BASSETERRE, St. Kitts – THE Government of St. Christopher and Nevis is “looking at its options” as it relates to possibly repealing the Land for Debt Swap, which saw some 1200 acres of land across the Federation being handed over to the St. Kitts Nevis Anguilla National Bank for the settlement of government debt.
The St. Kitts Nevis Anguilla National Bank (Vesting of Certain Lands) Bill was passed in 2012 by the Denzil Douglas-led Administration and saw robust outcry from the then Opposition and even some members of the Government’s team, who decried the move as one which goes against the grain of what their ancestors fought to achieve.
Included among those who were against the passage of the Bill was former Minister in Douglas’ Cabinet and current Prime Minister and Leader of Team Unity Dr. the Hon. Timothy Harris who, during the political campaign leading up to the February 16, 2015 General Election, promised to repeal the act.
Today (Oct. 7), during the inaugural session of the Government’s talk show ‘Working for You’ where Dr. Harris was the guest, a caller questioned him on the Land for Debt Swap issue and asked for a status update on what, if anything, is being done about it.
He said about half a billion dollars in debt has been settled because of the Land for Debt Swap which saw the vesting of 1200 acres of land to the National Bank.
“The Government is looking at its options. We have had discussions with a number of people who could provide sound advice about the pros and cons and the alternatives available to this Government in terms of the Land for Debt Swap.
“Of course, because it also impacts upon the future of the St. Kitts Nevis Anguilla National Bank going forward, we need to ensure that whatever we do it is done thoughtfully and that proper consideration is given to the broad ramifications for the bank, for St. Kitts and Nevis and for the people.”
He however assured that the Government would employ the best option available to it.
“What we can say is that the citizens can rest assured that this Government will take what action we considered at the end of the consultations to be in the best interest of the country and we will duly notify the people.
“Indeed there are at least two Cabinet submissions now being drafted. I previewed one yesterday from the Ministry of Finance with regard to the Land for Debt matter. So we are working towards a solution of this matter in a way that the public interest is being protected.”
