(1) With the approval of Parliament the Minister responsible for finance may guarantee, in such manner and on such conditions as he or she may think fit the payment of the principal, interest and other charges on any authorized borrowing by Export Saint Lucia. (Amended by Act 8 of 2019)
(2) Where the Minister responsible for finance is satisfied that there has been default in the payment of any principal or interest guaranteed under this section he or she shall direct the repayment out of the Consolidated Fund the amount in respect of which there has been such default.
(3) Export Saint Lucia shall make to the Accountant General, at such times and in such manner as the Minister responsible for finance may direct—
(a) payments of such amounts towards repayment of any sums issued in fulfilment of any guarantee given under this section;
(b) payment of interest on what is outstanding for the time being, in respect of any sums so issued at such rate as the Minister responsible for finance may direct and different rates of interest may be directed to different sums and for different periods.
(Amended by Act 8 of 2019)