SVG PM Dr. Ralph Gonsalves announces ‘COLA Special’ in response to high cost of living

St. Vincent and the Grenadines Prime Minister Dr. Ralph Gonsalves has announced a cost-of-living initiative aimed at supporting 3,000 vulnerable households over three months. Beginning in December 2024, eligible households will receive a monthly allowance of $175, referred to as “COLA Special.”

This announcement was made during his address on the 45th anniversary of the country’s independence from Britain. Gonsalves emphasized that the initiative is means-tested and targets those particularly in need. “This will cost for the three months, EC$1.575 million (One EC dollar=US$0.37 cents) or EC$525 monthly,” said Gonsalves, adding that the program will be executed by the Ministry of National Mobilization.

Prime Minister Gonsalves said the government will evaluate this program after the initial roll-out, with a view to a possible continuation further into 2025. As has been the case for over a decade, Gonsalves used the speech to make a series of “announcements”, several of which were not new. The independence address could be the second to last before general elections, which are constitutionally due by February 2026 but are widely expected before the end of 2025.