ANGUILLA EXPRESS (sister publication): Anguilla’s Chief Minister Hubert Hughes says the island’s financial problems continue to be dismal and that it will take some time to repair the damage inflicted under the last administration.
Hughes, who also holds the Finance portfolio, said the last government borrowed money every month to pay the salaries of public servants. He said his administration finds itself in a similar position.
But Hughes is hopeful that by the end of this year things will begin to improve.
Hughes told reporters here on Tuesday that his government will have to borrow EC$10 million from the Eastern Caribbean Central Bank (ECCB) in St. Kitts to pay civil servants at the end of this month.
“That money is coming from the Dominica credit. The previous administration was doing the same thing. They went to borrow money from the Dominica credit at the ECCB. Dominica has built up a big credit in the ECCB because Dominica is prudently managing its finances,” Hughes said.
He said government this week has been negotiating successfully with the Dominica government through the ECCB. “Dominica has agreed that we can use EC$10 million from their credit so that we can pay wages for this month (August). All the members of the ECCB have consented,” Hughes stated.
The previous administration borrowed a similar amount from the ECCB last year using the Dominica credit arrangement with the financial institution.
Hughes said the only difference is that his government made its intention to borrow the money from Dominica public from the start while the previous administration kept it a secret.
Hughes noted that Anguillians only found out about the use of the Dominica credit at the ECCB when the Dominican leader spoke about it during his election campaign.
@@ UPTOWN REBEL: Ha ha ha,ha….Ha,ha,ha,ha..(Lol)… That was funny.Thank you,thank you very much…..I wonder how many words were inserted?….I will however take your advice,and do better next time. Nuh really,i promise….. In the mean time, keep the jokes coming……
All the best to you………
You busy to tell us how we ignorant you cannot even write a sentence properly. Then you coming back to do the editing and inserting words. Shame on you and take your time when leaving a comment so as not to appear as a fool.
@UPTOWN REBEL!!!..that should be..”i will apologize”…sorry my bad………
Wow!……Man!……..,I’ve read all your comments so far, in its entiety,and sadly, and shamefully,most of you people have taken ignorance to a new level.With some,even going as far as including people of other Nations in their insultive political diatribes…..On that note,let me digress…..
I,on behalf of the people of Dominica will apologize to the Black people of America….Thank you America,for all of the Great African Americans,(or Great Black persons), whom you have produced,(or, who have risen up, from you within you).Because of them,my life,and that of countless others are much better today. Though the struggle continues…………….Nuff said..
All the Best to you all.
Peace profound!!
The Prime Minister is not able to give his civil servants a decent pay raise but he can lend Anguilla money to pay theirs? What kinda crap is dat? Why he didn’t take that money and give his people a raise instead? Is just a set of foolishness dat happening in dat country. I hope all of you open all you eyes and see what going on because that just not right. I wonder if we were in the position if Anguilla would put our needs ahead of their own.
All that L L on Saturdays have some Dominicans tehbeh.
Once again I wish to utter my extreme gratitude to the Prime Minister and the people of Dominica for giving we the public servants of Anguilla the opportunity to receive our salaries in a more timely manner. The citizens of Dominica should hold Prime Minister Skerrit in great honour for the PRUDENT management of his country’s affairs. I applaud him immensely as he is one great leader to be emulated. God Bless Prime Minister Skerrit and the People of DOminica.
@dominichey correction using the “n ” word is not Ebonics. Ebonics is a language dialogue similar to Kreole and Patois spoken in the islands or Pigeon English spoken in parts of Afrika. Kreyole is accepted today as a language but as you know not long ago it was considered inappropriate and children were punished for speaking it. So please instead of bad mouthing African Americans in attempts to make a point get your facts straight and realize that all Blacks are part of the larger Afrikan Diaspora with a similar and shared history.
On to your point yes the use of the “n” word is ignorant and its crazy how many throughout the Diaspora have been duped into using. It saddens me to here its use in my travel and look forward to the day people wake up and realize its not a term of endearment.
@only: Pls why dont u go and read and understand what is happening before u come on here ans talk nonsense. Thats the biggest problem we face as a ppl, we listen to others and make out decisions based on that they have to say. Read for yourself and understand before u talke, educate yourself or should i say re-educate yourself pls, u are doing urself and country a disservice!
