Local Media Lacks Financial Intelligence

Annie Lowrey,A Harvard grad who is an economic policy reporter for the New York Times’ Economix blog – Credit:: Policymic

…what percentage of investors who invest in Bim are driven by ratings? what rates can we raise money at if we need to? The fact is that Jamaica with a much lower rating has been raising money globally at comparable rates to Barbados, actually lower in some cases.

My general point is that all the people who have been opining have not bothered to check or try to get info on the trading in currently outstanding Barbados government bonds graded internationally. has there been any selling off, have the yields gone up. How can we claim to be serious about these issues?…

Ellis Chase

Of concern to BU and others we know is the lack of financial Reporters employed by traditional media. One only had to observe the Central Bank of Barbados press conference yesterday. The traditional media whether it wants to accept the responsibility is an opinion shaper for many Barbadians.

A scan of media houses exposes that the financial page is managed from the side of an editor’s desk; perhaps with the exception of Geraldine Edwards at the Business Authority.  The author (Ellis Chase) of the quote is correct. A responsible and knowledgeable media should be competent to report on  the implications of the S&P downgrade and the role of credit ratings agencies in general. Although there is a political dimension to the downgrade the flipside to the discussion is equally important for those who would want the nuts and bolts of the downgrade. Further, many Barbadians are being robbed of an informed debate on the issue of the downgrade.

Local media houses have a responsibility to enrich its human resource to allow for the professional delivery of ALL news.

0 thoughts on “Local Media Lacks Financial Intelligence

  1. Thank you Ellis Chase for providing much needed light instead of heat in this area.

    I find that some at the Nation and VOB are too prone to sensationalism or giving everything a poltical slant especially in favour of the BLP.

    The President of the Bankers Association was very measured as compared to lalu vaswani from the chamber of commerce whose advice was for government to go the way of privitisation.

    Think country people and forget the opposition politics.This is not the time for that nonsense.

  2. I got to admit that I rape a couple ah people in my life, technically speaking … they did say “no”! I suppose there should be a rule as to how the know is said and when … I mean a “NO” is different from a “no” which is different from a “nnnnnnn n n n o.

  3. David

    You got some twit trying to imitate loyal bloggers on this thread. I thought that you found a way to take care of this stalker ..? Now he even imitating dead bloggers and all. Though I got to tell ya, he got a sense of humour (actually I am very convinced that it is a she … she just would NOT let go …)

  4. I am waiting to hear some experts comment on the rating. Reading that report S&P seems to have downgraded based on what happened last year, despite the government being ahead of its targets for this year. I find that most interesting. I hope the experts comment. A country is ahead of its fiscal targets yet you downgrade because you think you got tricked last year.

    maybe just maybe international investors will punish this downgrade by ignoring it.

  5. sir u said you are a financial analysis or reporter and you here with such weak analysis of the downgrade.The international institution would have been monitoring Barbados for quite some time.They had discussions with us and if you were following they utter rings you should understand a downgrade was coming.Have we shown any growth really? and is the economy had any new breathe of life.So before we continue to complained of getting the downgrade it is time we fixed this problem.Away with the partisan politics and begin to bring new ideas for implementation in order to move Barbados forward.We still has things going for us, so let us not bury our heads in the sand because we got a downgrade but look on the bright side and do what we are best at.We are a resilient people and it is time to move forward not with those old archaic ideas but continue to do research and new development.

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