ST. GEORGE, Grenada,October 12th, 2012 -- The recent ratings downgrade by Standard and Poor's is further confirmation of the mismanagement of the economy under the failed policies of this National Democratic Congress administration.
The downgrade will further weaken whatever little investor confidence there is in an administration whose tenure has been marked by low growth and high debt.
The prospects for any action in the local economy, already extremely dim before this latest report, has been dampened even further. Recently the New National Party outlined a 10-point agenda to help kick start the ditched economy. However, crucially none of this can happen in an absence of confidence. Indeed, confidence is the fuel that drives any economic revival.
It is now clear that Grenada's economic revival will only begin when the architects of this failed policy are removed from office. Prime Minister Tillman Thomas and Finance Minister Nazim Burke have presided over a failed economic policy, which has increased poverty throughout the island, and engineered a sense of debilitating hopelessness.
The pain and suffering are being prolonged even further by their refusal to call parliament to allow for debate on the economic direction of the country, as Grenada continues to suffer on their short-term selfish political agenda.
We again call on the administration to urgently reconvene parliament to allow for a debate on the state of the economy. But even further, we call on the Prime Minister, who no longer has the support of the majority of parliamentarians, and indeed the people of Grenada, to allow for the nation to collectively decide its destiny.
Grenada cannot continue to be short-changed and held ransom while Prime Minister Thomas and Finance Minister Nazim Burke seek to settle political scores.
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Grenada News