Prime Minister Fruendel Stuart, Good Governance Starts With Transparency

Submitted as a comment by Crusoe to the Prime Minister Fruendel Speaks To The Nation, AGAIN blog

Prime Minister Fruendel Stuart

The diatribes above actually do contribute to good exchange of banter, even if politically motivated. The above highlights what the ‘average Joe’ is very annoyed at, such as unexplainable project expenditures, lack of transparency and accountability and a complete disregard of voter wishes.

As Halsall has referred to, this administration committed, yes  committed, to a Freedom of Information and Transparency Legislation on its entry into this term. There is no excuse for the delay in this. They got the Judicial Legislation changed for their appointee fast enough.

Secondly, cost overruns etc. have not been explained and no attempt has been made to enable this nor to enable explanation and evidence of future projects for the average voter. As government is supposed to represent the people for the good of the country, this is a disgrace, by both parties.

Thirdly, while the current administration supports running on about 3S, it must be noted that the marina project appears to have been given to the highest bidder, amidst resignations from the independent directors of the same project. Without due explanation and with an impending legal case as a result, from an alternate contractor, that is highly worrying from a voter perspective and does not give that ‘warm and fuzzy feeling’ that a citizen should have  on his taxpayers monies being spent well. Is this another botched project? Slated to cost 700MM but will probably eventually cost 1.2Billion?

On the Four Seasons Project and the Pickering project, how much of the loan that I suspect Stuart is in the process of arranging from China (my speculation ONLY, but the next three months will tell), is to jump start these projects and how much to ensure Barbados has adequate cash flow for the next two years?

Should Government be sinking money into projects to fund private concerns or should Government merely provide an enabling environment for same?

This administration, as Opposition criticized GEMS, but any guarantee or direct support into such as Four Seasons will serve the same result. We still do not have public declaration on all of the costs and expenditures on GEMS remember.

Lastly, if indeed, as I merely speculate, Government is in the process of borrowing from China, it should be stated clearly and in advance, rather than after the fact, as it is significant in contributing to the state of our foreign balance of payments and loans profile. Just saying. But maybe and hopefully I am wrong, I am saying IF…and IF so, it must be declared before the fact!

As Halsall says good governance starts with transparency!

47 thoughts on “Prime Minister Fruendel Stuart, Good Governance Starts With Transparency


  1. The Pierhead Marina issue will be the scandal to take centre stage during the next elections. It is a new and worry level of political interferance in the awarding of contracts and is so perverse that some people involved could be and should be damaged forever.


    • There is a growing feeling, especially those who have become disillusioned with politics in the last 20 years that transparency in government is the key to winning people over and importantly getting more people involved in our system of democracy.

      We have to hold our political leaders and others in civil society hands to the fire. For too long they taken the people for granted. Remember they are elected to serve us.


  2. @David

    In an era of greed, corruption, lack of integrity and accountability, mediocrity, public passivity, deceit, deception disillusionment, disappointment, low morals and values, non-intergenerational communication, partially failing education and crass media manipulation……the question remains…how?


  3. Has anyone realise that Jamaica PM has joined the choir to give Barbados a tongue lashing? Whatever the incident is this time around it leave me to ask again, does Barbados has a comprehensive regional foreign policy that is working? How come it seem that in order to get Barbados Foreign Ministry attention on a matter the regional governments have to resort to the media and shout it across the seas?
    Can a country progress effectively without listening and addressing it’s neighbors concerns?
    It must be said that the ineffectiveness of coherent and decisive strong leadership in any country will show a disarray of rambling followers and a band of rogue civil servants. This is no more than a classic case of ” the head sick so the whole body is sick”.


