分类: politics

  • Panton Questions PUC’s Role in Telecom Buyout Review

    Panton Questions PUC’s Role in Telecom Buyout Review

    In a developing political controversy centered on Belize’s telecommunications sector, United Democratic Party (UDP) Leader Tracy Panton has publicly raised serious doubts about whether the Public Utilities Commission (PUC) can deliver an unbiased, thorough review of BTL’s planned acquisition of rival telecom provider Speednet.

    The PUC holds the final regulatory authority to approve or block the proposed merger, but Panton’s comments signal deep opposition skepticism about the regulator’s ability to act independently of outside influence. When asked directly if her party trusts the PUC to oversee the process fairly, Panton drew a sharp, unflattering analogy to frame her position.

    “What they say when you put the lipstick on a pig, it is still a pig,” Panton told reporters during a recent question-and-answer session. “We are dressing this up to be something that we know it is not. We understand what this is and it is to enrich a select few without any regard, zero regard for the Belizean people.”

    When pressed on whether the UDP would organize formal protests against the PUC over the deal, Panton declined to reveal a full strategy in advance. She confirmed that the party has scheduled a joint collaborative meeting with local trade unions on August 6, where stakeholders will coordinate next steps specifically around the acquisition review.

    Panton also addressed questions about potential future action if the PUC votes to approve the merger, confirming that legal challenge is a top priority for the opposition. She acknowledged that pursuing legal recourse will be a lengthy process with no quick resolution, but emphasized that the UDP is bound by its mandate to defend the interests of ordinary Belizeans.

    “It is going to take time. That is the challenge. It is not an immediate fix. But we will pursue what we need to pursue in the interest of standing up for this country,” Panton said. “That is what we were elected to do. That is what we are committed to doing.”

    This report is adapted from a transcribed evening television broadcast, with all spoken content from participants preserved accurately through standardized spelling conventions.

  • Faber Disrupts Senate Agenda Over BTL Board Decision

    Faber Disrupts Senate Agenda Over BTL Board Decision

    On August 4, 2026, a controversial proposed acquisition of telecommunications provider Speednet by Belize Telemedia Limited (BTL) brought gridlock to Belize’s Senate, as opposition lawmakers staged a dramatic walkout to protest the government-backed deal.

    The conflict had already been building outside BTL’s corporate headquarters, where union organizers and supporters of the United Democratic Party (UDP) gathered to demonstrate their opposition to the acquisition. That anger quickly moved inside the walls of the National Assembly, when Lead Opposition Senator Patrick Faber interrupted the chamber’s scheduled agenda to voice strident opposition to the plan, triggering a procedural standoff.

    Faber argued that the government was pushing forward with a transaction that the Belizean public has already rejected, accusing the ruling administration of forcing the unpopular deal through despite widespread public pushback. “We cannot continue to sit here and behave like it is business as usual,” Faber told the chamber. “I am speaking for myself and thousands of Belizeans who don’t have a voice. You are ramming this down our throat and we can’t have that.”

    Faber’s disruption forced Senate President Carolyn Trench-Sandiford to intervene to restore order, ultimately resulting in a brief temporary suspension of the senate sitting. All independent senators joined UDP lawmakers in the walkout, with one exception: Church Senator Louis Wade, who remained in the chamber for the duration of the incident.

    This report is a transcript of an evening television newscast covering the unfolding political controversy, with Kriol language statements rendered using a standardized spelling system for publication.

  • Senator Faber Slams OSH Inspectorate as Underfunded and Unprepared

    Senator Faber Slams OSH Inspectorate as Underfunded and Unprepared

    Nearly a month after the long-awaited Occupational Safety and Health (OSH) Bill was tabled in the national senate, the legislation remains stalled in the upper legislative chamber, drawing sharp criticism from opposition leaders who say the government has failed to lay the groundwork for the law to succeed.

    United Democratic Party (UDP) Senator Patrick Faber delivered a scathing rebuke of the government’s approach to the new safety framework in remarks on the senate floor August 4, arguing that even before the bill receives a final vote, administrative and resourcing gaps already set the core enforcement body up for collapse.

    At the heart of the proposed legislation is a dedicated OSH Inspectorate tasked with enforcing the new workplace safety rules. But Faber says the body lacks two critical foundations to carry out its mandate: a trained workforce and sufficient, dedicated funding. He told the chamber that when he asked technical advisors how many inspector candidates were already undergoing training ahead of the bill’s passage, the answer confirmed his worst fears: training would not begin until after the bill becomes law.