After all what we have goen through from 2003, we should be proud as a nation, as a people that we have reached the stage where we can LOAN another sister country from our credit at ECCB, thats says alot about us, our administrators/government and in particuar about our PM!
Something is happening!
Here is a prediction! Dominica will Never reach it’s full potential if we continue to attach a political connotation to every action whether it be by the government or private individual. One should be free to express one’s political views or for that matter let one’s political affiliation known without fear of retribution or enmity. We should celebrate the accomplishment of any government and be free to disagree with those actions we deem not in the best interest of the country. We in Dominica take party affiliation to the point of ignorance.
@dominichey:
My sentiments exactly. I am thinking that he is a teenager who lives in the U.S. What do you think? Perhaps he needs to be reconnected to Waitu and its values.
If anyone cares to read them, these are the original articles as they appeared last year.
http://www.anguillian.com/article/articleview/7764/1/140/
http://antiguadailynews.com/?p=284
This just shows that politicians speak with forked tongues.
By doing some more reseach on the matter, it appears that one country can leverage its line of credit to another. The incentive for doing so is the return that is received – not only the financial returns, but also the return on good political and economic alliances. Here is another thing that I learned from my friend that works at Credit Suise: A country that leverages its line of credit to a third party will accumulate credit worthiness ( of course, the terms of the extension have to be met by the third party). It is like building good credit. The return that ECCB gets back from Anguilla will actually augment DA’s future lending power, and increase it line of credit. It will allow us to use it one day when the rain curses the earth.
Some people on DNO need to understand that DA is stretching out of its doldrums, and trying to operate in the direction of the world outside of our shores. Let us give the bold initiatives a chance to breathe, people. DA will only move forward with bold moves. If you have a better initiative that will work, bring it forth. If not, stand back, and chill. You guys attack everything, but have nothing to offer in return.
where credit is due people pls give credit to the PM. In fact i should say i have no problems with goverment programs in last 5 years,the problem i have is how it is implemented.My problem is goverment has not handled the chiny businesses not paying proper dutys,vat,and many other fings.
It’s good when we as Caribbean Country can help each other. thats how it should be, one caribbean , one people.
@keston williams aka madd handles:
I do not normally spew negative venom at people who post, because it is their right to do so. However, in this case, here I go…………………………….Maipuisant……………………………….
How old are you. mate? If you are less than five years old, I forgive you. If not, go read Frantz Fanon’s Black Skin, White Masks; and have you brain reconnected to its stem.
Whoa, madd handles, your handles are really off the hinges. You have actually turned one of the most negative connotations/derogatory word into an acronym; and have followed the African American down the path of self-infliction. You have gotten so use to your wounds that you can no longer differentiate between what hurts and what doesn’t. You are like the Dominican who calls other Dominicans Dumb-nicans, and think that masking the term in some fancy vernacular lends credence to it.
Remember that famous Saturday morning when this very same Chief Minister was on the radio with a particular radio host? Bat something…?
Well… I would love to hear what the bat has to say now.
Thank you lord Jesus PM Skerrit have been vindicated .Gods blessing, love you always.
@Trevor Johnson: Trevor , you are already and ugly marco stop making yourself look stupid nuh. Any right thinking people know that the money is not directly lending money to Anguilla. However, they are authorizing it as it is assigned to them. That means if Dominica decides it wants its allocation to be used at some point they can refused to authorize. That means that they have leveraged to withhold it. So essentially it is like they lending it! BOOM BOOM
Fair is fair, just say well done PM.
@………….: Stupid, It is Dominicas line of credit. If I go to thebank and negotiate a line of credit I an entitled to it and I can decide to have it carried over to someone else stupid.
@keston williams aka madd handles: Keston Williams, You are the type of person who makes me embarrassed of being Dominica sometimes. The word nigger or nigga carries a negative connotation and should be a word buried. DO not try to justify a negative word, as difficult as it is and waaay beyond your brain power, try to elevate yourself from Ebonics created by African Americans to make social a negative word. Your statement has lost all value and has overpowered anything point you were trying to make.
