Gov’t makes credit request to Venezuelan bank

Skerrit said a request for a new line of credit has been made to Bandes
Skerrit said a request for a new line of credit has been made to Bandes

If all goes as planned, investors on the island will soon receive loans at reduced interest rates from the Agricultural Investment and Development (AID) Bank, thanks to a Venezuelan financial institution.

Prime Minister and Minister for Finance, Roosevelt Skerrit, said the government has made a request for a new line of credit from the Banco de Desarrollo Economico y Social Venezuela (Bandes).

“I want to say that we have made a request to the Bandes Bank for a new line of credit of between US$ 10-16 million…” he said at the 22nd Annual General Meeting of the AID Bank on Wednesday at the Krazy Kokonuts. “I am satisfied that we will be able to get a loan of at least $10 million additionally from the Bandes to un-lend to the private sector at a maximum of six percent interest, which is good news for many investors in the country.”

Skerrit thanked “dear friends” from the Venezuelan Embassy and asked them to convey to the President of the Bandes Bank “our greatest appreciation for his willingness to lend us additional sums of money.”

The Prime Minister mentioned that over the years the AID Bank has been able to provide a “better mix of resources, at better interest rates from a high of 11 and 12 percent, to a low of six per cent over the years and could only be achieved through the government’s going out there to negotiate financing for the Bank at lower interest rates.”

He also gave his commitment as the Minister for Finance that government will continue to seek other avenues of funding, noting that there are other friendly governments that dialogues are being held with for assistance.

He stated that cheaper financing leads to greater economic activity.

“The cheaper the financing, the more investment we can see and thereby greater economic activity and job creation in our economy and that is the commitment of the government,” he stated.

Meanwhile Skerrit has described as “satisfactory” AID bank’s net profit of $1.12-million for 2014, which grew by 9.85 percent compared to restated net profit of $1.03 million in the previous financial year, according to a statement from the bank.

“This is clear evidence that government’s sourcing of soft loans from the Bandes Bank of Venezuela and the European Investment Bank for lending through the AID Bank has contributed to your notable performance,” he stated.

Just last week, President of Venezuela, Nicholas Maduro, admitted that the country’s economy is in crisis with a 2.8 percent drop in 2014 and inflation at 64 percent.

He assured Venezuelans that despite a huge drop in the price of oil globally, which the country heavily depends on, “God will provide.”

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86 Comments

  1. Rebecca Theodore
    January 30, 2015

    This is the bank that the Prime minister of Dominica is borrowing the money from…Federal agents have you covered…

    http://www.bloomberg.com/news/articles/2013-05-07/venezuelan-offical-u-s-broker-dealers-charged-in-bribe-scheme

  2. Abraham
    January 30, 2015

    This increase in Agricultural production increases jobs and contributes more taxes to the economy and with exports of theses products increased foreign exchange which helps improve our foreign currency supply thus encouraging a cheaper avenue in which to conduct foreign exchange transactions.

    However, if the initial loan was used to facilitate and support social programs, corrupt, non transparent underhanded deals in which there must be kickbacks for the persons directly involved in the administration of theses monies then we will and always continue to find ourselves in a situation in which the money is spent and must be repaid but with nu result to show for how the money was spent.

    A simpler example would be a person who takes a loan to build a house but instead of building the house uses that money to party and sewo. At the end of the exercise that borrower has no house but is stuck with the loan which he/she must repay.

    Mr. PM, put that money to work at an affordable…

  3. Abraham
    January 30, 2015

    You take from the needy to give to the greedy, nyabingi will be jamming tonight.
    I tried and I tried and I tried to make them understand, but they just cant understand.
    The more victimization is upon their backs they still satisfy for less.

    Loans can and do aid/facilitate development but only if those loan funds are utilized in a way that result in other economic activities.

    Very common example.

    An investor takes out a loan to start a bakery, he/she employs 6 persons and pays them a salary from which taxes are deducted. Those taxes are then available to facilitate road repairs and assistance to farmers who in turn improve/increase their production.

  4. Duncekyat
    January 29, 2015

    Eh beh look mechastay. Skerrit loking to borrow crutches from a double amputee. Wey Papa Bondjay… SMH!!

    • Anonymous
      January 30, 2015

      Skerrit is a starring, because the opposition is incompetent.

