By Michael Bascombe St. George’s, – Honourable Nazim Burke, who was a senior Ministry of Finance technocrat in Grenada’s leftwing People’s Revolutionary Government of 1979 – 1983, has brushed aside suggestions that he is behaving like a conservative now that he is charge of the country’s purse strings. Mr. Burke, Minister of Finance and Economic Development, has described his approach to managing the nation’s finances and the economy as “cautious,’’ according to a report in the monthly *Barnacle *newspaper. “In a time like this, you really have to be fairly certain about what you do,’’ Mr. Burke is quoted as saying. “We do not have the space to make very serious mistakes. Our debt situation is not good. I don’t think it is uncommon for a minister for finance to be cautious.’’ Hon. Burke, who served briefly as Finance Minister following the collapse of the Revolution with the assassination of former Prime Minister Maurice Bishop in October 1983, said he is combining caution with prudence. “The element of caution is inextricably connected with the prerequisite of prudence,’’ he said. “Prudence necessarily involves a measure of caution. We cannot be reckless in the assignment because the resources that we have do not allow us the space to make up if we did something that was terribly wrong.’’ Some Grenadians, anxious to see the launch of a major infrastructural initiative that could provide immediate jobs, have criticised Mr. Burke and the government for not pursuing a US$100 million concessional loan from the Chinese government for a hotel project in South St. George’s. Arrangements for the project were started before the NDC government came to power by a private group called Cinnamon 88. “They are still trying to raise money; they are evidently having some challenges raising money,’’ said Finance Minister Burke. “We have met with them, we have discussed with them. If we can get private developers – working individually or collectively – to get this project off the ground, that will be our first choice.’’ Government’s “Plan B’’ for the project is to take the Chinese loan of US$100 million or EC$270 million, Mr. Burke said. “Government would not seek to borrow an additional $100 million if there is really no pressing need to do so,’’ he stressed. “Remember at the end of the day, you have to service the loan.’’ Mr. Burke said government has to be sure it is doing the right thing, and must borrow an amount that it can “comfortably’’ service. He explained that “if we can get a very concessional loan from China and we can put that to productive use to increase the room stock, to create jobs and to expand the tourism and hospitality sector, then it would be in Grenada’s interest to do so.’’