Where did the Browne Administration spend loan monies, asks Bowen, noting that a forensic audit will be needed to trace funds
The United Progressive Party (UPP) Candidate for St. Phillip’s South is shocked that the amount of money racked up in loans by the Gaston Browne Administration cannot be seen on the economic, infrastructural or social landscape.
Sherfield Bowen says the people are struggling and the country’s infrastructure is failing, and it is unconscionable that multiple loans have been taken out while these issues have remained neglected.
He says the amount of money borrowed should have created a big spin-off, leading to the opening of new businesses and significantly boosting the economy.
Bowen, who is an attorney-at-law and a certified accountant, says any new administration will face a difficult task in determining how the loan funds were spent, and is likely to meet a chaotic financial situation.
Therefore, a UPP Administration will have to commission a forensic audit to locate these monies, he says.