  5. out of south city
    January 29, 2015

    Does anyone know how much money Dominica owes its lenders? If we don’t stand up for our rights it seems like pretty soon we will be sold to one of these countries. Are we told of the negotiations that take place between our leader and the leaders of these nations? It is incumbent on the P.M to let the populace know of his business deals since he has been nominated into office by the people. (Isn’t that part of democracy?) On the other hand, democracy is becoming an issue in our once peaceful nation so maybe he thinks that this a one man’s business and the masses should not be enlightened unless he wants them to be. Furthermore, with all what’s going on after election, we can’t even come together to protest anything illegal by the present administration. Where is our nation heading? Would someone please tell me?

    ONE LOVE

  6. Away
    January 29, 2015

    Mr Maduro is removing the Venezuelan people stomach to give to Dominica and he is putting straw in their own. God never said to do that. I know not one Dominican would stand by and see our country giving away the little we have to someone else and would say God will provide.
    Then again I am left to wonder which God is he talking about? Is it God our Father? Or their man made god: Hugo chavez? Because I can recall that sometime back one of their member of their house of assembly did the Lord’s pray but putting Hugo’s name where God was suppose to be. All these so called socialist/communist countries want to do is impoverish their masses so you will always have to come to them to beg. Then, they turn around and give handouts to other smaller nation in make believe. Then our so called leaders who have no brain in their head start to call one another comrade on radio and all over the place. But this just a ploy to fool and then rob the masses. While they are living large.

  7. Intoxi
    January 29, 2015

    Maybe Venezuela is obligated to give a few Investment dollars to Dominica maybe that was part of the deal for acquiring Bird Island. Do you remember There was a talk around saying Bird Island which once belong to Dominica was given to Venezuela…..Nobody knows what went down in that MOU if there was one. I am convinced that Venezuela is obligated to give Dominica something, it was not just for friendship Skerrit and Chavez was liming around. You all can say what you all want for the life of me i cannot understand how a country like Venz just a few weeks ago was alll over the world looking for money to help it self and just now it is able to give Dom at least 10Mil. something went down that we dont know about. Thats why i believe we will be sold with out we knowing. right now am looking for a European passport anyone know anybody who is willing to exchange check me out

  8. Commentry
    January 29, 2015

    Oh My what happen to the PM

  9. OMG
    January 29, 2015

    Chicken coming home to Roost. Money squandered now taking more loans to put Dominica further into debt while all industries suffer. Yes all the ministers of Govt fat like puffer fish –

  10. faith
    January 29, 2015

    The currency in Venezuela is pesos by the way and that’s very very very low to the us dollar so my people pounder on that,

    • PS
      January 29, 2015

      The official currency of Venezuela is the Bolivar (not the Peso), also affectionately known as the “Bolo”. It dropped o today on the black market to 9.75 for 1 U.S.$., against an official rate of 4.30 (or 5.30 for companies that need access to foreign currency to pay for approved imports). Venezuela’s iofficial inflation rate today is 52.6%.
      The Peso is uses by countries such as Cuba, Mexico, Argentina, Columbia and even the Philippines ( at varying exchange rates, of course)

      • uwotm8
        January 30, 2015

        lol where you getting your info from? That sounds like the rates of like 3-4 years ago. The official rate at bank is something like 11 to $1 and there is supposedly some level of exchange where it is 6 to $1 but at black market it is like 110-150 for $1

    • Lang Mama
      January 29, 2015

      Boy boy I must laugh you know. And Faith you said pesos with so much pride wii.
      One thing for sure that wasn’t a Typo.

  11. Anon
    January 29, 2015

    I too think Skeritt’s gov’t is very weak on job creation but this is a step in the right direction. Then again, where would your fellas turn for help with the economy, Taiwan? We all saw what happened when they were in power Taiwan would only lend a meager hand of a few dollars, and they could never even pay civil servants most of the time.

    Taiwan doesn’t really help with development, they only gave a few dollars in return for votes at the UN. Every gov’t in Dominica has to seek funds from donor countries, so if your fellas will not do that they should simply give up opposition and help form another party. It’s that simple. Even the US gov’t has found itself in financial crisis, where Repubs refuse to sign up to finance the US gov’t beyond 6 months. Venezuella will bounce back from this, just like the US bounced back from the recent housing crisis. There are slums/ghettos in the US too.

