Finance Administration Act Amended!

The passage of the Finance Administration Amendment Act during the February
15th, 2011 session of Parliament ushered in a new paradigm with respect to the
management of public funds and the practice of Good Governance in Saint Lucia.
It is common practice in Saint Lucia that recommendations made to Governments
stemming from Commissions of Enquiry and other investigative exercises are left
to gather “dust on shelves” with little attention. The Ramsahoye Commission of
Enquiry which was commissioned by the current Government in January 2009 to
investigate a number of matters related to the conduct of the St Lucia Labour Party
Government while in office during the period 1997 to 2006. The scope of the
enquiry addressed matters related to the operations of RDP 001 and 002;
operations of the National Conservation Authority between the period April 2000
to December 2004, financial transactions between the Government of Saint Lucia
and the Royal Merchant Bank of Trinidad & Tobago in relation to the payment of
debts owed to Frenwell Limited. These investigations were also to determine
whether there were losses incurred by the Government of Saint Lucia and whether
there were breaches to the civil and/or criminal law among other concerns.

Saint Lucians within and outside of our nation followed with great interest the
proceedings of the Ramsahoye Commission of Enquiry and looked forward to its
findings and recommendations. The Commission’s Report contained a very
damning account of the conduct of the former Administration under the
stewardship of  Dr. Kenny D. Anthony as former Prime Minister and Minister of
Finance and summed up the entire debacle related to the matters which were
investigated as: Mal-Administration.

The United Workers Party Government is committed to implementing some of the
major recommendations contained in the Ramsahoye Commission of Enquiry
Report. Based on the Amendment to the Finance Administration Act passed on
February 15th, 2011. The Minister of Finance would now be obligated to seek the
approval of Parliament for guarantees to be given by the Government of Saint
Lucia. This would be done through the submission of a resolution with full details
of the amount guaranteed and the object and reasons for the giving the guarantee in
question.

The passage of the Finance Administration Amendment Act of 2011 will provide
the Saint Lucian public with assurances that what is popularly referred to as the
“Roachamel Scandal” would not reoccur within the process of Government
transactions being undertaken by the political directorate. The Finance
Administration Amendment Act is a measure instituted by the current
Administration to ensure that the principles of good governance and responsible
management of our nation’s finances are maintained at all times.

—Government Press Secretary