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Letter: Former minister of finance Nazim Burke was exposed in the Senate
Published on June 18, 2014 Email To Friend    Print Version

Dear Sir:

The last sitting of the upper house of Parliament on Thursday, 27 May 2014, was about the most heated yet.

The government, which tabled a number of bills to facilitate its home grown structural adjustment program with support from the International Monetary Fund (IMF), came in for serious criticism from Senator Nazim Burke, former minister of finance.

Senator Burke, who only 15 months ago held the portfolio of finance minister, pretended not to be aware of the economic woes the country is grappling with as a consequence of the 2007/2008 global financial and economic crisis.

The negative growth the country experienced for three of the four years under his watch and the harsh reality that seventy cents ($0.70) of every dollar collected by government goes to pay wages and salaries and the remaining thirty cents ($0.30) goes to pay debts, thus leaving nothing for healthcare, road maintenance etc.

At the time, Mr Burke and the Tillman Thomas administration made no attempt to find a solution.

The Keith Mitchell-led government has decided to attack the problem head-on from the onset and has implemented the home grown structural adjustment program as a very necessary tool at this time.

It will allow the government to receive soft loans and grants to the tune of $300 million and debt relief of about 50% and to narrow a fiscal gap which stood at $18 million when it took office after the last general elections of February 19, 2013.

In reality, the government collects $35 million and spends $53 million every month.

In his rebuttal to Senator Burke’s accusation and criticism of government’s effort to laying a proper foundation for growth and development of the economy through its call for “shared sacrifice” from all citizens, parliamentary secretary in the prime ministers ministry with responsibility for information, Senator Winston Garraway told the Senate that the measures taken now were presented to Senator Burke while he was minister of finance.

He quoted from a document, which he said was a cabinet conclusion of June 20, 2011, in which Senator Burke got Cabinet approval for the contractual appointment of two firms as financial and legal advisors to the NDC government, in its effort to restructure its debts.

Senator Garraway went on to state that if only Senator Burke and the NDC administration went ahead with the debt restructuring and its own structural adjustment programme in 2011, the country would not have found itself in today’s economic malaise.

Senator Garraway accused the former minister of finance and the NDC administration of gross negligence and recklessness, unprecedented in the post independence era.

Using a simple formula, he calculated what he claims as the cost of the recklessness to the country.

The government senator pointed out that from the date of the conclusion of the general elections is 20 months, multiplied by the $18 million fiscal gap is EC$360 million.

“Of that amount, $110 million, the highest it has ever been was in unpaid claims in the treasury… monies owed to the business community,” explained Senator Garraway.

Senator Garraway said Senator Burke and the NDC administration was “bad business for the economy and citizens had no patience in voting them all out of office and to give the country an opportunity to recover under an NNP Government.”

Julius Gabriel
 
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Comments:

grenadianclass:

Julius Gabriel attempts to re-write history is foolhardy.The entire world know that Grenada is suffering from this severe economic crisis because of the dotishness, recklessness and gross mismanagement of the economy by Keith Mitchell and the NNP.

Julius Gabriel NEVER forget that under the NNP and Keith Mitchell Grenada's National debt went from 340 million to a mammoth 1.8 BILLION dollars and the country didn't have much to show where the monies went.

Keith Mitchell and the NNP borrowed and spent millions of dollars like ' MAD ECONOMIST'

Don't try to shift the blame . The man at the center of Grenada's problem is Keith Mitchell. Even Mitchell knows that he is the problem.

Mitchell MUST GO FOR GRENADA TO GROW.

Julius NEVER forget the millions of loan guarantees Mitchell and the NNP gave to all kind of questionable characters. History won't be kind to Mitchell for what he did and is still doing tothe people of Grenada.

Grenadians have a blight for biting their own hands and that is what they did again when 33 thousand voted for the NNP in the last elections.

The MAD ECONOMIST lied to the people and many unsuspecting folks and some in the business sector who are motivated by greed fell for HIS LIES.

Pastor Garraway as far as the people of Grenada is concern is a none entity. Garraway need to go back to his church and look for repentance from his sins.

BLAME THE PLIGHT OF GRENADA ON KEITH MITCHELL !!!!!

