Deficit Committee of the Social Partnership Recommends Entering an IMF Program Supported by Aggressive Privatization and Rationalization of SOEs

Given the comatose state the Barbados economy continues to be gripped, let us continue our steely focus on the economy although this task will be made difficult with the Crop Over season firing up.   It is important to add that a deteriorating economic landscape will continue to have a deleterious effect on the social well being of our nation. The perception index of the state of crime and poverty for example is on the rise. Despite our level of academic achievement as a country- of which we frequently boast- as a people we appear to lack the acumen to dispassionately discuss serious issues without invoking political rhetoric (bile) -a  contradiction.

Yesterday Minister of Finance Chris Sinckler was strident in his public admonition of Barbadians. He is of the view nobody has offered reasonable alternatives (BU hesitates to use the word solutions) and the government policy prescription is the more palatable of those available.

Here is a copy of the Deficit Committee of the Social Partnership that was presented to the Government six weeks before the Financial Statement Budgetary proposals now made public. BU will reserve comment on the document except to suggest to effectively remediate a problem (s) the underlying or causal factors must be addressed. To be fair to the Deficit Committee it would have been constrained by the brief it received.

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101 Comments on “Deficit Committee of the Social Partnership Recommends Entering an IMF Program Supported by Aggressive Privatization and Rationalization of SOEs”

  1. Alvin Cummins June 18, 2017 at 9:26 AM #

    David,
    The government is not going to the IMF, period.

    Like

  2. Artax June 18, 2017 at 9:26 AM #

    @ Angela Skeete

    Must you demonstrate your ignorance, lack of thought and “yard-fowlism” on a consistent basis in this forum?

    What is the “difference in magnitude” between privatizing the BNTCL and, for example, the National Petroleum Corporation (NPC), GAIA or the Barbados Port Authority?

    Additionally, in January 2014, the abysmal failure as a Minister of Finance, Christopher Sinckler, is on record as saying your inept DLP administration was “currently reviewing the functions of 19 statutory corporations with a view to CONSOLIDATING their operations.”

    “The final report will be presented to Cabinet shortly and implementation, following wide and intense discussions with all of our social partners, will commence in April, 2014,” he stated.

    “He added that, of those 19 institutions, “Some will GO OUT of BUSINESS, others will MERGE with each other and perhaps where it is feasible and makes sense for private involvement in the operations of any of those institutions that will be undertaken as well.” [Source: Caribbean News Now: January 9, 2014]

    If your inept DLP administration is thinking of CLOSING and MERGING some statutory corporations, “would [it not] impact hundred of daily lives being that there would be a grave injustice of laying off of workers?”

    “Would [it not] impact hundred of daily lives being that there would be a grave injustice of laying off of workers,” if your inept DLP administration were to CONSOLIDATE or MERGE the operations of The National Assistance Board, Rural Development Commission and Urban Development Commission?

    Like

  3. David June 18, 2017 at 9:36 AM #

    @Artax

    It is clear rationalizing the SOEs is out of the question with 8 months to go. Another empty promise by the MoF.

    @Alvin

    Going to the IMF will be a function of the state of the economy that is influenced by exogenous shocks. That is outside of the control of the government.

    Like

  4. millertheanunnaki June 18, 2017 at 12:36 PM #

    @ Alvin Cummins June 18, 2017 at 9:26 AM
    “The government is not going to the IMF, period.”

    We wish you the best of health to live a few more months to see you eat those very words.
    Words you similarly had to eat with the layoff of public sector workers and your DLP administration’s current passionate haste to privatize as if there is a fire sale.

    Sir Erskine said the same thing when he loudly declared the economy of Barbados was batting like Sir Garry and firing on all cylinders.

    So if the IMF was the country’s forex lender of last resort when all engines of economic growth were performing ‘optimally, what do you think is going to happen to Barbados now that there is only one cylinder sending fire to the sputtering mono engine?

    What are you going to do if you do not want pay a visit to Dr. IMF?

    Sell your naked donkey to the Chinese to grow more stupid like you did under the Union Jack but on this occasion under a communist yellow yolk of serfdom?

    Like

  5. Vincent Haynes June 18, 2017 at 1:20 PM #

    Miller

    I really wonder about these operatives,especially Alvin……is he not aware that his boss is presently laying the wicket for the entrance of the IMF.

    Like

  6. Well Well & Consequences Observing Blogger June 18, 2017 at 3:39 PM #

    This is why Mia Mottley can never be trusted, she insists on playing both sides against the middle.

    Her concern should be the over 70,000 black voters, most of whom are paid minimum wage fir decades by the same parasitic business people, the same disenfranchised black voters whose votes she needs since there are not enough minority business people to elect her to parliament.

    Like

  7. angela Skeete June 19, 2017 at 6:11 AM #

    you quote a consideration made by the Minister of Finance which he made in 2014 . So what is your point ? the fact being which has not happened , However as sensible Barbadians listened to the mouthing of the BLP leader and operatives there are very aware that the BLP are still dead set on wholesale privatization of govt entities which have provide jobs a mantra which the blp has been singing for the past seven years followed recently by a chorus of IMF serving. None of which Barbadians have an appetite

    Like

  8. Artax June 19, 2017 at 7:09 AM #

    As a DLP operative and yard-fowl, you are using this forum to commence the DLP’s campaign, which, based on your comments, consists of political rhetoric, innuendo and untruths.

