Caroni Central MP: Disclose loan arrangements

MP for Caroni Central Arnold Ram. -
MP for Caroni Central Arnold Ram. -

Caroni Central MP Arnold Ram is calling on government to disclose the terms of loan agreements made with the Inter-American Development Bank and CAF - Development Bank of Latin America as mentioned in the Cabinet sub-committee report on the Water and Sewerage Authority (WASA) laid in Parliament Friday.

At an Opposition media conference on Sunday, Ram questioned whether the proposed restructuring at WASA was as a result of the terms of these loan agreements.

He noted that the report said that the sub-committee “ had valuable engagement with the President of the National Water Commission of Jamaica and senior officials of the Inter-American Development Bank and CAF - Development Bank of Latin America. How did these companies become stakeholders? You must tell us on whose invitation those entities are there.”

“The PNM has been saying that the UNC will be bringing IMF to take over TT, but you have to tell me what is the purpose of the IDB in this loan arrangement? Are they not telling you what the structure is? Two weeks ago, World Bank told TT had to cut public servants by 33 per cent. It could be the IMF, the IDB, World Bank, they are directing the affairs of TT. Also understand there’s another loan agreement between CAF, the terms of which have not been disclosed by this government in their subcommittee report. What are the interest rates to be charged, what is the payback period, who is the guarantee for this loan?”

Ram also expressed concern about whether the proposed restructuring of WASA was being put into effect too quickly.

“The statement said the public utilities ministry will soon submit for Cabinet’s consideration a blueprint for an Integrated Water Management Programme for the long-term sustainability of the citizens of TT. If you are submitting an integrated management programme, don’t you think much of it will depend on implementation, and that implementation, WASA or whatever structure is at WASA will be a major stakeholder to realise that programme? So why proceed to restructure without knowing what structures are required by the blueprint of the programme?”


"Caroni Central MP: Disclose loan arrangements"

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