Prime Minister Skerrit has called out the Parliamentary Opposition for not paying attention to developments since the collapse of BAICO and CLICO. He made this observation during a sitting of the Parliament on June 27, 2016.
Read PM Skerrit’s observations here:
I have listened to the Members of the Opposition and it tells me clearly, in large measure, they have not been following closely and diligently, the developments since the collapse of BAICO and CLICO.
Now, let us understand this Madame Speaker, and as we have said publicly on numerous occasions and I have come here to update Parliament. I have met with policy holders in Dominica on numerous occasions. On a one-on-one basis and as groups over the last several years. And I have kept them, because Madame Speaker, largely this is a private matter. It is a private investment and I have kept them informed on a regular basis on the actions which we have been taking.
Now, I hear people talk about Dominica should tell Dominica what Dominica is doing.
There is no one country Madame Speaker in the region, that has the ability to address this issue on its own. And this is why from day 1 we took a decision at the Monetary Council that we should fight this matter together as one unit in an effort to secure, if not all, but some of the investments which our citizens, including Dominicans, have made.
As a matter of fact Madame Speaker, I have been part, as one of the senior members of the Monetary Council, part of the negotiations with the Government of Trinidad – first with PM Patrick Manning, and secondly with Prime Minister Kamla Persad-Bissessar, and now with the present PM of T&T Dr. Keith Rowley.
In first addressing the issue of BAICO because in Dominica’s case, a number of our ordinary citizens so to speak, had monies with BAICO.
And if the members were very concerned about what they say about their constituents or what the Government is doing, would have known that based on our negotiations with Trinidad, where Trinidad’s Government agreed to give us US$100 million as part of Trinidad’s contribution to the resolution involving British American (BAICO).
They would have known Madame Speaker that we in the OECS paid millions of dollars to persons who had invested in British American (BAICO) and every person who invested $30,000 or less got paid in full Madame Speaker in regards to our efforts at the OECS.
And the records will show Madame Speaker, that these persons who invested $30,000 or less were in the majority! Were in the majority! And there were public announcements. We gave an update. Every Minister of Finance in the OECS, gave an update as to where we are with regards to… including this present Minister of Finance of Dominica.
— Roosevelt Skerrit (June 27, 2016)