  4. @DLP and its yardfowls
    May I remind you of your contract with the electorate, as promised in the 2008 manifesto “Pathways to Progress”
    “The DLP administration’s attitude to accountability will be based on the understanding that as servants and representatives of the people there can be no secrets or matters to be hidden from the population.
    Consequently, a DLP administration will be accountable for its actions and policies
    and take the public into its confidence.
    Under a DLP government, the people will be kept informed of what the government is doing on their behalf through:
    • Regular press briefings following meetings of the Cabinet of Barbados
    • Press briefings by Ministries/Departments
    to inform Barbadians of major developments and changes
    • The publication of details of agreements
    and contracts involving the government
    and its agencies
    • Formal Ministerial statements at regular
    intervals on the progress of ongoing programmes and projects
    • A revision of and adherence to the rules
    regarding Parliamentary questions

     Immediately introduce integrity legislation requiring
    • a declaration of assets by public officials,
    • a Code of Conduct for Ministers,
    • a new Freedom of Information law,
    • amendments to the Defamation laws and
    • new constitutional provisions to rationalise the powers of the Prime Minister.

    Barbadians have suffered enough. We must march on to the Better Barbados of which we have dreamt and for which we have prayed and toiled.
    On 15th January 2008, you will be asked to make one of the most important decisions in your life.
    You will have a choice between progress and regression. Even if you are among the elite few who could benefit from another term of BLP rule, think of your children and your children’s children.”
    sic joke (pun intended)

    Reading it now is an object lesson in underperformance, if not gross deceit.

    DLP – You had the mandate for change, and many of the changes needed no capital expenditure,indeed they would have saved money.

    The people demanded the change of mindset you offered, and so naturally they are disillusioned with the whole political set-up because of your non-deliverance.
    There can be no excuses of global recession in many of these cases, in fact the reduced income necessitated these welcome changes, but no political expedience trumped the democratic will.

    Personally, I recognise the difficulties of politicians producing their family’s balance sheet to an independent authority, but what is holding up the FOI Act or the appointment of a Contractor General overseeing all major government contracts, after everything we have experienced you cannot deny the public’s genuine cynicism – if you do it will bite you hard next time round.

    Give us the change you promised, or step down.


  5. There is no transparency anywhere in Government. the Civil Service , Unions, Cricket , Football –Libya, Egypt, Syria nothing, nowhere —

    Freundel Stuart
    well well welll


  6. Owen Arthur vs Chris Sinckler in the next elections. Fruendel is only warming the seat or in the alternative loitering and impersonating a Primie Minister, poorly I might add.


  7. David | June 13, 2011 at 5:19 PM |
    “Sadly Barbados is quickly becoming a nation where political affiliation is paramount”

    David it has always been like that and will continue unless a Dictator like Castro rises up and rules.


  8. Tina Roach

    Here is an article you should be interested in.

    Errant ‘Rapture’ Prophet Harold Camping Suffers a Stroke

    Last Thursday, the elderly pastor and Family Radio host best known for birthing an all-consuming “May 21st” rapture meme suffered a stroke and was hospitalized. The Oakland Tribune reported that the 89-year-old Harold Camping’s voice “may never be the same” after suffering a stroke that left his speech “a little bit slurred” according to a unnamed neighbor

    http://news.yahoo.com/s/atlantic/20110613/ts_atlantic/haroldcampingsuffersstroke38757_1


  9. Every politician recognise that Barbadians are easily deceived and can be lead in any direction they want them to go because they are not aware of the current affairs of the country and they do not research what politicians tell them. They just ran with the sentiment and feeling of the day, so the politicians know that all they have to do is just stroke the fire and the masses will follow and the grander the plan, the sweeter the plan sound the more the electorate line up behind them. Sadly enough this will happen all over again for the next election.
    The bottom line is this, the Barbadian electorate by large is still naive and illiterate, they still have the corned beef and biscuit voter mentality. Until that change the politicians will always be carrying them for a ride.


  10. @ David

    How does Barbados get out of this rut, it is clear the two party system is not working for Barbados or Barbadians. On this blog alot of problems are very wisely identified, the problem is we can’t seem to find the solutions much less put them into action.

    We have a Parliament that but for a few exceptions, does not contain the calibre of leaders who inspire confidence.


    • @Rose Art

      Ordinary people have to wake up to the realization that they can influence change but it will call for a more active participation in government.

      The people have to speak out on the issues and hold our leaders accountable.

      Yes this is easier said than e but social media is helping to create the vehicle we need to get the message out there.

      Hopefully the result will be little by little momentum is created.