I will love to hear Lennox, Athie and crew spin this one. I see Trevor tried without success. Facts are facts folks!! And for ALL of you diaspora folks who have been back to DA in a while and have been listening to the loads of crap on Q-95 and the other media garbage antiSkerrit hate-filled outlets, this story is evidence that your country is making strides and indeed economically sound and advancing.
Obviously things are NOT rosy (after so many years of mismanagement first by the stingy Freedom Party who did almost NOTHING in the country, to the overspending and wreckless UWP who almost drove us over the cliff). Now we see new businesses opening all over Roseau, and other parts of the country (and not only Chinese folks).
With this government in place, our lovely DA is gonna be the envy of the rest of the Caribbean in 10-15 years. I guarantee. NOW OUT WITH THE HATERS!!!!!!!!
As I’ve said before, I have had reservations of the Skeritt led government and never really supported his government, but we must give credit when it is due.
I can’t help but noticed that he’s pursuing common sense and pragmatic policies (i.e: universal education, airport night landing, proposed hotel near airport, financial management, etc.). They deserve credit for those achievements.
I must say he makes me nervous with getting so cozy with Hugo Chavez.
Fair is fair…..give the government credit when it is due especially when it benefits Dominica as a whole.
A partner country is asking for help to keep it’s civil service stable and that becomes a political talking point for people on the other side. What if they were in goverment and had the prudence would they not do the same thing. It clearly shows the expanded mind set of those on the opposition. And yes Dominica this your opposition and the way they think. Help the county you just never know when you might need help yourself.
I find for a country with brilliant minds, that our people are so cantankerous, argumentative, quarrelsome and lack basic understanding. People debate day and night, 7 days a week with no end in site. They even argue that the sky is blue based on who say so. Look a people.
my ppl, stop being niggers seperated, stupid and ignorante …and start being n.i.g.g.a.s never ignorant in getting goals acomplished.
because is our thinking alone that stoping DA from going FWD
If DA has so much money, it needs to cut the customs taxes in half at the port.
well am just glad i can get paid this monthend…
@Listener: You say begging in a derrofatory tone. I think it is smart to beg instead of using up your surplus. Even a wise family would prefer to “beg” than to dip into their savings. We save for rainy days and as long as we can get what we need from benefactors, we will keep our savings so we can be of help to others.
@Listener: My people are just too ignorant……
smart Trevor!!!! lend me your credit card for me to borrow a little of your money.
smart Trevor lend me your credit card for me to borrow some of your money.
I don’t get it…we are so missing the point. We are so busy trying to make a political debate out of everything that the present administration does that many of us are blind to what is truly going on.
We should all know how the ECCB functions and if we do not then we need to do some research before we come on here and make statements. All countries are allocated funds that they can utilize in their respective countries. What we have to understand is that it is not compulsory for it to be used and if we use it then we need to pay it back with interest. Why is it not a good thing that Dominica is NOT borrowing? And if we were borrowing, why would that be a good thing when we would have to pay it back? Like most people said, it is like a credit card. You shop till u drop on the credit available but you have to pay it back, and therein lies the doulent. So, while it is true there is a lot to be done in Dominica, there will always be a lot to be done because the people and the physical part of the country is evolving. The work will never be done.
Therefore, it is better for the Government, whoever they are, to find ways to try to do what needs to be done without putting themselves further in debt. It makes no sense to go into debt to clear debt.
And as for Anguilla utilising Dominica’s credit, it is good that we can come to their aide. One day, we may need help and we would like to think we can reach out to some other island that would be more than happy to help us.
Think people – beyond the red and the blue – think Dominica.
OK guys let me explain how this thing works.
The ECCB being the Central Bank of Dominica also provides ordinary banking services to the Governments.
Dominica operates an escrow account, a call account, an investment account, and a credit account(this is like a credit card)
The escrow account is used to pay foreign debt when they become due. This account has over EC$30Million.
The call account is used as a holding account. For example if the Government of Venezuela gives Dominica $10Million this money must pass through the ECCB and temporarily deposited in the call account. This account always carry a zero balance.
The investment account is as the name implies. Government cash investment at the ECCB is about EC$75M. (Go to dominica.gov.dm and check the report of the Auditor General)
The credit account is for short term borrowings. Any amount utilised must be paid in full within 45days.
