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SVG has enough assets to pay off AIA debt – Dr Gonsalves


This State possesses enough assets to pay off the debt at the Argyle International Airport (AIA).

Prime Minister Dr Ralph Gonsalves, in his Budget address on Monday at the House of Assembly, stated that while the debt on the AIA is approximately EC$400 million, state agencies own assets amounting to over EC$400 million.

He said the assets are owned mainly by the AIA (not including the airport itself), the International Airport Development Company and National Properties Ltd (for the IADC).

“…In short, there are enough assets available to pay for the debt at AIA,” the Prime Minister stated.

Over EC$300 million of the debt is made up of soft loans mainly from ALBA, Petro Caribe and Taiwan.

Gonsalves said the estimated cost of constructing and equipping the AIA is approximately EC$ 700 million, while the estimated value of the construction is in excess of EC $1billion.