Melanius Alphonse ICIA, AIPFM:
Considering the country’s extremely high financial risk profile and overall social, political and economic mismanagement there are enormous concerns.
The executive (the ill-defined cabinet) branch of government, cannot borrow, and/or cause government to borrow, neither are they legally entitled to bind the state, without the proper authority of parliament.
Without such authority, any such transaction is highly risky for both the borrower and the lender, and if entered into is also deemed an illegal act.
The silence and paralysis in challenging unconstitutional policies and
practices should not become the norm. Neither should Saint Lucians concede their power in the constitution of Saint Lucia to the prime minister, minister of finance or the Cabinet of ministers.