This account is Dominica’s account and can only be used by Dominica. Any use of this account goes against the name of Dominica. In this case if Anguilla defaults this goes against Dominica. It is like Dominica taking a loan and lending the money to Anguilla.
If Anguilla does not pay on time the ECCB will take the money from the Escrow account held at the ECCB. This has happened on numerous occassions.
This can only happen because of the liquidity situation of the Government of Dominica
Therefore it is correct to say that Dominica lends money to Anguilla.
In spite of what the opposition and their supporters would have us believe, Dominica is better off financially than most OECS countries. During the election, the Prime Minister was called a liar by the UWP and their supporters for saying exactly what this gentleman has just confirmed. Now that Hughes has confirmed what the Prime Minister said, the new attack is, it’s not cash it’s credit.
But anyone who ever had a credit card knows that credit is equivalent to cash.
A bank gives you credit based on 2 things, payment history and income; credit is not just given willie nillie . If we in Dominica had to borroow every month to pay workers, what would UWP supporters say, oh it’s just credit, i don’t think so!! The facts are clear we have a line of credit that we do not utilize because we are fiscally stronger compared to other well-known OECS countries that we usually compare ourselves to and assume that they are better off than we are.
I understand why UWP supporters would want to diminish this fact. It doesn’t make an argument for government change, or factually support their claim that the country is going down the drains. So like party poopers they must put a spin on things, find a grey cloud in this beautiful rainbow. That’s politics I guess, and we see right through you all.
ADMIN:
Yes Anguilla Express is owned by Merrick Andrews…. got a problem?
@Dread!:
hear zeh zeh nuh. Dominica did not and has not lent any money to any country. Why is this country so filled with daff people…alas
@dr.love: because it is not a prudent thing to do. Another OECS country that did not exercise this prudence, is now struggling like Anguilla and will soon have to access our funds. Now, they have resorted to sending cilvil servants home because of the frequent increases over the years (especially close to elections) simply to score political mileage.
–reply
@dr.love: because it is not a prudent thing to do. Another OECS country that did not exercise this prudence, is now struggling like Anguilla and will soon have to access our funds. Now, they have resorted to sending cilvil servants home becauses of the fre
Kudos to the Dominican gov’t and to the financial secretary who continues to keep things in check. And for those of you who mistakenly think that the Dominican gov’t is only the PM, I beg to differ. Thanks Chief Minister Hughes for bringing some clarity to what the PM in his excitement during the election campaign may not have clearly stated. Facts are facts – the other islands could not be using Dominica’s credit facilities at the ECCB if Dominica had not been doing an exceptional job of managing its finances. I hate to have to bring it up, but gone are the days when the UWP had brought Dominica’s economy to shambles and the gov’t was forced to enter an IMF program and resort to assistance from the other member governments of the ECCB to keep afloat and to pay salaries. The tables have turned and as a Dominican who supports no party, but extremely proud to support my country, I say once again, “Kudos to the Dominican government and also to the financial secretary for getting us back on track and now among the best performing (if not the best) among the ECCB’s member governments”. The IMF, World Bank and ECCB records speak for themselves. I consider them much more credible for information than some of the DNO commentators and media personell who simply don’t have a clue of what’s going on, but choose to turn every positive to a negative.
my people pay attention to the specifics of the news item which states Dominica lends Anguilla 10million credit funds allocated by the EECB, therefore my people the are not dry cash from Dominica,, it is monies allocated to all Caribbean countries and because our PM has great begging skills he tries his best not to borrow from the ECCB thus leaving Dominica with surpluses indicating that we are some way doing well which is far from it.
people take time to read and understand before making foolish comments remember the world is reading.
@Anonymous: LOL! See how the last Chief Minister was lying! Skerro well know what he was talking about the last time!!!
@SALT MAN: before we write all these unintelligent comments, we need to understand what this ECCB credit fund is all about.It is not money that we have in our treasury. Please fellow Dominicans, the news item is as clear as our river water.In a nutshell, The chief minister is acknowleding the prudency of the Dominican government in managing its affairs. This is not politicking. Mr. Hughes is a very honest, intelligent,well spoken and down to earth man, by the way.be happy for the compliment . To all the haters of Prime Minister Skerrit, Zor tow jaluzee.
