On his weekly Plain Talk commentary on Boom Radio, lawyer and commentator Jomo Thomas addressed the nation’s severe financial crisis, commending government officials for their unprecedented public candor while demanding swift criminal investigations into past financial mismanagement and a clear roadmap for economic recovery.
Thomas praised Deputy Prime Minister and Minister of National Security St Clair Leacock for his candid public statement that St. Vincent and the Grenadines is experiencing severe financial strain and is, in local parlance, “broke”.
Thomas described the admission as a sign of political strength and integrity rather than weakness, contrasting it with years of political denial and empty assurances.
The admission follows statements made two weeks prior by Prime Minister Dr. Godwin Friday, who disclosed that a senior official in the Ministry of Finance had warned him that the nation was standing on an “economic precipice”.
With the two most senior members of government acknowledging mounting cash-flow hurdles, Thomas urged citizens to accept the reality of the country’s economic standing.
Addressing political opposition figures who have gloated over the government’s financial disclosures, Thomas dismissed claims that the economic crisis emerged suddenly under new leadership. He noted that widespread poverty has plagued the country for decades.
Citing official assessments, Thomas highlighted that a 1998 Kairi Consultants study found 37% of Vincentians living in poverty. Furthermore, a leaked 2019 poverty assessment revealed that poverty had expanded from isolated pockets to become pervasive across the nation, pushing the figure to nearly four out of every ten Vincentians.
Thomas detailed several instances of past fiscal irresponsibility, calling for formal investigations into how public funds were used:
National Lottery Funds: Thomas revealed that between June and October 2025, officials directed the National Lottery to distribute $7.6 million in funds shortly before the elections. He argued that this expenditure constitutes a clear case of misbehavior in public office.
PetroCaribe Savings: Under Venezuela’s PetroCaribe agreement between 2005 and 2020, St. Vincent saved approximately $750 million ($3/4 billion XCD). Thomas questioned where those funds went before PetroCaribe declared bankruptcy in 2021.
Unconditional Overseas Loans: He referenced disclosures regarding a $120 million USD (~$400 million XCD) Taiwanese loan provided without spending conditions, as well as a 2023 IMF loan of $10 million that was reportedly given away.
Mega-Projects vs. Essential Infrastructure: Thomas criticized the allocation of $700 million for a new modern port—despite Caribbean Development Bank estimates showing the existing port could have been rehabilitated for $10 million USD—and $120 million spent on the Canouan jet port, while basic public utilities like water infrastructure remain neglected.
In response to claims that investigating past officials amounts to a political witch hunt or persecution, Thomas maintained that holding leaders accountable in a court of law is essential for good governance.
Drawing parallels to anti-corruption and forensic audit efforts in Zambia, Angola, and Israel, he argued that public officials who misappropriate state resources must be made to answer to the judicial system.
While applauding the administration’s truthfulness, Thomas stressed that “candor is necessary, but not sufficient”. He stated that telling citizens to tighten their belts is incomplete without a comprehensive strategy to generate revenue and rebuild the economy.
Thomas indicated he will outline specific policy proposals to turn the economy around in his upcoming Friday newspaper column.
