FEBRUARY 03rd, 2007
Time to rise up!!!
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EDITORIAL

The country's finances continue to be hemorrhaged by Keith Mitchell and his New National Party (NNP) government.

The latest embarrassment for Grenada came in a case in New York that is officially listed as: The Export Import Bank of the Republic of China (ROC) on Taiwan v. Grenada.

The NNP will not tell us that it has consented to pay Taiwan nearly 60 million E.C dollars in loans that it had contracted since coming into office in June 1995.

The regime tried to keep this secret away from us as long as humanly possible but the world is now a global village and information travels as fast as lightening and at the instant drop of a hat.

GRENADA TODAY was able to unearth information from a court in New York which shows that the country is indebted to Taiwan to close to EC$60 million for loans that were contracted for the badly built first national stadium, ministerial complex and other projects.

While Prime Minister Mitchell was boasting that he had borrowed $100 million U.S from a bank in Miami to help pay off the national stadium loan and others, the truth is now coming out to further embarrass him.

The documents in that court in New York would show that the NNP owes Taiwan millions of dollars for that stadium which collapsed long before the high winds of Ivan even reached Queen's Park.

This newspaper calls on the Prime Minister to come clean and provide concrete proof and evidence to the people of this country that the government had the necessary Parliamentary approval to borrow these millions in the form of loans from Taiwan.

This issue has serious legal and political implications for Grenada as a country and the Prime Minister and his Cabinet members who are bounded by the doctrine of Collective responsibility.

Perhaps, the time has come for the people of this country to bring an end to the life of the NNP regime through the democratic process.

The people should consider using all the necessary means at their disposal that is available in a democracy such as street protests to bring an end to the continued bleeding of the finances of Grenada by this untrustworthy group now occupying office.

This is not a call for the violent overthrow of any government like what took place on March 13, 1979 but for the people of the Tri-island State of Grenada, Carriacou and Petite Martinique to take back their country from that Gang in the Botanical Gardens.

Our call is for the National Democratic Congress, Grenada United Labour Party, People's Labour Movement (PLM), trade unions, churches, private sector bodies and civil society grouping to take a firm and decisive stand and send the message loud and clear that enough is enough.

This is not about just getting rid of Keith Mitchell and NNP but about saving the little that remains of Grenada for future generations that would be saddled by debts that can leave us as a failed State for centuries to come.

This is an urgent cry and plea from GRENADA TODAY for those who love this country to mount a rescue mission to save Grenada from the present course of financial destruction by  NNP's massive borrowing and madness.

The time has come for us to unite on this our 33rd anniversary of our independence to take back our country and help steer a safe passage for the generations that will inherit this little rock after all of us would have departed.

The current misfits in office have taken the national debt from the manageable sum of EC$373 million in 1995 to well over $1.5 billion dollars some twelve years later.

And what is sad is that the NNP is not telling us the truth about the amount of loans that they have entered and committed this country into during their tenure in office. This newspaper has reasons to believe that Finance Minister, Anthony Boatswain was not telling the nation the truth about the monies given to Grenada for the stadium and other projects on the popular, "Sunday with George Grant Programme".

The minister informed us three weeks ago that there was an agreement for Grenada to take monies from the Export-Important Bank of Taiwan and for the ROC government to repay the sums. How can we rely on the words of any minister in the current administration given the many lies told to us in the past by some of them including Deputy Prime Minister, Gregory Bowen on the Oil & Gas  deal with Grynberg?

When Mr. Boatswain was making this statement on the radio programme, he must have been aware of the commitment that was being given by Grenada's legal representative to the court in New York hearing the case involving the Bank from Taiwan.

The minister was making us believe that Taiwan had agreed to give us free money for the stadium under a special facility but the truth of the matter is that the government had entered into a full blown secret loan agreement with the bank.

The legal representative for NNP in the matter told Judge Harold Baer in a letter dated, October 25, 2006 that, "Grenada submitted a proposal to the Bank with respect to the restructuring of its loans. Grenada has always acknowledged its obligations to the bank and looks forward to executing settlement... to bring closure to this matter".

What could be a much more clearer statement about Grenada and its loan commitments to Taiwan!!! This is not free money from Taiwan but monies that we have to repay over a period of time. Our suspicion is that the NNP broke off diplomatic relations with Taiwan as part of a con game that was being played out by those posing as a government in St. George's.

The regime was borrowing as much as it could from Taipei and clearly had no intention of repaying these loans.

It was also hiding these loans from groups such as Standards and Poors, IMF and World Bank in order to fool these institutions about Grenada's creditworthiness.

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