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.

AN OPEN LETTER to the Hon. Dennis Merchant, Attorney General and Minister of Justice and Legal Affairs, The Federation of St. Kitts and Nevis.

Dear Attorney General Merchant, 

RE: PRIVATE PROPERTY LEASED By The PRIME MINISTER Of The FEDERATION Of St. KITTS and NEVIS To The REPUBLIC Of CHINA (ROC) 

In a March 18, 2008 Press Release, Prime Minister, Dr. the Hon. Denzil L. Douglas admitted to holding private interest in the residential property leased by the Republic of China (ROC). 

As a result, a group of concerned students in the Federation have mobilized in order to draw your urgent attention to the Organised Crime (Prevention and Control) Act,2002. Part II Section 4, states: 

A person engages in corruption where

(a) the person directly or indirectly promises, offers or gives to a public officer a benefit;

(b) the person, being a public officer, solicits or accepts whether directly or indirectly a benefit for himself or another; 

in order to act or refrain from acting in his official capacity. 

In accordance with Part III Section 9, Offences and Penalties: 

(1) A person who engages in corruption commits an offence. 

(2) A person who is found guilty of an offence under subsection (1) is liable: 

(a) on summary conviction, to a fine of 150,000.00 or imprisonment for 5 years or both;and

(b) on conviction on indictment, to a fine of $1,500,000.00 or imprisonment for 15 years or both. 

Mr. Attorney General Merchant, as you are aware, The Federation of St. Kitts and Nevis ratified the Inter-American Convention against Corruption, August 4,2004. Article VI of the Convention outlines: 

"Any act or omission in the discharge of his duties by a government official or a person who performs public functions for the purpose of illicitly obtaining benefits for himself or for a third party." 

Mr. Attorney General Merchant, since Prime Minister Douglas' admission to holding private interest in the residential property involves emissaries from a foreign government, the Republic of Chine (ROC), SKN Students Engaged draws your immediate attention to Article VIII of the Convention, Transnational Bribery: 

"Subject to its Constitution and the fundamental principles of its legal system, each State Party shall prohibit and punish the offering or granting, directly or indirectly, by its nations...to a government official of another State, of any article of monetary value, or other benefit, such as a gift, favor, promise or advantage, in connection with any economic or commercial transaction in exchange for any act or omission in the performance of that official's public functions. "

"Any State Party that has not established transnational bribery as an offense, shall, insofar as its laws permit, provide assistance and cooperation with respect to this offense as provided in this Convention. "

Mr. Attorney General Merchant, we the future leaders of the Federation, will not be SILENT to the Prime Minister holding private interest in the residential property leased by the Republic of China (ROC). In accordance with the responsibilities of the Office of the Minister of Justice and Legal Affairs, we expect due diligence pursuant to the domestic provisions on corruption listed above in the Organised Crime (Prevention and Control) Act, 2002, in addition to the Federation's obligations under the 1996 Inter-American Convention against Corruption. 

By this concern, we vociferate, 

SKN Students Engaged