Former Prime Minster Stephenson King says Guy Joseph should be held accountable if the supposed comfort letter to Pajoah Ltd. allegedly signed by the Economic Development Minister, committing the government to repaying a loan of US$62 million at 3.59% over a 15-year period for two projects is authentic.
letter which has been making rounds on social media has left many questioning
whether Minister Joseph had the authority to give such a guarantee.
The letter addressed to “Whom It May Concern” from the Ministry of Economic Affairs allegedly bearing the signature of Minister, Guy Joseph, dated 12th November 2018.
The letter offers a commitment by the government of St Lucia to repaying a loan of US$62million or EC$167.4million at 3.5% over a fifteen year period for the L.E.D street lighting project which was already financed by the Caribbean Development Bank and the St Jude Hospital Project.
According to Prime Minister Allen Chastanet during a March 26th interview, he has neither seen the letter nor given authorization for what it purportedly contains.
Former Prime Minister Stephenson King says if the document is proven to be authentic, Minister Joseph was out of line to make such a promise and he should be disciplined.
According to Minister King, only the Prime Minister who is also the Minister for Finance has the authority to commit to such a financial obligation.