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Dr. Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines, has condemned the Eastern Caribbean Central Bank’s decision to allocate EC$22 million for a new official residence for Governor Timothy Antonine
In a letter to Antigua’s Prime Minister Browne, current chair of the ECCU Monetary Council, Gonsalves condemned the move as an “absolute scandal.”
He argued that the expense, particularly the construction of a 10,000-square-foot mansion, is unjustifiable given the region’s economic struggles, with rising food prices and widespread poverty.
Gonsalves expressed shock over the decision, accusing unelected officials of extravagant spending while the region’s people face financial hardship.
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A mansion worth EC$22 million? That’s a bit much considering the current economic climate.
While the criticism is valid, I wonder if the ECCB’s decisions are purely financial or political.
It’s disappointing to see public money spent this way when there are so many other needs in the region.
Dr. Gonsalves makes a good point—why spend so much on a mansion when we could be addressing poverty?
A mansion for the central bank? That’s hard to justify when so many people are struggling.
I totally agree with Prime Minister Gonsalves.
This critique by Dr. Gonsalves highlights the lack of accountability in how public funds are spent.
In my opinion, Dr. Gonsalves isn’t wrong. Public institutions should be setting an example of modesty, not excess.
But it’s true, I can’t believe what I am seeing. ABSOLUTELY SCANDALOUS.
If we’re talking about fiscal responsibility, this certainly doesn’t fit the bill.
Dr. Gonsalves raises a valid concern—let’s hope the ECCB addresses the public’s unease.
A little humility could go a long way. A mansion of that value could be seen as tone-deaf.
When I made the reference with Gaston Browne stuardships failure at the ECCB and that failure that resulting long lines at local banks.
His #1 Faithful was confused
Here it is that Ralph Gonzales and other Prime Ministers who are generally the Minister of Finance for their respective countries, and allowed this extravaganza to take place should be all ashamed and accept responsibility
While customers across the Eastern Caribbean are subjected to unscious and unjustifiable high mortgage rates, high fees snd poor service including long lines.
These Prime Minister are all asleep at the switch: meaning they are suppose to be the drivers, and they all fall asleep over the steering wheels.
It is this level of neglect that results in long lines at the tellers counters. It is also why the ATMs do not work.
The ECCB is supposed to be a regulator who also set standards among other roles.
The only standard being established is the hight on the hog lifestyle of the so called Governor of the ECCB.
It will be interesting to see how this gets addressed, locally and within the OECS
I agree! Absolutely scandalous given the dire economic circumstances of the majority of the people whose funds are being used in this scandalous manner! What’s wrong with us????
What would Gaston be concerned people of his ilk like living high on the hog, I think he absolutely agrees with that type of extravagance
To: The Faithful national #1
Aha! Someone finally made you peek your head out from between the cracks of Gaston’s ass 💩to smell some fresh breeze😂😂😂.
The truth about what Dr. Ralph Gonsalves is saying is exactly how the finances of the Antigua & Barbuda public coffers are handled, by Gaston ans his masqueraders.
Dr. Ralph Gonsalves and other members should demand an inquiry into the allegations which he’s making.
MP Richard Lewis attempts are being stifled locally. Pringle is a waste of good time and space, so, just maybe Gaston’s shenanigans will be exposed through regional efforts.
Just as the ECCB holds the Bank’s in the OECS accountable, our Government’s should hold the Governor of the ECCB accountable. PM Gonsalves is right and our Prime Ministers Mitchell, Pierrepont and Skerrit should join with PM Gonsalves to put a stop to this massive extravagance. That is a mansion, not a house.
The governor should have been the first to give the thumbs down to this extravagance.
He has been governor too long. When they stay so long in power they become arrogant, greedy, authoritative and full of themselves. Maybe he and his friend can now compare mansions. His friend is building a palace here in antigua. Of course, on a hill.
The time has come that progress in our region should encourgage progressive thinking. The ECCB Governor’s Residences have always been palatial at the times they were built. When Sir Cecil Jacobs occupied the dwelling at Fortlands Bassterre it was quite palatial for its times. No one outside knew there was a bedroom for the dog. We didd not know of the grand size of the rooms that were themed. No one outside knew of the with mutiple kitchens and dining rooms on different levels and in the court yard.
In 2025, the focus should not be wanting to put our limits of thought and understanding on the standards of housing we create for our heads of state, government, and public institutions. We should not display our limited appreciation for increasing standards and future thinking. Please recognise that while we are debating whether such a palatial resident is befitting the head of our premier monetary institution or not, the recommendation out there is to pass this property on to the Government of Saint Kitts and Nevis for the head of state or government. Why not the Governor and future Governors of the ECCB?
This type of bickering is beneath us. $22 million XCD or 8 million USD on this property is a worthy investment on the property if it is well built and can serve the bank for the next 25 to 40 years. The building is not about the man who is in the seat today, but about for progressive forward look of the Bank.
Just build de darn ting and worrry about more important monetary matters please.
@Denvau
Then when you can’t get your pension payment, or there is no money to construct or upgrade a school, would you then start to curse that the money went into building a palace for the uppity governor to live in while schoolchildren can’t get proper labs in their schools? Why is it necessary for a governor to live in such splendour?