WHY DOESNT USE ITS CREDIT TO PAY THE PUBLIC SERVANTS,RIGHT NOW THE SECRETARY OF THE PUBLIC UNION IS CRYING TO THE GOVERNMENT TO PAY THE CURRENT 3% OWED TO THEM OVER WEEKS NOW.
Sometimes i wonder if the people that comes on this website know that 1000 of people read the crap they write. Guys you don’t need a degree in finance to understand the way this works. The money is a credit to the islands and if you use it you owe it.
Just picture your credit card if you have one…………..American express gives you $5000. limit. If you use it you owe it. When Dominica takes ten million dollars for taking sake who is going to pay for it? Our children will pay for it in the long run. Our Pm is not reckless and will not please the uwp supporters that have no idea what is the difference between left and right. This is not the way i want Dominica to be on the map.
@SOR SORT AND JAN SORT: Shut ur … FOOOLISH
lol @ this trevor johnson clown….
dude ur hyperventilating ain’t gone change the fact that Hughes just gave D/a (and Skerrit) mad props.
Go stand in Port of Spain traffic or something jeez man, or go re-read the classic disses u got when u were P.O.W on here..
“DOMINICA MANAGED IT’S FINANCE PRUDENTLY” DUDE WHAT ABOUT THE PEOPLE HAVE THE DOMINICAN PEOPLE BEEN TREATED FAIRLY. WHILE BEING PRUDENT DID WE ALLEVIATE POVERTY AND UNEMPLOYMENT.ANT-HATE THESE ARE THE QUESTIONS WE SHOULD ASK
DOMINICA DID NOT DISH OUT ANY MONEY PEOPLE- WE DON’T HAVE MONEY. INFACT WE ARE LOOKING FOR FREE MONEY. THAT IS WHAT THIS GOVERNMENT IS CAPABLE OFF -FREE BEES. THE SKERRIT ADMINISTRATION CREATE THE PERCEPTION THAT WE ARE DOING OK. HOW CAN THAT BE WHEN WE STILL WAITING ON CRUMBS FROM THE TABLE. THERE IS MASS UNEMPLOYMENT, NO MANUFACTURING AND THE AGRICULTURE INDUSTRY IS NON FUNCTIONAL. THERE IS NO LOGIC.
I DON’T GET IT THE D/CAN PEOPLE ARE STRUGGLING , MANY OF THEM RUNING TO ANGUILLA YET WE HERE BRAGGING. IF WE ARE NOT UTILIZING THE AVAILABLE FUND IT MEANS THAT OUR GOVERNMENT IS NOT FUNCTIONING AND CREATING AVENUES AND OPPORTUNITIES FOR PEOPLE DEVELOPMENT. THE UNDERUTILIZATION OF THE AVAILABLE FUNDS IS INDICATIVE OF A LACK OF VISION BY THE CURRENT ADMINISTRATION. WHY NOT USE THE MONEY TO SPARK THE DOMINICAN ECONOMY. MAYBE WE COULD REVERSE THE MIGRATION PATTERN AND BRING PEOPLE INTO DOMINICA ONCE AGAIN.
@Trevor Johnson: Are you an educated fool or just mischievous. Boy facts will always remain facts. The credit at the ECCB belongs to Dominica and they can do what they want with it. It is because of prudent management of the finances of Dominica, that the Prime Minister can authorize the use of its resources at the Bank. So stop being a hater and give jack his jacket. We can read and understand like the so-called educated uwpites. Take that for starters.
Dominica hasn’t been using its credit facility because dear old papa noel Chavez and others have been more than graciously helping us financially with grants. Is like you have a credit card. The more you mismanage your credit card, the more you mess up your credit. The healthy grants have been preventing us from going into our credit facility, therefore our credit status with the ECCB is increasing. We are not actually giving anyone money….nous pas ni.
Think multiple streams of income. Think return on investment (ROI). Think banana is dead, what do we do now…
Ok! Before everyone starts crying that we should not loan money to other countries/islands, because we need it here in DA, keep in mind that this is part of the normal operation of running a government; and running a gov’t is like running a business – you give to receive more in return. We have to leverage in order to gain, and to leverage and grow, you need diversification – widen you scope/broaden your porfolio. Think long-term, people. We will accumulate wealth incrementally. A gov’t does not grow by using the hand-to-mouth approach in fiscal matters. In order to have, we must first generate. In order to generate, you must first invest. In order to invest, you must have a broad perspective, and the ability to take risk. I hope we are getting a good return on this loan.
