Lovell suspects that Browne Administration’s attempts to borrow $540 million is a scheme to fund upcoming elections
Any borrowings attempted by the Antigua Labour Party Government at this time, just ahead of the General Elections, would be taxpayers’ money and should not be used to fund a political campaign, says Harold Lovell, Political Leader of the United Progressive Party (UPP).
Prime Minister Gaston Browne has said his Administration is looking to borrow $540 million, even though the country’s debt stock is already astronomical – reportedly standing at $2.5 billion.
Lovell refers to the intent as obscene, saying it is nothing but a scheme to borrow money to win the election. And, in addition to our grandchildren being saddled with these debts, he says, no clear plans have been articulated on exactly where the monies will be spent.
Meanwhile, Lovell says that a United Progressive Party Administration will seek reduction on many of the country’s outstanding loans through renegotiation and consolidation.