“And if you are engaging and abusing it, the Trustee is best placed, because they have to monitor everything.”
Read MoreThe Department of Finance, through the Accountant General’s Department, has introduced a new and innovative Financial Management System to replace the 25-year-old Smartstream system.
Read MoreEarlier this month, a team from the World Bank visited the island to gain firsthand insights into the progress of the Caribbean Digital Transformation Project.
Read More“That’s why when we measure productivity we have to adjust for inflation. We have to discount the effect of inflation.”
Read MoreThe National Competitiveness and Productivity Council (NCPC) continues to engage stakeholders on the soon-to-be-enacted Insolvency Bill, which has had its first reading in the House of Assembly. Insolvency is a financial state where an individual or organization is unable to meet its debt obligations, often leading to legal proceedings such as bankruptcy, where the debtor seeks relief from some or all debt obligations.
Read MoreJuliana Alfred, Chair of the National Anti-Money Laundering Oversight Committee (NAMLOC), welcomed a team from the World Bank and the European Union who conducted a workshop on virtual assets for stakeholders from the public and private sectors. Saint Lucia’s Virtual Assets Providers Act, passed in 2022, provides for the licensing and supervision of the sector.
Read MoreSaint Lucia played host to a pivotal meeting of the CARICOM Permanent Joint Council on Public Procurement (PJCPP) on April 18 to 19, 2024, held at the Finance Administrative Centre in Pointe Seraphine, Castries.
Read MoreThe National Competitiveness and Productivity Council (NCPC) continues its proactive approach to legislative reform, building upon the recent enactment of the Security Interest in Movable Properties Act. Currently, the Insolvency Bill, having completed its initial reading in the House of Parliament, stands as the next significant step. This bill aims to offer individuals and businesses grappling with economic challenges the opportunity to restructure their financial obligations with creditors. Sharma Mathurin serves as the Deputy Director at the NCPC.
Read MoreThe Government of Saint Lucia has announced the enactment of the new Public Debt Management Act 2023, which took effect on April 1st 2024. Deputy Director of Finance with responsibility for Debt and Investment in the Department of Finance, Vera John-Emmanuel, pointed out that this landmark legislation consolidates and modernizes laws to strengthen the management of public debt, ensure prudent borrowing practices and sustainable fiscal management. The new act replaces the National Savings and Development Bond (NSDB) Act and the Treasury Bill Act.
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