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GRENADA DOING BUSINESS RANKING HAS NOT REALLY IMPROVED

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November 1st 2011, St. George’s Grenada: Former Minister for Finance Hon. Anthony Boatswain says he is shocked that the Minister for Finance will blow a trumpet for finally bringing back Grenada’s Doing Business Ranking to the level it was when the NNP left office in July 2008.

The Minister of Finance has been gloating over the fact that a recent World Bank report has revealed that Grenada has risen from 92nd place to 73rd.  According to Boatswain someone who is ignorant to facts can be easily misled by the Minister of Finance who seems to take pleasure in misleading the nation thinking that Grenadians do not have access to the truth.  The truth is he said Grenada is no better off today than we were in 2008 based on the World’s Bank Ranking.”

Boatswain explained “When the NNP left office Grenada’s rating was 72rd in the world.  Our position he said was reduced to 98th when the NDC assumed office.  Now, after a slight increase in 2011 the NDC has returned our position to where they got it in 2008.”

Boastwain further explained that although St. Lucia’s ranking has dropped it still maintains the highest ranking in the region.  An IMF Press Statement issued following a Country Mission visit to Saint Lucia from August 2nd to 12th, 2011 also presented a positive assessment of Saint Lucia’s economy. According to the IMF statement: “St. Lucia’s economy recovered rapidly from the global crisis, supported by timely policy action by the authorities and a rebound in construction and tourism.  The successive pronouncements by these reputable and well respected international agencies is certainly a firm statement and vote of confidence in the performance of the Government of Saint Lucia in the management of the economy of Saint Lucia in these challenging times.

Boatswain concluded, “It will now leave any normal thinking Grenadian to wonder what is the  problem here in Grenada.  Why is it that other islands in the region are affected by the global recession but is able to manage their economy so well?”

He added, after assuming office the Tillman Thomas administration started a new office of private sector development at an additional cost to tax payers claiming that this will bring more investors and improve the ease of doing business in Grenada.  However, after almost four years in office Grenada’s ranking has not improved neither has the level of investment in the country increase?

Last Updated on Monday, 07 November 2011 15:02