Security Scheme, through the\u00a0transfer and redevelopment of the Jolly Beach Hotel\u00a0as part [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":242460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-242478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prime Minister Gaston Browne defends Government\u2019s Strategic Jolly Beach Investment to Strengthen Social Security and Drive Long-Term Economic Growth - 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\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prime Minister Gaston Browne defends Government\u2019s Strategic Jolly Beach Investment to Strengthen Social Security and Drive Long-Term Economic Growth\" \/>\n<meta property=\"og:description\" content=\"Prime Minister Gaston Browne defends Government\u2019s Strategic Jolly Beach Investment to Strengthen Social Security and Drive Long-Term Economic Growth Prime Minister the Hon. Gaston Browne has defended his government\u2019s bold and visionary move to safeguard the long-term sustainability of Antigua and Barbuda\u2019s\u00a0National Social Security Scheme, through the\u00a0transfer and redevelopment of the Jolly Beach Hotel\u00a0as part [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Antigua News Room\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiguanewsroom\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-07T11:22:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-07T12:35:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/07\/IMG_6650.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"737\" \/>\n\t<meta property=\"og:image:height\" content=\"735\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:site\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\"},\"headline\":\"Prime Minister Gaston Browne defends Government\u2019s Strategic Jolly Beach Investment to Strengthen Social Security and Drive Long-Term Economic Growth\",\"datePublished\":\"2025-07-07T11:22:55+00:00\",\"dateModified\":\"2025-07-07T12:35:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/\"},\"wordCount\":1070,\"commentCount\":10,\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:737\/h:735\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/07\/IMG_6650.jpeg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/\",\"url\":\"https:\/\/antiguanewsroom.com\/prime-minister-gaston-browne-defends-governments-strategic-jolly-beach-investment-to-strengthen-social-security-and-drive-long-term-economic-growth\/\",\"name\":\"Prime Minister Gaston Browne defends Government\u2019s Strategic Jolly Beach Investment to Strengthen Social Security and Drive Long-Term Economic Growth - 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