  11. weary baje | June 13, 2011 at 8:10 PM |

    Yuh right to talk bout we like dat but ……..I move up a long time ago, Puleeeze…….I am in de big screen TV an de Villages at Coverley category now. My vote worth much more dan corn beef an biscuits. Dat doan say a pow wow nowadays.


  12. I humbly suggest that the ordinary people of whom you speak, are blissfully unaware of the concerns highlighted in this forum from time to time.
    For many of these ordinary people, social media is a welcome escape from the humdrum of their daily lives, nothing more.

    For every ordinary person that seeks to challenge the status quo in the social media, there will be another one defending it in the same social media and two more making excuses in the mainstream media.

    Until there are no more ordinary people requesting or accepting a ” helping hand” from the political class or their lackeys, accountability and transparency will always be at the discretion of the honourable servants.


  13. The solution is simple, Barbadians must stop looking to the politician for effective change. The hard pill to swallow for the masses of this island is that effective change MUST begin with them and how they view the politicians Voting for a grand “pie in the sky” schemes is not effective change. Voting for a politician because he gave you money or he get you a NHC house is not effective change.
    You should be voting for efficient and prudent management of your hard earned money that you pay in taxes. Your vote should be for policies that would lift and carry this country forward, a sound educational policy that give your children relevant career choices to help build this nation and aspire them to great heights not have them doom to fail. Your vote should be for a strong comprehensive foreign policy that reflect the goodwill and dedication of the honest hard working citizens of this blessed land.
    After all of this is done and the siting MP abuse the public trust, then lobby to have him remove, if you the voters are still being ignore then shut the country down. Be pro-active!!
    Get this in your head and always remember it, ” THE POLITICIAN WORKS FOR YOU” and not the other way around. If you have a bad worker you fired him, the politician is no different.


    • @weary baje

      Yes the solution maybe a simple one but the issue here is not finding the solution but mobilizing the people to give effect to the solution.

      @Kracker Jack

      Recent events on the world stage don’t support your skepticism.


  14. @Straight talk | June 13, 2011 at 9:50 AM |
    “@DLP and its yardfowls
    May I remind you of your contract with the electorate ..etc etc”
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

    Straight Talk, I REGRET You will see NO RESPONSE from the George Street LIE FACTORY to your post (taken almost straight from their 2008 manifesto). The LIE FACTORY CLONES, namely POOP-AT-SEA,(note the correct spelling of your name, POOP), HAMILTON HILL, CARSON C. CADOGAN (aka REUDON EVERSLEY, CBC DLP TV TERRORIST), RYAN, CAT EYES, JUST ONLY ASKING, DIRTY MOUTH BONNY PEPPA, etc.etc. ad infinitum, are ALL scared as hell over the fact that this shall be a one-term government!

    (A) Incidentally, I haven’t heard much about or from the Queen of St John recently. While watching the Parliamentary debates last Tuesday, I did see her with head reared back, sleeping in her chair during Kellie’s diatribe. Somebody must have given a little soft shout in her ear that she was on camera, cause I saw her suddenly jump up.

    I understand that things are not going too smoothly at the Aquatic Gap Thompson Law Practice as of late, where she is Office Manager. I know that partner Garth Patterson has been gone for a while now, but :

    (1) What about the four or so lawyers that were there running the practice the Queen?

    (2) Did they pack up all the files and left without notifying the Queen, after a major disagreement?

    (3) Was the queen, a type of para-legal,(not a real real lawyer), subsequently forced to leave the building and take up residence somewhere further up in the Garrison/Hastings area?

    (4) What really is the position with the Practice and with that building in Aquatic Gap? Was it really prepared and outfitted by Leroy Parris with CLICO policy holders’ money?

    Boy, these sqeaky clean people!

    (B) They have told me to lay off the late “anointed one” and let him rest in peace. He can rest in peace, but they are so many unanswered questions. I have tried to take the high ground, but these DLP POLITICAL POULTRY (high talk for yardfowls) on this blog, are set on character assassination. They keep washing their dirty mouths on The Real Leader, saying he “walking ’bout with a walking stick,” and that he is “a drunkard with blue balls”

    This is the kind of respect they accord to a former Prime Minister of 14 years tenure? The gloves are off!