    • forkit
      January 30, 2015

      so what you saying, you need a country to take care of your every needs . pay your loans give you money and pay your civil servants?.

      you must be really smart.

  12. Tjebe fort
    January 29, 2015

    Bandes, is that not the same social bank where a senior executive was arrested by U.S. authorities for bribery and money laundering with the help of two U.S. associates working for a brokerage firm?

  13. DonK
    January 29, 2015

    Countries don’t have ‘friends’. They have ‘Interests’.

  14. Truth be Told
    January 29, 2015

    Mr Prime Minister which planet are you living on? Considering the low rates of interest all over the world, your 6% loan is not necessarily a low rate! Take a look at rates for business loans all over the Caribbean and the wider world and then tell me what you are on about. If business loan rates were 11% and 12% at the AID Bank, then it is no wonder local business investments have dried up. Remember when interest rates are high people save to benefit from high rates and when they are low people invest as there is no incentive to save. Get your economics right. With all your advisors you do still sound inept most times! I wish you and the Dominica economy Godspeed!

  15. Ambassador
    January 29, 2015

    Hod it! Hold it! Hop on me back, ley we bypass Venezuela and go to Argentina.

    • Titiwi
      January 30, 2015

      Don’t change the subject my boy. We know Argentine’s economy is bad but we have no oil from them, no loans from them,. Is our “friend”Venezuela we talking about.

  16. January 28, 2015

    Dominica needs sustainable businesses, an honest tax structure (VAT is good for developing countries) low debt, small government and exploit the natural resources in a sustainable way. Priorities should be rule of law, education, transportation (air,land,sea), communications, security and a very thin welfare net. Dominica does not need subsidies and loans from Ven, or China or America. And if loans are taken, they should be for revenue generating activities utilizing Dominica resources. There are a lot of positives going on but debt will kill the country. Following the European welfare state is even worse. As Mrs. Thatcher said ” socialism works wonderfully well until you run out of other peoples money”

  17. too late
    January 28, 2015

    Dem fellas really desperate wee. Venezuela cannot even buy toilet paper but dem fellas still want them man money?

  18. January 28, 2015

    And when you get that money Dominicans who meets the financial criteria should be able to access the funds and stop with that nasty habit of playing politics with every thing!!!!

  19. faceup
    January 28, 2015

    Elas all you people are really BEGGERS….TO TAKE MONEY FROM A COUNTRY THAT IS IN A FINANCIAL CRISIS…WICKED

    • The Facts
      January 28, 2015

      I think the PM told people as you too much. You should not know all what he stated and are not entitled to know. This caused you to be narrow-minded and critical. In any case, what and how much do you contribute to the economy of D/ca that you are so critical? How do you expect D/ca to progress if everyone is not employed or at least the majority? Do not blame the government for the latter. Everyone is responsible for him/herself.
      Have you considered where all that money comes from and who provide it to build roads, etc.?

  20. REAL!!!!
    January 28, 2015

    Businesses in Venezuela who have money in the bank cannot get their monies out of the banks to pay for their goods and services received from international partners. But the same bank is extending credit line to Dominica although Venezuela is on the brink of collapse……as we still own Venezuela heavily is the Petro Caribe relationship.

    Something is not above the board here and don’t add up…….

    SMH

    Skerrit Again he is just attracted to Hanky Panky

  21. Lougawoo Mem
    January 28, 2015

    Bottom’s up, “God will provide.” He assured the Venezuelan people with those words. Hmmmmm.

    • The Facts
      January 28, 2015

      Faith, hope and trust in God. He is in control. He always provides. Never give up. He provides just what we need for our survival, the essentials and nothing more. People have lived under worst conditions and they survived.
      In bygone years D/cans, especially the poor were not as helped as today. Yet they survived.
      As Our Lord Jesus Christ said, “Ask and you shall receive . . .” Granted, this is in spiritual terms, it also applies to our needs.
      If you are a godly person, a practicing one, you would comprehend it. You would not be critical and question it. Always be positive. You will be happy for it.

      • uwotm8
        January 30, 2015

        So I assume you don’t work or make money you just sit back and say “God will provide” right? Oh that’s what I thought some way or the other you are either working hard to sustain yourself or benefiting off the hard work of someone else.

        In the case of a government, they need to take responsibility and chart a way forward and make some effective changes that will help the situation. Saying “God will provide” is a silly cop-out that will only satisfy the already brainwashed.

