Just part of the continuous effort to keep a bloated public service employed. More and more ways to get the money for silly projects while never adressing the real problems so we can have longer term success. Doesn't matter which political party, they're both the same ... dumb and dumber and its hard to tell which is which.

One question..."WHE N DO WE START PAYING BACK FOR THE IMF LOANS"? After the UPP leaves office?

Here is something to consider: It is very possible that like most military operations there are two versions of documents; classified and unclassified. The classified version in the case of the gov't of ANU is unknown/unseen by the general public and shown to the IMF to seal the deal as the IMF could care less what the citizens are told. Further, the unclassified version (as is the case in many jurisdictions) must be doctored before it can be presented to the public for scrutiny and this can take some time. Just something to consider.

Notes From A Native Son Of The Rock. fnpsr, thanks for your kind words of appreciation. Your conclusion of an Enabler is spot on. This is Geopolitics at its ultimate for which the elected neither had the motivations, inclinations or neglected education. This has been a "Credit Card" scam most would readily recognize were it to come from someone from the most populous Nation in the Motherland. In the North Atlantic, Credit Card companies are offering 0% rates for up to a year to switch your high interest loans with a 1% fee. Then after that the High Rates of 19 to 21% kick in. In the Geopolitical sphere the IMF and the PRoC are the CC Bankers. Borrow an addiional $200K from the IMF with 3yrs concession. Borrow from the PRoC with 5 yrs concession. Given that the IMF loan is additional you are no further ahead. What is sadly lacking amongst the "arrivistes' is that a Capital loan for facilities of $50.0M is in essence a cost of some $175.0M not including interest payments over the USEFUL life of the Capital facility. Where are the Portfolio & Financial Managers? Go Well! Much Respect.

"Let’s fix the little things before we attempt to fix the big things.”

John French, thank you for your well articulated post. I do not understand how the IMF can say that GOAB is making financial progress, when the GOAB is currently in default of the IMF’s own agreement. I believe that the IMF should have addressed where things stand as to this default. Secondly, the IMF should address the requirement for the GOAB to have a balanced budget by 2012. Thirdly, The IMF should address the prolific borrowing by the GOAB in violation of the its agreement. Fourthly, the IMF should address the lack of financial statements and the lack of budget reconciliation for the years the GOAB wants to “leap frog”. Fifthly, I believe, for the IMF to have any credibility, it should publish the reports that it is basing this interim report on. It is not sufficient to accept the utterances of the officials, when they cannot even tell the good people of Antigua, whether the generators for the power plant are new or used. Unless, the IMF addresses these issues, in my humble opinion, it may be an unwitting enabler.

“Let’s fix the little things before we attempt to fix the big things.”

I really think with all thats happening in Antigua,with the unanswered questions about millions of wasted $$$ of our tax moneys,the latest saga of the generators,whil e we continue to pay outrageoulsy to APUA ,that the IMF should close all negotiations with the Govt until they can give us some answers,it is disrespectful that they should be lending these people money that we will have to repay, while they continue to disregard our concerns for accountability, it is as if they are condoning them in not giving account to us,they should not be allowed to borrow one more penney under the name of ANU/BAR until we know what they have done with all our moneys,this is pure nonsense.

Notes From A Native Son Of The Rock. Here is more from the IMF: Quote:

When the nominal exchange rate is fixed or the scope for monetary stimulus is limited, the current account adjusts by as much, but the adjustment is more painful: economic activity contracts more and the real exchange rate depreciates through domestic wage and price compression. When economies tighten fiscal policies simultaneously, what matters for the current account is how much an economy consolidates relative to others.

Where have you heard such language before? From the Good Hon Min. of Finance and his Taxman Guru EC? Have You heard this from the Hon Min of Tourism? Have you heard this from the Good Hon. Dr. PM and his GoAB? Have you heard this from Sir Dwight? You bet! Do you pay attention to the "Red Rabble Rouser Senator? Where have you been when many of these "Voices in the Wilderness" suggest that you "leave this europe behind" and reorient your thinking away from FDI to IDI. If that is how the IMF sees the North Atlantic remedying its situation, will it be any different for the OECS? Heaven Help the Nation Of Antigua & Barbuda including Redonda.

Notes From A Native Son Of the Rock. The vendor at the market says "Pay Attention!" Account Balances. Negative. Do You Understand how important Sir Dwight has now become in the eyes of the IMF. Did you follow JA's experience? Do you see clearly the path of monetary direction? JA$! T&T$! Guyana$! Have Mercy Pon US! "Pickey Head Bawling Murda" will be politely stated as "weeping and gnashing of teeth by the edge-up Arrivistes". Pray for the Competencies & Skills of Sir Dwight being fully realized.
Here is the Kicker! Separated At Birth? The Twin Budget & Trade Balances. Quote:

How do changes in taxes and government spending affect an economy’s external balance? Based on a historical analysis of documented fiscal policy changes and on model simulations, this chapter finds that the current account responds substantially to fiscal policy—a fiscal consolidation of 1 percent of GDP typically improves an economy’s current account balance by over a half percent of GDP. This comes about not only through lower imports due to a decline in domestic demand but also from a rise in exports due to a weakening currency.

I beg your Forebearance once more. There is more.

