KINGSTOWN, St. Vincent, CMC – St. Vincent and the Grenadines Prime Minister, Dr. Ralph Gonsalves, says his Trinidad and Tobago counterpart, Kamla Persaud Bissessar, has indicated an interest in meeting to discuss outstanding issues between the oil-rich town island republic and the sub-regional Organisation of Eastern Caribbean States (OECS).
Gonsalves raised the issues here last month when he hosted the summit of the heads of the 12-member OECS, which comprises 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, as well as the difficulties that OECS countries face in being paid in United States or Eastern Caribbean dollars when selling goods to the Port of Spain.
Another issue is the outstanding monies that Trinidad and Tobago has committed to paying to OECS countries after the collapse of the Port of Spain-based insurance giants CLICO and BAICO in 2009.
Gonsalves told a news conference that he had raised the issue with Trinidad and Tobago’s Minister of Foreign Affairs and CARICOM Affairs, Sean Sobers, during the recently concluded Caribbean Community (CARICOM) summit in Montego Bay, Jamaica.
He said that Sobers told him that he had spoken to Prime Minister Persaud Bissessar about the issues, and she had indicated that she wanted to engage the OECS in a constructive discussion.
Gonsalves noted that the previous Persaud Bissessar-led government 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 said, noting that Trinidad and Tobago, under the Patrick Manning administration, took care of their policyholders.
“So, by the time Kamla 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? We came to the conclusion that Trinidad would pay us US$100 million. Kamla paid US$6 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 send a communication to Prime Minister 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 leaders who wish to attend, to be present at the meeting.
He noted that, although he is no longer a member of the Monetary Council of the Eastern Caribbean Currency Union (ECCU), he had been responsible for dealing with the CLICO-BAICO matter over 10 years ago.
“Gaston is the one who took over that aspect that 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.
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