Just a little something came across my desk from the local paper in St. Kitts.
"Main Opposition Party on St. Kitts, People?s Action Movement (PAM), has questioned the financial status of the National Bank, saying failure to produce the audited accounts for 2009 could be an indication that something is amiss.
Quote:
?Is our National Bank in trouble? The national economy is experiencing significant difficulty and the last thing anyone would like to contemplate is trouble in our largest indigenous bank. It is reported by sources close to the bank that the Annual General Meeting has been postponed without a date set because the auditors have refused to sign off on the accounts that should be made available to shareholders at the AGM. Information is scarce about the precise objections being raised by the auditors, and this lack of information is fueling ever wilder rumors,? a PAM press statement claims.
PAM alleges mismanagement of the National Bank?s funds on the part of the government as well as the top echelon of the institution.
?With speculation rife about the status of the National Bank, its own payment policy in December 2009 is coming under intense scrutiny. For Christmas the employees of National Bank, from Sir Edmund Lawrence himself right down to the lowest paid, carried home the equivalent of three (3) months? salary in bonuses and holiday payments. This amounted to a significant expenditure on the part of the bank, while many shareholders are still waiting for their long overdue dividends,? said the statement."
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Orignal article
http://www.thestkittsnevisobserver.c...tley-debt.html
Enjoy.