On Wednesday, 11 December 2024, the Fiscal Resilience Oversight Committee (FROC), met with the Honourable Leo Cato, Speaker of the House of Representatives and Chairman of the Committee of Privileges.
The FROC was represented by Accountant Hyacinth Jeremiah, Attorney and Public Administration Annette Henry, Attorney Lisa Taylor and Chairwoman Laurel Bain. The Technical and Administrative Manager Tracy Victor was in attendance at the meeting.
The chairwoman outlined the activities undertaken by the FROC in 2024 in fulfillment of the Mandate under the Fiscal Resilience Act (2023). These legislative requirements were the submission to the House of Representatives of the FROC 2023 Annual Report and the Statement on the Supplementary Appropriation Bill; and the submission to the Ministry of Finance of the Report on the Medium-Term Fiscal Framework. The chairwoman also outlined the other reports, not legislated, that were prepared including the “Statement of Compliance of the Government with the Fiscal Resilience Act” and the “Statement on the passage of Hurricane Beryl.” The Honourable Leo Cato assured the FROC of the support for its work, particularly in fulfilling the legislative mandates which are guided by the provisions of the legislation.
The Honourable Leo Cato and the FROC exchanged views on the operations of the FROC. The Honourable Leo Cato was therefore updated on the status of the Memorandum of Understanding with the Ministry of Finance and the FROC Charter and Guidelines. Honourable Leo Cato welcomed the Revised Charter and Guidelines which, when shared, would provide insight into the operations of the FROC and would be of significance to the Committee of Privileges.
Information was shared on the Awareness and Public Participation Programme, specifically on the Facebook and LinkedIn pages and the website targeted to be operational in January 2025. Honourable Leo Cato and the FROC exchanged views on features of the website and on other programmes for improving the awareness and knowledge of the Fiscal Resilience At.
In his closing remarks, the Honourable Leo Cato encouraged the FROC to hold fast to the sacrosanctity that has been assigned to the team and to approach 2025 with renewed energy, renewed focus, and drive to be the serious overseers of Grenada’s financial trajectory; and admonished the FROC to always strive for higher standards as he extended his best wishes and God’s blessings to the FROC.
The Fiscal Resilience Oversight Committee thanked the Honourable Leo Cato for making time to engage with the FROC and for his continued support. The FROC extended best wishes to the Honourable Leo Cato as he performs his role as Speaker of the House of Representatives and Chairman of the Committee of Privileges.
Laurel Bain
Chairwoman, Fiscal Resilience Oversight Committee
