Retired banker Everett Christian says the Antigua Labour Party administrations’ habit of borrowing money and incurring debt without the public’s knowledge, or securing parliamentary approval, is a bad practice that must be stopped.
Christian says this persistent behaviour is a poor way to run the government and to conduct business. Further, it can erode the confidence that financial institutions need to have in an Administration.
During the tenure of the United Progressive Party, this was not the practice, Christian states. In fact, he adds, policies and legislation were put in place to set standards for how the Government should function. However, the sitting Administration is breaching all of these measures, he says.
In the current circumstances, the former banker says, any new administration will be faced with certain difficulties, since it will not be aware of the true financial picture and borrowings of the Government.