SVG, Trinidad PMs to discuss issues affecting OECS

Prime Minister of St. Vincent and the Grenadines, Ralph Gonsalves, says that his Trinidad and Tobago counterpart, Kamla Persaud Bissessar, has indicated an interest in meeting to discuss outstanding issues between Port of Spain and the Organisation of Eastern Caribbean States (OECS).

Gonsalves raised the issues in Kingstown on June 17 when he hosted the summit of the heads of the 12-member OECS, which is made up of seven full members and five associate members.

The issues included Trinidad’s continued control of the OECS airspace and how the money derived from it is used, and the difficulties that OECS countries face in being paid in US or EC dollars when selling goods to Port of Spain.

Another issue was the outstanding monies that Port of Spain had committed to pay to OECS countries after the collapse of the insurance giants CLICO and BAICO in 2009.

Gonsalves said at a press conference in Kingstown on Friday that he had raised the issue with Trinidad and Tobago’s Minister of Foreign and CARICOM Affairs, Sean Sobers, on July 6 in Montego Bay, where CARICOM leaders had gathered for their annual summit. 

He said that on July 7, Sobers told him that he had spoken to Persaud Bissessar about the issues and she had indicated that she wanted to engage the OECS in a constructive discussion.

Gonsalves noted that the Persaud Bissessar had agreed to payment of US$100 million on the CLICO-BAICO matter before it was voted out of office 10 years ago. 

“… the OECS countries lost about EC$1.6 billion — US$600 million thereabouts — on CLICO-BAICO. That was the potential damage and loss.”

He noted that Port of Spain, under the Patrick Manning administration, took care of their policyholders.

“So, by the time Kamala came to office, there was this open wound…” Gonsalves said. 

“They used the premium from St. Vincent to buy stuff in Trinidad. What about us? So we came to a conclusion for US$100 million — Trinidad to pay us. Kamala paid 36 million during her administration. But since then, the succeeding government in Trinidad over the succeeding 10 years, say they ain’t recognised that and paid nothing towards it.”

Gonsalves said this was “an indebtedness which is there. But all of these things her government has agreed that we must have constructive conversations”.

He said he would be sending a communication to Persaud Bissessar to arrange a meeting.

Gonsalves said he would like Prime Minister of Antigua and Barbuda, Gaston Browne, as well as any other OECS leader who wants to be present, to attend the meeting.

He noted that he is no longer a member of the Monetary Council of the Eastern Caribbean Currency Union, through which he had been responsible over 10 years ago for dealing with the CLICO-BAICO matter. 

“… Gaston is the one who took over that aspect which I was dealing with. So, if only for that CLICO-BAICO one, I’d like him to come with me. So we work together on that. 

“So I would say we made progress, because I found the government of Trinidad and Tobago, the new government, willing to have a constructive conversation,” Gonsalves said as he reported on the outcome of the CARICOM summit.