Dear Editor,
The construction of the Eastern Caribbean Central Bank ECCB Governor’s residence has raised serious concerns regarding financial oversight. Initially budgeted at EC$7 million, the project’s cost has now escalated to EC$22 million, with no clear explanation for the massive increase.
This situation demands immediate scrutiny. Public funds must be managed with transparency and accountability, yet there appears to be little justification for the additional expenditures. Who approved this cost increase? Were proper procurement procedures followed? What factors contributed to such a significant budget overrun?
At a time when economic challenges affect many in the Eastern Caribbean, such spending raises serious questions about priorities. Financial institutions should lead by example, ensuring fiscal responsibility and demonstrating prudent financial management. The lack of transparency surrounding this project risks eroding public confidence in the institutions tasked with safeguarding economic stability.
An independent audit is necessary to provide clarity on how funds have been allocated and to ensure accountability. The public deserves answers and reassurance that financial management within key institutions meets the highest standards. Without transparency, trust will continue to erode.
Sincerely,
Layman
