The Future of Petrocaribe is Uncertain

Joseph Waight

According to G.O.B.’s Financial Secretary, the increase in import duties has become necessary to stabilize government’s fiscal position which suddenly seems distinctly shaky. But why are consumers taking the hit? Just months ago there didn’t seem to be a problem Petrocaribe couldn’t fix. But that seems to be a thing of the past. According to Waight, who couldn’t tell us exactly what’s left in those special accounts, Petrocaribe is a little uncertain at this point.

Joseph Waight, Financial Secretary

“It really is an unknown, I mean we don’t know what’s happening in Venezuela, we don’t know what is going to happen, so far so good, we are still a member of Petrocaribe but we don’t know what the future will bring.”

Mike Rudon

“Currently, are we still getting in the same amounts of money that we used to get in?”

Joseph Waight

“No, remember it is tied to the prices, the world oil prices, the lower the world oil prices, the lower the financing from Petrocaribe.”

Mike Rudon

“Would you be able to give us a figure? When I asked you just before November, you had said that before November fourth it would have been like forty million dollars. Can you say where we are in terms of what’s in the Petrocaribe accounts at this time?”

Joe Waight

“No, I would have to check it again; I don’t have those figures at fingertips, no.”