WHERE IS ALL THE MONEY GOING?

"WHERE IS ALL THE MONEY GOING?" she questioned. This Concern is from a female student abroad at university.

The Development Bank of St. Kitts and Nevis (DBSKN) offers loan packages mainly for students to pursue a first Degree.

- A maximum of US$25, 000 for three to four year programs
- A maximum of US$15, 000 for two year programs
- A maximum of US$10,000 for one year programs

Students are encouraged to pay interest accrued during the period of study. Interest is presently charged at a rate of 9% per annum.

THE PROBLEM: "WHERE IS ALL THE MONEY GOING?"

The Bank falls under the direct responsibility of Prime Minister Dr. Denzil Douglas (Minister of Finance). The Bank is owned by the Government of St. Kitts and Nevis.

Many of us in college and university view the closure of the sugar industry as the chance for the Government to strengthen social capital by providing employment opportunities for students. This is especially so for returning students finding it difficult to get jobs after completing their studies.

THE PROBLEM: "WHERE IS ALL THE MONEY GOING?"

The Government has invested USD millions to tourism development over the past few years. Some of the heavily financed projects have experienced failure.

From the experience in St Kitts and Nevis, our student Concern is mainly that the tourism industry restricts locals to jobs that are below middle management positions. Another criticism is that the majority of the job opportunities in the Hotel & Restaurant sector are seasonal in nature.

Between the failure of the heavily financed projects, Government continues to direct millions of USD investment into tourism – SKN Students Engaged are concerned with broader human resource development.

This is especially so for returning students finding it difficult to find employment when their area of study is not related to tourism.

THE PROBLEM: "WHERE IS ALL THE MONEY GOING?"

Certainly NOT to CRIME PREVENTION- Last week Friday we witnessed 2 MURDERS on the same day in St. Kitts.

On one hand, Government directing millions of USD investment to tourism increases economic reliance for St. Kitts and Nevis. Yet rampant crime particularly hinders tourism development, on the other hand.


For SKN students this increased economic reliance on tourism without CRIME PREVENTION is the lost opportunity for Government to strengthen social capital by providing employment opportunities for young people- Especially returning students whose field of study is not tourism-related.


THE PROBLEM: "WHERE IS ALL THE MONEY GOING?"

Certainly NOT to benefit persons insured for retirement/old age, invalidity, maternity, sickness or injury on the job. Government borrowed a large sum from the St Kitts Nevis Social Security Board earlier this year.

SKN Students Engaged consider the above female student's original question "Where is All the Money Going?" On one side of THE PROBLEM the Government encourages SKN students to pay Interest on loans before we even enter the job market. At the same time, Government directs USD millions into a tourism industry which offers mainly seasonal employment that restricts locals to positions below middle management.

On the other side of THE PROBLEM, before we even enter the job market SKN students can already see that the Government is borrowing money from our mandatory Social Security deductions intended to benefit the elderly and others.

THE PROBLEM with "WHERE IS ALL THE MONEY GOING?"

Government is certainly NOT directing investment that may provide young people-especially returning students-with viable employment opportunities in St. Kitts and Nevis.

THE PROBLEM: "WHERE IS ALL THE MONEY GOING?"

By This Concern, We Vociferate
SKN Students Engaged.