St. Kitts and Nevis (WINN): Deputy Premier Mark Brantley is alleging that the St. Kitts Nevis Anguilla National bank refused to honor 1800 civil servants salary checks unless the NIA signed over land to the bank in the land for debt swap. The Nevis Island Administration had to grapple with the crisis of being unable to pay its workers Wednesday as the National Bank refused to honor salary checks. Officials from the bank have not yet spoke on the issue and efforts by WINN to contact them have so far been unsuccessful. It is expected that NIA officials and the bank will resume meeting on the issue Tuesday after an initial meeting on Friday. As part of its debt restructuring exercise of the federal government, land held by the Bank as collateral have been earmarked for sale to repay the government’s debt to the bank. But the Federal Opposition of which Mr. Brantley is the leader, has been against the move arguing that it land is the patrimony of the people and that locals will be unable to afford purchasing these lands which eventually would be bought by foreign interests. Mr. Amory said the NIA subsequently signed a memorandum to transfer that land to the bank.
Posted on: Sun, 27 Apr 2014 00:32:37 +0000