SVG | ECCB Governor Building a 'Scandalous' EC$22-M 'Veritable Palace' - Ralph Gonsalves Not Happy

ST. VINCENT AND THE GRENADINES, March 9, 2025- In a scathing confidential letter recently obtained by "Wiredja" newsroom, St. Vincent and the Grenadines Prime Minister Dr. Ralph Gonsalves has lambasted what he terms an "absolute scandal" — the construction of a EC$22 million ($US 8,140,459) official residence for the Governor of the Eastern Caribbean Central Bank (ECCB).

The Prime Minister described the project as a "veritable palace" built at a time when citizens across the region face "huge economic challenges, inclusive of rising food prices and the haunting spectre of increased poverty."

The letter, dated February 17, 2025, and addressed to Antigua and Barbuda Prime Minister Gaston Browne in his capacity as Chairman of the Eastern Caribbean Currency Union (ECCU) Monetary Council, reveals Gonsalves' profound shock upon learning of the expenditure from his Finance Minister, Camillo Gonsalves.

"This act of excessive spending is an outrage!" writes Gonsalves, who claims to be "shaking to the essence of my being" as he penned the letter.

The Prime Minister places the blame squarely on the current ECCB Governor, citing "an appalling lack of judgement, pursuit of apparent vainglory, and a total lack of sensitivity or prudence" that he believes "invites disciplinary action."

This represents a stark reversal for Gonsalves, who admits he "supported unequivocally the appointment of the current Governor" and had previously been "impressed not only with the rare quality of his mind, his skills, and his Christian virtues, including prudence and modesty."

The residence in question spans approximately 10,000 square feet, which Gonsalves characterizes as having "veritable palace proportions." He contrasts this with previous ECCB Governors who demonstrated "modesty in comfortable accommodations, and their concomitant aversion to ostentatious living."

Beyond the initial construction costs, Gonsalves expressed concern that "the cost for the upkeep and staffing for this grand, but ill-conceived residence for the Governor is likely to be significant, if not excessive," adding pointedly that "the poor and working people of our region are being called upon to foot the bill."

In his letter, Gonsalves suggests the Monetary Council consider selling the property to the Government of St. Kitts and Nevis for use as either an official residence for its Governor General or as "a high-level, exclusive tourist accommodation."

Most dramatically, the Prime Minister hints that the Governor should consider whether "his continued occupancy of his Office is tenable in all the circumstances," calling it "a painful, personal decision."

Gonsalves concludes by acknowledging the inevitable public discourse surrounding what he dubs "the Governor's Palace," stating firmly, "I am unable to defend this wholly indefensible project... It cannot be spun in any manner which does not engender derision."

The Prime Minister's letter was also copied to heads of government of all ECCU member states and to the ECCB Governor himself.

Dr. Ralph Gonsalves has served as Prime Minister of St. Vincent and the Grenadines since December 29, 2001, when he succeeded Sir James Mitchell as head of government.

His political journey began when he succeeded Vincent Ian Beache, who voluntarily stepped down as leader of the Unity Labour Party (ULP). On December 6, 1998, Dr. Gonsalves was elected Political Leader of the ULP following Mr. Beache's departure.

Gonsalves is currently serving his third term as Prime Minister, with his Unity Labour Party successfully winning the General Elections of 2001, 2005, and 2010.

The ECCB serves as the central bank for the Eastern Caribbean Currency Union, which includes Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Anguilla, and Montserrat.

-30-