Prime Minister Hon. Philip J. Pierre speaks on Insolvency Bill

Prime Minister Pierre highlighted that the Insolvency Act will modernize the credit sector in Saint Lucia, redefining the relationship between creditors and debtors. It also aligns the government's financial policies with international financial institutions such as the World Bank, the Caribbean Development Bank (CDB), and the International Monetary Fund (IMF). The development of this legislation began in 2014 and has since undergone numerous revisions and consultations with stakeholders. Nearly a decade later, Prime Minister Hon. Philip J. Pierre has successfully guided the Insolvency Bill through Parliament. The Prime Minister also commended the National Competitiveness and Productivity Council (NCPC) for its leadership in drafting the Insolvency Legislation, which promises to bring transformative change to Saint Lucia’s financial landscape. Find out more: https://www.govt.lc/news/insolvency-act-empowers-debtors-to-negotiate-with-creditors