Tag Archives: Barbados Economy

Re-emergence of Potholes|Leading From the FRONT

Those of us who experienced the Barbados of the 70s and 80s participated in the transformation of an agrarian economy to service based. We can debate if successive governments have erred by deprioritizing agriculture and manufacturing by giving the international business/offshore sector pride of place to pay the bills. What is irrefutable is that Barbados […]

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Time to REMOVE the VAT

Submitted by Wayne Cadogan Now that the dust has settled regarding the National Social Responsibility Levy (NSRL) I would like to add my two cents to the debate. All countries have always had to depend on taxes to run their country and clearly, the Value Added Tax (VAT) did not accomplish what it was intended […]

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Solutions Barbados’ Response to the S&P Downgrade – The Death Spiral

As expected, Standard & Poor’s downgraded Barbados’ sovereign credit rating yet again, this time to CCC.  As long as the DLP continues to follow their developmental philosophy of high taxation, then further downgrades and eventual currency devaluation are certain.  So what is the solution? First, we need to understand that the DLP’s developmental philosophy has […]

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Trapped in Freundel’s World

Barbados suffered ANOTHER downgrade from S&P Global credit rating agency – long-Term local currency rating to ‘CCC’; ‘CCC+’ Foreign; Outlook Negative. Follow the link to understand the definitions of the S&P credit ratings.   The CCC credit rating is defined as: An obligation rated ‘CCC’ is currently vulnerable to nonpayment, and is dependent upon favorable business, […]

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The Grenville Phillips Column – Support our National Champion

The Hon Christopher Sinckler is Barbados’ Minister of Finance.  He has a most challenging responsibility.  He must consider competing interests and prioritize the spending of limited funds.  He must also be careful to respect the concerns of sovereign rating agencies, creditors, and the International Monetary Fund.  Concurrently, he must defend his decisions in Parliament. Mr […]

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Economist Marla Dukharan’s Advice to Barbados, ‘Pick Your Poison’

It is the opinion of BU the resonance of economist Marla Dukharan’s with the local population is not because she brings any fresh analysis to the fore. The reason is because she is perceived as an independent voice to be trusted. Her lucid commentary on local and regional economies which started when she was Chief […]

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Barbados Losing the War

Of recent North Korea’s supreme leader Kim Jong Un has become the focal point of USA’s foreign policy. Not long ago it was Saddam Hussein of Iraq, a country that was invaded based on a lie. There were no weapons of mass destruction stupid!  The wonton destruction of property dated  to the  period of Babylonia […]

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The Grenville Phillips Column – Staring Into the Abyss

The Institute of Chartered Accountants of Barbados recently hosted economist Ms Marla Dukharan, who determined that Barbados’ debt to GDP ratio was an insane 168%.  This places us as one of the most indebted nations on the planet.  To put this in perspective, the maximum limit which the IMF warned us not to cross in […]

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The George Brathwaite Column – Hybridity and Discipline

Last Wednesday, the Institute of Chartered Accountants of Barbados (ICAB) hosted a Public Forum on the topic Home Grown or IMF designed: What should Barbados’ economic recovery plan look like? The main speaker at the event, held at the Savannah Hotel, was the economist Marla Dukharan. Without a doubt, Miss Dukharan was impressive and the […]

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The Grenville Phillips Column – Blinded to the Obvious

I was hopeful and excited before the recent meeting of the Social Partnership.  All sides recognised that we were on the brink of economic ruin and they were anxious to find an effective solution.  They could not wait one more week.  Therefore, I highly commend the Government, Unions and the Private Sector for putting Barbados […]

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Barbados’ 2017 Six Months Economic Performance Labeled as ‘Uneven’

The Barbados economy registered an uneven performance during the first half of the year. Preliminary data suggest that the expansion in real economic output continued into the second quarter, primarily reflecting sustained growth in tourism activity. The fiscal deficit narrowed moderately in the first quarter of fiscal year (FY) 2017/18, partially the result of the […]

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The Grenville Phillips Column – When They Fail, We Suffer

Our elected politicians are supposed to represent us.  When they fail in that primary duty, then the rest of us must suffer – grievously.  However, we do not simply suffer the damaging consequences.  We must also be over-taxed, not to pay to permanently fix the problems that were created by their failures, or to only […]

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The George Bathwaite Column – Things Are Falling Apart

The current Government is an abject failure. Barbados is hurting and things are falling apart! The preceding simple sentence prompts many questions as to how and why; and triggers assertions extending from individual competence to the heartlessness of the representatives. To save face, some will postulate that if there was no global recession, and if […]

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The March to Déjà vu

The Act will require every person who is a ‘person in public life’ when the Act comes into force to make an initial disclosure to the Commission within three (3) months of the date of commencement of the Act. In the case of a person who becomes a ‘person in public life’ after the commencement […]

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Another Heather Cole Column – We Need Solutions to We Big Problems

“Babylon system is a vampire sucking the blood of the suffers.” Bob Marley A drought causes cracks in the soil exposing what is beneath the surface of the earth. It seems that a 9-year drought in Barbados has exposed every problem that laid dormant in its society. Barbados has a crime problem that if not […]

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A Country In Limp Mode

For eight years the country has been gripped in an economic recession – negligible growth notwithstanding in a quarter here and there – although it feels like a lifetime, an unaccustomed position for thousands of Barbadian if we count from the last major economic crisis of the early 90s. Clearly Barbadians- judging by how we […]

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Caribbean and Latin American Accidental Leaders in a Race to the Economic and Social Bottom of the Barrel

Submitted by Jerome May Today two once great nations find themselves in the hands of men who became government leaders by default. Leaders who first occupy their current positions due to unforeseen life circumstances namely the passing away of their bosses. Interestingly share a few key similarities I would like to call-out for thought: Both […]

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The George Brathwaite Column – Need for Growth Strategy

Fundamental changes to the way we organise production in Barbados, support productive activity, treat domestic and foreign investment, conduct the affairs of our corporations, organise and utilise our labour force and use technology and information will have to be made if we are to succeed in the post-2005 global economy. – (Prime Minister Owen S. […]

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