ST JOHN’S, Antigua – Chairman of Antigua Port Authority Greg Walter has questioned the whereabouts of several important documents belonging to the authority which have gone missing.
The port has been facing some difficult financial times as it scrambles for funds to pay workers and to service a EC $20 million debt to local and foreign companies.
Walter told a recent news conference that the missing documents are needed to turn around the fortunes of the entity.
“At the Port Authority, sometimes information just seems to take a dive in the Deep Water Harbour and nobody can find them and it’s very frustrating to say the least,” the port chairman told stakeholders.
He said progress was made in debt restructuring with local banks but they needed additional documents which can not be found.
“The banks are prepared to work with us but they need those financial documents like yesterday. They can not budge unless we get those financials in to them.”
Walter said the documents would enable the financial institutions to reduce the interest rate paid on loans and to lessen monthly payments.
Consultants who recommended that the port authority cut its staff by more than half also reported that missing documents frustrated information gathering for the report.
“It’s not the consultants’ fault. They have been beseeching and begging but certain things just cannot be found at the port,” Walter said in the defense of Adair and Associates.
He said the board would continue to work with stakeholders to ensure that efforts to have a financially independent port are successful.