OPINION: From Concerns to Action: Empowering Civil Society in Antigua and Barbuda’s Debt Dialogue

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From Concerns to Action: Empowering Civil Society in Antigua and Barbuda’s Debt Dialogue

I would like to expand on the headline article “Civil Society urged to hold Government accountable for debt management”

The message of the article are among the most important issues that should be addressed part of local public discourse .

Unfortunately the article presents a limited perspective without the intent to do so.

 

There is a false narrative about debt in general and sovereign debt as part of the political discourse.

 

There is nothing wrong with debt, if not only you are able to service the debt; but the debt incurred goes towards creating assets that produces value.

 

Debt is not always a bad thing. In fact few operating entries whether Public or private is unable to grow without debt.

 

Antiguans and Barbudabs are concerned about sovereign debt primarily due to little long term sustainable value are are gained; and it appears the Country has no way of getting out of debt, without paying dearly or giving up itself to it debtors. Those concerns are not without merit.

Among the main reasons why debt is such a major concern is a result of the ballooning debt, with no seemingly viable way out.

 

Even Facebook one of the most valuable companies there is; raised billions in debt when it went public. Most Antiguans and the rest of the free world are active users of Facebook. Each person or company registering on Facebook adds incrementally to its income, its value and its ability to service its debt.

The hours posting and actively using Facebook, earns Facebook money some of which goes to service its debt.

Facebook stock is among the best performing tech stock, but it keeps billions of debt on its books.

Part of the success of Facebook and all other public owned companies is its independent board. The independent directors together with the C-suite board keep tabs on management. These independent Directors many of whom run other businesses, advocate for the interest of stockholders.

 

Others are in the board of directors primarily to shake up the Board and the company.

Similar to Disney currently facing a fight over bringing more independent directors.

 

Most importantly the article mentions Private sector groups and Civil Society Organizations( SCOs) in any in Parliamentary Democracy those independent directors in non governmental entities are its Civil Society Organizations.

They carry out similar roles to the independent board members. They bring broad professional and specialized views to the table. They speak in behalf of the public. Civil Society Organizations are normally referred to as: Good Government Groups.

 

They are visible and actively engaged in the community. They solicit ideas from the public and pressure Government to act on those ideas and concerns.

 

There are complains about many aspects of life in Antigua and Barbuda from portable water supply to the healthcare system.

 

No other entity or group than Civil Society Organizations that can light a fire under the seat of Minister Sir Molwyn Joseph to bring comprehensive improvements the Healthcare system including SLBMC.

 

Brave hearts of the Opposition can March in the sun with signs all day long; day in and day out. They are wasting their time. Individuals on the radio complaining is just entertainment. These acts do not move the needle.

 

Civil Society Organizations are the nemesis of the entrenched groups in any society. The Entrenched fight to keep the status quo. Civil Society bring moral clarity and know the difference between right and wrong without being self serving.

 

Whether it’s national debt consultation or any other national issue; in the absence of robust Civil Society Organizations the entrenched power structure will continue to enjoy the status quo today, and don’t worry about tomorrow.

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1 COMMENT

  1. Gaston Browne and his Cabinet are like Robber Barons whose motto is ‘Let the public be Damned’ rather than “Let the Public be Served”

    Civil Society Organizations are needed to help establish and uphold standards and advocate public policy, and hold elected officials to higher standards.

    That critical need for organizations with standards setting power is missing and overdue.

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