By Caribbean News Global contributor
CASTRIES, St Lucia – Anticipating the return of the Saint Lucia Labour Party (SLP) to the governance of the country, following the general elections in 2021, political leader Philip J Pierre reaffirmed that his administration “ will put the interest and well-being of the people of Saint Lucia at the centre of its economic policy.”
In consideration of Saint Lucia’s economy afflicted by the misplaced priorities and wasteful expenditure of the United Workers Party (UWP) government, Pierre stressed that the Party recognized the management of the economy during COVID-19 calls for “fiscal discipline, transparency and accountability.”
Significant to Pierre’s fundamental principles towards humanity and socio-economic principles, he added, “in providing for the sustenance and improvement of livelihoods, the protection of the poor and marginalized will be given the highest priority”.
A Philip J Pierre led-administration has outlined an eight-point strategy that will be implemented to accomplish defined economic goals:
- Re-purpose and where possible re-negotiate existing loans
- Make use of available fiscal space for targeted borrowing.
- Revise the scale and scope of Hewanorra International Airport Redevelopment Project;
- Ensure transparency and accountability in the awarding of contracts;
- Enter into meaningful dialogue with Economic Sectors on the use of borrowed funds.
- We will explore new opportunities in the green, blue and grey economy
- Credit Unions and Co-operatives will be facilitated to play a more central role in the financial and economic development of our country.
- We will take measures to improve the business environment and create an enabling environment for foreign direct investment, and the growth of indigenous large and small businesses