The opposition National Democratic Congress (NDC), as the new government of Grenada, has absolutely no intention of introducing a structural adjustment programme (SAP), the party's finance spokesman has affirmed.
Nazim Burke says that claims by the ruling New National Party (NNP) that the NDC is planning a structural adjustment programme for the country is nothing but election scare tactics.
"We must say first of all that we have no intention of introducing any new structural adjustment programmes. We must make that very clear from the very outset," said Burke, an economist and lawyer. "This choice of language and attitude on the part of the New National Party is intended merely to scare the population away from voting for the NDC."
Burke, the Public Relations Officer of the NDC, and its candidate for St George North-East, said because of the "negative political connotations'' of the term "structural adjustment programme,'' the International Monetary Fund (IMF) and other international financial institutions have changed the name SAP to Poverty Reduction and Growth Facility (PRGF) programme.
"Countries that are in economic crises, of one form or another, sign on to that programme, in the same way they would have signed on to the structural adjustment programme," said Burke. "So what we have is a new name for an old programme."
Burke said that two years ago the NNP government signed on to a PRGF programme, and the NNP administration is refusing to admit to the people that Grenada is in "the throes of a structural adjustment programme."
The only difference, he added, is that it is called today a Poverty Reduction and Growth Facility programme. "I think it is very important that the public understands this," said Burke.
He explained that when the NNP signed on to the PRGF or new SAP in 2006, Grenada was required by the International Monetary Fund to comply with several conditions laid out by the IMF as a prerequisite for receiving certain cash advances to assist with fiscal relief.
"If you look at the 2006 budget statement that was given by then Minister for Finance, Anthony Boatswain, in there are over 20 conditions that they must comply with," Burke said. "Those included the implementation and collection of the National Reconstruction Levy as a condition that was imposed on them by the IMF. It included the Eastern Caribbean Central Bank being allowed to come and do onsite inspection of banks, including Capital Bank."
The IMF advanced US$2.6 million under a two-year US$16 million PRGF programme. However, the government failed to comply with most of the IMF-stipulated PRGF conditions, said Burke.
"As a result," Burke said, "the IMF has decided to withdraw the remaining US$13.4 million that the government would have been entitled to, had it complied with those conditions that had been imposed as part of the structural adjustment programme."
Reprinted from Caribbean Net News
caribbeannetnews.com
good morning ms mabel or is this your ghost name, my dear tell me what have you yourself got to offer, come on lets put our cards on the table,it seems that its people like you who have not got a clue about anything thing you just sit around and write rubbish you may know that i as a grenadian have seen several governments come and go in grenada and the only one who i think had put grenada and her sister isles first is the late mr maurice bishop all the rest just line their pockets at the expence of the poor people of grenada so come on tell me which side of the fence are you sitting on are you one of thoes people who says i am alright jack,so come on show your colours ms mabel,or are you really mr mabel in disguise.
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By: Gabriel 7/4/2008 4:56:04 AM
Mabel,sorry you drank the cool aid too.You havenot disputed anything i wrote, other than open you mouth with your opinion.That is all good,however the facts are there to challenge.
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By: Core Grenadian 7/3/2008 9:54:11 PM
Core Grenadian
You need to return to Grenada, because you are talking nonsense continuously. You have nothing whatsoever to offer to Grenadians except hatred and wickedness. The same goes for Gabriel.
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By: Mabel 7/3/2008 5:51:19 PM
To Irate and Pat it's only a figure of speech in my comments,you guys take it how you like i live in Grenada. Do you two.
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By: Hopefull 7/3/2008 5:45:08 PM
Election fever is in the air.The ruling party under Mitchell has been acting as Grenada belongs to them.Plenty of name calling,as school children,law suits,took a briefcase of money from a crook.What is so disgusting about that,he has the nerves to say "is me dam money and ah wish it was more." This is so troubling and in your face,will make Gairy look sane.I hear progress,where? the PM has Questionable dealings from day one and where there is smoke,there must be fire.The service to the country stinks from the core.cost of living is to the roof,crimes are high,projects started and cannot finish,because there is no accountability.The PM spends Thousands of dollars to get people from abroad to come and vote for is party.That is insane,when people are struggling here,they can buy thier own tickets to come and vote.I am really fed up whith the current situation.Plenty people donot see those things,because just to survive is hard.As the saying goes teach me how to catch a fish,donot always give me one.Come election day please vote for a change.People donot like change because of the unknown,but we have to try it.Where ever he stops the next government will start.Hope they learn from the past and reconcile and get everyone involve.No time to discriminate,you wiil have the same faith if you do that.Grenada belongs to the Grenadian people let us get it back.Let common sense prevails, and i am beggng for everyone to be included regardless of party support.
Pgs
