POND ISLAND--Finance Minister Michael Ferrier delivered a bit of good news about his cash-strapped government on Wednesday. It appears, based on early figures, that the country may require less liquidity support from the Netherlands than was anticipated.
"We don't want to borrow more money than we have to, because any amount that we borrow is an added burden to children and our children's children. So, we are trying to do this in the most pragmatic way possible," Ferrier said.
"Liquidity-wise we may need less than we anticipated," Ferrier told the press in the Council of Ministers’ press briefing. This comes due to a slight increase in tax collection and the further cutting of government expenditures.
The slight movement in the columns of budget figures does not erase any large portion of the gaping hole created by a deficit of NAf. 197 million on the 2018 country budget.
Government will not approach the Dutch Government for a lumpsum in liquidity support, rather this will be done quarterly. "Instead of asking for one big amount, we are going to try to do that on a quarterly basis," said Ferrier.
Government will submit monthly financial reports in accordance with conditions set by the Netherlands.