Expose him:

What else can you expect from a man known to lie. It was the same Nazim Burke who told Grenada's media that plans for a project were submitted and they are awaiting a response. Months later in a press briefing with IMF Officials he told the same media that he is in the process of submitting the documents to a financial institution. It is on tape and on youtube, just search youtube for 'Nazim Burke caught lying again'.

Expose him:

What else can you expect from a man known to lie. It was the same Nazim Burke who told Grenada's media that plans for a project were submitted and they are awaiting a response. Months later in a press briefing with IMF Officials he told the same media that he is in the process of submitting the documents to a financial institution. It is on tape and on youtube, just search youtube for 'Nazim Burke caught lying again'.

Julius Gabriel:

Grenadianclass You have to be consistent with your numbers. Nazim Burke said in the senate when the NDC left office in 1995 the National debt was between 372 and 375 million but you are saying here it was 340 million make up your mind or is it as the old saying goes 'a liar has no memory' you also told the senate the national debt the NNP left in 2008 was around 1.7 billion. here again you are being dishonest with the numbers.

You said the national debt grew under Keith Mitchell (and am using your inaccurate figures for the correct figures are part of a public document from the ministry of Finance) by 1.46 billion in 13.5 years: 108 million per year, but the country didn't have much to show where the monies went. Well I am please to point you to where the monies went and I must add as the people are saying the country got value for money. However, before I get there, I want to remind you that the NDC grew the National debt by 500 million in the four and a half years they were in office July 2008 to February 2013 (111 million a year, but there is nothing to show for it.

I agree with you that there is a 'MAD ECONOMIST' But it's not Keith Mitchell who fits this label, it's Nazim Burke. For him to grow the National debt by 500 million in four and a half years and have nothing to show for it, if this is not scandalous, recklessness and gross mismanagement of the economy then I don't know what it is.

Here are some of the areas the national debt under the NNP was spent on.

(1) The excellent Road network throughout the country.
(2) Development of an excellent water distribution system throughout the entire country. The first of its kind in the history of the country.
(3) Rural electrification and the installation of Street lights.
(4) The building of the cruise port and terminal
(5) The building of a New Hospital
(6) The building of New and rebuilding of medical centres island wide
(7) The refurbishing of schools island wide
(8) The building of the New Cricket Stadium
(9) The National House repair program where thousands of citizens receive assistance
(10) Academic scholarship for hundreds of our students around the world. Grenadianclass NEVER forget the students in Mexico during the Swine flu crisis. While our students were obviously stressed and fearful they reached out to the ministry of education only to be told by the former minister of education Franka Bernadine that they (NDC) did not send them to Mexico. How callous, how reckless. To attack the young people of the country seems to have become a hallmark of the NDC. It was Simmons the former minister of youth who said he was happy to dismantle the IMANI a program that was set up to provide skills training for young people in preparation for the job market. NDC really don't like young people

(11) CCC Agricultural Feeder Road Project.
(12) The building of the Bus terminal in St George's

Rebuilding the country after Hurricanes Ivan and Emily
When the NDC said it was going to take about 15 years to rebuild the country (lack of vision and knowledge) Keith Mitchell and the NNP rebuild the country in less than three years. Ivan was September 7 2004. The country lost over 200% of its GDP as a result but by July 2007 Grenada hosted the International Cricket Council World Cup. (Evidence of visionary leadership, an abundance of will, courage and genuine love for the people)

(13) The building of sea defense along the western corridor, the rebuilding of roads and bridges, rebuilding of Schools and medical centres etc.

Pastor Garraway has been one of the credible voices we have in the country he has proven himself as being a true pastor. The people acknowledge this. Even Nazim Burke acknowledges it as well. Have you notice how many times he interrupts him when he is making his presentation in the Senate in an effort to trow him of his point? Nazim admitted how effective he is when he told the senate pastor Garraway came with a big stick and beat him.

Grenadianclass, the government seems to be very focus and is working diligently to cleanup the mess left by Nazim Burke and the NDC and we the true patriots of the country are backing them all the way to succeed for their success is Grenada's success and we all will benefit.

DON'T BE MAD WITH THE PEOPLE FOR REJECTING YOU AND TURNING TO KEITH MITCHELL TO TAKE THE COUNTRY THROUGH THIS TOUGH ECONOMIC PERIOD. THEY TRIED YOU BUT YOU FAILED MISERABLY!!!!


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