St Lucia Petro Caribe debate

An independent legislator in St Lucia is calling for a debate in parliament on how the island will benefit from PetroCaribe, the Venezuela-led initiative which supplies energy products to Caribbean countries.



Everiste Jn Marie, who is also a former president of the St. Lucia Petroleum Dealers Association, says the scheme could become unsustainable given the recent suggestion of a new repayment plan by Caracas.



Venezuela is reported to be asking beneficiary countries to pay 80 per cent of the oil and energy products within 90 days, compared with 40 per cent in the past.



Guyana and Belize have already said they will struggle to meet the new terms.



St. Lucia has signed on to the PetroCaribe initiative, but the island is yet to access any of its provisions.