IMF Calls for Stronger Oversight of Credit Unions in Antigua and Barbuda

1. I guess they’re tired of seeing the average man be able to get a loan and own a house

2. Inflation better remain low. Cause we cant afford it right now

3. Numbers looking better on paper, now people want feel it in dem pockets.

4. Would be nice to see prices stabilize for real now.

5. CREDIT UNIONS are next to fail similar to the collapse of GLOBAL BANK OF COMMERCE you would lose your deposit. There are no REGULATIONS in place by the GOVERNMENT of ANTIGUA and the EASTERN CARIBBEAN CENTRAL BANK to protect your money it would be similar to what occured at STANFORD INTERNATIONAL BANK ponzi scheme headed by ALLEN STANFORD who is serving 110 years in a Texas prison.
   After paying out their cronies,friends and family they would place the credit union into ADMINISTRATION for protection against the depositors taking legal action.
   GASTON BROWNE controls the high court judges they would frustrate the case and you would have to wait a long time for a ruling from the ANTIGUA HIGH COURT, similar to what is happening to CLICO POLICYHOLDERS in ANTIGUA.
   It is over 17 years the CLICO DEBACLE is ongoing with no end in sight. The ADMINISTRATOR of DELOITTE ACCOUNTING is awaiting on a ruling from the ANTIGUA HIGH COURT reference to the MATTER.
   NOTE: Delivery of Judgment AGOJ2021/001 – Ellis Richards and Others v Republic of Trinidad and Tobago on the 22 OCTOBER , 2024 by the CARIBBEAN COURT OF JUSTICE the final court of APPELLATE with reference to the BAICO/CLICO insurance company DEBACLE.

   The CCJ’s Judgment highlights the failure of CARICOM to put in place a framework to protect and provide equal treatment for all consumers across the Common Market.

   The Court observed that despite the provision contained in the Revised Treaty of Chaguaramas (RTC) for Member States to promote the interests of consumers in the Community by appropriate measures, no specific measures existed which were enforceable against TRINIDAD AND TOBAGO.
   To date there are no REGULATONS in place to protect your deposit.(RACKETEERING}.

6. RACKETEERING ensnared the economy of ANTIGUA and BARBUDA.

7. Clico crisis: ‘Regional cooperation lacking’
   Mar 4, 2009 .

   THE REGION has not co-operated enough in terms of how each country regulates its financial matters, and the CLICO crisis has painfully exposed this.

   This is the view of Trinidad and Tobago’s Central Bank Governor, Ewart Williams, who admitted this yesterday at the end of the one-day regional leaders meeting between the Eastern Caribbean Currency Union (ECCU), along with Barbados and Trinidad and Tobago at the Hilton Barbados.

   “One thing we need to recognise and we need to confess … is that perhaps there has not been sufficient regional co-operation on regulatory matters,” Williams told regional leaders and the media.

   He said his own country represented at the meeting by Prime Minister Patrick Manning, who had to leave early to host a press conference on the Summit of the Americas could not escape blame, noting that “sometimes one gets the impression we are going our separate ways, not realising that in the final analysis we are one regional space”.

   Williams said if there was one thing the current regional financial crisis should underscore was the need for regional states to work more closely, not only to be able to anticipate crises but to respond in a co-ordinated way anytime another crisis arose.

   “There are a number of lessons to be learned from this CLICO issue, and it certainly is need for much more regional co-operation than has occurred in the past,” he added.

   Williams pointed out that, even with the best regulation in the world, one could never guarantee that some institution would not face critical challenges either because of exogenous factors or excessively risky behaviour.

   He added that the job of the regulator was to seek to get an early-warning system in order to quickly recognise the institution that is finding itself in trouble, and secondly, to have arrangements in place not only to deal with the specific institution but to minimise contagion within the system.

   NOTE IMF: The CCJ’s Judgment highlights the failure of CARICOM to put in place a framework to protect and provide equal treatment for all consumers across the Common Market. Also, THE REGION has not co-operated enough in terms of how each country regulates its financial matters and the CLICO crisis has painfully exposed this. This is the view of Trinidad and Tobago’s Central Bank Governor, Ewart Williams.

   The Government of Antigua and Barbuda should issue bonds to pay off the CLICO policy holders through the Eastern Caribbean Central Bank. Barbados Government recognized the suffering and took compassion on its people to bring a closure to this long outstanding issue through the issue of bonds.

8. Gaston Browne thinks he owns ANTIGUA, and the WORLD owes him a living. AMERICANS pay taxes through their nose .I am calling on the IMF to EXERCISE “EXTRA DUE DILIGENCE” before approving new LOANS to the GOVERNMENT OF ANTIGUA, until the GOVERNMENT address arrears to the Paris Club creditors and domestic suppliers, expand financing options and create room for resilience-building investments and address the CLICO/BAICO debacle in order to attract FOREIGN DIRECT INVESTMENTS, stimulate economic activity and confidence in the ECONOMY by paying the CLICO/BAICO POLICYHOLDERS THEIR MONEY. We work hard for our money to be snatched by a PIMP, we need our money to survive.

9. THE LARGEST CONTRIBUTOR TO THE INTERNATIONAL MONETARY FUND (IMF) is the UNITED STATES of AMERICA which holds approximately 82.99 BILLION SDRs (special drawing rights), accounting for about 17.42% of the total quota shares.This significant shares gives the U.S. considerable influence over the IMFs governance and policy direction. Following the U.S., JAPAN and CHINA are the next largest contributor, each holding between 5.5% and 6.5% of the total quota of SHARES. I am pleading to the US TREASURY SECRETARY Mr. Scott Bissent to intervene. Americans pay TAXES through their nose. GASTON BROWNE thinks the world owes him a living by offering GIVEAWAYS, to maintain POLITICAL POWER by buying votes.GB you will have to Address Arrears, Tighten Spending And Expand Tax Base recommended by the IMF.GB You will have to comply to the IMF policy or go to RUSSIA, CHINA or NORTH KOREA for future LOANS.

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