    “If the law enters into effect and none of the people assigned to the inspectorate have been trained, how can this system possibly function as intended?” Faber said during his address.

    Beyond staffing shortfalls, Faber raised red flags about the funding structure laid out for the new inspectorate. According to the government’s own whitepaper outlining the reform, operational funds for the inspectorate will be pulled from the existing, stretched-thin annual budget of the relevant government ministry — a budget that Faber notes has already been cut to minimal levels to offset broader fiscal constraints.

    “That ministry openly admits it does not have enough money to cover its current obligations,” Faber said. “Pulling additional funds for a new inspectorate from that depleted budget is functionally nothing more than a meaningless gesture. This makes it clear the government is not actually serious about implementing this legislation effectively.”

    Faber also questioned the institutional independence of the proposed inspectorate, arguing that its structural design leaves the body open to outside political influence that could undermine its ability to enforce safety rules fairly and consistently.

    The criticism comes as the OSH Bill, a years-in-the-making reform aimed at updating outdated national workplace safety regulations, continues to languish without a timeline for a final vote in the senate. Faber’s remarks have added new momentum to opposition pushback against the legislation, with lawmakers calling on the government to outline a clear, resourced implementation plan before moving forward with a vote. This report is adapted from a transcript of an evening television news broadcast.

  • Oostelbos: Suriname moet in Brussel werk maken van visumvrij reizen

    Oostelbos: Suriname moet in Brussel werk maken van visumvrij reizen

    On August 4, during a formal farewell audience with Suriname’s President Jennifer Simons at the President’s Cabinet, departing Dutch Ambassador Walter Oostelbos left one key policy recommendation for the Surinamese government ahead of his return to the Netherlands on August 14: move forward with a formal request to the European Union to grant Suriname visa-free travel access to the bloc. The outgoing diplomat emphasized that the path to this policy goal does not run through The Hague, but rather through Brussels, noting that visa policy falls under EU-wide jurisdiction rather than national Dutch authority.

    Beyond his policy recommendation, Oostelbos reflected positively on his tenure and the evolution of bilateral ties between the two nations. He noted that since 2020, Suriname and the Netherlands have made significant strides in rebuilding and strengthening their relationship, which is increasingly rooted in equal footing and mutual respect. Framing the two nations as interconnected family, he acknowledged that bilateral ties have seen their share of highs and lows over the years, but stressed that the commitment to maintaining the partnership has remained the core of their engagement.

    Reflecting on his time in the South American country, Oostelbos shared that he had always felt welcome during his posting. He highlighted that Suriname’s greatest asset is not its natural gold or timber reserves, but its people, adding that the people of Suriname would be what he misses most after his departure. He also expressed his expectation that bilateral cooperation will continue to deepen in the coming years.

    Suriname’s Minister of Foreign Affairs, International Trade and Cooperation Melvin Bouva echoed the ambassador’s assessment of the current bilateral relationship, describing it as a dynamic partnership that increasingly centers on mutual interests and equal standing. To support ongoing cooperation, the Netherlands has committed 10 million euros in funding for development projects across Suriname over the next five years, with investments targeted at strengthening the rule of law, expanding government revenue capacity, improving infrastructure, advancing sustainable water management, and supporting broad social development.

    On the topic of visa policy, Minister Bouva confirmed that the issue remains a key priority in bilateral discussions. He noted that both sides share the goal of making travel for Surinamese citizens simpler, smoother, and more dignified. Oostelbos added that while the formal application for full visa-free access is an EU-level process that requires initiative from Suriname, the Netherlands will continue its own efforts to reduce wait times for Surinamese citizens applying for visas in the interim.

  • UDP Condemns BTL Board’s Approval of SMART Acquisition

    UDP Condemns BTL Board’s Approval of SMART Acquisition

    On August 4, 2026, Belize’s main opposition political force, the United Democratic Party (UDP), has publicly condemned the board of state-linked telecom provider Belize Telemedia Limited (BTL) for greenlighting an 80 million Belize dollar acquisition of competitor Speednet Communications Limited, better known by its brand name SMART.

