The Concerned Citizens Movement – Nevis Island Administration of Premier the Hon. Vance Amory has agreed to set up a Lands Sales Company, accordance with the Land For Debt Sway arrangement.
This was disclosed Wednesday in the St. Kitts and Nevis National Assembly by the Federation’s Prime Minister and Minister of Finance, the Rt. Hon. Dr. Denzil L. Douglas.
He told an Emergency Meeting of the lawmaking body that the latest report from the Ministry of Finance suggests that the Nevis Island Administration of Prmeir the Hon. Vance Amory has given the undertaking to accelerate actions in terms of concluding all outstanding matters related to the on-going debt restructuring programme, in particular, the debt for land swap arrangement with the St. Kitts-Nevis-Anguilla National Bank.
“I am told that earlier this month (4th September) the Supplementary Shareholders Agreement was signed between the relevant parties, that is, the St. Kitts – Nevis – Anguilla National Bank, the Nevis Island Administration and the Government of St. Kitts and Nevis,” Dr. Douglas said.
He said the action by the Premier of Nevis cleared the way for the Nevis Land Sales Company to be made operational.
“This is an important element in the overall debt management strategy set for the Federation as a whole,” Prime Minister Douglas declared.