    The fact remains that the ACTUAL REAL DRUNKARD is DEAD, from excessive alcohol abuse, marijuana puffs and cocaine shots. Come to think of it, to this very day, 26 years after Tom Adams passed away, these nasty bastards won’t let Mr. Adams rest in peace. That political and economic genius, that social architect whose vision and enormous efforts literally transformed this country,… even him they continue to vilify, in their futile efforts to obliterate his legacy.

    Yet a not-done-much man, only in the P.M’s office for a few months … not done much … and they seek to elevate him to sainthood. They even talk of him as being the next National Hero,(see the DLP website) and they unashamedly create a legacy based on “what he could have done.”


  15. why the F—k SHOULD I BE INTERESTED IN SUCH AN ARTICLE
    ABOUT CAMPING
    YOU SEEM TO THINK THAT YOU HAVE FOUND SOMETHING WITH WHICH TO IRRITATE ME BUT YUH KNOW WHAT

    FORGET YOU _(CEELO GREEN style)


  16. @David,
    Scepticism?
    I may have missed the global perspective of the article and earlier comments because I thought this thread was about Barbados.

    Replace “people” with “Bajans” and then tell me with a straight face, that I should be more optimistic.


  17. When was the last time you saw Bajans mobilized in large numbers to demand anything of their leaders?

    We have come a long way since then. With social partnerships, incomes and prices accord and such like, I say that we older Bajans have lost the stomach for such barbaric actions, like mass protest and demonstrations.

    The apathy of the younger generations towards politics and politicians does augur well for the near future either.

    I could be wrong, but I think events on the world stage will not be replicated by our youth in my threescore years and ten.

  18. Pingback: Prime Minister Fruendel Stuart, Good Governance Starts With Transparency | Barbados news


  19. @HAMILTON HILL | June 12, 2011 at 1:27 PM |
    “@Truthman Burton………..Let me doubt my lying eyes and tell myself that the (Truthman…?) would never spit in the air ,then let it fall in his face.Are you not guilty of the very practise of which you accuse Mrs.Richards? You told this site that Carson C. Cadogan was none other than Ruedon Eversley,and then on a William Duguid like tirade you blasted this person from here to hell and back. Challenged by me to tell all about Mr.Eversley, and the circumstances that brought him from a comfortable seat at the Advocate to the unemployment line,all I got was a promise to get back to me. Remember our spat as it related to that creep O’brien Trotman ? Just about that same time when challenged about the veracity of the holy fraud,the very faked Harold Crichlow, you promised to get back to me with evidence to bolster your claim.Lets forget the creep and the fraud(not you scout) for the passage of father time shall prove kinder to their souls than the God of this universe .Show us Truthman that you are not like Mrs.Richards.Show us that you Truthman, is quite unlike Carson. Show us all by answering the simple question of how Reudon Eversley came to be on the bread line ? Let sleeping dogs lie,we were always told.Had they done such perhaps C B C would have been just a pipe dream, and not your party’s nightmare.”

    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

    Brother Hamilton, seems that the thread under which you wrote the above has been relegated to the archives, so I will respond to you here. You seem to be labouring under some idiotic impression that you scare me!

    By now you would have recognised that in terms of importance you rank really low for my attention. My attention is a gift that I don’t dispense frivolously…….. actually you are on the very bottom rung of my priority ladder. Apart from that I have been busy. Like you, my world does not revolve around this blog HAMMY!

    Now to this EVERSLEY thing. I really know very little about Reudon. I do know that for donkey’s years he has been, a rabidly unreasonable, died-in-the-wool DLP yardfowl, devoid of any objectivity, although he regularly boasts of his academic achievements.

    Nothing negative that has happened to this former Communications Director of The DLP’s 2008 Election Campaign, would excuse the horrifyingly extreme partisan activities, that he presently directs at CBC DLP TV. Much to the chagrin of numerous employees there (Not those like fellow DLP zealot, Sir Sandie’s cup of ROSEMARY tea, the notorious FONDLE STROKER of an interviewer) he has set about to implement an intensely partisan political agenda at that taxpayer-funded Media House, that does no credit at all to the integrity of the place, nor to the DLP for that matter, such that the employees look forward anxiously with baited breath, to see his backside permanently through the door. Just like PM STUART”S “NON-LEPOROUS PAL”,though dumb-headed Green-verb Giant,LEROY PARRIS.

