St. Kitts – Nevis PM Reports Settlement Of National Bank Overdraft

St. Kitts - Nevis' PM - Dr. Denzil Douglas

St. Kitts – Nevis’ PM – Dr. Denzil Douglas
Photo By Erasmus Williams

Basseterre, St. Kitts – Nevis
May 27, 2011 (CUOPM)

The Federation’s Minister of Finance, Prime Minister the Hon. Dr. Denzil L. Douglas has reported to the Cabinet on the progress of the government’s debt restructuring programme.

Minister of Information, Sen. the Hon. Nigel Carty said the Minister of Finance highlighted the critically important achievement of the government’s fiscal policy, including the recent settlement of the overdraft at the St. Kitts-Nevis-Anguilla National Bank.

“The Prime Minister added, however, that there was still significant work to be done, particularly because of the global economic downturn. He updated the Cabinet on the work carried out by our debt advisers,” said Mr. Carty.

He said that the Cabinet being satisfied that the recommendations were in the country’s best long-term interest, accepted the Report and the Recommendations.

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