In a searing indictment of the administration’s inaugural fiscal roadmap, Opposition Senator James today characterized the 2026 Estimates of Revenue and Expenditure as a “day-one disaster” and a wholesale betrayal of public trust.
During the parliamentary session, James deconstructed a staggering $100 million single-year slippage, warning that the government’s abandonment of fiscal discipline has placed St. Vincent and the Grenadines on an accelerated path toward International Monetary Fund (IMF) intervention.
James opened his analysis by targeting the current account deficit, the primary indicator of a nation’s ability to manage its daily operations. He revealed that the 2026 deficit has exploded to 105million,representing nearly∗∗100 million deterioration compared to the previous fiscal year.
“This is not a marginal slippage; it is fiscal backsliding on a massive scale”, Senator James declared.
He noted that a deterioration of this magnitude is typically reserved for nations facing “total market collapse or catastrophic natural disasters,” such as the sugar market collapse in St. Kitts or the aftermath of Hurricane Maria in Dominica. To witness such a decline during a stable transition of power, he argued, is a clear indictment of the administration’s “fiscal recklessness.”
| Fiscal Narrative (Campaign Rhetoric) | 2026 Estimates (Fiscal Reality) |
|---|---|
| “Risk Aversion” | $105 Million Current Account Deficit |
| “Prudence” | $100 Million single-year slippage from 2025 |
| “Growth” | Massive widening of fiscal gaps |
The Senator further dismantled the administration’s social agenda, exposing “misleading” campaign promises. Chief among these was the pledged $2,000 bonus salary for civil servants, which James revealed was actually paid out at rates as low as $100 to $300.
Furthermore, James challenged the government’s denial of layoffs, citing a formal letter to an “Assessor Assistant” as proof of workers being severed from the housing program. He characterized the administration as “parading as a government” while mired in institutional contradiction—specifically noting that the Ministry of Climate Resilience remains uncapitalized while NEMO is being shuffled between ministries without logic.
James concluded his presentation with a “prophecy of doom” for the nation’s sovereign risk. He predicted that the lack of preparation and the “drag on the economy” created by these estimates make a Supplementary Appropriation Bill an absolute inevitability by mid-year.
“If this reckless trajectory persists, by the middle of this term, this government will be knocking at the doors of the International Monetary Fund,” James warned. He called for an immediate return to transparency and genuine fiscal prudence to protect the ordinary people of St. Vincent and the Grenadines from impending “budgetary distress.”