The credit rating of St Kitts and Nevis, the smallest independent state in the hemisphere, took a hit when it defaulted on a bond payment

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7 Responses to “Debt Before Dishonour – St Kitts Defaults as it Restructures”

  1. […] Abeng News Magazine notes that “the credit rating of St Kitts and Nevis…took a hit when it defaulted on a bond payment the end of November”, adding: “Maybe because there isn’t an Occupy movement in Basseterre, or because the people of one of the most indebted nations in the world aren’t like Greeks ‘behaving badly’, the news didn’t cause a stir in the region.” Tweet Abeng News Magazine notes that “the credit rating of St Kitts and Nevis…took a hit when it defaulted on a bond payment the end of November”, adding: “Maybe because there isn’t an Occupy movement in Basseterre, or because the people of one of the most indebted nations in the world… […]

  2. Skip Punk Avatar
    Skip Punk

    With The corruption in the St. Kitts Government and especially the involvement of the Prime Minister in the Lex Consulting scandal this was fore seen. The people of that nation will suffer and the possibility of unrest is very real.

  3. Skip Punk Avatar
    Skip Punk

    St. kitts and Nevis have a program where they sell their passports under a citizen by investment scheme. Surley defaulting on their debts will shake investors confidence in that country. The millions of dollars that they get from the scheme will be greatly reduced or the Government make over look the due diligence necessary to approve the issuance of passports to all and sundry. The Government has obviously failed in managing it’s finances. They need an “Occupy St. kitts and Nevis movement” or to shake up the Government like Tunisia and Egypt and Lybia. Actually Lybia was to have invested a Bank in St. kiits just two years ago.

  4. Roger from Ontario, Canada Avatar
    Roger from Ontario, Canada

    The Prime (Minister) … is giving away the lands of the people to foreigners. He has accumulated numerous amounts of wealth since his 16 years in office. The voters list is padded. The prime minister was a great confidant to the deceased Muammar Gaddafi whereby after the last national election he went to visit Mr. Muammar Gaddafi before he even swore in his counterparts. With all this being said Mr. Douglas who says that he is the Prime Minister for the poor has the entire nation crumbling to pieces. It’s good to see that an article like this is being run by a regional nation. I will hope that this picks up internationally and shed a light on what the people of St. Kitts and Nevis is facing. The local media just sit back and let the Prime Minister do as he feels without even challenging him with the tough questions. What the people of St. kitts and Nevis is facing is a complete disgrace. We elect politicians to manage the finances of a country and to ensure that there is an equal standard of living for everyone but it seems to me that the only one prospering is Mr. Douglas. To the outside world…..HEEEEEEEEEEEEEEEELP

  5. Used to Love Nevis Avatar
    Used to Love Nevis

    The government has sold 4400 economic citizenships at USD250,000 apiece. Do the math–where is that money? Do the people of SKN think it is OK for their elected officials to rob them blind? The government has a vested interest in keeping the people uneducated and bound to the existing political parties who just alternate their turns at the trough. Do the people honestly think they won’t have to repay any of the debt? Where will the money come from? Look out for higher taxes… Who will invest in the Federation? There isn’t enough tourism in the world to bail them out this time–even if there wasn’t any crime. SKN is in a bad way and it isn’t going to get any better soon.

  6. […] being taken by the St Kitts and Nevis government to address a debt problem that led to the country defaulting on a domestic bond that became due on November 25. St Kitts Nevis […]

  7. […] St. Kitts-i fejleményekről ír [en], miután a szigetállam nem tudott fizetni hitelezőinek és államcsődöt jelentett [en]. Tweet Az Abeng News Magazine a legfrissebb St. Kitts-i fejleményekről ír [en], […]

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