Source Real News Antigua: Former university lecturer Dr. George Daniel says that Prime
Minister Gaston Browne’s recent comments about the Global Bank of Commerce (GBC) pose a greater risk of destabilizing the bank than actions taken by depositor Jack Stroll. CLICK HERE TO JOIN THE WHATS APP GROUP
Last Thursday, February 22, Browne said the businessman’s current lawsuits could cause other GBC customers to lose some of their savings or investments in the financial institution.
Reportedly, for about five years now, Stroll has been trying to withdraw his money from the bank, and the matter finally led to him taking legal action.
In doing so, the businessman failed to honour an agreement for “secrecy,” Browne alleged during last week’s sitting of the Lower House, and put GBC’s viability at risk.
However, Dr. Daniel says the prime minister’s previous statement – that the Government was removing its holdings with the bank in order to reduce its risk – actually served to place the bank in jeopardy.
Browne needs to think before he opens his mouth, Dr. Daniel cautions, adding that what Stroll is doing now – withdrawing his money to reduce his risk – is no different from what the Government says it will do.
In fact, according to the former lecturer, the prime minister’s statement would sink any bank.
Meanwhile, Dr. Daniel says, Browne’s statement about the mechanism he plans on using to reduce the Government’s exposure does not make sense.
If the Government is not honouring its commitment with Treasury bonds, Dr. Daniel says, then how does it plan to raise the $600 million to make up the budget shortfall.
The 2024 budget is $1.8 billion; however, the Government’s revenue amounts to about $1.2 billion, which leaves the deficit to be raised through Treasury instruments.
But given the current situation, Dr. Daniel wonders who is going to take up any Treasury bills issued on the Securities Exchange by the Browne Administration, when it is not honouring its obligations.
Meanwhile, Dr. Daniel says, yet again, that the Government of Antigua and Barbuda has a finance-management problem, as it is not prudent with its spending nor efficient with its tax collection.
He underscores that the Gaston Browne Administration is broke because of bad management of the economy.
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
CLICK HERE TO JOIN THE WHATS APP GROUP
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Antigua!
We offer fully customizable and flexible digital marketing packages.
Contact us at [email protected]
@ Dr Daniel
Woah , we are in deep deep financial doo doo.
Antigua is sinking into an abyss.
Antiguans ”wake up, open up your eyes”, your country needs you, more than you realise.
Is it actually mismanagement — or creative enrichment schemes? Did Antigua suffer a knockout punch by the fraudster SBF/FTX crypto ponzi?
If you’re going to base a large potion Antigua’s economy around selling passports and helping foreigners dodge taxes, at least make sure the banks aren’t insolvent. Pretty basic stuff, guys.
Every government has corruption but goddamn our’s is transparent as a glass of water.
Hope the Prime Minister/Minister of Finance can “figure it out”
A lot of Antiguans either chat rubbish, are a Herd of sheep or a bunch of duncey bats. I am so ashamed when some of them call into their radio station to praise their prime minister for how the country is being run and then go begging him for house and money. The entrance to his radio station is a carnival of beggars on Saturdays when he is in studio.
He and the hosts on their radio station do nothing but put down any professional, especially women who do not support the Labour Party. These people on their radio station can not be and are not on the level with these people. The former head of the airport and the qualified lawyer who acted as head of the peoples parliament come to mind. Ms Athill who left UPP should be smart enough not to join the Labour Party as Gaston does not like smart educated people, especially women. He was on his radio station questioning Ms. Athill’s qualification and whether her doctorate was in some flusie area like sociology.
This government and their supporters don’t want an opposition party in parliament. They want the country to be a dictatorship where the big dawg barks and no one dare speak which is what is now happening in their party and is being transferred to parliament.
They sell Antigua passports and put the money in offshore banks. They have a company called Namco that holds all the government assets and put their ministers as head and board members and no body can see audited statements.
Antigua will never be better until we elect people whose primary goal is not self enrichment. And who do what they were elected to do by putting the country and it’s people first.
Do you think what is happening in Antigua could happen in a country like Barbados? But then Barbadians have always considered themselves the most educated people in the Caribbean.
The sad part about it is that the government has opened the flood gates to whom ever will may come. They have liberalized the marijuana laws allowing a lot of young to damage their brains rendering them unemployable and becoming criminals terrorizing people in their homes and business.
What is happening in Antigua would never happen in any other country with an enlightened, educated and sensible population.
WESTON:I am calling on you to go and help THE DAWG,with his Finance Department.It would appear that since you left Finance.He cannot even count his fingers and toes.
LENNOX WESTON:I am calling on you to go and help THE DAWG,with his Finance Department.It would appear that since you left Finance.He cannot even count his fingers and toes.
@Observation
You are so right.
The Antiguan people has been served disinformation for over 60 years; supported by transactional politics.
Dr. Cleo Athill resigned and stated she was not interested in transactional politics.
She came to realize, UPP philosophy about politics was not very different from their opponents; and they’ve can never win by pursuing a politics based on transactional politics. It requires resources and UPP don’t have it.
Chatting rubbish in the radio and on social media is a byproduct of the culture and sensibilities they have been fed for 60 years.
It’s a from of therapy to deal with daily pressures.
In spite of how much we may dislike the radio rants; with ABLP owning most of their brain cells; without these outlets, most would be seeking mental health help.
There is a realistic way out way out of this nightmare
The Churches/Ecuminicals/Faith Leaders are the only ones to end this nightmare. Until they choose too, and corral Civil Society; radio ignorance and handouts will continue to be one of the tools used to maintain this authoritarian state.
@Countryman Abroad…”everywhere is war! Wars! Wars! Wars! Until the philosophy which holds one’s[hue]race superior, and another, inferior; everywhere will be wars! Wars! Wars! Rumors of wars!”
You know who made this saying famous!
The churches, ecumenicals, faith[fake] leaders, are the same ones, that are responsible for the establishment of governments, to control the People and collect the churches loot/filthy lucre.
The church and state are partners in crime[Bonnie & Clide] style. They feed off each other for in the same god they trust[MONEY]. They are cut from the same cloth.
If the churches, ecumenicals, faith[fake] leaders fix or recall what they designed to control HUEmanity, they’d be bankrupted and be out of business.
Jumbee_Picknee aka Ras Smood
De’ole Dutty Peg🦶🏿Garrat_Bastard
Vere C. Edwards
The old saying: Garbage
in and garbage out.
They the politicians and power brokers love it; for what keeps them in power while they enrich themselves.
Comments are closed.