Resolution to increase overdraft by $15M approved
By Pauline Waruguru
Nevis Reporter, SKNVibes.com
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Opposition Leader Hon. Vance Amory with the Hon. Mark Brantley in Parliament yesterday
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CHARLESTOWN, Nevis – TO cushion the prevailing shortfall of income due to global recession and the temporary closure of the Four Seasons Resort, the Nevis House of Assembly yesterday (Jan. 26) moved speedily to approve a resolution that raises the Nevis Island Administration’s (NIA) overdraft facility at the National Bank from EC$50M to EC$65M.
The resolution, tabled by Nevis’ Premier, the Hon. Joseph Parry, initially met with some objection from Opposition Leader, the Hon. Vance Amory, who submitted that the Premier had projected an increase of revenue in his December 2008 Budget. Amory noted that Parry had also said all negotiations pertaining to Four Seasons Resort had been settled.
The Premier countered however that he never stated that all the negotiations pertaining to the Resort were concluded. Parry said he told Parliament that he would ensure that workers were taken care of. He told Amory that he must quote him within the context of what he [the Premier] had said during the Budget Speech last year.
Parry said that nobody would have predicted in December 2008 what would happen in January 2009.
“If the state of affairs was rosy, as put in the Budget, we would not be here this morning,” the Premier said and reminded Amory that the theme of the 2008 Budget was “Overcoming challenges through persistence and determination”.
The Premier said when Amory had responded to the Budget Speech, he had advised NIA to borrow due to the temporary closure of the Four Seasons Resort which is the major employer in the island.
