Prime Minister Roosevelt Skerrit has called for NEP naysayers to apologize for harsh criticisms. Since its inception the NEP has garnered its fair share of critics foretelling its failure however the programme has managed to stay afloat. The Prime Minister during his budget address Tuesday, stated that the programme is far from winding down and is expanding to accommodate a growing number of enterprising young people. He says those who spoke ill of the NEP, should have the conviction and the courage to apologize during the debate to follow the budget address. Meanwhile UWP Senator Dr. Thompson Fontaine refuses to apologize for his criticisms as he believes that the money used to fund the NEP Programme can be used in another manner to create employment.
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UWP Leader believes Government is exposing Dominica’s Financial institutions to De-Risking7/27/2016 Leader of the United Workers Party Lennox Linton believes that the manner in which the Citizenship By Investment Program is being run is exposing Dominica's bank to the possibility of de-risking.
On May 23rd 2016, the banking sector in the Cayman Islands and elsewhere in the Caribbean were forced to accept new ways of working in the financial sector, including sharing costs and services, in order to survive in the current climate of de-risking, according to US industry consultants that visited the jurisdiction recently. Linton stressed that the DLP Government is not transparent enough in handling such a sensitive program. President of the Association of Music Professionals McCarthy Marie says the musicians and artists, who attended the two workshops facilitated by AMP, have reported improvement in their musical careers.
Marie says he is proud of the participants and looks forward to working with them again in the future. UWP senator says the Budget Address indicates the International community has abandoned Dominica7/27/2016 UWP Senator Dr. Thompson Fontaine believes that based on the budget presented by Finance Minister Finance Minister Skerrit, it appears that Dominica has been abandoned by the international community.
He says it is evident that revenue which was once generated through financial contributions from these countries, has now been replaced by proceeds from the economic citizenship program. DLP Government admits the national debt stood at $1.1 billion at the end of the2015-2016 fiscal year7/27/2016 During his national budget address yesterday, Prime Minister Skerrit admitted that Dominica’s national debt stood at $1.1 Billion, at the end of the2015-2016 fiscal year. He said “At the end of fiscal year 2015/16, total public debt stood at $1.1-billion, consisting of external debt of $776.4 Million and domestic debt of $278.9 Million”.
He also revealed that central government debt accounted for $883.8 Million, of which $654.8 Million is external debt and $229 Million is Domestic debt. According to him, government guaranteed debt was $171.5 Million, which represents approximately 16.3% of the total debt portfolio. He said “These guaranteed debts are held by statutory institutions and agencies, with the AID Bank holding the largest share of 55%, followed by DOWASCO with 27%”. He added that as at 30th June 2016, total debt to GDP was 77.8%, while government debt to GDP was 65.2%. “Debt service to current revenue for the public debt was 22.6%, central government debt service to current revenue was 16.5%”. He indicated that during fiscal year 2015/16, new borrowing of $23.5 Million provided by the International Monetary Fund (IMF), was disbursed. Mr Skerrit said “This loan was for rehabilitation and reconstruction, due to damage caused by TS Erika. Government also re-issued quarterly treasury bills of $20 Million on the Regional Government Securities Market. Disbursements during the period under review, was $53.6 Million of which $45.5 Million was central government debt, and $8.1 Million was government guaranteed debt.” Mr Skerrit said the larger part of central government debt is held by multilateral creditors, with the Caribbean Development Bank holding the largest share, followed by the World Bank. Meantime, the Ministry of Finance will receive the highest allocation of $134.9 Million of the recurrent budget, whilst the Ministry of Education & Human Resource Development will receive the second highest allocation of $68.0 Million, or 15.3%. Finance Minister Roosevelt Skerrit revealed during his 2016/2017 national budget address, that Senior Citizens here will benefit from a 50% increase in the Non-Contributory Social Allowance, for persons 70 years and older. Effective September 1st 2016, these persons will now receive $300 a month. Mr Skerrit says this is being funded through the Citizenship By Investment Program. When this allowance program was first introduced in 2014, senior citizens received $200.00 per month. Meanwhile, Skerrit says he will be meeting with the Board of Directors of the Dominica Social Security, to create a mechanism, whereby the lower tiers of social security pensioners, will be brought to no less than $300 a month, and to give an additional increment to pensioners receiving between $300 to $500 a month.
And PM Roosevelt Skerrit is now complaining that partisan political differences are being taken to extreme levels in Dominica. He described this as unfortunate saying "It's the country and not the politicians who are the losers in this." According to him, too often, persons portray Dominica as dangerous, as there are too many negative things being said. Skerrit says citizens need to look at the positives and build on them.
He says Dominicans cannot allow those opposing him and his party, to tarnish Dominica's name. DLP Government says a Geothermal development bill will be taken to parliament in upcoming months7/27/2016 Dominica's Energy Minister Ian Douglas now says the DLP Government will be taking a Geothermal development bill to parliament in upcoming months.
Douglas says the bill will provide guidelines for any future partners in the country's geothermal development, and upon which they can pursue the production of geothermal energy on the island. He says several international players have indicated their interest in coming on board to invest in geothermal energy development. Seven (7) potential contestants have reportedly been selected for the Miss Dominica 2017 pageant7/27/2016 Seven (7) potential contestants have reportedly been selected for the Miss Dominica 2017 pageant.
That announcement was made by Representative of the Dominica Festivals Committee, Simeon Joseph. Joseph says the seven were selected by a panel on Saturday, from a field of ten, describing it as a " tough call". He described the ladies as outstanding, interesting and talented. Dominica Association of Music Professionals announce an upcoming course for Artistes and Musicians7/27/2016 President of the Association of Music Professionals, McCarthy Marie, has announced a new course entitled 'Business of Music', for Artists and Musicians in Dominica, carded for September 12, 2016. Marie says the purpose of this course is to teach participants the business aspect of the music industry, which he deems to be extremely significant. Marie says more information regarding details of registration for this course, will be given at a later date.
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