NATIONAL INVESTMENT FUND IS AN IDLE DEBATE

The Opposition Leader Michael Pintard has been flapping around for an issue for the whole summer. It became worse when it became clear that the establishment figures in the FNM decided that they would publicly encourage him to leave. He has been louder than ever, one idle cause after the next. Each of the causes fell flat because he was simply too anxious to get on the bandwagon. The latest foray into nothingness was the brouhaha on the National Investment Fund. This Fund is the successor to the Sovereign Wealth Fund. It will hold the assets of the government for the future generations. It has not yet been established but some 700 million was parked in the Central Bank designated to go there once the fund was established. In the meantime the airports had to be built, that was the money for which the investment was earmarked. The Central Bank Governor John Rolle said the monies were released to the Ministry of Finance to build the airports. That wasn’t enough for Mr. Pintard he called it a public fraud. There is no fraud and he and Candia Dames can beat that drum as much as they like, there is no fraud.  The monies were released properly and spent properly. The issue of constitution of the Fund that is a different question.