    UDP leader Tracy Taegar-Panton, who made the announcement in a formal statement released Tuesday, says the party is deeply troubled by the board’s decision to push the transaction forward despite widespread demands from across Belize’s political and civil society spheres for full openness, rigorous third-party due diligence, and complete disclosure of every dimension of the deal—from its financial structure to its legal, regulatory and long-term governance impacts on the nation’s telecommunications sector.

    Taegar-Panton emphasized that the BTL board’s move outright disregards mounting concerns raised by multiple major national stakeholders, including the Belize Chamber of Commerce and Industry (BCCI), the National Trade Union Congress of Belize (NTUCB), the UDP itself, and ordinary members of the Belizean public who have questioned the merits of the consolidation.

    In her critique, the opposition leader argued that using public funds to acquire what is widely recognized as a strategic national telecommunications asset cannot reasonably proceed when the process is shrouded in ambiguity. Belizean citizens have a right to clear, verifiable answers to critical unanswered questions, she said: whether the 80 million dollar price tag delivers fair value for public money, whether all potential conflicts of interest among decision-makers have been fully identified and resolved, and whether the core interests of taxpayers, everyday telecommunications consumers, and contributors to Belize’s Social Security system have been adequately protected in the terms of the deal.

    Beyond its public condemnation, the UDP has announced concrete next steps to challenge the approval: the party will hold an urgent, closed-door meeting with the executive committee of the NTUCB to coordinate a unified response to the proposed acquisition. The party has also issued a formal call to Belize’s Public Utilities Commission (PUC), the independent regulatory body charged with reviewing sector consolidation, to uphold its mandate by conducting the most thorough level of due diligence and maintaining full public transparency throughout its review process for the merger.

  • Dominica gov’t defends CBI amid international pressure, but says economy must diversify

    Dominica gov’t defends CBI amid international pressure, but says economy must diversify

    Against a backdrop of growing international pressure on citizenship-by-investment (CBI) initiatives worldwide, the Government of Dominica has publicly defended the value of its own CBI programme while openly signaling that economic diversification will be the cornerstone of the island nation’s long-term growth strategy.

    Delivering the 2026/2027 Budget Address to parliament on Tuesday, Finance Minister Dr. Irving McIntyre laid out the transformative impact CBI revenues have had on Dominica’s development trajectory over recent years. He emphasized that proceeds from the programme have emerged as a foundational funding source for nearly every critical sector of the country’s public life, including affordable housing for local families, upgraded healthcare facilities, new primary and secondary schools, agricultural development initiatives, expanded road networks, small business support and climate-resilient infrastructure designed to withstand extreme weather events.

    The importance of CBI funding became particularly acute in the aftermath of Hurricane Maria, a catastrophic storm that left total damage and economic losses equivalent to 226 percent of Dominica’s annual gross domestic product. McIntyre explained that when the disaster struck, accumulated CBI funds filled an urgent gap: while the country waited for international external grants and aid to be coordinated and disbursed, CBI revenues allowed the government to immediately restore critical public services and rebuild damaged core infrastructure.

    Against this record of tangible progress, McIntyre argued that any fair assessment of Dominica’s recent development cannot ignore the programme’s outsized contributions. “There should be no apology for homes built for Dominican families, for health facilities, schools, roads and resilient communities,” he told lawmakers.

    At the same time, the Dominica government does not shy away from acknowledging shifting global attitudes toward investor citizenship programmes. In recent months, operators of these schemes have faced mounting international scrutiny, particularly after the European Union revised its visa-suspension framework, a change that has increased pressure on small island nations running CBI initiatives.

    Rather than responding to this new regulatory environment with confrontation, Dominica has committed to a path of collaborative engagement. “We do not dismiss that development or answer it with hostility. We will answer through constructive dialogue,” McIntyre said. The government has also reaffirmed its commitment to upholding the highest global standards for the programme, promising to maintain rigorous due diligence checks for all applicants, transparent and accountable administration, strong regulatory oversight, active information sharing and ongoing cooperation with international partners.

    Even as it defends the current value of CBI, the administration has made clear that the country cannot rely on the programme to carry its entire economic future. Long-term, the government’s core economic strategy will center on expanding and diversifying the nation’s revenue streams. “No single programme will carry the full weight of our future,” the budget document states. Going forward, assets that have been developed with CBI funding will increasingly be focused on generating sustainable local jobs, expanding exports, cutting national energy costs and creating new streams of ongoing public and private income beyond the initial CBI investment proceeds.