    My point is, in November 2016, Sinckler also made it clear that “while his Government is not fundamentally opposed to privatization, some services will remain under the control of the State no matter what.”And in his recent Budget presentation he mentioned about the rationalization of statutory corporations.

    You are being disingenuous and “maliciously hypocritical” to suggest Mottley made specific references to government entities that would be privatized under a BLP administration, when you know that is not true and you also know both BLP & DLP mentioned that privatization has to be a considered option.

    Also, in response to the proponents of privatization, Sinckler has been asking them to name the statutory corporations they would privatize.

    However, for reasons to suit your political agenda, you are also implying whereas a process of privatization under the BLP would result in the loss of “hundreds of jobs,” privatization under the DLP would not.

    Like

  9. angela Skeete June 19, 2017 at 7:45 AM #

    Ok Artax you got it right this time for the same reasons that the people in the last election rejected the notion of Privatization of govt entities namely transport board and sea and airport which was named by the blp as being correct to be placed on the Privatization chopping block. The only person being disingenuous is you . The people of barbados are aware of the economic pressures the country is under and the govt is also aware that the prescription of wholesale privatization which was recommended by the blp would put many household under severe financial pressure and collapse the social enviroment of the country.
    So dont come here pretending that the blp has never presribed such recommendations.
    The last budget was an assurance that govt workers would not be jobless despite the hue and cry generated by self interest attached to the blp and others who see countries interest of no interest unto themselves

    Like

  10. angela Skeete June 19, 2017 at 8:06 AM #

    Artax so you can hee and haw all you want unless you can present tangible proof that govt has privatized any entity that has slashed workers your reference to Sinckler 2014 comment rings hallow and does not dismiss the BLP past and present recommendations of Privatization which if activated would affect thousands of household.
    Barbados is going through an atmosphere of economic changes and challenges having to live up to the standards of a global community which requires plenty if money to sustain
    Gone are the days of coal pots and donkey carts which require little or no financial maintenance to sustain
    Barbados is now being caught in a whirlwind of extreme demands internally and externally and debts balloned by interest rates which must be paid and alternatives which are painful but must be done
    Govt have effortlessly tried to limit the pain despite the objections of some political quaters to do more. These objectors knowing full well what the outcome would be and the high cost placed on the backs of the society
    The blp at the eleventh hour is trying to hide the fact that they were advocates of wholesale Privatization but too little too late Prvitazation would remain a thorn in the back of the blp along with their new found chorus of IMF analogies

    Like

  11. Artax June 19, 2017 at 8:33 AM #

    I anticipated your comments and that’s why I purposely mentioned Sinckler, because I knew it would have gone over your head.

    If Mottley had MENTIONED SPECIFIC government entities that would be privatized under a BLP administration……….

    ………..why would Sinckler CONTINUALLY ASK the BLP to NAME the statutory corporations they would privatize?

    That the question you need to answer, rather than spewing your usual nonsensical political diatribe.

    It was for reasons of political expediency that the DLP mentioned the Transport Board and Sanitation Service Authority, because they know the emotion mentioning these entities and privatization “in the same breath” would evoke.

    And you are risking the same thing in this forum.

    Like

  12. angela Skeete June 19, 2017 at 10:49 AM #

    Hell No i am not risking any thing. I am just stating the truth.
    However you are trying to control and confused the issue knowing better.Going into the upcoming election the blp is trying to used a method of bait and switch on the Privatization issue against govt.and the people would not be fooled

    Like

  13. Artax June 19, 2017 at 11:29 AM #

    I engage you on issues for the main purpose of making you and other contributors aware of your ignorance.

    You are definitely correct by mentioning: “Going into the upcoming election the DLP is trying to use a method of bait and switch on the Privatization issue not only against the BLP, but the entire Barbadian electorate, and the people would not be fooled.”

    And this is evidenced by the fact that Sinckler and the DLP have been “dilly dallying” around the privatization since 2013, WITHOUT giving any “clear definitive perspective” on the issue except to say “government has not closed to door to privatization.”

    Campaign strategies such as the Transport Board privatization ad will not work this time around. Barbadians are fed up of the BLP and more so, the DLP.

    You constantly spewing nonsense about Mottley and a LEC or trying to convince us that there would be fundamental differences between a DLP privatization program and that of any other political party are issues that are attractive to yard-fowls.

    Surely you should realize by now that intelligent people discuss issues in this forum and will not be persuaded by your political diatribe to think otherwise.

    Like

  14. angela Skeete June 19, 2017 at 12:36 PM #

    Surely you would realise by now that your opinion does not make any difference to me .which begs the question why do you waste your time responding
    And surely it should be obvious by now that given the outcome of thest election the majority of people does not agree with u
    So bro take a well deserved hick.

    Like

  15. David June 19, 2017 at 12:38 PM #

    @Artax

    Your point is well made.

