delisle-worrell

No Tears for the Central Bank Governor

Submitted by Heather Cole

Submitted by Heather Cole

Don’t cry for him Barbados

The truth is he never loved you

During these wild years

He kept his promises to the DEMS

So you keep your distance!”

Perhaps a rewrite of the famous song about Eva Peron is in order with the above sentiments expressed by Barbadians. Clearly the bromance that never was, between the Minister of Finance of Barbados and the Governor of the Central Bank of plotting and overseeing the economic demise of Barbados is over.

Barbados Today reported that the fall out between the Governor and the Minister of Finance was with regards to the Governor’s inability to explain the country’s diminishing economic fortunes and rising administrative tensions within the Central Bank.

Again perhaps the economy has taken its final turn for the worse and is on its official death bed and the dreaded devaluation near. The blame game is underway with the Minister of Finance trying to squarely push the responsibility for failure of the economy on the Governor. The Governor clearly does not wish to be the fall guy. His strange action to avert blame from himself by appealing to the Court of Law against his dismissal is indeed cause for comment.

On one hand we had a governor who was a willing accomplice of this administration at every turn for the last 8 years producing alternate facts in speech, actions and data in support of the policies of the government. It is not that some of his economic policies were successful. He has a long list failures and unethical practices. He sold junk bonds to an unsuspecting public, scrubbed the Central Banks website of data and frequently produced data to paint the economy in a positive light. His action of holding $5 million in the Central Bank for Leroy Parris was illegal. He incessantly printed money, offloaded funds to Bjorn Bjerkham who should never have been appointed to any public board in Barbados. Let us also not forget his attempt to practice nepotism. Then it was the matter of the many economic downgrades that affected the country’s credit rating.

He supported and never admonished the Minister of Finance for his reckless economic onslaught against the people of Barbados. The Governor’s actions not only affected the economy but in extension endangered the livelihood of many Barbadians as it was also indirectly responsible for job loss. He did not perform as a Governor of a Central Bank but as a piggy bank for the Minister of Finance. His actions created capital flight and a scarcity in foreign exchange. Our currency has already been devalued in the eyes of our eastern Caribbean neighbours’ and Guyana.

In another place and another time his actions against the state would be tantamount to treason. This now reminds one of Cardinal Wolsey’s fall from grace when he failed to secure the kings wishes. So what did Mr. Sinckler so desperately want that the Governor could not provide that led to his firing? Was it more than what was stated above?

He has damaged his credibility as a practicing economist and brought shame to the title of Governor of a Central Bank. He sold out the livelihood of the people of Barbados and on reflection the People of Barbados should be taking him to court. His actions are at loggerheads with his profession he has not provided sound economic advice to support the economic growth of Barbados through monetary policy. That is the sole purpose of his job.

No one should be even a bit unhappy to see him removed as Governor of the Central Bank. He is now like a product on the shelf that is long past its expiry date. It will be a sad day if the Court rules in favour of the Governor of the Central Bank as it would be, even at this late stage legalizing the economic death of the island of Barbados by giving an unfit Governor the right to continue to destroy the economy.

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303 Comments on “No Tears for the Central Bank Governor”

  1. de pedantic Dribbler February 19, 2017 at 1:48 PM #

    Steeupse! Mr Blogmaster…this is surely one way to achieve Moore’s law…Carl Moore’s that is. Staying off the blog.

    Like

  2. David February 19, 2017 at 2:14 PM #

    @de pendantic Dribbler

    You need to be patient and let us work through the problem. Maybe you like to change your nom de plume too frequently…lol.

    Let us try this -BU will place you on moderate starting now. Post a couple comments which we anticipate will be redirected to modQ and then we will remove. Let us see if if the spam engine responds favorably.

    Like

  3. Piece Uh De Rock Yeah Right - INRI February 19, 2017 at 2:17 PM #

    Some time back de grandson did this and he send de ole man dis update today.

    A few have shared here and elsewhere that “there is a likkle truth” in the Stoopid Cartoon posters.

    He is a good feller, if you call mekking stoopid cartoons “ggod” heheheheheheheh or i should say useful, to give a visual interpretation to these things ecclesiastical, and i hope de peeple where he working doan find out who he is and mek he loss he pick.

    Like

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