In a previous column, we had referred to a statement from the Private Sector Commission (PSC) that the Chief Justice’s ruling remains intact until it is overturned by a higher court and that it expects the President and his government to respect and honour the ruling by calling elections before 21 March 2019. The PSC also expressed concern about public statements emanating from government sources that the status quo remains the same until the entire judicial process is fully exhausted, including possible appeal to the Caribbean Court of Justice. Accordingly, it warned that such statements could lead to ‘grave instability and an illegal government’.
In today’s column, we continue to monitor developments since the 21 December 2018 vote of no confidence in the Government.
Results of Survey Within the Business Community
The Georgetown Chamber of Commerce and Industry (GCCI) released the results of a survey carried out within the business community, which indicated that there has been a significant decline in commercial activity because of the present political uncertainty. Two-thirds of the respondents indicated that they have experienced a decline in business ranging from 25-100 percent.
This is not good news for the state of economy as well as for investor confidence. One is reminded of the events during the period November 2014 to May 2015 when the economy was severely affected because of the prorogation of Parliament on 10 November 2014, its dissolution on 28 February 2015 and the holding of elections on 11 May 2015. A similar scenario appears to be playing out, with such polarizing effect this country has not seen since the early 1960s…..