Tag Archives: Barbados Economy

The George Brathwaite Column – Sick of the DLP’s Wrong Medicine

Minister of Finance and Economic Affairs Christopher Sinckler will soon give what many Barbadians hope to be his very last budget presentation. The jury is out whether Sinckler with his broad shoulders and knack for political drama, ought to carry the blame for the numerous shortcomings of the struggling Democratic Labour Party (DLP). Prime Minister […]

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The Grenville Phillips Column – The Alternative to Austerity

On 21 April 2017, I attended a public meeting by the Barbados Private Sector Association and was disappointed by their austerity-based solutions to Barbados’ dire economic situation.  The Government, private sector merchants, financial institutions and individual economists are warning us to brace for austerity.  Eight years ago, austerity meant forcing most Barbadians to access their […]

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Acting Governor Cleviston Haynes to Deliver 2017 Six Month Economic Review

Acting Governor Cleviston Haynes is expected to share with the public this week the six month economic review of the Barbados economy. It will be his first major public outing since being elevated to the post of governor of the Central Bank of Barbados.   The controversial circumstances surrounding his appointment continues to be a […]

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RBC Chief Economist Reviews the Barbados Economy

“I think the most important number to watch right now is foreign reserves. Central Bank of Barbados (CBB) online data to February 2017 show that reserves declined by 29% year-over-year (y/y) to USD 329 million, which I estimate at roughly two months of imports. (2) that USD inflows raised from debt (from the development banks […]

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Solutions for Barbados – Put Public Servants on Four Day Week and Cut Salaries…

Submitted by William Skinner As the clock ticks, those of us who refuse to be drawn into the web of deception that is now the main engine driving the ambitions of the Barbados Labour Party and the Democratic Labour Party, can do nothing more than rely on a dwindling number of independent thinkers to save […]

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The Grenville Phillips Column – Prepare for Devaluation

Since the DLP have not corrected the fatal flaws in their economic development plans, and the BLP are unwilling to offer any workable solutions, then if we continue on the current path, devaluation of the Barbados dollar is certainly foreseen.  Based on their past governing experience, Barbadians are unprepared for the level of misery that […]

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Dr. Honohan’s Visit to Barbados

The following Barbados Advocate editorial is reproduced to facilitate discussion on the highly publicised visit to Barbados by Dr. Honohan, former Governor of the central bank of Ireland – Barbados Underground EDITORIAL – WHY DEVALUATION IS NOT THE ANSWER Mon, 04/03/2017 – 12:00am Barbados IN the presentation he made last Thursday evening at the Grande […]

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The Jeff Cumberbatch Column – What Would Barrow Do? [WWBD]?

My friends spit on the government. I do not think is just the government. Suppose all the gods too old, Suppose they dead and they burning them…The Saddhu of Couva -Derek Walcott The current public discourse on governance and the economy is nothing if not a cacophonous babel of contesting opinions. To the few casual […]

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David Estwick UAE 4 Billion Dollar Proposal to Restructure Debt Rejected by Cabinet YET he Voted YES to Appropriations Bill

In January 2014 Minister of Agriculture David Estwick in a surprising move submitted a proposal to Prime Minister Freundel Stuart urging the Cabinet to refinance and restructure the public debt by sourcing 4 billion USD from the UAE. In what is described as the UAE proposal Estwick advised there was interest by the UAE to […]

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The Grenville Phillips Column–Mr. Prime Minister, We Still Have Options

Submitted by Grenville Phillips, founder of Solutions Barbados Dear Prime Minister:  Recently, there have been a chorus of calls from prominent Barbadians, insisting that you call an early general election.  Allow me to offer some unsolicited unbiased advice on this matter. As our Prime Minister, you are responsible for projecting calm during turbulent times, and […]

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Is Prime Minister Stuart Competent to Lead Barbados at this Time?

“The tax haven Barbados is dying just now. The escape clauses in the offshore contracts are activated e.g. in the case of a downgrade to C, financial breakdown or revolution. No foreign investor will come to Barbados now to do any fresh offshore business, since a tax haven must offer financial security. There are multiple […]

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The Jeff Cumberbatch Column – Day of the Double Downgrade

I trust that readers are not misled by today’s caption into thinking that I am writing for a second successive week on the economic misfortunes of Barbados; a circumstance that I chose to refer to last week as “our darkest hour”. As would be widely known by now, Barbados’s sovereign credit rating was downgraded on […]

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‘Home Drum Beat First’ -The Sale of Barbados National Bank by Owen Arthur

For many one of the enduring memories from the Owen Arthur Barbados Labour Party (BLP) tenure is the sale of the Barbados National Bank (BNB) to the Trinidad based Republic Bank Limited. Arthur continues to defend his decision by offering that the BNB was a loss making entity hamstrung by a high level of government […]

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The Grenville Phillips Column – Who Needs to Take Bitter Medicine

Submitted by Grenville Phillips II is the founder of Solutions Barbados Former Prime Minister Owen Arthur has reportedly noted that we need to prepare for some bitter medicine. The Barbados Workers Union has signalled its intention not send its workers to the front of the queue to receive this medication. Fortunately for us, the only […]

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The George Brathwaite Column – Regrets, We All Have a Few: From Mediocrity to Failure

“This parliamentary term envisions a Barbados that is socially balanced, economically viable, environmentally sound and characterised by good governance” (Governor General Sir Elliott Belgrave, the Throne Speech March 6, 2013). It would have been a wonderful thing if the Democratic Labour Party (DLP) Government under the leadership of Prime Minister Freundel Stuart had come close […]

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1991 Replay

It is obvious the governance system of Barbados serves to frustrate citizens clamouring for change as a result of eight years of declining economic performance. We should add that the social landscape has been changing as well be it crime, road rage and other unbajanlike behaviours. The recent public falling out between former Governor of […]

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The Jeff Cumberbatch Column – Our Darkest Hour

They say we gone down de drain, They say no more could we see happy times again ………………………………………………. Now is the time to show we patriotism… – We could make it if we try– Black Stalin Some of the lyrics from the calypso, “We could (sic) make it if we try” performed by Black Stalin […]

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Downgrades … 16,17,18 –Time to Ring the Bell

The credit rating downgrade to CCC+/C by S&P Global of Barbados has come as no surprise to sensible Barbadians. When former Governor of the Central Bank DeLisle Worrell distanced himself recently from government policy of printing money, it confirmed that the rats were jumping ship. The government has been unable to jumpstart the economy since […]

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