Ministry of Finance Announces Sale of Alfa Nero for US$40 Million

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Ministry of Finance Announces Sale of Alfa Nero for US$40 Million

ST. JOHN’S, Antigua and Barbuda – 19th July 2024…….. The Ministry of Finance and Corporate Governance is pleased to announce that the Antigua Port Authority has successfully concluded the sale of the Alfa Nero for US$40 million and the consequential prompt removal of the yacht from our jurisdiction. Alfa Nero has been moored in our jurisdiction since February 2022. The extended stay of the vessel has presented significant financial, environmental, and other challenges for Antigua and Barbuda, which the government has diligently worked to address.

The proceeds from the sale will be used to fulfill various obligations, including settling outstanding debts owed to creditors and the crew since the yacht’s arrival.

In addition to covering these debts, a portion of the proceeds will be allocated to address the $220 million funding gap recorded for the first half of 2024. This strategic allocation of funds underscores the government’s commitment to maintaining financial stability and addressing critical fiscal needs.

Furthermore, the government will undertake a comprehensive assessment of the economic impact resulting from the vessel’s prolonged presence in our waters. This evaluation will include determining any damages incurred over the past 24 months, with the goal of ensuring accountability and preventing similar occurrences in the future.

The government expresses its satisfaction with the resolution of this matter and remains dedicated to safeguarding our environment and maintaining fiscal health.

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10 COMMENTS

  1. Now we have the $10Mill needed for LIAT 2020 to be airworthy…Problem solved on that

  2. Please give Barbuda the $1M US donation from 2017. Stop holding on to what was given to them. The Foundation specifically stated what they want the money to be allocated to.

  3. @this world is a messed up place – You really think LIAT 2020 will see that?

    @Do The Right Thing! You really think Barbuda will see that?

  4. Giving Gaston Browne and his hoodlums money is like catching water in a sieve. This money will vanish. Oh they’ll throw a few dollars here and there for show,but with no proper accounting or audited reports, the bulk of it will go missing. Just like the 1 million and 550 thousand Barbuda relief money.
    Anthony Smith, you have no idea what your treachery has done to this country!

  5. I wish I had 50million dollars then buy the Alfa Nargo. I would then sail it close to Russia so that Putin could take it. If successful, I would then cash in on the indemnity given by Gaston and get back my money. My only other wish would be that only ABLP supporters pay the money

  6. Just like they stole the yacht and sold it while it is still under litigation, you think Gaston and them will honour any indemnity? The buyer knows the situation with the yacht and would still buy it because he may think he is getting a bargain. He deserves what comes to him. Don’t be surprised if this so-called buyer backs out.

  7. The way things are in Antigua and Barbuda today.Gaston Browne could set eyes on a property and claimed it on behalf of the Government.Then he could then in turn purchase it from said Government,for personal use.The law is on the books.Those damn high priced yacht owners are going to be fearful about coming into Antigua.For their Yachts could be seized at will.

  9. LMAO!!!
    They could tell us how they intend to spend the money but NO information on the owner. Isn’t it our right to know? Isn’t it tax payers money that was use to maintain yacht? SMH
    LMAO.

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