        Do you know what christians (evangelical and catholic alike) in Venezuela think of Mr. Maduro’s statement? Let’s just say if they had to truthfully express their opinions it wouldn’t be very christian of them. Nobody in Venezuela is buying that crap, except for the brainwashed chavistas who are mostly not even serious christians but just a confused bunch who believe in superstitious nonsense and worship the image of their deceased ex-leader

    • RickJames
      January 29, 2015

      I have friends there in Venezuela and they have no meat and it’s a struggle to get any food. Corruption is rampant and most people that can are leaving the country. Kidnapping on the rise and gangs are ruling the streets. They need help and not the other way around.

  22. lABOR pOWER!!!
    January 28, 2015

    If this picture is real Dominicans have every reason to panic and Vince better speed it up

    • Titiwi
      January 28, 2015

      yes Sir, nice suit but you looking gonflay like a puffer fish. Please stay well but I don’t like that, don’t like to see that at all.

      • The Facts
        January 28, 2015

        DNO should not have posted this useless, uneducated, wicked and gossipy comment. You projected that you are not a nice person. People as you turn others off DNO. Woe to you! :twisted: :mrgreen: :twisted: :mrgreen:

    • Views Expressed
      January 29, 2015

      OHHHHHHH My God….I am in a serious LOL …lol..there…..all people have jokes wi papa…
      On a serious note, the PM looks desperate for aid….
      There is no developmental plan from this government as to where Dominica should go but we are good at begging other countries from the little they have in their cash tin. Well my cash tin well hidden under my mother bed…..

  23. The Evangelist
    January 28, 2015

    Is this a recent picture of the PM? Boy the picture does not look like him and his voice sure sounds strange. At a glance I thought it was the picture of Lawrence the attorney or Lennox Linton. The Pm needs to take a break from the pressure of politics to take care of himself ASAp

    • The Facts
      January 28, 2015

      Have you ever taken pictures? Think of the person who took the picture and the angle it was taken. Be broadminded. Generally pictures do not come out the same and in the manner others think they should.

    • whoistoblame
      January 29, 2015

      i thought so too.If it is a recent picture , he is really sick. He needs help.

      I THINK ONE OF THESE MORNINGS WHEN DOMINICANS WAKE UP , THEY WILL see military guys all over DA. Then they will hear the country has been taken BY…………………….

  24. Jon Carson
    January 28, 2015

    One would log on to DNO and read the same scrapers trend, blog and make this same crap commentaries after commentaries (talk and no action), and there are those who always have a point but the point is a repeat of what someone has said and the loveable they love reading themselves with no point to the discussions.

    • Views Expressed
      January 29, 2015

      Jon….then the PM must give us something of value to talk about…….as a nation

  25. January 28, 2015

    Maybe we should ask our our dear financial guru to enlighten us on how sustaining an economy with limited natural resources stay afloat. let us take a page from the richest country in the world…. the ood old USA.when the country was in crisis and it seems like the bottom of the barrel was about to explode, what did they do to stabilize their economy? STIMULUS PACKAGE and where do you think that money come from? China. My point is.. in a country with limited resources in order for consumers to have a cash flow, the only way to go is soft loans.so my people do not be fooled, take time out to study the economic policies of the rest of the world and then you will agree, that the measures that your government is putting in place is for the future of all of us in this country. hate a dog but speak the truth, tell it…its teeth is white

  26. DA Girly
    January 28, 2015

    When was this picture taken?

    • Titiwi
      January 29, 2015

      I believe the picture was taken yesterday self, You can see the AID bank logo behind him.

  27. January 28, 2015

    Hello and good afternoon my people. The Venezuela economy is in crisis due to sanctions by the American Government and the plunge of Oil but we are asking them for loans. How are our people going to pay back those loans when they come due or is the PM going to leave it for another Party or administration to pay back. I have money in our National Bank and Credit Unions and I hope my money is safe.

