Government hopes to take some of the steam out of the UDP's demonstration on Saturday by marching out Social Security’s General Manager Narda Garcia who has been ordered by Cabinet to give the press, civil society and the Governance Improvement Commission a full disclosure on the board's operations and loans on Thursday. That was the conclusion today after Garcia briefed on the various investments and money maneuvers of Social Security.
At the end of the meeting, Cabinet resolved that the most pressing matter is that DFC pay back Social Security the $49 million it owes. Of course the only way this can be paid back is if someone buys DFC's $146 million portfolio, which has been on the market for close to a year without attracting a serious buyer who's ready to pay even close to the face value of $146 million.
Today Cabinet also received a briefing from the Governor of the Central Bank Sydney Campbell, who, despite reserves that hardly cover three weeks of imports and are held against foreign debt commitments, reported that reserves are in a position to respond to the debt servicing needs a government statement said. Campbell also spoke to what the government release calls the soundness of the banking system, and the integrity of government's accounts.