The Borrowing Charade Continues

Minister of finance

In this blog's limited understanding of government business, it still is at a loss to understand the thinking behind all this borrowing when according to this administration our economy is in shambles. The following is an article penned by the "st lucia times.
    "A Sitting of the House of Assembly is scheduled for Tuesday, August 19, 2014 with Papers to be laid and Bills to be presented by the Honourable Prime Minister and Minister for Finance, Economic Affairs, Planning and Social Security, Honourable Deputy Prime Minister and Minister for Infrastructure, Port Services and Transport and Honourable Minister for Commerce, Business Development, Investment and Consumer Affairs.
The following Motions are down for consideration:
BE IT RESOLVED that Parliament authorizes the Minister for Finance to borrow US$750,000.00 from the Caribbean Development Bank for the purpose of financing the clearing and cleaning of affected areas and the emergency restoration of services in affected areas of Saint Lucia following the damage caused by torrential rainfall on the 24th and 25th days of December, 2013;
  BE IT RESOLVED that Parliament authorizes the Minister for Finance to guarantee the amount of EC$5,814,758.70 for the purpose of financing the Bocage to Sunbuilt and Entrepot to Independence City Roads Rehabilitation Works;
BE IT RESOLVED that Parliament authorizes the Minister for Finance to guarantee the amount of EC$12,240,104.80 for the purpose of financing the Resurfacing of the Alan Bousquet Highway (Union to Babonneau) Project;
   that Parliament authorizes the Minister for Finance to guarantee the amount of EC$10,549,804.10 for the purpose of financing the Anse Ger Desruisseaux Road Rehabilitation Works;

Minister of Infrastructure

BE IT RESOLVED
BE IT RESOLVED that Parliament authorizes the Minister for Finance to guarantee the amount of EC$4,818,892.73 for the purpose of the completion of the La Dig (Mocha) and Deville Bridge Reconstruction Project;
BE IT RESOLVED that Parliament authorizes the Minister for Finance to guarantee the amount of EC$4,361,486.96 for the purpose of financing the completion of the Park Estate Drainage Project;
 BE IT RESOLVED that Parliament authorizes the Minister for Finance to guarantee the amount of EC$32,224,598.45 for the purpose of financing the East Coast Road Rehabilitation Project.
 That that Parliament authorizes the Minister of Finance to borrow US$20,000,000.00 from the Export-Import Bank of the Republic of China (Taiwan) for the purpose of financing the St. Jude Hospital Reconstruction Project to restore the capacity and facilitate the healthcare needs of the southern region of Saint Lucia;
Bills down for consideration are:
 Money Services Business (Amendment)
Motor Vehicles and Road Traffic (Amendment)                                                        
Immigration (Amendment)        
Tuesday’s Sitting is scheduled to commence at 10:00 a.m.
The Sitting of the Senate is scheduled for Wednesday, August, 20, 2014 at 10:00 a.m."

 Source: http://stluciatimes.com/article/house-assembly-meet-tomorrow

Editor's note: NB: A total of EC $2,032,500.00 + $70,009,642.00 + $54,200,000.00 = EC$113,242,142 to be borrowed.