Dominica has money because the government doesn’t spend anything in developing the Country and eradicating poverty, the money is just sitting there.
well if Dominica is running with out overdraft, that all good.I must say it a plus. But on the other hand I know things tight down there, I am reading and listening still.
@Trevor Johnson: Go suck on Lennox …you are such a fool
if dominica did not give the ok how would they get it to pay me a public officer in axa. i will be priniting that article on the notice board at work. i hope they en fire me. lol lol
@Min Finance Official:
Correct me if I am wrong, Isn’t Anguilla still a dependent overseas territory of England???? If this is so, why is Dominica lending our resources to them. I am sure that England has much more money than Dominica that’s is where they should be going for help.
Dominica has built up a credit amounting to just over EC$113.5Million at the ECCB. For the past two and half years Dominica has not utilised such facillity but has allowed other OECS countries use of these funds.
The prudent financial management of the country’s finances is paying fruit. Dominica is the only OECS country that do not operate an overdraft facillity to run the country. All the country’s operating accounts at the banks are in the black. Hence, there is no need to utilise its credit at the ECCB.
We must congratulate the government.
My people are so ignorant. The article clearly states that Anguilla is borrowing from Dominica’s credit facility at the bank. IT IS NOT OUR MONEY THEY ARE BORROWING. DOMINICA DID NOT LEND ANYONE MONEY. Dominica is merely authorizing Anguilla access to its credit facility that they have access to at the ECCB.
Again? Last time Anguilla vehemently denied that Dominica had lent them money……….hmmmm
oohhh ok it was true wat the p.m was saying,,,,,,, well mr skerrit next time explain ur self better,,, u r an educated man n from one to another english is not that complicated sometimes jus the listeners are
they dont even have money to pay their civil servants an dey borrowing other countries money to do it … dey alwasy paying pple late late late…. anyways that was a good thing to
oh is only when is not election time it can come on the news like that
For emphasis..lol:
“That money is coming from the Dominica credit. The previous administration was doing the same thing. They went to borrow money from the Dominica credit at the ECCB. Dominica has built up a big credit in the ECCB because Dominica is prudently managing its finances,” Hughes said.
Hughes said the only difference is that his government made its intention to borrow the money from Dominica public from the start while the previous administration kept it a secret. Hughes noted that Anguillians only found out about the use of the Dominica credit at the ECCB when the Dominican leader spoke about it during his election campaign.
I guess UWPites are going to say Skerrit bought Hughes too…lmao
“Dominica has managed its finances prudently”. cudos to the Dominican government.Another blow to the egotistic Anguillians.
I knew that the PM would have been vindicated for the good that he did for our fellow brethren
God Bless the PM and God Bless Dominica
But aa just between you and me…as if the journalist said the French man was lying? Warp take it like a man according to WCK
Oh My Goodness!!! Thank God for Prime Minister Skerrit. He is such a blessed man!!!
Once again the prudent fiscal management of the Dominican Government benefits not only Dominica but the wider region as well.
Because of Dominica’s ability to manage resources and obtain external funding for major projects we can continue with our infrastructure development and still be able to assist our neighbors in need.
Our Prime Minister and Minister for Finance, Hon Roosevelt Skerrit has done, and continues to do an excellent. So many other Caribbean countries are struggling and Dominica is thriving. Even the USA and Europe are experiencing the worst recession since the 1930… but in Dominica we are moving forward.
Facts are facts… and no amount of UWP propaganda can change that!
EBEK LOOK STORY…
que interesante!
IS NOT DOMINICA THAT LEND ANGUILLA MONEY, IT’S THE ECCB. WE DO NOT EVEN HAVE MONEY TO GIVE OUR CIVIL SERVANTS A DESCENT RAISE IS MONEY DOMINICA HAVE TO GIVE ANGUILLA???????? WHEEL AND COME AGAIN!!!!!!!!!!!!!!!!!!!