In 2000 under labor, the total Public Sector Debt outstanding for Antigua and Barbuda was 2.17 Billion EC and represented 121% of GDP. Which is an unsustainable position that affected the labor administrations ability to deliver goods and services to the people of our Nation. In 2001, the labor administration drafted a home grown stabilization programme in consultation with the ECCB, but after gaining initial Cabinet approval the programme was later abandoned. This caused all credibility for possible negotiations with external creditors to die as well as interest on outstanding monies to accumulate. In 2003, the labor administration after agreeing to lower the Debt to GDP to 60%, they continued to engage in forced borrowing from suppliers and accumulated additional expenditure monies. The labor administration had no regard for the people of out Nation. UPP NOW MORE THAN EVER, with Our Country, Our Future, In Our Hands, Moving on the Right Track, certainly Moving in the Right Direction.
Posted on: Wed, 04 Dec 2013 19:43:47 +0000
Trending Topics
Recently Viewed Topics
© 2015