Saudi Arabia approves US$80 million loan for expansion of UWI Five Islands

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Prime Minister Hon. Gaston Browne has announced a loan for the expansion of the University of The West Indies Five Islands Campus.

The US$80M is being provided by the Kingdom of Saudi Arabia.’

SOURCE: State Media

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12 COMMENTS

  1. You too lie know!
    Did you give them any of antigua lands again to be used as collateral

  2. Borrow, Borrow, loan and borrow, this clown in chief is going to leave a debt crisis for our children’s children to repay further down the line.

    Where did he learn about economic issues?

    Was it from the roll of a dice 🎲 on a Monopoly board? Or his spouse Maria ‘Land Grab’ Browne?

    MUST BE …!!!

    • My people I tire of this..cause no administration prior never borrow, borrow, loan, borrow. Do you need to be reminded of the IMF loan, the loan for airport and power plant? We need to stop!!! When the MDCs of CARICOM..notably Barbados borrowed from the IMF we called de top dawg wicked for not doing the same cause we wanted stimulus. Please be consistent: if borrowing is bad then no administration can be praised for doing it. I await the usual inane response.

    • You like to remember what the debt to GDP ratio was under the UPP. 120 %. Gaston brought it down to 68%. It’s only because of Covid we have seen it climb so high again. But that is temporary as we grow out the economy, so will the debt to GDP ratio decrease. Hope you do understand those kinds of economic principles. You cannot just pay yourself out of debt. You have to grow yourself out of debt. The economy grew 7.5% last year. This year we calculate it to grow by 8.5% and next where we should have a debt to GDP level in the eighties once again.

      • You conveniently forgot the 2008 economic meltdown that collapsed the world economies. Guess Antigua was out of this world. Notice you never fail to mention covid.
        If the labour Government would leave money in the treasury when they leave office, the incoming government would have money to spend and not have to resort to borrowing.
        How are you going to grow out of debt if you don’t pay it down and keep borrowing? We know labour borrows and don’t pay.

  3. I was thinking more like #grant, instead of loan.
    Is the economy growing as fast, to repay these loans, so that, they don’t become too burdensome twenty-years from now.

    While the education facilities are educating more of the citizenry, and even further afield, will there be enough start ups, conglomerates, niche market in the future(tourism is a free for all), again, what industries, sector of the economy will have a demand for most of the graduates, say in five to ten years?
    Yes, we can export those that will become educated, but doesn’t this add, to a brain drain?
    What of salary? Will increases being offered by the Government(present & future ones) be attractive enough, to get them in the public sector?

    Antigua’s private sector, and of course, now that Barbuda is being brought into the fray, again, the private sector in many ways are dependent on the public policies, just to survive? The NAMCO initiative is one such alliance, partnership. Therefore, in essence, working for some private firms contracted and controlled by NAMCO, your still working for the government!

    We now owe China, who knows what. Yes, we’re growing but is there a price for growing like #Carolita. It pretty yes, but its growth can become overwhelming?

    The #Carolita!

    Ras Smood aka Jumbee_Picknee
    De ‘old Dutty Peg Foot Bastard!

  4. @ANR’s Editor – Fear is a Mofo!
    Yo! You can never get the #true #essence of Ras Smood even if you try, the Cloned Route, Identity Theft, then try to replace the #truth(Ras Smood) with your Clone…“Ras Smood’s yo…”

    I know, the #FEAR is real, so
    #Fear_This

  5. Why do you continue to borrow on the eve of election?
    Somebody please tell Gaston Browne that running a country does not mean borrowing money every month.

  6. Gaston borrowing is for infrastructure projects. Like the Port and now UWI Five Islands. Things tangible that we can see. UPP borrowed money from the IMF over three hundred million dollars and there is nothing to show for it.

    • @From The Sideline…”Gaston borrowing is for….things tangible that we can we.”
      Why yes, and these are some of the things which the borrower can put liens on, and or siege for lack of payments, depending on the contractual agreement(s).
      As for borrowing to upgrade the infrastructure, aren’t the infrastructural projects such as roads, street lighting all coming through grants?

      #INDEPENDENT FORENSIC AUDITING is what the Public Sector needs. You won’t be surprised when the shit hits the fan.

      #SING ASOT SING!
      #SING ASOT SING!

  7. What was wrong about the IMF loan.
    1.1% interest rate.
    Nobody lost their job. Don’t believe the ABLP lies.
    ABLP would not borrow from IMF because it would be difficult to misappropriate the funds. They are fearful of being caught stealing

    • Don’t worry, if Gaston is ever re-elected, the first place he is going to run to is the IMF. When you have a bad credit only loan sharks and the IMF may bail you out. He keeps hinting at it but his dumb or hypocritical followers can’t hear. After criticizing UPP, he wouldn’t go just before elections.

Comments are closed.