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Will UDP Leave Interest To Keep Compounding?
posted (November 29, 2017)
And while the Opposition Leader won't say how he plans to vote - neither did the Prime Minister - although you can clearly catch his drift.

But, they're in very different positions. As The Minister of Finance, PM Barrow has the duty to take the motion to the house to request payment. And, as Prime Minister he has a duty to manage the country's affairs judiciously. So, what can be said to justify simply not paying a debt on which interest is compounding monthly? The PM says that it can run to a billion dollars - they just can't do anything without Parliament's approval:..

Rt. Hon. Dean Barrow- Prime Minister
"If parliament doesn't vote to pay the money it doesn't cancel the debt. The judgment is a judgment of the court and that remains intact and invalid and the interest will continue to run. It could run until it reaches a billion dollars as long as parliament doesn't vote the money it can't be paid. If we don't pay, interest continues to run but I don't make light of it. I have to say though that if you can't collect how does that help you? Ultimately if they find a way to collect we are in the soup but how will you find a way to collect except, and in this case it's not just changing the Crown's Proceeding's Act, except some succeeding Government will have the ganas and the numbers to change the constitution because it is the constitution that says you can't take money out of that consolidated fund to pay for any purpose including the satisfaction of a judgement unless parliament votes it. Now, it may well be that a different government puts up an appropriation bill and is able to pass it. I don't see how anyone would have the nerve."

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