By Caribbean News Global contributor
CASTRIES, St Lucia – At a virtual meeting of the Saint Lucia Party (SLP) Sunday, July 19, political leader Philip J Pierre, reiterated that the promised good times and boastfulness of the government of Saint Lucia $1.6 billion estimates of revenue and expenditure for 2020/2021 is disingenuous.
“Is the prime minister living in an alternate reality to the near economic collapse facing Saint Lucia?” Pierre queried. “Based on the prime ministers unrealistic $1.6 billion budget, there is a financing gap of $560 million. The current deficit is $216.2 million and the recurrent deficit at $342.4 million. This means the overall deficit is $433 million,” Pierre warned. “That is the country the SLP will inherit when we get into government. A country that is near economic collapse.”
The beginning of what we have always cautioned about. CariCRIS lowered the credit ratings of the government of Saint Lucia by one notch to CariBBB– Outlook Stable.
Consistent with this is Wikirating credit rating comparisons (long-term, foreign currency) of Saint Lucia according to the most common rating agencies BBB– Outlook Stable.
On economy and society, Max Webber was of the view that “objective understanding of reality can only emerge out of situations which permit open, endless and free discourse”. He went on to write that “the role of critical theory is to expose those features of social life which make communicative competence unlikely and which distort communication by ideological mystification. Discursive freedom is both the normative standard by which to evaluate social relations and the descriptive statement of how valid truth claims emerge”.