Nevis Premier Extends Overdraft To Pay Debts

Nevis, West Indies Premier - Joseph Parry

Nevis Island Extends Overdraft To $15 Million

Charlestown, Nevis
January 27, 2009

In the house of Assembly on Monday, Premier and Minister of Finance, the Hon. Joseph Parry pledged his governments continued commitment for transparency and fiscal prudence.

“When the Nevis Reformation Party led Nevis Island Administration (NIA) came into government we were met with numerous bills that had to be paid by this administration!”

According to Premier Parry, it is in keeping with this Nevis Reformation Party (NRP) led government’s commitment to good governance and in keeping with our recognition of the importance of accountability to the people of Nevis that the Nevis Island Cabinet is following the prescribed procedure and asking for the blessing of the Assembly to extend the overdraft to $15 Million.

A previous meeting of Parliament in 2008 revealed the vast extent to which the CCM administration used Appropriation Warrants without the blessing of the Assembly, to fund unbudgeted expenditure including the purchase of the Mall at Marion Heights.

Monday’s meeting of Parliament revealed that bills were still outstanding for the atrocious road from Cotton Ground to New Castle that had cost overruns of approximately $10 million dollars and the asphalt plant that suffers major down time and needs numerous repairs and other enormous debts inherited by the present NRP led NIA.

Following Parliament, Premier Parry spoke to the Media where he declared his position on economic accountability. “Transparency and good governance have been demonstrated by my government. In the spirit of openness we have laid on the table the fiscal landscape and strategies from the National Consultation held on October 7th, 2008. This reflects my governments will of transforming the economic landscape of this island beyond the financial mediocrity that we inherited in 2006.”

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