St. Kitts & Nevis: Poor Credit Rating

Abeng News Magazine notes that “the credit rating of St Kitts and Nevis…took a hit when it defaulted on a bond payment the end of November”, adding: “Maybe because there isn’t an Occupy movement in Basseterre, or because the people of one of the most indebted nations in the world aren’t like Greeks ‘behaving badly’, the news didn’t cause a stir in the region.”

1 comment

  • Skip Punk

    The situation in St. kitts was expected. The Prime Minister and his Government has been involved in a lot of corruption over the years. Lex Consulting and the $96million dollars that he received continues to haunt the country. Recent schemes to extract monies from the Social Security is perhaps the most blatant. The Beacon Heights housing scheme is now the focus as millions of dollars were paid out to a non performing project.
    Unrest will be the order of the day in that Country as the Government will have to go in order to save the financial situation there.

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