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St. Lucia will not seek financial assistance from IMF
St. Lucia Prime Minister Dr. Kenny Anthony. PHOTO/File
St. Lucia Prime Minister Dr. Kenny Anthony has warned that his administration intends to take strong and brave decisions to deal with the economic problems confronting St. Lucia, adding that the island will not seek assistance from the International Monetary Fund (IMF).
Parliament last week approved a government motion allowing it to borrow EC$135.5 million (US$50 million) from a private sector concern to finance projects under the capital expenditure component of the 2012-2013 national budget.
Anthony said the move is aimed at ensuring that his administration removes any reliance of the IMF as has been the case with two countries Antigua & Barbuda and Grenada – which were now engaged in agreements with the Washington-based financial institution.