  • “The Answer Has to Be No”: NTUCB Stands Firm on BTL Acquisition of SMART

    “The Answer Has to Be No”: NTUCB Stands Firm on BTL Acquisition of SMART

    On August 4, 2026, a major public and labor conflict erupted in Belize City over a planned corporate acquisition, as the National Trade Union Congress of Belize (NTUCB) maintained its unwavering opposition to Belize Telemedia Limited (BTL)’s proposed takeover of SpeedNet Communications, which operates under the brand name SMART.

    Opponents of the deal gathered in protest directly outside BTL’s headquarters on St. Thomas Street, raising urgent red flags about four core issues: a lack of procedural transparency, questionable company valuation, risks to market competition, and the absence of meaningful broad public consultation before the BTL board of directors met to deliberate the acquisition. News of the scheduled board meeting quickly mobilized organized labor groups, with NTUCB and its president Ella Waight leading the opposition charge.

    In an on-the-ground statement during the protest, Waight confirmed that union leaders only learned the board meeting would move forward on the morning of August 4, after weeks of uncertainty about the timing of the vote. She emphasized that NTUCB’s opposition to the acquisition has not shifted since the beginning of 2026, when a majority of the congress’ 11 affiliated unions voted to reject the takeover. That opposition, she stressed, will remain unchanged no matter what decision the BTL board reaches.

    While the official result of the board’s closed-door deliberations had not been released to the public as of the protest, Waight made clear the NTUCB’s non-negotiable position: “The overall finalised decision has to be no.”

    Waight argued that key concerns and recommendations raised by labor and other public stakeholders were completely ignored in the lead-up to the board vote. One of the union’s central demands has been a full, multi-year independent audit of SMART’s assets and operations, rather than the limited single-year audit that has been completed to date. Waight questioned the validity of the narrow assessment, noting, “who can assess a company for one year?” As of the protest, that full independent audit had not been carried out.

    BTL attempted to address criticism of lack of outreach in a formal letter dated July 31, confirming that stakeholder consultations had been completed and that the acquisition proposal would now be forwarded to Belize’s Public Utilities Commission (PUC) for final regulatory review. But Waight pushed back hard against that claim, arguing that any consultation that did occur was limited to a small, insider circle of connected interests rather than including all affected parties. “There were only cliques of little consultations that happened,” she said.

    Waight dismissed BTL’s response to union concerns as empty and unresponsive, saying “It was irrelevant of the concerns we had. No substance to that answer.” She also revealed that the NTUCB submitted two formal letters to the PUC prior to the BTL board vote, requesting clarity on the regulatory process for the acquisition and details about the commission’s review timeline. As of the protest, the union had not received any reply to either correspondence, a snub that has eroded all trust in the regulatory process among union leaders. “So at this point, we have no trust in them,” Waight said.

  • Special education and literacy MOUs boost cooperation

    Special education and literacy MOUs boost cooperation

    Diplomatic cooperation between Cuba and Grenada has reached a new milestone this week, as senior representatives from both nations gathered at the Cuban Embassy in Grenada to sign two landmark memorandums of understanding focused on expanding bilateral collaboration in the education sector. The new agreements formalize joint work in two critical priority areas: specialized support for learners with disabilities through special education programming, and the rollout of Cuba’s internationally recognized “Yo sí puedo” (“Yes I can”) adult literacy initiative.

    Signing the documents on behalf of the Cuban government was Ambassador Yadirys Echenique Paz, who used the signing ceremony to frame the new partnerships as a continuation of Cuba’s long-standing tradition of international solidarity. The ambassador emphasized that these education-focused initiatives are rooted in the Caribbean nation’s core commitment to advancing equitable human development across Grenada, reflecting shared values of regional cooperation and mutual support.

    Leading the Grenadian government delegation were Lorraine St Louis Nedd and Elvis Morain, both Permanent Secretaries at Grenada’s Ministry of Education. In their remarks at the event, the two officials underscored the transformative impact the new agreements will have for Grenada’s population, noting that the partnerships are tailored to address unmet local needs and expand access to inclusive learning opportunities for all residents. They went further to highlight that bilateral education cooperation with Cuba has long served as a foundational pillar of Grenada’s national strategy to build a skilled, competitive domestic workforce.

