Prime Minister Gaston Browne announced that a significant portion of the funds from the sale of the super yacht, Alfa Nero, will be used to pay off the country’s external national debt.
Up to two-thirds of the remaining funds will be allocated towards debt repayment.
The outstanding amounts owed by the vessel are around US$7 million, with the remainder of over $100 million going towards reducing the national debt.
PM Browne reaffirmed the government’s commitment to settling outstanding amounts owed to local and other creditors who supported the vessel during its operation.
This includes Falmouth Harbour Marina, the West Indies Oil Company, and other creditors.
The sale of Alfa Nero took place through a televised public auction, ensuring transparency and involving representatives from the clergy, private sector, and judiciary.
The process was overseen by the Director of Audit and the Accountant General.
PM Browne expressed pride in the transparent manner of the process, stating that it showcased Antigua and Barbuda’s capacity and served as a roadmap for future developments involving sanctioned vessels.
The prime minister thanked all participants and emphasized the significant transparency achieved through live television coverage.
The disposal of Alfa Nero demonstrates the country’s ability to handle sanctioned vessels and provides a transparent model for similar actions worldwide.
SOURCE: Pointe Xpress
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Make sure you pay into Social Security. I need my Money. Too much suffering after a year and months of not getting paid for what is due to me.
We can all assume where the balance of that money will go. Note, no mention of ALL of it. Talk about transparency. I will be following the national debt figures going forward. Dissclaimer: to the dunce laborites, read the article properly before commenting…
How much is the national debt? Are payments towards the debt really going to make a dent? Social security is owed half a billion courtesy of the Lester Bird administration; solid waste workers were given letters, are you going to pay them; civil servants are owed back pay, are you going to pay them?
I don’t trust a word this liar says. The money will disappear into their pockets.
This idiot has no history of doing anything for Antiguans and Barbudans so why expect anything? Let’s wait and see.
Sipping my tea and watching on the sidelines with Kermit….we waiting to see.
Any going to the piece of shit UPP WADADLI POWER CAN’T??
The UPP Chinese-built and funded, Wadadli Power Plant, has been plagued by several operational challenges since 2011
“While the electricity business unit manager stopped short of giving an amount, he said Antigua and Barbuda is STILL REPAYING DEBT FOR THE PLANT”
Power plants normally have a 20 to 30 year lifespan.
R.i.p Wadadli Power Plant 2011-2016 “NEW” engines!!
@Smh, again, stick to the damn point in question. All you ever do is blame UPP and mud sling. Gaston Browne has been in control of our money for 9 years. What do we have to show for it? He collected in excess of 12 billion dollars, not to mention the 100 plus borrowings. Speak to that. Repaying debt? When this idiot is done, we will be paying debts for the next three generations. What damn Wadadli Power Plant? What about the failed RO plants they keep bringing in here? Have we paid for them?
The topic is what is he going to do with the pirated money? What deal did he concoct with the US government to sell this thing? Still waiting to see when it all comes to the light.
UPP put a millstone around Antigua neck!! Why Lovell Limpy Joe IMF Pimp and Baldwin Spencer did NOT get the REQUIRED PARLIAMENTARY APPROVAL???
Now taxpayers are stuck paying for UPP’s 💩 💩 💩
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