Caribbean Times 99th Issue - Thursday 16th February 2017

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2 c a r i b b e a n t i m e s . a g Thursday 16th February 2017 Weston draws the line with IMF By Everton Barnes The Antigua and Barbuda Government and the International Monetary Fund (IMF) are at loggerheads over the way forward for the country now that it is coming to the end of the IMF assistance programme. Minister of State in the Ministry of Finance, Senator Lennox Weston made the disclosure on Wednesday when Editor’s Note Caribbean Times is printed and published at Woods Estate/Friars Hill Road. The Editor is Justin Peters. Contact: Caribbean Times, P.O. Box W2099, Woods Estate/Friars Hill Road, St. John’s, Antigua. Tel: (268) 562-8688, Fax: (268) 562-8685. Visit us online at our website: www. caribbeantimes.ag We ask you to send: Pertinent news items to news@caribbeantimes.ag. Advertisement inquiries to accounts@caribbeantimes.ag. Letters to the editor to editor@caribbeantimes.ag he opened debate on the 2017 National Budget in the Upper House. Weston said the matter came to a head when the IMF came to discuss economic issues with the government in January. He said rather than being happy with the country’s progress, the IMF representative was in his word ‘angry’. He drew historical reference to Jamaica and Guyana which have endured many years of IMF prescriptions but which are still having serious economic difficulties. He blamed this on what he called the ‘failed Washington Consensus’, which is a standard IMF recipe of devaluation, reduce employment, opening of markets to foreign investors and selling-off national assets. “We thought that the IMF would have been happy that we are coming out of a hole. Instead, I have never seen anyone so angry. “When they were here the last time I had to ask them if they felt that this was Michael Manley in Jamaica or Cheddi Jagan in Guyana,” he reported. Weston said the IMF representative indicated that he had a message but that had to be delivered by people senior to him as the message supposedly had nothing to do with economics, but it was political as Antigua and Barbuda was embarrassing the institution. He added that the IMF representative noted that the government was not servicing loans to the Japanese and to France and on that basis the representative also threatened to blacklist the country, its Citizenship By Investment programme and its investment prospects. The minister of state indicated that the next round of meetings is scheduled to Well-known felon, Seth Clarke of Bathlodge was sentenced to 14 months at Her Majesty’s Prison on Wednesday. He appeared before Magistrate Clarke in the St. Johns Magistrate’s Court charged with three counts of Assault with Intent to do Grievous Bodily Harm. He pleaded guilty to all charges and was convicted and sentenced to one year on one count, and 14 months each on the other counts. His sentences are to run concurrently. The Court heard that on the morning of November 16th 2016, Clarke was spotted by the police in the Ottos area dressed in all dark clothing with a bag and acting suspicious. He was pursued by the police and in the process of apprehending him he armed himself with a cutlass and launched an attack at the officers. He was shot in the process and taken to the hospital, where he was treated and discharged. take place in April. He said the government will chart its own course for development irrespective of what reaction comes from the IMF. He added that the entrepreneurial socialism as articulated by Prime Minister, Gaston Browne, forms part of the government’s own vision to move Antigua and Barbuda forward. “We go to the same schools that they do. However, we live here; we know what is in the best interest of our country and we will demonstrate that to the IMF and the world,” he declared. On its website, the IMF noted that the customary press statement that usually follows a national economic review has been withheld at the request of the government. The former UPP government entered into a 3-year IMF loan programme which comes to an end this year. Clarke sentenced to 14 months Seth Clarke
Thursday 16th February 2017 c a r i b b e a n t i m e s . a g 3 Senator Lovell responds to Budget Debate, outlines agenda The United Progressive Party yesterday issued a press release outlining its plans to remedy Antigua and Barbuda’s economic issues identified by Senator Harold Lovell in his Senate Budget Debate Response. Senator Harold Lovell laid out a transformative agenda for Antigua and Barbuda that focuses on the optimization of the nation’s untapped potential -- creative, intellectual and natural resources, while emphasizing the need to incentivize more domestic investment. The Press Release indicates that UPP Political Leader, Lovell raises the bar with a number of innovative strategies, solutions and incentives that will establish a strong bond between concept of entrepreneurial government and the U-conomy. This party-coined platform is expected “give more power to the people” by providing sustainable development opportunities for Antiguan and Barbudan entrepreneurs, small businesses and partnerships through innovative grants and incentives. The U-conomy will have a recovery and growth agenda that focuses on jobs and wealth creation, training and support for small businesses and entrepreneurs and a greatly enhanced business and investment climate. This strategy will ignite an economic renaissance and create hundreds of jobs, particularly within cottage industries like farming, agro-processing, textile and clothing production, food production and craft making. Lovell also emphasizes the need for effective longterm planning and increased investment in key productive sectors such as Tourism, Agriculture, ICT and Knowledge based industries, while exercising greater fiscal discipline in infrastructure, affordable housing, health and education. Senator Lovell outlines the first phase of a robust National Development Agenda that the UPP will implement to tackle key issues, in light of the country’s stagnated economy and failed social programs. He identifies domestic investment, people empowerment and the elimination of UBT as the key strategies for stimulating the economy with the main goal of “Restoring Pride and Prosperity” to Antigua and Barbuda. Some of the highlights of Senator Lovell’s Budget Response presentation include: 1. 1000 jobs in the first 12 months 2. High speed internet 3. Reducing work permit fees in the first 7 days of the new UPP administration 4. Repeal of the UBT in the first 60 days while also providing more support for SMEs 5. No re-introduction of PIT 6. 3-month unemployment safety net linked to training 7. PROPULSION - innovative grants and incentives for entrepreneurs 8. Education Empowerment Zone a 1.5 sq mile area of academic institutions underpinned by a UWI linked 100% FINANCING FREE INSURANCE & LICENSING Don’t Dream it. Drive it FREE ONE YEAR SERVICE & 3 MONTHS GAS FACTORY & AMERICAN ROAD,ST.JOHN’S ANTIGUA W.I. 1 (268) 462-1062 www.harneymotorsltd.com University of Antigua and Barbuda, with a new faculty of 9. “Harvest More, Import Less” National Food Production Plan aiming to achieve $50 million in import substitution by the end of the first term 10. National Pension Plan 11. Future Care Plan for Seniors 12. Housing Communities of the Future 13. Returning Barbuda to prosperity FREE REGISTRATION & PLATES
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Caribbean Times 99th Issue - Thursday 16th February 2017

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