Notes From A Native Son Of The Rock. Now these rascals lumped the Caribbean with Latin America and here is what they said. Quote:

Much of the region has thus far benefited from strong terms of trade and easy external financing conditions.
In many economies, activity is above potential, credit growth is high, inflation is trending near or above the upper target range, and current account deficits are widening despite supportive commodity prices. The outlook is still strong, although downside risks have come to the fore and commodity prices will provide less momentum in the future. Further macroeconomic tightening is still essential to rebuild room for policy maneuvering and to contain demand pressures. But in most economies, monetary tightening can pause until uncertainty abates.

The emphases are JF's to align with A&B. Drill down further and you find this: Eastern Caribbean Currency Union with actual and projected figures for 2010, 2011 & 2012: GDP:–1.1 1.1 2.0 Consumer Prices: 2.5 3.5 3.0 Current Account Balances: –21.4 –23.3 –21.0
Everyone knows A&B's GDP will be negative and the CPI is already above 4.0. Have Mercy.

Notes From A Native Son Of The Rock. The Last time the IMF Mission - Quote:

a name is not merely an arbitrary designation, a random combination of sounds. The name conveys the nature and essence of the thing named. It represents the history and reputation of the being named. ... Because a name represents the reputation of the thing named, a name should be treated with the same respect as the thing's reputation.

- examined A&B's performance, they administered a severe spanking or caning to the GoAB and the People of A&B. This time in an effort to portray a more Kinder and Gentler image, they involved the major players and stakeholders. Revisit the Strategic Imperative for A&B. Fiscal Adjustment & Structural Reform . Do you now get how beautifully this News Portal showed the way with its master stroke of a picture? A&B can only respond to fiscal Matters. Sir Dwight has Monetary. Every bit of funding is toward Structural Reform from EU (governance education) to Sir Dwight (Monetary, Financial, Banking, Insurance). A&B produces very little, hence the Rationale to look at Tourism - the Money Maker and Fiscal Engine. The NA Privateers must be paid.

Notes From A Native Son Of The Rock. Those who are familiar with this "mere voice in the wilderness" are cognizant of the positions profered on the path the Blue GoAB and its deliverance of the Nation into the IMF's NEST. So rather than JF's thoughts, let us go direct to the source. In its World Economic Outlook (WEO) Slowing Growth, Rising Risks September 2011 should offer some insights as to where the IMF's Vision, Mission and funding will go. Here is what has been researched, analysed and being operationalized . Quote:

The prospects for the global economy is now in a dangerous phase. activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing. Against a backdrop of unresolved structural fragilities, a barrage of shocks, hit the international economy this year...unrest in some oil-producing countries, and the major financial turbulence in the euro area. Two of the forces now shaping the global economy are high and rising commodity prices and the need for many economies to address large budget deficits.

Nothing being said is not being experienced by every Woman, Man & Child in A&B.

Notes From A Native Son Of The Rock. What a beautiful & most apropos picture. Caribarena, warmest Antiguan Greetings & Congratulations . Youv'e got it 100% Right. Picture is worth 1000 Words. Indulge me:
Quote:

Rise up this mornin', Smiled with the risin' sun, Three little birds Pitch by my doorstep Singin' sweet songs Of melodies pure and true, Sayin', ("This is my message to you-ou-ou:") Singin': "Don't worry 'bout a thing, 'Cause every little thing gonna be all right."

No predictions will be offered this time that A&B will be given its Tranche. The last time the suggestion was advanced, JF was not aware that there was "a xxxxxx in the woodpile" or to be more polite "a fly in the ointment" with the rescue funds to Sir Dwight's second Antiguan Bank (ABIB). Being the Fly on the Wall at the meeting of the IMF Mission "and representatives of the local business community." would be worth value of all failed FDI's. Friends, CountryWomen/Me n, Ouadadlians, Rastas, "Pickey Head People" who are "Bawlin Murda", are you still confused "ah who run tings?". JF reminds that Literacy and Numeracy are twins and that they are not mutually exclusive.

AND THESE ARE TERMS THAT THE UPP USED TO NEGOTIATE WITH THE IMF: OVERTAX THE PEOPLE TO DEATTH AND UNDER DELIVER JOBS; KILL LOCAL BUSINESS WITH COLLECTIONS OF REVENUES TO GO INTO ENRICH POWERFUL RICH WHITE MEN AND THEIR INVESTORS; AND GET A HAND SHAKE FROM THE IMF FOR PLUNGING THE COUNTRY INTO FINANCIAL RUIN. LONG RULE THE UPP...

Yes Lovell..continu e to TAX Antiguans into submission to appease the fols at IMF then come to the airwaves to stress that you did wonderfully to obtain great praised from the World Bank/IMF for demonstrating Fiscal Prudence...in the mean time government workers are NOT being pain ontime...

Yes Maginley...cont inue to parade on the NY airwaves so that the IMF can see you spending our monies in their homeland boosting up their 'telecommunicat ions coffers'...whil e there is a woeful outlook for the tourist industry in the comming months...appare ntly, your appearance will make all the Americans come to Antigua.

Yes Dwight...Just let the IMF know, you will be buying up All or our indigenous banks in Antigua...

Ok it's time to invest in the people and not in the politition's ego and
Pride. Come Mr Prime minister and opposition put your crab in a barrel
Mentality a side and work together for the people both of you love
dearly.