A LONG-STANDING FORMER Minister of Finance says the economic problems facing the island are just too big for a home-grown solution.
Former Prime Minister Owen Arthur, speaking in the House of Assembly last evening in a presentation which got rapt attention from both sides, urged a programme backed by a credible outside institution like the International Monetary Fund (IMF) or the Caribbean Development Bank.
In his swansong reply to a Budget as a member of the House of Assembly, Arthur, now an Independent MP, told a hushed Chamber: “The fund has been created to be the lender of last resort.
“If ever there was a time when we were at the stage of last resort, having exhausted virtually every source from which we can get resources to support the balance of payments (and) to support public activity, that point is now.” (GC)
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