    • January 28, 2015

      Please name the sanctions that have tanked the V economy. Before you spout stupidity, please learn how to at least read the Economist, WSJ, NYT, or even the Miami Herald. Or simply ask one of the millions of ex-pats from Ven. Their economy is tanked because of A) Chavez was a moron and removed anyone with a brain in the oil industry B) Chavez threw away Billions providing the poor handouts and not growing the economy C) Chavez stole (sorry re-patriated) hundreds of foreign owned businesses who actually knew how to build and sell stuff D) Chavez/sans Ven subsidizes gas, food, etc.. at massively low prices which create huge black markets E) Chavez and Madduro are absolute economic morons and have massive price controls on most everything and now have false pegs to their toilet paper currency which is trading 100X more on the black market. When somone in Dominica starts to figure out the law of basic economics, please feel free to post.

    • Francisco Telemaque
      January 29, 2015

      Tony, when will you learn? The other administration will be Roosevelt Skerrit after this five year term expires; what we saw last month will happen again, Dominica people like freebs: Anything free they can get their hands on causes them to become blind. As a result if they are led to a gallous, the only time they will recognized they are going to be hung, is when the hang mans noose breaks their necks! Next election Skerrit wins again! It is a pity; Skerrit’ is a beggar prime Minister. He is nothing more than a stooge to the dictators of Venezuela, and China.

      He doesn’t know how to attract business investment into the country, he would rather die than to let go to anyone else who may have a more productive mind than him, power is his ultimate goal, as long as he is Prime Minister; the poverty and vast unemployment in the country matters nothing to him!

  28. Eidolon
    January 28, 2015

    Wow, I must say the comments on this article are the most intelligent I have read in a long while. There is hope for us yet.

  29. face change
    January 28, 2015

    someone please tell me is this real time photo of mr Skerrit? i mean is this the latest recent as we speak photo of the prim minister? com on his not being impersonated is he?

  30. FAST N FURIOUS
    January 28, 2015

    One is trying to wonder what Skerrit has done to you All,UWPITES?Stop pretending to be who you are not,
    You All seem to have a plaster for every soar! You All are like birds in the wilderness,put you All in a cage is a different tune. Try to look your face first in a mirror before telling someone else that their face is dirty.

    • Titiwi
      January 28, 2015

      Sore Fast and Furious, even a little guy like me knows that. Back to school with you garcon

  31. not again
    January 28, 2015

    They like to beg Venezuela don’t have why they kicking a man we he’s down

  32. Dawn
    January 28, 2015

    I simply don’t believe what Skerrit is saying. When we will know if the loan is approved Roosevelt? Maduro and the Venezuelan economy have too may problems to be lending $$$$$$ like this. This statement by Skerrit falls flat on its face. People line up for 5 hours in Caracas to get toilet paper.

    Skerrit and the Dominican economy are in deep trouble and Blackmoore wants to use force. This is a very dangerous formula. The short and long term forecasts for DA look bleak and gloom. History has a way of repeating itself—– Hopefully there will not be a repeat of May 29 1979 but these events and happenings are never planned but rather take lives of their own !!!!

  33. amy
    January 28, 2015

    Thirty plus million for election. Now u trying to borrow ten million dollars.why don’t you borrow from the people you give the money. You should be good for a loan. A fool and his money is soon departed.

  34. Mediator
    January 28, 2015

    Hold on people, the president of Venezuela was just on a tour around the world begging for money, his country economy is almost down the drain and he may be forced out of office. How are they capable of loanining us money.

  35. Shaka zulu
    January 28, 2015

    I call this ponzi scheme economics. This guy is really making me laugh. I am no economist but took enough econ classes in college to identify bs. This is not growing an economy. This is more like a bail out, but instead of coming from our government reserves to the private sector it is coming from a foreign country, who themselves are failing economically. At the end of the day Dominica has to pay back Venezuela. In essence, Venezuela is the one to gain from any returns on investments. Where are the profits from petrocaribe and all those millions already pumped into the country. When will this madness stop. This is unsustainable and should go through parliament. This is a pm hell bent on socialism. History must have been real bad to you.
    I would go on but DNO has capped my characters. I feel sorry for Dominica. Its like we drowning in debt so grabbing on to our padna drowning next to us.

  36. 4u2c
    January 28, 2015

    VAT is the backbone of the economy and you adding more loans to that? Venezuela need cash more than DA. Greed with no innovation is HELL!!

  37. Francisco Telemaque
    January 28, 2015

    Roosevelt, sixteen million dollars in U. S. currency is basically peanut change, since you are talking about an equivalent of E. C. currency of approximately EC$43,200,000.00 dollars. I hope I calculated correctly, but that is somewhere in the region of forty-three million dollars what is the interest rate on that amount. In what sort of projects borrowers are going to invest into? I would anticipate into some manufacturing, and exporting business, other than that it will be a waste of time.