    During the celebratory signing event, both sides reaffirmed that the new MOUs open exciting new avenues for expanded joint collaboration beyond the core initiative areas. Key future opportunities identified include joint teacher training programs and the wider adoption of evidence-based education methodologies that have been successfully implemented across Cuba and other Latin American and Caribbean nations.

    The signing ceremony held particular symbolic weight, as it takes place in the year that marks the 47th anniversary of the formal establishment of diplomatic relations between Cuba and Grenada. The occasion also provided an opportunity for both parties to reflect on decades of ongoing partnership in education and professional training. For generations, Cuban education support has accompanied young Grenadians through their academic journeys, leaving a lasting mark on the country’s education landscape and human development outcomes.

    This report is based on a contributed submission from the Embassy of the Republic of Cuba in Grenada. NOW Grenada does not take responsibility for contributor opinions, statements, or third-party content included in contributed submissions.

  • Opposition protesters storm Watooka House where VP Jagdeo is holding outreach

    Opposition protesters storm Watooka House where VP Jagdeo is holding outreach

    On Tuesday, 4 August 2026, hundreds of opposition-aligned protesters led by two major Guyanese opposition parties breached police barriers and advanced into the Watooka House compound in Linden, the capital of Guyana’s Region 10. The demonstration was organized to confront Vice President Bharrat Jagdeo, who was leading a government ministerial outreach event at the location, and to voice public fury over the incumbent administration’s handling of the deadly MV Barima ferry disaster last month.

    The protest was backed by Azruddin Mohamed, leader of the 16-seat main opposition party We Invest in Nationhood (WIN) and Guyana’s official Opposition Leader, as well as Aubrey Norton, head of the 12-seat A Partnership for National Unity (APNU). Eyewitness accounts confirm Mohamed was at the front of the crowd when a segment of protesters pushed through a reinforced police barrier, pushing the demonstration all the way to the main entrance stairs of Watooka House.

    Speaking from the protest line, WIN General Secretary Odessa Primus accused the government of delaying and misleading demonstrators. Primus stated that police had promised the Vice President would come down to speak with the crowd, but he never appeared. She said, “We would agree to stand peacefully if he engaged us, but he is hiding inside. Why are you lying to the Guyanese people?”

    The mass action, the largest opposition-led demonstration in Guyana in recent years, was directly triggered by the MV Barima ferry tragedy that killed more than 100 people, with 76 others rescued from the incident. While the outreach event was ongoing inside Watooka House, the government’s Department of Public Information posted photos to its Facebook page as late as 1:01 PM showing Jagdeo and cabinet members meeting with local residents, though the timing of the photos before publication remains unclear. On his own official Facebook page, Jagdeo posted a video of former APNU+AFC housing minister Valerie Patterson-Yearwood praising infrastructure development across Linden since the People’s Progressive Party/Civic (PPP/C) won national office in 2020.

    Protesters maintained sustained chants throughout the demonstration, including calls of “No retreat, no surrender” and demands for the resignation of Juan Edghill and Deodat Indar, the two cabinet ministers with oversight of Guyana’s maritime sector. They also repeatedly called for the urgent recovery of the sunken MV Barima, saying that the government’s extended procurement process to hire an experienced salvage firm that can preserve forensic evidence for the official Commission of Inquiry (COI) is an unnecessary delay that could destroy critical evidence. Protesters chanted “Bring up the evidence” to emphasize their demand for immediate action.

    Beyond the ferry tragedy, demonstrators also pushed for resolution of a months-long leadership vacuum in Region 10. WIN parliamentarian Tabitha Sarabo-Halley led calls for the Regional Executive Officer to immediately schedule a vote to fill the empty Regional Chairman position. The region has been without a permanent Chairman since the September 1 2025 general and regional elections, after the election resulted in a tied vote for the post. Mohamed, who has styled himself as a voice for Region 10’s overwhelmingly pro-WIN electorate, argued that the incumbent government is intentionally blocking the appointment to maintain control over the region. He warned that if the administration refuses to reconvene the regional council and instruct the Regional Executive Officer to hold a vote, opposition groups will organize large-scale protests at every future government outreach event across the country.

