Nevis is better positioned for full independence

Saturday, December 20, 2003

CHARLESTOWN, Nevis: With a debt to GDP ratio estimated at 72%, Nevis compares favourably with other islands in the OECS and Premier Mr Vance Amory is of the opinion that the island would be in a much better position if it were independent.

Making his concluding remarks during his two-hour budget address in the Nevis Island Assembly chambers on Thursday, the Premier pointed out that he was aware that some persons would attempt to use the fiscal situation to argue the case against full independence for the people of Nevis. 

"But this could be seen as 'clutching at straws' especially as the attainment of independence would enable an independent Nevis through its own sovereign government to better approach a global market place to access financing and investment funds for development and economic growth," said Premier Amory, who also holds the Ministry of Finance portfolio.

He told the assembly that other islands in the OECS have an average debt to GDP ratio, up to the end of 2002, of 83.1%, adding that while the data for 2003 was not available, it was likely to increase. The budget was presented under the theme 'Surmounting Today's Challenges for a Brighter Tomorrow'.

"In fact, three islands in the OECS have actual debt to GDP ratio in excess of 100%," noted Premier Amory. "The Nevis situation therefore is still much better than several countries in the Caribbean and around the world."

Nevis has received very little grants in aid from any sources and the Nevis Island Administration has received no financial assistance from the Federal Government in the last ten years, Premier Amory noted, saying Government had to borrow to finance its own economic development.

"The Federal Government has provided a sovereign guarantee for the loans, but the debt and the responsibility to repay the loans is that of the Nevis Island Government," he reaffirmed. "The progress that we have made since 1983, is a direct result of the hard work and determination of our people since we assumed responsibility for our internal affairs."

The success chalked up by the people of Nevis is as a result of gaining greater control over their economic and political destiny, but he reminded everyone that the journey has not yet ended. 

"If as a people we can achieve so much with autonomy, the possibilities after full independence are limitless," commented the Premier. "Our people are determined and resilient. These are attributes that will enable us to surmount difficulties in our quest for political and economic advancement and independence."

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