    I am unable to answer your question, HAMILTON as to why REUDON would lose his comfortable position at The Advocate, for the uncertainty of the breadline. But since I can sometimes be a fairly resourceful guy, let me direct you to ask HUMPHREY MERTZSEN, as I understand it, a very CLOSE and INTIMATE friend of REUDON’S. Ask HUMPHREY how it was that REUDON was catapulted into such a high position at the Advocate, but then some sort of lover’s pat arose somewhere, that had a ruinous effect on Reudon’s tenure.

    I know nothing much about these things, so take my advice and ask elsewhere.


  20. Oh by the way Hamilton Hill, I forgot to let you know that the gentleman HUMPHREY MERTZEN used to be the CEO of The Advocate when REUDON EVERSLEY (AKA CARSON C. CADOGAN) worked there.


  21. @ kracker Jack …
    Do not think that what is happening in Northern Africa and the middle east will not happen here. If you think that it wont then you are naive in your thinking. Do underestimate the young in this country and take them for granted like how the politicians do, that was the mistake that the politicians in those countries made. There is always the proverbial straw that will break the camel’s back. The straw in those countries was unemployment, high cost of living, crooked politicians, and marginalization. Does any of these sound familiar to the sentiments here?
    The old folks used to say time longer than twinge, and I am saying to you that the twinge has ran out and the time is fast approaching, anger in this country is close to boiling point especially among the young and they rightly have to be when one see and hear some politicians on media saying that the feel your pain but they any do nothing about the high cost of living. The reason, its the previous administration, its the world recession, its the oil prices. Yet they are living large and getting 7 million in kick backs for contracts push through.
    I tell you time draweth nigh!!


  22. Nobody want to address these blatant atrocities being presently committed but have railed on the previous administration for their arrogant crooked behavior. Are any of these different from the other? Isn’t the taxpayer and the public by large the one who is taken for a ride and see that their toil and sweat is being reduce to no more than the politicians greedy schemes?
    I say again, TIME DRAWETH NIGH!!!!


  23. Tina Turnover…..But wasn’t it you who were preaching Camping’s message last month? Now you throw the ole man over the wall in the gully like a bag of dead chickens. You should show more empathy for this ole man, after all he was quoting from the bible many like you to quote when things don’t go wunna way.


  24. Now I see why many Bajan queue up to be big Prime Minister … no? Fumble Stuart, Prime Minister of quarter million get to shake hand of really big Prime Minister of China who serve one point one BILLION people, as equal … no? And Comrade Maxine get ‘nother free trip to China … must have many many past port books with many many immigration stamps by now to show grand children … no? Comrade Maxine not have long to go to catch up with Comrade Billie ….no? And what is Ambassador Sndiford track record in China to date …? Is Ambassador generating any foreign exchange at least to cover cost of salary and expenses while in China?Why need for so many Caricom ambassador in China? China giving ‘way free money and many people get travel first class to say thank you … no?


  25. @Weary Baje
    “I could be wrong, but I think events on the world stage will not be replicated by our youth in my threescore years and ten.”

    Where in that statement did I say it will never happen in Barbados?
    Please show me how and where I am being naive and I might reconsider.


  26. @ Kracker Jack
    if you are 70 or fast approaching it then you maybe right, it may not happen in your 70 years.
    Just remember though that the way how sentiments and anger is presently building up in this island that proverbial straw could break the camel’s back any time soon.
    You need to listen and hear what the young in this island frustrations are and the anger that is building with that frustration. Don’t think for one minute that they are on these blogs for a mere pass time Those share that thinking are grossly wrong.
    Far too long the politicians of this island have marginalize the young , taken them for a ride, treated them as a political football, insulted and demeaned them, demoralize them because of a few rogue disrespectful one, yet not one of those said same politicians have set an example for the young to follow. Everyone of these politicians are corrupt, deceitful, crooked, disrespectful both in public and private, selfish, greedy, arrogant and is blasted proud that they are all these things. That is who Barbadians are voting for every elections…A BUNCH OF GREEDY SELF RIGHTEOUS HOOLIGANS!!!! They seek no other interest but their own.


