Lovell condemns Browne’s secret cancellation of US$200 million bond and speculates on reasons the deal fell through

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“A comedy of errors.” This is how Harold Lovell describes Prime Minister Gaston Browne’s announcement that his Administration has cancelled the US$200 million bond that it floated on the international market. CLICK HERE TO JOIN WHAT’S APP GROUP

During Tuesday’s sitting of the Lower House, Barbuda MP Trevor Walker asked Browne, the Minister of Finance, about the status of the bond. Browne confirmed that the bond was indeed cancelled.

In February, during the 2022 Budget presentation, Browne reported to the Nation that the bond had been oversubscribed, and he subsequently indicated how the funds raised would be spent.

With the cancellation of the bond, Lovell says it now appears the Government was counting on a single investor, or entity, and not the multiple investors one would expect from the use of the term “oversubscribed.”

He says that news of the bond’s cancellation has dashed the hopes of many, including the Social Security pensioners and the former Jolly Beach and LIAT workers who were sent home without their severance.

As a former Minister of Finance in the United Progressive Party Administration, Lovell points out that EC$540 million represents 50 percent of the national budget and is a significant part of the country’s Gross Domestic Product; accordingly, this money could have been used to boost the economy.

Lovell says the country’s credit record could have been among several determining factors which caused the investor to pull out.

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13 COMMENTS

  1. WASHED UP Lovell . SHUT your DAMN MOUTH. We shall release the name of the RAPIST Candidate from the EAST shortly.

    • THE TRUTH HURT SO BADLY…..ARE’NT YOU USEFUL IDIOTS EMBARASS THAT THIS ECONOMIC POWER HOUSE HAVE NO CREDIBILITY WHETHER LOCALLY, REGIONALLY OR INTERNATIONALLY?

      GASTON MASH UP ANTIGUA GOOD NAME WITH ALL THE RACKET HE AND HIS ENRICHMENT FRIENDS CARRIED OUT. JUST ONE I CAN RECALL NOW : ODEBRECHT. TRY AND TURN PEOPLES MIND OFF YOUR AWFUL RECORD. OF ALL THE COUNTRIES IN THE ODEBRECHT SCANDAL, ANTIGUA WAS THE ONLY ONE THAT DID NOT CO-OPERATE WITH THE INVESTIGATORS!!!!

    • EB I dare you to release the name. In the mean time go and wash your dutty kin. Oh, no water dey. Hush yu narsy, dutty mout

    • What does that have to do with Lovell? Speak to the issue;that’s what you need to do. Nobody is learning anything from you.

  2. Any righ thinking person would have known that placing usd 200.0M of debt at 4.5% for an unrated country like Antigua was never going to happen. Who I am surprised at though is Lennox Weston who ought to know better… You too bright Lennox to believe you own hype!!!!! It can’t happen when US Treasuries are trading at 3.0%. Come on Lennox!!!! Finance 101!!!

    • LOVELL LOOK MUCH YOUNGER THAN GASTON……I WONDER WHICH PICTURE YOU LLOKING IT?

      GASTON LOOK OLD OLD AND BEATEN WITH ALL THE OLD CREASES SHOWN IN HIS FACE FROM STRESS!!!

      WHAT A HITLER CREATURE 🤣

    • He look much better than you. Go and look at your ugly face.
      Pete you have one nasty, dutty face and 25 names.
      Pete the failed deceiver backing the failed experiment!

    • Pete I hope that despite all your sins that you are still as handsome as when you were 25.

  3. I see some of you are ready to kill the messenger. While the message goes over your heads. My guess you people are not concerned.It is your damn country so you had better be concerned.Gaston Browne has that Cavalier attitude. He thinks Antigua is willed to him and his GBLP.

  4. Can a sensible person really say that it is okay that gaston browne or anyone from his government was right not to have advised the public that the government had cancelled the bond when they had told the very same public that the bond was over-subscribed? (That is more people wanted in on the bond than the government needed).

    People in Antigua really so stupid? For real?

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