Minister in the Ministry of Finance, Dr Ubaldus Raymond, has denied claims that Bank of St Lucia has been sold. However he says there is distressing news of the bank’s current financial situation. According to Dr Raymond, the institution is dealing with 300 million worth of bad loans. The government is currently exploring options in dealing with the issue as it vows that it will remain a shareholder of the bank. He says a top priority is to ensure that depositors’ money is safe. Meanwhile the Leader of the Opposition, Phillip J Pierre, has cautioned the Minister about making possibly damaging statements about the Bank. He says all is not lost for the bank as yet given its heavy deposits and standing as an employer. Pierre says the government must try to protect the Bank of Saint Lucia; and ensure that the Bank of Saint Lucia survives. He said the Minister in the Ministry of Finance should be very careful when making any statements about the Bank of Saint Lucia.