  27. @Truthman Burton ………..Much love my brother. Never would I get such a notion as to think that Truthman Burton is scared of me.What for? Your discomfort is rooted not in the author,but in the story.You are a Bee, so we all understand that facts never sit well with you. After ya lotta long talk ,ya still ent answer de question. A simple question seems to be kicking your ass .If you are able to provide for me a source, you could provide for me an answer, for it is that I crave and not your attention.Again much love my brother, for that commodity seems no to thrive so well in the hive. Niether does FACT.


  28. @WEARY BAJE
    The solution is simple, Barbadians must stop looking to the politician for effective change. The hard pill to swallow for the masses of this island is that effective change MUST begin with them and how they view the politicians Voting for a grand “pie in the sky” schemes is not effective change. Voting for a politician because he gave you money or he get you a NHC house is not effective change.
    You should be voting for efficient and prudent management of your hard earned money that you pay in taxes. Your vote should be for policies that would lift and carry this country forward, a sound educational policy that give your children relevant career choices to help build this nation and aspire them to great heights not have them doom to fail
    @ David
    Yes the solution maybe a simple one but the issue here is not finding the solution but mobilizing the people to give effect to the solution.
    +++++++++++++++++++++++++++++++++
    True Rastafari. Never a better word. The key is us, our decision as Bajans not to tolerate the s……anymore. It has to done. I want the BLP to win the next election, not because I am a BLP but because in my judgment of the performance of both parties, they are much better at managing a country. I have no intention of tolerating any damn crap from them either. So BLP wunna be warned. I work hard as hell for my money and I want people to govern right and give me value. The Dems did this country a massive disservice in not having forensic audits, and worse their own corruption and underperformance. More s…. and will it be tolerated. it will not go down so. Intolerable that as voters we have to choose the lesser of two evils.


  29. WAIT – Tell me VOB has got it wrong. Barbados’ credit rating reduced to “just above junk grade” and Mr. “GQ” Chris Sinkler says it’s not the end of the world?? Well Mr. Minister, please define “the end of the world according to Mr. Sinkler.

    Where the heck are we headed – to China with neither oars, outboard motor or captain!!!


  30. @HAMILTON HILL | June 14, 2011 at 11:40 AM |
    “……If you are able to provide for me a source, you could provide for me an answer, .for it is that I crave, and not your attention”

    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

    Can’t say much for your so-called jackass kick to my ass, not when you are obviously staggering and wobbling from the potency of the retaliative BEE STING!

    HAMILTON, for one who CRAVES so desparately for an answer to a simple question, your fearful reluctance to follow my simple instructions,and EASILY SATISFY YOUR CRAVING, tells me you would rather not hear the answer.

    Also seems to me that you are an unrepentant admirer/ defender of that CBC DLP TV terrorist Eversley. How could you in all seriousness agree with the travesty of justice that obtains in the Pine?

    Sad to hear that News Flash … Just In.regarding. Credit Rating Agency, Moody’s downgrading of Barbados’ status to the precipice of JUNK !

    That so-called Period of hope and CHANGE so triumphantly heralded in on January 20th 2008 has dropped DEAD! And to think, it took such a short interval for it’s life-giving breath to be literally strangled out of it. Never in the history of Barbadian Political History, has a “GUHMENT” (DONVILLE INNISS’ PRONOUNCIATION) been ushered into office with more inflated expectations of CHANGING Barbados for the better. NEVER have we seen an anointed KING and his entire court fallen so hard and fast, FASTER than satan from heaven. But we thank God ….. there is an alternative and we shall exercise that option!


  31. We in Barbados seem to be obsessed with the words “forensic audit”. Unlike routine audits, all fraud examinations must be based on proper predication; without it, the examination should not be commenced. There should be good reason for conducting an examination; unfounded suspicion is usually insufficient. Mere suspicion or innuendo, without any underlying circumstantial evidence, is not a sufficient basis for conducting a fraud audit.
    The failure to have adequate predication for conducting an examination may lead to charges of invasion of privacy, harassment, or other torts. Also, the target might be able to sue for real or imaginary damages.


