Sean Douglas
In a Facebook statement on Tuesday the Prime Minister saluted the performance of the National Investment Fund (NIF) for having made $897.6 million in payouts to bond bonders since its launch in 2018.
He also chided the Opposition for once having dubbed it a Ponzi scheme.
In a Newsday story dated July 6, 2018, Opposition Leader Kamla Persad-Bissessar asked why the Government was not selling shares to the public in the entities comprising the NIF, rather than selling bonds, which she described as the Government as borrowing from an unsuspecting public in an unguaranteed arrangement.
“I reiterate that this NIF is an ill-conceived, vague, deceptive Ponzi-like scheme being piloted by an equally vague, deceptive, incompetent Government,” she said.
Dr Rowley posted on his Facebook page a recent NIF announcement headlined: $112.2 million paid to bondholders, along with his statement praising the NIF.
He remarked, “When the National Investment Fund (NIF) was launched in 2018, the Opposition attempted to undermine it by labelling it a ‘Ponzi’ scheme. In the four years since its successful launch, not only has the Opposition been proven wrong, but NIF has now paid out $897.6 million in dividends to its faithful investors – many of whom are just ‘regular’ citizens.
“Furthermore, the investment portfolio on which NIF is based has grown…
