Following a high-level state visit to the Republic of China (Taiwan), Prime Minister Honorable Dr. Godwin Friday has signaled a major shift in the nation’s fiscal strategy, emphasizing the urgent need for debt management and the creation of “fiscal space” to support the economy.
Speaking at a press conference after returning from the trip, which coincided with the 45th anniversary of diplomatic relations, Prime Minister Friday was blunt about the economic challenges facing St. Vincent and the Grenadines. He described the inherited fiscal situation as “very difficult,” noting that the government currently possesses very little room to operate due to a high debt portfolio.
The Prime Minister revealed that the nation’s…