    What you should have done by now Skerrit is borrow and build a damn International Airport, which will attract investors and visitors alike into the country. Peanut investment yells peanut change! You can borrow from now to the demise of all of Dominicans, without modern industries in the country, nothing significant is going to materilized!

    • Bomboclat
      January 29, 2015

      Boy You that telemaque does really upset me and I am also sure the many readers of DNO. You doesn’t even brush your teeth or wash your bottom but you on DNO. With how much properties and businesses you claim to have why you always on DNO. But one thing I must say jealousy is a sickness and get well soon, a man cannot be obsessed with another man like that. Get well soon you hater. P.S go find you an escort to keep you more busy instead of having dates with your hands every night.

      • Francisco Telemaque
        January 29, 2015

        I will not only upset you; I will cause you an aneurysm in your brain, which you will not survive! Either that or psychologically I will cause you to hang yourself, you pieces of nothing! You are messing with the wrong man okay.

  38. Zbigniew Brzezinski
    January 28, 2015

    Common sense is not incompatible with principle :mrgreen:

  39. JoJo
    January 28, 2015

    Mr. Skerrit, why don’t you arrange for the AID Bank to get money from the Chinese Import-Export bank at 2% like you did yourself and our bank can make easily 4% gross on loans to private citizens. Maybe that is not such a good idea but you are not telling us what interest rate the AID bank has to pay the the Venezuelan Bank. That would be very interesting to know.

  40. angel
    January 28, 2015

    life vest on get ready to jump; sorry but i am taking my monies out of that crazyness

  41. Malgraysa
    January 28, 2015

    A rate of 6.0% must look attractive with a commercial (private sector) rate of 9.1% recorded for Dominica by the Worldbank for 1010-2014. However, during the same period the rates for the U.S.A. and U.K. were 3.3% and 0.5% respectively. If you are an investor from the U.S.A*. or the U.K. and need to borrow money for investments in Dominica I would recommend that you avoid our local institutions and secure financing in your own country at more advantageous rates. In the case of the U.K. you can protect yourself against exchange fluctuations by buying currency forward. That also helps at the same time, the inflow of foreign exchange into Dominica and leaves more funds available for local borrowers, who don’t have the option of borrowing overseas.

    * Right now in the U.S.A. for example, refinancing is available from 3.01% to 3.85% fixed ( 10- to 30 yrs).

    • anonymous2
      January 28, 2015

      IF …you can qualify. The banks are very picky these days.

  42. LANGlu
    January 28, 2015

    de dying trying to steal from de dead,, what a sin ting lol

    • hmph
      January 29, 2015

      more loans again? hmm you would think our economy stable, seeing the amount of money that was spent last month hosting fetes, and being dished out etc for an election campaign. Where is that money now? It could have been put to better use instead of taking more loans

  43. FORKIT
    January 28, 2015

    to daddy chess.
    it seem like you cannot sing calypso songs pertaining to the issues of the day. in this government time they have made the most mistakes, corruption and other ills that is affecting us today.
    the song “SOMEBODY HAS TO PAY FOR THAT”, I can recall was made or sang when the UWP was in office and it was so great, the song gave you the king.
    now you come with all sorts of songs like crab in a barrel and it is what it is. there are so many issues why cant you give us a great songs like before, by going straight to the issue like in the days of “SOMEBODY HAS TO PAY FOR THAT.”
    Dominica has with practically zero exports. how are we going to sustain all those loans. SO DADDY CHESS AS A BANKER, WHO DO YOU THINK IS GOING TO PAY FOR THAT.

  44. Chakademus
    January 28, 2015

    This is going to be interesting. Maybe our ten million is small in the larger scheme of things but the timing is interesting. With the price of oil at multi-year lows, the Venezuelan economy is in crisis and they don’t have enough currency to feed their people, how on earth can they lend us money?

    • PS
      January 28, 2015

      Very simple. We take it from what we owe them for the fuel and call it a loan.

    • BORN DOMINICAN
      January 28, 2015

      this is a damn good question,what i think this is its just another lie and way to fool the people.

  45. jo
    January 28, 2015

    How you going to pay it back, Mr PM?

