It is downright unacceptable to hide IMF Report, Maynard tells PM Harris

An opposition St. Kitts-Nevis Labour Party (SKNLP) parliamentarian said Wednesday that based on regional trends he strongly believes that the reason why Prime Minister and Minister of Finance, Dr. the Hon. Timothy Harris is refusing to publish the IMF Country Report for St. Kitts and Nevis is to hide the economic decline taking place in St. Kitts and Nevis.

"The people of St. Kitts and Nevis, our business-people, or trade partners, our development partners and investors need to know precisely what the IMF's criticisms are and the commensurate policy prescriptions they have made as to how the situation can be improved. How does Dr. Harris expect us to take him seriously when he talks about freedom of information?" Hon. Konris Maynard, the SKNLP Parliamentary Representative for St. Christopher 3 (West Basseterre) said at Wednesday's monthly press conference.

"It could very well be that the IMF has issued warnings about the corruption that is presently taking place in the Citizenship By Investment Programme which according to one international report, is robbing the country of between US$30 million and US$130 million per year," said

Maynard said "it is also possible that the IMF is saying that for Harris to factor in his projections of EC$230 million in earnings from the CBI programme as part of his EC$700 million budget for 2019, is exorbitant and over ambitious and possibly reckless."

"You don't count your chickens before they hatch, this is neither prudent or advisable. 2019 has just begun. Harris cannot be sure that the CBI will actually meet this projection," added Maynard, who suggested that if there is any shortfall, this would mean that the government would be in deficit, which will add to the national debt.

"It is also possible that the IMF could also be warning against the rumoured crisis taking place at the National Bank in terms of the excessive number of non-performing loans. We don't know, all we can do is speculating," said Maynard.

He said Dr. Harris' current posture towards the IMF appears to be an attempt to discredit or understate the important work of the IMF experts.

"It is very hostile and defiant. He refuses to acknowledge that it is the democratic right of every citizen, development partner and investor in St. Kitts and Nevis to be provided with the information and analysis contained in the IMF's independent report. He is trying to avoid the basic question that the public wants and deserves to know: What is the main issue of contention with the IMF report? We want Dr. Harris to release the report, and to say precisely what is the policy advice or data points provided in the IMF report that he takes issue with and give his reasons why and to provide his counter-argument.

"His defiant stance is saying to the people 'I don't care if you want to see the IMF Report, I am not going to release it and that's that.' We are saying that this downright unacceptable, the people deserve and demand an explanation."