    Mohamed, a relatively new political figure who was once an ally of Jagdeo’s governing PPP/C, cut ties publicly with the ruling party shortly after he and his father Nazar “Shell” Mohamed were sanctioned by the U.S. Treasury Department’s Office of Foreign Assets Control in June 2024. The sanctions were imposed over allegations the pair smuggled more than 10,000 kilograms of gold and evaded more than $50 million USD in taxes owed to the Guyanese government.

    PNCR-APNU parliamentarian and former Linden Mayor Sharma Solomon told reporters on the protest line that the five-member COI appointed by the government to investigate the MV Barima tragedy is inherently biased toward the PPP/C administration. He noted that the government has a long pattern of unilaterally appointing commission members and setting the inquiry’s terms of reference, arguing that “this commission of inquiry is discredited from its very start. Families will never get the justice they are seeking as long as this government continues to railroad the public inquiry process.” Solomon also defended three public servants who have already been charged with murder in connection with the 72 passenger and crew deaths, saying that political leaders should be held accountable rather than low-level public officials. He called for Edghill and Indar to step down immediately to allow a truly impartial investigation.

    APNU leader Aubrey Norton, who is a native of Linden, echoed these criticisms, saying Tuesday’s mass protest was inevitable because the government has repeatedly refused to address public concerns over the tragedy. “The government bears full responsibility for this situation,” Norton stated, stressing that the administration has a fundamental obligation to be accountable to all Guyanese people. He joined calls for immediate salvage of the MV Barima, arguing that the government’s reliance on a formal competitive procurement process is nothing more than a deliberate delay tactic. Noting that the PPP/C administration frequently uses no-bid single-source contracting for other projects, Norton said the public would fully support using the same approach here to raise the vessel as quickly as possible. “This work has to get done, and it has to get done urgently,” he emphasized.

    This report was compiled from monitoring published content from Royston Drakes Productions’ Facebook page, with original photos sourced from the same outlet.

  • PM pitches new growth model to tame runaway debt

    PM pitches new growth model to tame runaway debt

    Prime Minister Godwin Friday of St. Vincent and the Grenadines has outlined a sweeping three-pillar strategy to rescue the small Caribbean nation from what he describes as a perilous fiscal cliff, with the dual goals of stabilizing its debt-burdened public finances and laying a solid foundation for future private-sector-led economic expansion. In a candid interview aired on NBC Radio this Tuesday, Friday painted a grim portrait of the country’s current fiscal state, placing blame squarely on the previous Unity Labour Party (ULP) administration, which held power from 2001 until November 2024, for accumulating an unsustainable level of national debt that left the country uniquely vulnerable to cascading global shocks. These shocks include war-driven spikes in global fuel prices and the widespread economic damage inflicted by Hurricane Beryl.

    Friday, whose New Democratic Party took office in November, revealed that after assuming power his administration discovered the fiscal situation was far worse than previously understood. He recalled that multilateral institutions including the International Monetary Fund had issued warnings as early as 2016 that St. Vincent and the Grenadines was rapidly approaching a state of formal debt distress. Currently, the country’s public debt sits at 113% of gross domestic product, and without urgent intervention, official projections show that figure will balloon to 124% of GDP within just a few years. Even at current levels, debt servicing consumes 39 cents of every dollar of revenue the government collects, leaving extremely limited room for investment in public services, infrastructure, and social programs.

    “You can’t have development, you can’t have rising standards, you can’t sustain a quality of life if you’re doing it on a credit card. Eventually, the bill comes due,” Friday warned. “We are now in that situation where they’re saying, ‘Well, listen, you can’t afford this, you can’t afford that.’”

    Compounding the crisis, recent actions by global credit rating agency Moody’s have further restricted the country’s fiscal options. Moody’s downgraded St. Vincent and the Grenadines’ sovereign credit rating from B3 to Caa1, a shift that Friday says acts as both a symptom of the existing fiscal instability and a driver of deeper problems. The downgrade has made new external borrowing significantly more expensive and harder to access at a time when the country desperately needs fiscal breathing room to implement recovery measures.

    Against this challenging backdrop, Friday emphasized that his administration is not focusing solely on criticizing the previous government’s mismanagement, but is taking concrete action to resolve the crisis through a three-pillar strategy that targets immediate stabilization, debt restructuring, and long-term growth.

