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Let’s move beyond the smoking gun and get the facts on the table

Aug 24, 2013 Letters

Dear Editor,
The amount of debt being assumed by the GoG on the Amaila Falls Project, and hence the liability on the governments books  continues to be in question. Here are just two examples:
(1)Since the government agrees to pay the debt if the company defaults, this is what accountants call a contingent liability; Ramon gaskin Christopher Ram, Letters 18/8/2013.
(2) Once the Amaila shares are sold, this would free the taxpayers, parliament and the treasury from placing on the national books a liability of US 758M; Dr. C. Kenrick Hunte, Letters 23/08/2013
Regardless of whose side you are on, the correct amount of the debt should be a matter of fact and should be easily verifiable. There is no doubt that  US758M is a substantial amount, and substantial claims require substantial evidence.  Accordingly, I respectfully request that the gentlemen quoted above make public the necessary documentation from which their claims arise. Besides, sufficient competent evidence would put to rest the government’s claim that the vast majority of debt being incurred is private debt.  Surely Mr. Ram as a Certified Public Accountant must know that to merely assert that the government requested to have the debt ceiling increase does not constitute sufficient evidence for the establishment of a liability in accordance with Generally Accepted Accounting Principle…let’s move beyond the smoking gun. Let’s get the facts on the table
Newton Mingo

 

 

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