Million Dollar Loan Is Forward Thinking

Details

Economy

Friday, 02 January 2009 06:36

By Warren Rose

 Minister of Finance Dr Errol Cort says the M$81 loan government secured from the Caribbean Development Bank (CDB) will act as a precautionary relief buffer to the 2009 budget, if in fact an economic crisis hits home. 

The Finance Minister says the concessionary loan will be repaid within 15-20 years. 

 “We don’t do mere lip service, when we talk about sound plans they come to fruition,” The economic minister said. 

He adds it’s indicative for the forward thinking of this government not to wait until the crisis arises to find solutions.  

That the finance minister said is the reason for pre-empting possible issues.  

The money will also go towards the local unemployment program, where the unemployed will be given a monthly stipend. 

To also ease the squeeze, if the need arise the government is willing to lower the percentage for income tax which a small percentage of the populace pays.

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