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St Lucia parliament to guarantee USD 3.7M, table Invest St Lucia, Annual Report 2021

By Caribbean News Global contributor

CASTRIES, St Lucia – According to a press release from the office of the clerk, parliament of Saint Lucia, a sitting of the House of Assembly is scheduled for Tuesday, December 12, 2023, followed by the Senate on Thursday, December 14, 2023, at 10:00 am, respectively.

The motion for consideration by the prime minister and minister for finance, economic development, the youth economy, justice and national security, reads:

“Parliament authorizes the minister of finance to guarantee an amount of USD3,704,000.00 (the loan) from the Caribbean Development Bank to guarantee a student loan line of credit on behalf of the Saint Lucia Development Bank.”

The aforementioned by an affirmative resolution of parliament, grant a guarantee in accordance with an enactment.

“(a) The loan is repayable in 17 years, commencing on the first due date after the expiry of four years following the date of the loan agreement, or on a later due date as the Bank specifies in writing;

“(b) The repayment of the loan is in 68 equal or approximately equal and consecutive quarterly instalments on the 1st day of January, the 1st day of April, the 1st day of July and the 1st day of October of each year after a grace period of four years following the date of the loan agreement, or on a later due date as the bank specifies in writing;

“(c) The interest is payable at a rate of zero point seven five per cent per annum on the amount of the loan disbursed and outstanding.”

Papers to be laid by the minister for tourism, investment, creative industries, culture and information comprise Invest Saint Lucia and Annual Report 2021.

Bills down for consideration include insolvency, climate change and consumer protection (Amendment).

Notable, the order paper dated December 12, 2023, does not include the Application of United Kingdom Law Bill. The order paper is frequently subject to revision before parliament.

“It is the intention of the honourable minister to seek leave of the House to enable the Bill to go through all the stages at this sitting,” the parliament order paper said.

The high priority of parliament to, “enable Bills to go through all the stages at this sitting and prior” often nurtures questions on intent and normalization of non-public scrutiny.

There is an alternative expression for the continuance of such a practice that was previously disparaged.

The exception is noticeable here, albeit narrow in scope.



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