  46. Mwen
    January 28, 2015

    Is it me, or are we really milking a decomposing cow here?

  47. alas
    January 28, 2015

    http://www.bloomberg.com/news/articles/2013-05-07/venezuelan-offical-u-s-broker-dealers-charged-in-bribe-scheme

    this bank was formed in 2001…..wow. i thought it was in operation longer than that, with a proven recorded track history
    boy is a good thing i doesn’t just believe what people say…..i like to know for myself.
    so this is a development bank largely owned by the Venezuelan Government
    this reports smells like money laundering to me….

    Can’t de PM ever get it right?
    Why such shady partners

    same games……no end in sight.
    i am convinced that Skerrit perhaps is more controlled than controlling
    someone seems to be handling my PM

    i don’t see how a man can find himself surrounded by these shady partners and still find solace among de top religious leaders and organizations in society…..
    these groups even accept that money
    i will continue my research to keep ahead of you PM
    U CAN’T FOOL ME!!!!!!!!

    • Titiwi
      January 30, 2015

      Don’t know who told you that but AID Bank was established in 1971. Ask them if you don’t believe me.

  48. January 28, 2015

    More loans how are we going to this back. Smh.

    • January 28, 2015

      How are we going to pay this back.

  49. anonymous2
    January 28, 2015

    DA always asking for more. The poor trying to borrow from the poor. It is never enough because the leaders want to keep it dependent and the mentality is one of dependency. One way money drain, when it had the capability to be independent and thriving. But those days are gone because of the massive debt and ownership by foreign countries. Just like the U.S. Too many of the wrong leaders are in office.

  50. alas
    January 28, 2015

    huh?it should be fair for me to conclude that Petro Caraibes and Alba is currently not in a position to continue its mandate
    what is there left to benefit from Alba?
    Chavez dead
    Maduro doh know how to manage de country.
    I going to do my own research on dat Bandes bank……
    when it comes to my government i can no longer trust what comes from de PM mouth nor any of his moose boys…..
    i will find out for myself
    thank you

  51. tet pool
    January 28, 2015

    Venezuela!? Venezuela reeling we and they in recession…thought they need the money more than we do. Awa nuh…..I agree all you really milking that cow papa!

  52. Thor
    January 28, 2015

    Maduro, I have news for you. Good management of the economy provides a bounty for its people. With the kind of wealth that Venezuela is blessed with, you should no longer have to depend on God to provide. He has already provided you with all you need to provide for all your needs.

    Your country was governed by a bunch of kleptocrats who only cared for the rich. They were replaced by an army general who cared for the poor, but did not have a clue on what it takes to govern a country. Perhaps if your countrymen were real statesmen, you would not need to depend on God to provide.

  53. derp
    January 28, 2015

    you cannot run a country on loans… loans cannot create long term jobs, loan money does not last forever

    • Thor
      January 28, 2015

      Don’t be silly. If banks are not there to provide lending facilities (LOANS) to business and people (to buy houses and cars), the economy would grind to a halt.

      I just took a low interest loan to make some investments. There is absolutely wrong in that. The banks make interest income, I take some risk and hopefully I will make a profit. From that profit, I will pay taxes on the capital gain. Those taxes will help fund schools and social services. That is how developed countries move ahead.

      There is nothing inherently wrong with borrowing for the right reasons.

      • LANGLu
        January 28, 2015

        you will support all non-sense. how can a country take loans on loans and do not have any form of exports. manufacturing. agriculture. tourism can sustain our loans including de red clinc… allu must say as it is… stupes

      • anonymous2
        January 28, 2015

        I guess that you don’t understand the banking game. They are out absolutely nothing for making you a loan out of money that only exists on paper. It is called creating money out of thin air.

      • Me
        January 29, 2015

        Come and invest your loan in Dominica bro. We have no capital gains tax (or inheritance tax). But of course, if you are an American citizen and you want to escape that tax you would have to give up your nationality and buy a Dominican one instead. But don’t worry, we will sell you that too. That is more profitable for us than bananas. Citizenship does not catch sigatoka and does not need fertilizer or trouble some farmers. What a crop!

    • The Facts
      January 28, 2015

      All countries operate on loans. What is your contribution to D/ca’s revenue? :twisted: :mrgreen: :twisted: :mrgreen:

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