Latest: Caribbean

St Lucia gov't urged not to join Petrocaribe

Published: Thursday January 31, 2013 | 11:20 am Comments 0

St. Lucia’s Opposition Leader Stephenson King is urging the government not to join the Venezuelan oil initiative, PetroCaribe, saying it could bring the island into further debt.

He adds that it would not make much sense as the fuel is being sold at the very rate that the country is currently purchasing it from Trinidad or elsewhere.

Prime Minister Dr. Kenny Anthony, who recently attended a meeting in Caracas where the PetroCaribe initiative was discussed, said plans were announced to expand the programme.

Several Caribbean countries have so far benefited from an estimated US$800 million in investments through the programme.

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