Former Prime Minister Lester Bird claimed in his Throne Speech in 2003 that the International Monetary Fund in its report of March 2003 on the OECS countries had urged all member-governments, in the context of the global economic slowdown to privatise state-owned assets to meet their obligations.
He said that the government after compulsory acquisition should sell the property (HMB) to a serious investor with the proven resources to develop a high quality property. He confirmed three such potential investors as Saul Kerzner of South Africa's famous Sun City and Atlantis at Paradise Island in The Bahamas, Mr William B Johnson founder of Ritz Carlton Hotels, and Mr R Allen Stanford whose investments were already well known.