People like you only think about today, this is why the politicians use you all like shooting fish in a barrel.
Thank you! Antigua Newsroom, for bringing this to the public’s attention.
Ironically it speaks to the failure of the media in the Eastern Caribbean, that this project went beyond the drawing boards.
This is $22 Million mansion that could have been in the banks retained earnings to upgrade their digital platforms, reduce interest rates and hire more staff and reduce waiting lines: while making baby steps into the world of secure digital banking.
Maybe this will be the impetus for the public to focus on such an important institution such as the ECCB and CARICOM that affects their way of life and welfare.
I have contended that there is a level of ineptitude at the ECCB which is reflected in its report on its trading and hedging of the reserves to keep the ECCB dollar on par with the US currency.
When ECCB banks local banks are burdened with regulations to satisfy the ECCB ineptitude and laziness, the Eastern Caribbean population are the victims.
This is a matter that should be kept in the public’s eye. At the end of the day this structure is owned by the public.
The ECCB isn’t short of money so they can go ahead and built this palace. Eventually this palace would end up on ECCB’s bank note to demonstrate the prestige of the ECCU. Nothing is wrong with showing the world how much money ECCB has. I’m sure many people are filled with pride when they look at the various EC notes. It’s worth it.
@DenVau
I hate to pile on; but I would argue that you are not just clearly living in the past; this conversation is above your pay grade.
By your own admittance few knew that Fortlands Bassterre, it was quite palatial for its times. Why should we relive or repeat our mistakes
If I may use this analogy. Just because a head of state of a Country or any other official got away with stealing does not mean that the head of state that follows him or her should also get away with stealing. That’s what your analogy suggests.
What does this person as Governor of a group of small regional banks do that he requires to live in this type of structure?
From my point of view, he should build it out of his own pockets if he wants to life in that lifestyle.
Is the Governor holding conferences and state dinners with heads of state from foreign counties, who need to park their jets in his driveway?
This is an ego Mac-Mansion. We should not be paying to satisfy his ego
Your writing: “We should not display our limited appreciation for increasing standards and future thinking”. That statement id beyond rhetorical and meaningless.
What we appreciate is not being ripped off, and we don’t want to be paying for a mediocre individual to live high on the hog.
What the citizens and businesses of the OECS are looking for; are increasing standards of service at the banks.
1. EASE IN WHICH TO OPEN A NEW ACCOUNT, 2. SHORTER LINES AT THE BANK, 3. LESSER FEES TO HAVE AN ACOOUNT AT THE BANK, 4. ATMS THAT WORK, 5. BETTER CUSTOMER SERVICE.
@ Bilbo from All Saints,
Go into town; rob a few banks and come back to All Saints cross roads. Stand in the middle of the road,stop traffic and start showing how much money you have.
No one coming from Jonas Road Matthews and All Saints road will miss your display
The ECCB needs to start looking for two things.
A successor to the ECCB Governor and a buyer for the property.
Beside this public discovery. This person has been a failure. For some 8 years he has been trying to fill out ECAB
He is now at ECAB.2 struggling to have it accepted by merchants. A failure by any measure with promises, promises promises.
The credit rating system is another in the works disater.
His banking policies are among the things holding the OECS back
Wow a nice 2 million dollars house to me would have been great. Yes it definitely shows how we lavish public funds. How we are lack humility as a people. You come from poor beginnings and have risen to the top, instead of operating with accountability ,integrity and humanity you get on your high horses and want to live like you belongs to Buckingham.
Anyone that is involved in a decision like this needs financial counseling. In my book should be fired immediately. Poor people loose their jobs for far less. Single parent maids loose their jobs because they are late as a result of having to drop of their children to daycare. Bar tenders lose their jobs for pouring too heavy. Farm workers loose their jobs for not weeding enough beds. The guy cutting beside the road loose his job because he did not cut a large enough area. Gas station attendants loose their jobs because they cannot balance out at the end of the day.
PROFITS FROM PUBLIC DEPOSITS: …EXTRAVAGANTLY RECKLESS: …HOG IN A PALACE…?
Pitiful to ‘…DWIGHT VENNER.’
Though he lived not in a ‘…MANSION nor PALACE,’ at least, his ‘…Afro-haired picture graced the ‘…ECC NOTES OF LEGAL TENDER.’
***
Sometimes some ‘HOGS’ prefer ‘…PALACE TO MUD.’
***
The ‘…Expenditure of ‘…PROFITS FROM PUBLIC DEPOSITS’ on that which was described as ‘…GOVERNOR’S MANSION,’ really and truly seems ‘…EXTRAVAGANTLY RECKLESS.’
***
Know, that this may be ‘…ONE HOG IN A PALACE’ that will never return to the ‘…MUD.’
***
Who owns the central bank? Why should Dr. Gonsalves be surprised about this scandalous expenditure? Did his finance Minister not send him the memo? The cost started at 7 million and now it has leaped to 22 million over 200% increase. That project must stop and the Governor should resign, if not Lamborghini, Bentley and Rolls-Royce will be on the ECCB shopping list Christmas.