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Thread: MINISTRY BREACH - $19.6 billion in unapproved loan guarantees

  1. #1
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    Default MINISTRY BREACH - $19.6 billion in unapproved loan guarantees

    Omar strikes again!

    THE finance ministry confirmed yesterday that it has over the past three years provided more than $19.6 billion in illegal loan guarantees by way of letters of undertaking (LOUs), but shadow finance minister Audley Shaw says that the potential exposure could run into billions more when comfort letter guarantees are taken into account.

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  2. #2
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    Default Re: MINISTRY BREACH - $19.6 billion in unapproved loan guarantees

    Yeah -- simply amazing.

    I heard it on the news last night, I about fell out. My wife is still in shock. How the heck does this happen?

    Only in Jamaica -- no wonder we can't get anywhere... one step forward, two step backwards, as they say.

    gosh!

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