Saint Vincent and the Grenadines faces alleged fiscal crisis

Opposition Leader Dr. Ralph Gonsalves has raised serious allegations regarding the fiscal stability of Saint Vincent and the Grenadines, claiming the government is facing a severe liquidity crisis.

Gonsalves alleged that EC$10 million was withdrawn from the national Contingencies Fund specifically to cover public-sector salary payments for September. While he declined to name his source, he stated that the responsibility now lies with the Minister of Finance to respond to the claim.

Furthermore, Gonsalves disclosed that over $210 million in approved Treasury payments are currently suspended. This backlog of unpaid vouchers reportedly affects various sectors, including local contractors, truckers, and fuel suppliers. Specific claims include:

• The Roads, Buildings and General Services Authority (BRAGSA) is owed $4.5 million for hot mix supplies. • The government is approximately two months behind on $7.4 million in statutory contributions to the National Insurance Services (NIS). • Fuel suppliers are owed an estimated $22 million. • Approximately $25 million remains outstanding to the Eastern Caribbean Central Bank (ECCB).

Gonsalves attributed these issues to what he described as six interlocking crises—fiscal, economic, social, crime, governance, and leadership—noting that current account revenues have fallen nearly 11% below budget estimates.