$350m lawsuit ahead

Antigua PM furious over outstanding debts of investors to the country

ST JOHN’S –– Prime Minister Gaston Browne says the government is likely to sue a “corporate entity” that has been “fleecing the country of . . . about $350 million dollars”.

Browne was speaking at the Economic Business Forum And Book Launch hosted by the Antigua and Barbuda Chamber of Commerce and Industry Ltd and IMF Western Hemisphere Department held at the Sandals Grande this morning.

Antigua and Barbuda’s Prime Minister Gaston Browne (left) and IMF Western Hemisphere Department deputy director Adrienne Cheasty (right).
Antigua and Barbuda’s Prime Minister Gaston Browne (left) and IMF Western Hemisphere Department deputy director Adrienne Cheasty (right).

Browne hinted that the corporate entity was a firm responsible for providing energy products to the country.

The prime minister also said an investor that had entered into a joint venture with the government at the Valley Church Beach with a ten-acre property would also be “taken to court” for failing to honour its agreement.

In a presentation described as frank by business leaders, Browne strongly took the International Monetary Fund (IMF) to task and revealed that talks were under way with the president of Venezuela, Nicolas Maduro, to quickly pay off the IMF.

The prime minister said he had told the IMF under no circumstances would his administration be entering a second programme and strongly suggested the most recent IMF programme had hurt the economy.

Browne’s presentation led to IMF deputy director of the Western Hemisphere Department, Adrienne Cheasty, abandoning her planned presentation but offering a response.

Cheasty defended the success of the recent IMF programme and invited Browne to take a future IMF programme. She also wished him the best of luck in his approach.

(Daily Observer)

One Response to $350m lawsuit ahead

  1. Winston Crichlow
    Winston Crichlow August 19, 2014 at 8:18 pm

    Watch out Antigua, the cross-hairs are lining you up.

    Reply

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