    Like

  16. Vincent Haynes June 19, 2017 at 1:12 PM #

    David

    The Nation today Pg 8….The Wild Coot…gives the reason why this govt will not go to the IMF and what is in store for us over the next nine months.

    Worth reproducing.

    Like

  17. Vincent Haynes June 19, 2017 at 4:38 PM #

    Some of the Budget proposals are set to take effect on July 1, 2017.
    Sinckler to meet private sector on Budget concerns | Loop News
    Minister of Finance, Christopher Sinckler, will meet with a number of organisations over the next two days to discuss concerns relating to the…
    loopnewsbarbados.com
    http://ow.ly/2enW30cIMnv

    Like

  18. Vincent Haynes June 19, 2017 at 4:39 PM #

    Interesting.
    BWU summons public workers to meeting
    THE BARBADOS WORKERS’ UNION (BWU) is summoning all public workers to a meeting on Tuesday evening at 3 p.m. at Solidarity House.According to a media release, the…
    nationnews.com
    http://www.nationnews.com/nationnews/news/97914/-bwu-summons-public-workers-meeting

    Like

  19. millertheanunnaki June 19, 2017 at 5:24 PM #

    @ millertheanunnaki June 19, 2017 at 4:36 PM

    What do these people expect from the meetings other than to be treated like the sub-committees of the private Sector Umbrella Association and their recommendations for fiscal deficit reduction and the badly needed economic growth instead of a more depressingly consuming spiral of further austerity measures?

    The outcome of these meetings would be analogous to the Fowler-led band of BIPA naïve children running behind a reverse a pied piper of Pinocchio lies called the Stink liar who promises they will receive settlement by September 30, the Twelfth of Never ending.

    He could as well come clean, and before he applies for enrolment in the priesthood, tell the people the truth, the whole truth and nothing but the truth, so help him God.

    There is nothing he can do to reverse the ‘sticky’ wicket that has been prepared for the IMF to bowl on. He is just following instructions from overseas to ensure the soon-to-arrive managers do not have to wield to big an austerity stick.

    Like

  20. millertheanunnaki June 19, 2017 at 5:28 PM #

    millertheanunnaki June 19, 2017 at 5:24 PM

    Should be:
    @ Vincent Haynes June 19, 2017 at 4:38 PM
    “Minister of Finance, Christopher Sinckler, will meet with a number of organisations over the next two days to discuss concerns relating to the…”

    Like

  21. Vincent Haynes June 19, 2017 at 5:42 PM #

    Miller

    The key to our present situation lies with the Union meeting……his meeting, as you pointed out would be a waste of time.

    Will they….or wont they……The Unions……shut the country down untill application is made to the IMF or elections are called.

    Read Wild Coot…..he has made it pellucidly clear as to the political game this inept party is playing with the citizens of Bim and why they refuse to go to the IMF…….isn’t amazing how he is never challenged with a law suit.

    Like

  22. David June 19, 2017 at 6:22 PM #

    We can rollout all the policy initiatives and prescriptions we want if there is no confidence by the players who have to drive the economy i.e. the private sector that Jepter Ince is cussing there will be no recovery.

    Like

  23. vincent haynes June 19, 2017 at 7:12 PM #

    David

    Can you put the Wild Coot link?

    Like

  24. David June 19, 2017 at 7:37 PM #

    @Vincent

    Don’t see the link online.

    Like

  25. Artax June 19, 2017 at 7:40 PM #

    Angela Cox-Skeete

    And it also “begs the question WHY DO YOU WASTE YOUR TIME RESPONDING TO ME?”

    I DON’T CARE if my opinion does not make any difference to you, because you are INSIGNIFICANT to me and to many other contributors to this forum. You are such a yard-fowl jack-ass that I doubt even you are aware of your stupidity.

    Any time spent highlighting and making you and the other semi-illiterate DLP yard-fowls aware of your stupidity IS TIME WELL SPENT. But it’s obvious from your responses I’m SUCCESSFUL in achieving that objective and my responses hurt your fragile feelings.

    Changing your name from “AC” to stinking Angela Cox-Skeete has NOT improved the QUALITY of your silly contributions. YOU ARE STILL RECOGNIZED BY EVERY CONTRIBUTOR AS BU’S RESIDENT DLP YARD-FOWL IDIOT. IT’S A PITY YOU DON’T HAVE ANY SHAME.

    The DLP won the last elections 16-14…. and you’re mentioning that “the outcome of the last election the majority of people does not agree with (me),” especially when the voter turn-out was extremely low?

    Stupse!!!

    Everyone who reads BU knows that you are jackass, semi-illiterate DLP yard-fowl who cannot compose a proper sentence and there isn’t anything you can contribute to this forum that would influence anyone to vote for the DLP.

    Obviously you MUST respond………….. you can’t help it!!!!

    YOU SHOULD TAKE A BREAK FROM BU.

    Like

  26. Gabriel June 19, 2017 at 9:18 PM #

    Artax
    You should ignore the trollers.Do not take their bait.If I know them well they will start responding to themselves.

    Like

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