The Government of St. Vincent and the Grenadines has invested over 500-thousand dollars in the Regional Airline LIAT, so that the airline can continue to service travelers throughout the region.
So says Prime Minister Dr. Ralph Gonsalves, who is also Chairman of the Shareholder Governments.
Prime Minister Gonsalves told Reporters on Tuesday that the shareholder Governments are also seeking additional resources from the Caribbean Development Bank.
The Prime Minister said LIAT has to be restructured in a comprehensive manner and the restructuring has been taking place.
1 thought on “Dr. Ralph Gonsalves On Financing LIAT”
St. Vincent just has to come up with EC$592,000 (US$220,000) of taxpayer money, but who’s counting?
With US$220,000 representing St. Vincent’s 11.83%, the next step is to demand that Barbados come up with US$935,000 (BD$1.87 million) as their 50.3%, Antigua US$558,000 (EC$1.5 million) and Dominica US$18,000 (EC$50,000) for their less than 1%.
Simple mathematics tells us that LIAT shareholders are looking for about US$2 million in cash to push LIAT through the next stage of development – which would be about as effective as planting a sand-filled plastic bucket on the shoreline to stop the Atlantic washing ashore.
CLOSE IT DOWN!!
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