Tag Archives: Central Bank of Barbados

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 Caswell Franklyn Column – Prime Minister Come Clean on the Sacking of Governor Worrell

Today I intended to write about the functioning, or rather, the non-functioning of the system that was set up by the Employment Rights Act to settle disputes, particularly claims for unfair dismissal. I wanted to point out that it is at best amateurish and that it is failing miserably to meet expectations. But I felt […]

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The Jeff Cumberbatch Column – Enjoining a Dismissal

Wonderful to relate, or “mirabile dictu”, as my two Latin masters of long ago, Messrs. Wellington and [CQ] Williams, would have preferred, I do not find it necessary today to resume my analysis of the Trump presidency; a phenomenon that seems anyway to be imploding towards self-destruction. Moreover, there is sufficient drama being played out […]

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Government Between a Rock and a Hard Place With General Elections Looming

Submitted by Inkwell 1. Consider this argument. The Central Bank (CB) Governor has refused to print any more money for the Minister of Finance (MOF). The MOF needs printing to continue to pay civil servants and keep Government running. If the Government can’t pay the civil servants this month, all hell will break loose. Therefore […]

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Barbados Needs a New Government Not a New Central Bank Governor

It is clear to me that the Freundel Stuart Administration is looking for a scapegoat for its 8 year long and continuing abysmal economic performance, and has decided that Dr. Delisle Worrell is to be that scapegoat. Let us be very clear about this— in the real world of politics neither a Board of Management […]

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No Tears for the Central Bank Governor

“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 […]

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Governor DeLisle Worrell Warns Foreign Reserves Continue to Fall

The Barbados private sector agency has raised the alarm that their members have had to wait for foreign exchange to be released from commercial banks to honour purchase requests. This is not good news for Barbadians who have had to tighten their belts for eight long years. Have we not been boasting of record arrivals […]

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The More Things Change

The following column written by Dr. Clyde Mascoll was extracted from the Nation newspaper. BU agrees with the author. ONLY TWO of the major sectors in the Barbados economy have grown in the last eight years […]

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The Governor’s Acid Test

Submitted by Heather Cole (The Barbados Lobby) We often think that some of the subjects that we took in High School and College are a waste of time and not practical to use in everyday life since we never used them again. My last interaction with chemistry […]

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Is Governor Delisle Worrell Preparing Barbadians for a Contraction in the International Reserves?

The Governor of the Central Bank Delisle Worrell posted a full colour page in today’s media titled “More Foreign Reserves are not Necessarily Better”, the thesis of which is,  “Countries should maintain foreign exchange reserves sufficient to allow time to adjust to the vagaries of international markets, so that banks and traders do not become […]

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Rush for Savings Bonds

Sometimes one has to wonder. The media and analysts have been mostly silent to explain reports two 10 million and one twenty five million savings bond issues have been fully subscribed within hours of being floated. The recent decision by the Central Bank of Barbados to remove the regulation to pay Barbadian a minimum savings […]

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Sack Worrell and Sinckler

In May this year Governor Delisle Worrell issued a directive to ban the Nation newspaper from participating in press conferences hosted by the Central Bank of Barbados. His action provoked wide condemnation from every corner within in civil society. The Governor and Central Bank obviously yielded to the pressure and public expectation reverted to the […]

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Walter Blackman’s Perspective on Devaluation and ‘Printing Money’

As a result of the perilous state of the Barbados economy, accentuated by a recent 3 notch downgrade by Moody’s and a follow up visit in June by the IMF after a worrying Article IV Consultation in December 2013, the conversation about devaluation and management of government debt has become a topic of national interest. […]

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Central Bank and the Nation Newspaper – Bank Regulator and Media House

The Central Bank of Barbados respects and embraces freedom of the press and the importance of the dissemination of timely and accurate information and as such has not banned the Nation Corporation. The front page of the Sunday Sun of May 11, 2014, carried the headline “Cut Off”. The Bank assures media practitioners in Barbados […]

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Caribbean Capital Reserve a Total SCAM

Submitted by Due Diligence Thanks for the heads up on the CCB alert about Caribbean Capital Reserve. Thanks also to Hants for encouraging me to dig deeper than just posting the bio for Sir Jimmy from the CCR website. Barbadians are known for having short memories, the recent eruption about lack of transparency in the […]

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Central Bank of Barbados: Political Tool or Facilitator of Economic Development?

Submitted by the Mahogany Coconut Think Tank and Watchdog Group We are not a bit surprised that former Governor of the Central Bank, Sir Courtney Blackman is blaming both the Barbados Labour Party and the Democratic Labour Party for the current financial woes. We are also not surprised, that the current Governor, Dr. DeLisle Worrell, […]

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Notes From a Native Son: Has the Central Bank Failed to Give the Nation Any Direction on Economic Recovery

Introduction: The governor of the Central Bank appears quite clearly to have lost all sense of balance as far as the local economy is concerned. Not only has he been in office for the last five years or so, he is yet to come up with a publicly available reasoned and detailed plan for rescuing […]

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Notes From a Native Son: Before Voting, think with your heads and not your hearts

Introduction: When the voters of Barbados enter the polling booths on Thursday, it will be an enormous challenge for them to abandon old political tribal loyalties and objectively put the nation, future generations and their own futures before irrationally supporting a party or candidate they have always supported, while suspending reason. The harsh truth is […]

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