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The first Taiwanese Loan to
Grenada in the amount of Ten Million U.S. Dollars was
taken by the H.A. Blaize TNP Administration
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The Ten Million U.S.
Dollars was actually received and utilized by the NDC
Government when it first came into office in 1990
because the TNP had then lost the election in 1990.
Listen to the present Minister of Finance Hon. Nazim
Burke try to mislead the public into believing otherwise
CLICK HERE
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When NNP took office in
1995, there was a serious need to upgrade and develop
Grenada’s physical infrastructure
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NNP Administration
therefore borrowed an additional U.S. Six Million
Dollars which was used to build the first national
stadium construct roads, build and refurbish schools,
health care facilities and community centers throughout
Grenada, Carriacou and Petite Martinique
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The NNP administration was
repaying the Taiwanese Loan on a regular basis until
2004 when Hurricane Ivan virtually destroyed Grenada and
crippled its economic base
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Grenada then sought to
restructure its loan with all of its creditors including
Taiwan but unlike our other creditors Taiwan did not
co-operate with this proposal
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In 2006 Taiwan filed a suit
in a U.S. Federal court to recover the entire balance of
the loan
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Grenada appeared in court
and answered the Taiwanese claim. However Grenada had no
defense to Taiwan’s claim. Grenada could not deny that
it had received the loan neither could Grenada claim
that Taiwan had breached any material term or terms of
the loan agreement
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With no affirmative defense
and no issue to litigate the court had no choice but to
issue a summary judgment in favour of Taiwan. Government
had from July 9, 2008 to present to comply and they did
nothing.
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The Minister of Finance
told a blatant lie when he told the nation that a
default judgment was issued against Grenada because
Grenada did not appear to defend the matter in court.
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After the summary judgment
was issued by the court Grenada attempted to negotiate a
repayment schedule with Taiwan but before any progress
was made in that regard, the general elections were
called and NDC won the election
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While the NNP
Administration had just two years and two months to
negotiate a post judgment settlement (May 2006 – June
2008) the NDC had over three years to do so (July 9,
2008 – present) and they did nothing
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During its election
campaign NDC told the Grenadian people that NNP was
mismanaging Grenada’s economy and NNP was borrowing too
much and that if NDC should win the election it would
reduce the national debt and better manage the country’s
finances, among other promises. Now after three years of
gross negligence and gross mismanagement of Grenada’s
affairs by the NDC and after plunging Grenada into the
worst economic plight in its history, NDC is trying to
lay blame on NNP for their disastrous failures
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NDC must know that
Government is a continuum and any incoming Government
must take responsibility for any debts or other
liabilities left by the outgoing or previous Government
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NDC came in and met New
Hospital, National Stadium, A fine network of good
roads, Ministerial Complex, Good Schools and Health
Clinics ETC. which they are now enjoying but they don’t
want to pay the loans that helped pay for all these
facilities
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When NNP came into office
it met hundreds of millions in debt left by previous
Governments. NNP accepted these debts and liabilities
and serviced them. NNP did not try to blame the outgoing
or any previous Government for that matter
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Case in point the PRG took
the lands of former Prime Minister Sir Eric Gairy
without paying him for it. When NNP took office the
court ordered that NNP pay for Gary’s land taken by the
PRG. NNP did so without blaming the PRG. Also, all
persons who were wrongly imprisoned and lost earnings
during that period compare
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NDC is blaming NNP for
re-establishing diplomatic relations with The People’s
Republic of China over Taiwan yet NDC is enjoying all
the benefits that came about by re-establishing
diplomatic relations with the PRC
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If NDC is so unhappy with
NNP’s decision to re-establish diplomatic relation with
The People’s Republic of China then why don’t they bring
back the Taiwanese – NDC wants to eat its cake and still
have it
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Now that the Grenadian
people are saying that NDC was grossly negligent by not
taking responsibility for the Taiwanese loan, NDC tried
another lie to confuse the Grenadian people
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NDC is now saying that the
People’s Republic of China gave the NNP Administration
some Fifty Million Dollars (US $50 million) to repay the
Taiwanese Loan. What a blatant, wicked and malicious
lie.
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NDC is basing its lies on
some correspondence from A Keppel Foundation that was
acting as a Lobbyist Group to encourage Grenada to
re-establish diplomatic relations with The People’s
Republic of China
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These were only proposals
to entice Grenada to go with The People’s Republic of
China than stay with Taiwan. These proposals were never
considered by The People’s Republic of China in the
final negotiations
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There is an official
agreement that contains all the essential terms and
conditions of the relationship between The People’s
Republic of China and Grenada – that’s the only
officially binding agreement between the two countries.
That agreement is in the Ministry of Foreign Affairs.
The Prime Minister has a duty and obligation to disclose
the contents of this.
