Imbert accuses Govt of diverting $1.3b in loans

Former finance minister Colm Imbert has accused the Kamla Persad-Bissessar administration of diverting $1.3 billion in loans intended to help State enterprises settle outstanding debts to suppliers and contractors, alleging that the money was instead transferred to the Consolidated Fund to meet Government expenses, including salaries.

Imbert made the statement during Friday’s debate in the House of Representatives on a motion concerning governance, transparency and accountability in State enterprises and State-controlled institutions.

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He also claimed 67 people at board and senior management levels across State enterprises had been dismissed, resigned, or were sent on leave over the past 18 months, raising concerns about what he described as instability, political interference and poor corporate governance.