Opposition Leader the Hon. Arhnim Eustace is calling on the government or the financial authority in St Vincent and the Grenadines to act quickly, make a public pronouncement, to immediately allay the fears of the Vincentian public that was triggered by what he considers an irresponsible statement made by Luke Browne, condemning the St. Vincent Building and Loan Association.

Opposition Leader the Hon. Arhnim Eustace is calling on the government or the financial authority in St Vincent and the Grenadines to act quickly, make a public pronouncement, to immediately allay the fears of the Vincentian public that was triggered by what he considers an irresponsible statement made by Luke Browne, condemning the St. Vincent Building and Loan Association.
Eustace was referring to a letter from Browne that was carried in the local media that was very critical of the operations of the St. Vincent Building and Loan. The letter seemed to imply that the financial institution could collapse.
According to Eustace, coming against the backdrop of the debacle incolving CLICO and British American which has left thousands around the Caribbean in dire financial straits, the letter written by Browne is likely to shake the confidence of members of the St. Vincent Building and Loan Association.
Eustace was insistent that persons making statements concerning financial institutions should be careful as this could have negative effects should the information given be incorrect.
Eustace was mindful that his party, the NDP, had made the conscious decision to accede to a request from the authorities at the former NCB some years ago to restrain the members from making public pronouncements on the institution lest potential buyers shy away from it or investors engage themselve sin a massive run on the NCB.
Failure of the government to rebuff the Luke Browne statement or make some pronouncement on it in the short term could leave the way open for individuals to respond based on pure emotionalism stemming from the CLICO/BAICO debacle.
Eustace ended his comments by appealing to the Vincentian government to respond sooner rather than later.

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