CASTRIES St. Lucia, August 21st 2012 - Sometimes it is impossible to dismiss the Saint Lucia Labour Party, (SLP) government policy- and decision-makers’ inability to apply strategic thought process, to direct Saint Lucia from a framework that is simply recycling finances, social situations and business interests.
Equally, the risk of not having explored by now a format of competitiveness and value proposition is unhelpful. And therefore, in conversations with corporate and like minds, it is difficult to ignore.
The preface for this fits a pattern whereby policy credibility is a distant prognosis, new standards and procedures are perpetual scrambles, the centralization of behind the scenes political and economic power play is a mafia type operation; meanwhile the local economy is in decline.
This scenario must be overcome for a measured process to economic sustainability and survival in a global economic that is not likely to get better soon, contrary to the big promise in Saint Lucia that perceives better days before the next five years.
Clearly, this is wishful thinking and withdrawal symptoms subsequent to a common high. Thus, in light of capital flight and a stagnant economy, inflated borrowing comes naturally by an SLP administration that has deep affection for government spending.
While it is important to understand the political sensitivity to cost containment, the decision is even more risky to outspend Saint Lucia’s capacity to generate revenue.
This is the signature of a future with high debt levels, lower credit rating and inflation.
The preferred option would be to restructure a deficit economy, instead of paying more attention to padding priority constituencies and preparing for legal challenges of their own making, both locally and internationally, Grynberg of course!
Therefore, where will the money come from? The word is that salaries, wages and allowances up for negotiation are down for a rude awakening.
The writing is on the wall. But then, who will make the cut, seven months into a relationship?
But still, the approach to giving money in an attempt to solve social problems and to generate economic activity is a false predicate that provides nothing towards the dynamics for trade skills and entrepreneurial development, innovation and competiveness that would serve to attract commerce and industry, to drive a stagnant economy.
The hypothesis to hope for better days through handouts and high debt is disastrous; for the simple fact that hope is not a strategy.
The preferred way is a system of established socio-economic development and long term public policy goals, with the discipline of the corporate environment to set new benchmarks.
The current trend requires dealing with global economics that limit bureaucracy and reform taxes, the engagement of citizens to establish programs and a common principle to breathe new life to entrepreneurs, business and capital investment.
But, this entails a more progressive way of thinking and performance level, with trust and commitment to prioritize achievable development goals in preparation for future demand in the market place such, as commodities, global travel, knowledge transfer, a repatriating Diaspora and offshore investments.
After all, let’s face the obvious. Freedom and free markets, confidence, innovation and creativity are great attributes that over the years have liberated civilization from economic and political troubles.
That’s why there is no need to be confused on how to turn Saint Lucia’s stagnant economy around.
It is a matter of removing the ideology blinders to commence development strategies that will turn down the debt and escalating borrowing.
Then there is need to give people the tools, and create the conditions island-wide to empower the development of products and services for future markets that benefit long-term mutual interests, to grow the economy at a rapid rate.
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