Finance minister to present Treasury Bill in Parliament

PM Skerrit is finance minister

The Treasury Bill will be brought forward by Finance Minister Prime Minister Roosevelt Skerrit when the House of Assembly resumes next week.

The Bill seeks to authorize the borrowing of money for the purposes of Dominica by the issue of Treasury Bills.

The Bill permits the utilization of the Eastern Caribbean Securities Market infrastructure and use of the Eastern Caribbean Securities Exchange, the Eastern Caribbean Securities Depository and the Eastern Caribbean Central Securities Registry, to issue and trade Treasury Bills.

Parliament is expected to commence from 9 a.m.

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  1. Cesare Bonventre
    March 26, 2010

    Allowing the US Federal Government to borrow money eventually led to the collapse of America

    US Debt:

    102 Trillion in unfunded SS & Medicare liability
    67 Trillion plundered from other trusts (See Hodges report)
    12 Trillion given to private bankers this last year

    So every family in America owes nearly 2 million each to this government borrowed money

    The outstanding sum of counterfeit derivatives is: 1.5 Quadrillion dollars

    I suggest the Government of Dominica be careful not to fall the same way the Americans did…

  2. stupes
    March 26, 2010

    If you guys don’t understand what a Treasury Bill is or its role in our fiscal development just shut up! I fed up with small minded Dominicans and their political biases…on the talk shows, the streets, work, church, everywhere…Why dont we just take a moment to educate ourselves before placing a comment?!!As the saying goes…”it is better to be thought of a fool, than to open your mouth and remove all doubt”.

    I think that this is a great initiative on the part of our government, since it will allow them to access funds at rates less than normal commercial rates. This also presents an opportunity for the ordinary man to invest in something other than a bank account with little risk.

    March 26, 2010

    I guess the majority of Dominicans do not understand this language. Could DNO seek further clarification and present this news item in a much simplier manner?

  4. Celus
    March 25, 2010

    Hardly any comments on this subject ,. which is is important to Dominica’s fiscal health.That speaks to the level of discussion in Dominica’s politics

  5. D V T
    March 25, 2010

    at 9 am when?

  6. wonderfull
    March 25, 2010

    he is thinking of the possible outcome of of the court decision in June, which does not look good for him”!!!!!!!!! hmmmm. oh boy…..

  7. Gary
    March 25, 2010

    When I’m hearing that Government is going to pass a Treasury Bill, that sounds the red flag. It tells me the Government is short on cash, and needs money, there would be no other purpose as to wanting a Treasury Bill passed other than the Government is short on cash, and the only way for the Government to raise or get the money they want is to pass a Treasury Bill. Treasury Bills are a form of short-term Government borrowing, the Government is sending us a message that it is short of money, remember it needs money to carry out some of it projects and business that was promised during it ‘s campaign for reelection.

    I’m not saying that what the Government is doing is necessarily a bad thing, for sure, it is a better way of raising money for short term goals when cash is needed rather than going to the IMF. What it tells me is that when a Government is anticipating moves to borrow money things are not good as they say it is.

  8. March 25, 2010

    I want Edo to boycot this one, cant wait for a by-election,

  9. only
    March 25, 2010

    I can tell the Zoellick exercised his influence while he was here over a week ago.
    Where else would the PM get this idea. The money will go to the IMF. The T-Bills will be virtually worthless, just like they are in the US.
    They are trying to implement the same set up as in the U.S. with Goldman -Sachs and the elite. More derrivitives in the future and a collapse with worthless paper money..
    But what would you expect from the former President of Goldman-Sachs, Zoellick.
    Skerrit is an easy sell. This is the beginning of a set up that DA doesn’t need.

  10. Wall Street
    March 25, 2010

    Guess who is going to buy out these treasury bills and essentially Buy out Dominica? I wonder which one of our nation’s Big Brothers will be looking to cash in and put the Commonwealth of Dominica in debt, through the purchase of these Treasury Bills… See how thick and fast seatings of parliament are coming!
    One Party State. Soon to be Sold!

    • Anonymous
      April 5, 2010

      skerrit nor

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