Prime Browne Calls for Caution Amidst Backlash Over ECCB Governor’s Residence Costs

Chairman of the Eastern Caribbean Monetary Council and Antigua and Barbuda’s Prime Minister Gaston Browne is choosing a cautious approach in response to the ongoing backlash surrounding the excessive costs associated with constructing an official residence for the Governor of the Eastern Caribbean Central Bank Timothy Antoine.

The situation gained attention after a letter from Dr. Ralph Gonsalves, the Prime Minister of St. Vincent and the Grenadines addressed to PM Browne was made public.

In his correspondence, Gonsalves voiced serious concerns over the budget overruns, describing the proposed building as resembling a veritable palace and a monumental blunder.

Originally set at $7 million, the projected expenses have ballooned to over $22 million, prompting Gonsalves to call for accountability and significant consequences regarding this financial mismanagement. 

Contrastingly, PM Browne advocates for a more measured response, suggesting that the root of the issue lies in systemic failures within the governance framework.

He acknowledged the oversight at the level of the Monetary Council regarding spending, yet emphasized a lack of clarity on the precise extent of the financial commitments made by the directorship.

Browne also defended the integrity of the Governor, stating there is no evidence of any excessive demands or corruption that would question his character.

He proposes the formation of an independent committee to thoroughly investigate the matter and insists that judgment should be withheld until the committee presents its findings.

While he recognizes that the extravagant expenditures have raised alarm among council members, he believes it is too early to draw conclusive remarks or implications about the situation.