Jagdeo tries to mislead on US$$M left in account

Opposition Leader, Bharrat Jagdeo has once again attempted to mislead the nation about matters relating to the financial standing of the government. Jagdeo has been making bold statements about the money the People’s Progressive Party/ Civic (PPP/C) government left in the nation’s purse when it demitted office.

He questioned what the coalition government did with “all this money.” But the coalition is maintaining that it inherited a treasury that was in heavy overdraft when it took over administrative office in 2015.

However Jagdeo told Kaieteur News that that there are two accounts that have substantial cash which can be used.

“They said it is not true, let me give you the two cases, it is the Bosai matter. Ask them how much they got from that settlement and also how much was the CTL (Caribbean Timbers Limited) property at Houston sold for and where that money is? Those are the two accounts I am talking about. When you add them together it will be over USD30M. One is a privatization and one a court matter.”

Minister of Finance, Winston Jordan said that Jagdeo knows the truth of the situation. He knows that the money is not available to Government. Jordan said that the proceeds from the CTL property which is one of CLICO’s holdings is subject to a judicial dispute. “That money has judicial restrictions.”

Further, Jordan pointed to the fact that Jagdeo used money from the treasury to fund the CLICO pay out in 2010. He said that if the money from the CTL building was available, Jagdeo would have used the fund to make the pay out back then.

(Kaieteur news)