Leader of the Opposition Mia Mottley staged a press conference to respond to the Governor of the Central Bank’s 6 month review of the Barbados economy. If the average Barbadian wasn’t already beaten into a state of disillusionment by the contracting economy compounded by a perceived inert government, Mottley’s recent offering made the condition more acute. If there is one thing the current political debate on the economy has demonstrated is the number of intellectuals Barbados has educated who can wax lyrically about what should or should not be done to improve the economy of Barbados. Bear in mind global economies are experiencing an economic condition which has never* been experienced in world history.
BU listened to the 54 minute press conference with rapt attention. Whether you are a B or D there is the reality we are all Barbadian* and want to see Barbados successfully navigate the current social and economic challenges which are confronting us. Mia Mottley represents the ‘government in waiting’ (no disrespect intended to the PDC or PEP) and therefore should be accorded commensurate respect. It therefore saddens BU to opine that her press conference can be easily labelled ‘same old, same old’. She was passionate in her delivery, her analysis of the current state of the economy was good but* where she fell flat was her failure to produce ideas and alternatives. Her delivery was populated with words like deficit, declining revenue, underemployment, stimulus, borrowing, substantial drop, 18-wheeler truck bearing down on us etc – obviously to play on the fears of Barbadians. When asked by a reporter to offer suggestions to the government on what a BLP government would do differently in a sprite of bipartisanship (BU’s paraphrasing), Mottley’s response was to ‘stay tuned!’. She begged the media to provide adequate coverage because her opposition party intended to provide feedback sector by sector. On this note BU agrees that the Caribbean Broadcasting Corporation’s blatant blacklisting of the opposition party is reprehensible.
Ms. Mottley the country is waiting for some suggestions with great expectation, do take your time!
Another observation which attracted BU’s attention is Mottley’s focus on the rising current account deficit up to May 2010. Can someone explain how a country that is reliant on tourism and foreign direct investment is expected to grow in a global recession? Ms. Mottley tell us how you would manage the economy differently. BU remembers joining with you and Professor Avinash Persaud (an advisor) to pressure the government 1 year ago to rollout a significant stimulus package. Would that approach not have added to the debt burden given the protracted nature of the global recession?
If Mottley’s message to Barbadians stood any chance of resonating her constant reference to comparative analysis in the periods pre and post global financial meltdown smacks of being disingenuous. All* developing countries (and developed) are experiencing economic hardship at this time. Some may holdup the economies of Singapore, Mauritius, Hong Kong and others as beacons of success in the current environment but we all know the fundamentals of those economies were on firm footing before the meltdown.
Sadly Mottley and her crew continue to support an economic model which is built on selling land to realise foreign direct investment to fill the gap in government revenue and expenditure. The fact that government’s high expenditure is propped up by fiscal indiscipline, mediocre productivity and a desire to feed a lifestyle which is hungry to consume all that is foreign means nothing* to Mottley and her crew. Mottley was part of a government for 15 years which did anything significant to encourage the nascent industries of renewable energy and the cultural industries. Perhaps the time has come to suck up the pain and take some economic casualties.
Ms. Mottley, our runaway lifestyle cannot* be supported by selling our most precious commodity. Maybe some of us could tolerate leasing but not selling. You and your party need to come with ideas which address how Barbados can dismantle the existing economic model which is clearly not sustainable in a global economy.
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