  32. Courtesy of Citi:

    Moody’s downgraded the government’s domestic currency rating to Baa3 from Baa2, while it kept the Baa3 foreign currency rating unchanged. At the same time it revised the outlook on both ratings to negative.

    § The rating agency says in its statement that it is concerned about the capacity of the domestic market to continue absorbing local debt issuance. In addition, the rating agency is worried about the rising current account deficit. Not that far ago, we considered the higher proportion of local debt in its balance sheet to be one of the strengths of the credit. If the domestic market is unable to absorb new local debt, higher external indebtedness seems to be unavoidable.

    § Moody’s expects debt ratios to deteriorate further over the next 12-18 months to “levels that are no longer consistent with an investment-grade rating given the small size and limited diversification of the Barbados economy”. We agree with Moody’s, as our baseline scenario for debt-to-GDP ratios also calls for higher indebtedness.

    § We think that there is a high probability that Barbados loses its investment-grade status anytime before the end of next year. Moody’s has already put the credit on a negative outlook, and we would not be surprised if Standard and Poor’s does the same. Although the country is recovering, growth remains modest and therefore by itself is unable to curb debt ratios.

    § The government has been adjusting fiscal accounts, but it seems that to curb the deficit it would have to cut expenditures more thoroughly. The room for undertaking a fiscal reform is limited, as tax collection as a percentage of GDP is already high (almost 27% of GDP).


  33. @ Truthman Burton

    STEPHEN LASHLEY – DLP Political Mass Meeting, Wotton, Christ Church [October 1, 2006]

    CBC:
    “Our democracy is under threat when the views of the opposition cannot be heard and felt on CBC TV which is owned by the tax-payers of this country. My charge tonight is the that the government of Barbados is using CBC to subvert and control the flow of public information.”

    Accountability & Transparency:
    “By now I hope you know that when it comes to accountability and transparency, the Barbados Labour Party government is all about a glossy manifesto, promises and no action whatsoever. if this government had followed its own words and have full accountability in its operations, our national debt would be manageable and the full treasury that Owen Arthur inherited from the DLP would be intact.”

    Are not these people doing exactly the same things they were accusing the BLP of?


  34. See what I mean? I have been saying to expect a loan from China, this will be to reduce pressure on the local debt scene as well as provide funds for both infrstructure projects, to kickstart the economy, as well as ensure that Barbados has the short term liquidity to keep going, although borrowing for short term liquidity should raise an eyebrow.

    But, I may be proved wrong and no China loan is forthcoming…..?

    However, the borrowing to kickstart projects should not create a ‘false economy’ or hype the economy past realistic bases, particularly when contrary to popular views, neither the North American nor European economies are recovering but remain fairly sputtering, like going up Horse Hill in a 25 year old car that needs an engine rebore.

    Truth is, the world econmy and we, as a number of us have been saying for a few years now, from before the recession hit, are in deep doo-doo.

    External borrowing and expenditures should be carefully examined and there is no room for project wastage.


  35. In an earlier posting Truthman Burton made the vaunted claim that “The gloves were off.”Since then his posts have generated more laughter than logic. Surely we are not surprised ,for logic lives where reason is.That excludes the hive. Your gloves are off and so are mine . I invite the B U family to visit the archives and find the post ” Sanka The Decaffeinated Way.” January 13th.2011. My stance as it relates to C B C and journalism in Barbados in general is there for all to see. I do not know Reudon Eversley nor do I know or care for that matter, if he and Carson C. Cadogan is one and the same. What started me on this topic was the fact that through you, your party’s modus operandi reared its ulgy head again. Hard to miss is the attempt by the Bees on this and every site to act as though there is no past. There is no history of the B L P and wrong doing. Your blatant refusal to answer the question spoke volumes about who Truthman is. Coward dog keeps whole bone . Or is it that your chosen moniker is merely an oxymoron? My take is —a lil bit a both. B U family again I extend to you an invitation to the archives . Visit July 28th.2008 , and find the post named ” Former Editor Of Advocate News Tells Of Victimization.” Make sure to take a look at the documents submitted by one Reudon Eversley ,then see why there was need to pussy-foot . In the face of fact the browbeating has started. Bring it on my friend for I can take it. Your every response affords me the opportunity to remind Barbadians of just how wicked and spiteful an old man Owen Arthur is.He is fueled by anger and is filled with hate, not recognizing that hate is like an acid. It destroys the object on which it is poured , as well as the vessel in which it is stored. God……we can’t wait.