    The first core pillar of the plan is restoring fiscal discipline to “stabilise the ship” after years of politically motivated overspending. Friday accused the outgoing ULP administration of ramping up unsustainable borrowing over its final five to six years in office, using borrowed funds to finance populist projects and programs designed to retain power rather than building a durable, productive economic base. To reverse this trend, Friday’s government is implementing strict new fiscal rules that will bind all current and future administrations, ensuring that any government borrowing is directed toward capital projects that expand the nation’s productive capacity, rather than covering recurring operating expenses like public sector salaries and utility bills.

    Comparing the nation’s fiscal predicament to an overextended household that has to dip into its children’s education and medical savings to pay off a maxed-out credit card, Friday noted, “At some point, you’re not going to be able to afford the payments, and they could come and reclaim [what you bought]. In terms of government financing, it’s not much different.” He added that borrowing to cover routine day-to-day spending is equivalent to “digging a hole to fill a hole,” a practice his government will end immediately.

    The second pillar of the strategy is a comprehensive debt restructuring and refinancing initiative that centers on swapping existing high-cost loans for lower-interest, concessional financing from multilateral development institutions. Friday pointed out that several peer Caribbean nations have already completed similar debt swap operations, many of which are tied to climate action and sustainable development goals, and his government is studying those successful case studies to adapt the model for St. Vincent and the Grenadines.

    As a first step in this process, the government has formally joined the Central American Development Bank (CAF) and is already in active negotiations with other multilateral institutions that are prepared to offer low-cost concessional funding for national development programs. The long-term goal of this effort is to shift the country’s borrowing profile away from expensive local and bilateral loans toward longer-term, low-interest financing from development banks. Friday explained that a successful refinancing campaign, paired with stronger economic growth, will gradually bring down the debt-to-GDP ratio and free up critical public resources for social spending and development investments.

    “As the GDP grows, even if the nominal debt is increasing slower, the debt-to-GDP ratio will decline,” Friday said, adding that the sweeping fiscal reforms are designed to send a clear signal to global creditors and investors that St. Vincent and the Grenadines is committed to long-term fiscal sustainability.

    While fiscal stabilization and debt refinancing will create the necessary breathing room for recovery, Friday stressed that only accelerated, private-sector-led economic growth can deliver a permanent solution to the nation’s debt crisis. “You’re not going to grow out of the debt situation, you’re not going to solve the problem simply by being more efficient and being more fiscally responsible,” he noted. With the government’s borrowing capacity severely constrained, the state can no longer serve as the primary driver of large-scale infrastructure and development projects, making private investment — both domestic and foreign — the centerpiece of the government’s long-term growth strategy.

    “Our standard of living will not improve unless we generate more business activity in the country. Government depends on [business]. Either you do that, or you’re just borrowing money… and running up the debt without any means of really paying it back,” Friday said.

    The prime minister laid out that his administration’s core role in this new growth model is to build an attractive, competitive business environment by upholding the rule of law, cutting unnecessary red tape, and ensuring all investor concessions and incentives are transparent and directly tied to measurable development benefits for the nation. He pushed back against criticism that offering tax breaks and duty concessions to large foreign investors amounts to “selling out the country,” noting that such incentives are standard global practice and are already extended to local investors.

    “Even local investors here, they come, they’re investing in a hotel, they get concessions … Because you want them to generate economic activity, and so government will get its piece later on when we tax your earnings, your profits, and the jobs that you create,” he explained.

    Friday also pledged to act as a “ruthless negotiator” on behalf of all St. Vincent and the Grenadines people, noting “I have one client… and that is the people of this country. So whenever there is a deal, we are going to make sure that it’s the best that we can possibly do under the circumstances.” As the country builds up a larger pipeline of approved investment projects across key sectors including tourism, infrastructure, and fisheries, Friday said the government will gain greater leverage to secure more favorable terms from prospective investors. He also issued an open invitation to Vincentians living in the diaspora to position themselves as “preferred investors,” urging them to bring their capital, skills, and expertise back home to contribute to national growth.

    In closing, Friday acknowledged that the process of fiscal consolidation and economic transition will require “some measure of adjustments for everybody” across the country. However, he made a clear commitment that the burden of adjustment will not fall on the nation’s most vulnerable populations, who did not create the current fiscal crisis. “I will not impose that burden on the most vulnerable people in our society, because first of all, they didn’t cause it,” he said. “To ask them to pay… I cannot do it in all good conscience.”