Prime Minister of St. Vincent and the Grenadines, Honorable Ralph Gonsalves, in a strongly worded letter has expressed strong outrage over the Eastern Caribbean Central Bank’s (ECCB) decision to spend EC$22 million on building an extravagant official residence for its Governor.
Gonsalves letter describes the expenditure as a “scandal,” criticizing the lack of transparency and insufficient oversight by the ECCB’s internal review mechanisms, the Bank’s Board of Directors, and the Monetary Council.
How could the Prime Minister of St Kitts and Nevis, Dr. Terrance Drew, not notice or question this blatant waste of finances when it is taking place just a stone’s throw away from his own Prime Minister’s residence at the luxurious gated community of Beacon Heights?
Prime Minister Gonsalves letter argues that the Governor’s lavish spending is both irresponsible and out of touch with the economic struggles faced by the people of the region, including rising food prices and increasing poverty. He emphasizes that such opulence is unacceptable, particularly during a time of economic hardship in St Kitts and Nevis and across the region.
PM Gonsalves letter also pointed out that previous ECCB Governors have lived modestly, and he expressed deep personal disappointment in the current Governor, whom he had once admired for his intellect and Christian virtues, including prudence.
Gonsalves letter stresses that the ECCB Governor deserves comfortable accommodation but insists that the current mansion project must be reevaluated. He urges the Monetary Council to take immediate action to prevent further damage to the Bank’s reputation, acknowledging the likely public backlash over what he calls the “Governor’s Palace.