  36. Just read the below-mentioned posting over at Barbados Free Press. I have been pleading, begging for years to no avail, for this information to be disclosed. All I got instead was constant reference to a little scratch grain $75,000 paid to Owen Arthur, as a campaign expense donation. Will the Judicial Managers carry out a FORENSIC AUDIT, and let us know HOW MANY MULTI-MILLIONS OF THE POLICY HOLDERS’ MONEY were paid to the DLP, David Thompson, and FAMILIES FIRST over the years?
    ******************************
    FINANCE MINISTER CHRIS SINCKLER SILENT ON CLICO’S POLITICAL DONATIONS TO DLP

    SINCKLER: “Bajans aren’t MATURE or INTELLIGENT ENOUGH to see raw or incomplete data. They might draw conclusions different from what the government wants.”

    How else should voters interpret Mr. Sinckler’s recent statement that the 30-day judicial manager’s report on CLICO International Life Insurance Limited should be kept hidden? Mr. Sinckler wants the big-ups and elites to put everything together in a tidy little report that directs Bajans to whatever conclusion the elites want to sell us.

    “Let’s get this straight, Mr. Sinckler: Bajans don’t trust you or your government to tell the truth about CLICO.”

    The late PRIME MINISTER DAVID THOMPSON was way too close to CLICO’s LEROY PARRIS. David Thompson was also CLICO’s lawyer when proper financial statements weren’t filed for ten years. And when it all hit the fan for CLICO and CL Financial, Thompson used the power of his Prime Minister’s office to deny judicial oversight. Not to mention the cushy job he gave to Leroy Parris at the CBC that allowed the government to control the news about this fraud.

    “We know now that on May 15, 2005 while acting as CLICO’s lawyer, David Thompson signed a secret contract between CLICO and Leroy Parris’ private company that in effect deceived shareholders into believing that Parris was being paid less than he really was.”

    Finally, the DLP received big money from CLICO in the form or political donations and who knows what else on the side, including executive jet use for free when the cost was tens of thousands of dollars or more per ride. The DLP was brought into power in good part through the big money of CLICO.

    That was OUR MONEY that was given to the DLP. The money that policy holders and investors placed with CLICO in good faith and it was sucked out of the company into phony land purchases, mansions in Florida and who knows how much into YOUR POLITICAL POCKET MR. SINCKLER.

    Answer the policy holders this Mr. Sinckler, or sit down and shut up:

    “How much did the DLP Democratic Labour Party and the candidates receive from CLICO and associated companies and persons in the last 15 years?”

    Until you answer that question Mr. Sinckler, just sit down and shut up. We’ve heard enough of your opinions on how this fraud should be investigated, thank you.

    Signed,

    A policy holder and a victim.


  37. And here is “ROHAN FREDERICK’S” comment on the above. Will you contributors from the GEORGE STREET LIE FACTORY respond to these messages …. please?

    Rohan Frederick
    June 15, 2011 at 4:29 pm
    This whole mess with CLICO will not come to a conclusion in our lifetime. In any other part of the world Leroy Parris, Duprey, and all it’s executives would be behind bars. There is always a comment about Owen Arthur receiving $75,000:00 from Clico, but no one can put a figure on The past prime minister of the DLP and how much was spent on the last campaign to get into power, and how much each of them personally receive; all of which belongs to the investment of policy holders, what a disgusting shame we all have to put up with, with this administration, that came into power with the accusation that the last government was corrupt. What a laugh, ha, has, there has been more inept ministers, and corruption in this administration than anyone can imagine; and now Barbados has been downgraded in the international market, what a catastrophe! More hardships for us in the cost of living,and it won’t surprise if The IMF comes in. Barbadians got what they wanted change, and a lot of small change!

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