Dr. DeLisle Worrell, Governor of the Central Bank of Barbados
Dr. DeLisle Worrell will go down in history as one of the most visible and controversial Governors of the Central Bank of Barbados. He is certainly not a Kurleigh King, Calvin Springer or Winston Cox, perhaps closer to a Dr. Courtney Blackman.
Some Barbadians have become concerned by what appears to be virulent attacks directed at Worrell coming by the Barbados Labour Party (BLP). Attacks led by Arthur and Mascoll, which have reduced Worrell to an economist of lilliputian status. That Arthur, Mascoll et al would be so harsh about one of their own merits scrutiny. Bear in mind the Central Bank of Barbados has always been regarded as a respectable institution.
In the same way many believe governments managing world economies at this juncture in history are unfortunate so too Governors of Central Banks. All have to agree that the unprecedented challenges posed by the protracted global economic slowdown mean that modalities in boom times are not relevant at this time. It is in this context that we have to debate and evaluate the economic outpourings from Dr. Worrell since his appointment in 2009.
Dr. Worrell can easily be described as outspoken and unorthodox when compared to his predecessors. One manifestation is his preference to drive a Mini Cooper and not be carted about in a chauffeur driven Mercedes. However Arthur, Mascoll and others might suggest his most unflattering performances so far have been defending government’s economic programs notably a couple controversial positions he has taken.
In his first quarter evaluation in 2012 Dr. Worrell referred to the 30 million dollar loan payment due in January for the next 25 years. Many took issue with how he phrased his analysis of that transaction. The second issue was when he challenged the employment statistic produced by the Barbados Statistical Service, the agency sanctioned with producing employment statistical information. BU at the time criticized the Governor for adding to the volatile economic and political climate by engaging in an exercise when all the statistical experts agreed that the statistical weight of the Central Banks’ unemployment number was insignificant.
Even if we accept that the Governor erred in judgment we are left with the question whether Worrell was motivated by a partisan position. BU believes the Governor is a maverick of sorts and his positions should be seen this light.
What cannot be refuted is the rich bio of the Governor. He was weaned in the Research Division of the Central Bank of Barbados. This means he should have a good grasp of how the numbers are compiled and should be interpreted to paint a picture of performance. He rounded out his career by his exposure working at the International Monetary Fund (IMF) and the Caribbean Centre for Money and Finance (CCMF). Along with serving several research fellowships he is widely published in areas relevant to small island economies – see Dr. Worrell’s Bio.
Barbados Underground (BU) has become concerned about the mash up culture which now pervades our society. We have to be very careful how we critique the performance of Governor Worrell (and others) and by extension the Central Bank of Barbados because the two are not separate. The analyses proffered by the Governor is translated from the work done by an army of central bankers who operate away from the glare of the public. The politicos need to be sensitive to the foregoing. We can by all means critique the Governor but professional courtesy and decorum should always be extended.
David
Professional courtesy should be extended if the Governor behaves professionally. When Dr. Worrell speaks, he leaves the impression that he is representing the DLP. Don’t worry about how people outside of the Central Bank criticize the Governor: you should be more concerned about the image that he is projecting. If he continues in this vein, he will bring the Central Bank into disrepute. He might prefer the DLP but as a professional, he must not be seen telegraphing his politics at any time because a governor is never off duty.
David,
I am not sure what point you are trying to make, but there are three key points.
First, the governorship of the central bank is a senior office of state, and therefore it id important that we all treat that office with the dignity and respect it merits.
I would add, however, that parading around in a semi-vulgar costume is not showing respect for one’s office and can only assume that having an awareness of the ethical behaviour of high office is not in our DNA as a nation, whether is it playing Kadooment or pitching marbles with one’s charges.
The second point is that Dr Worrell is no doubt well qualified academically, unfortunately the central bank is not a university or think-tank.
Most important, economic qualifications do not qualify one to be a financial regulator – even considering Ben Bernanke and Mervyn King – nor do legal qualifications.
Financial regulations is a policy position, a hybrid of law, economics and policy.
Third, because one is governor of the central bank – or even prime minister – does not mean that one has to be intellectually deferential to them.
Even the governor must defend his positions intellectually. This is what the battle of ideas is all about.
And, Dr Worrell has been making political statements recently, not economic nor regulatory ones.
@Hal
Are you suggesting that because Worrell wears a Nehru suit he is disrespecting the office?
Are you suggesting that the many papers/books published by Worrell have been able to avoid the rigour of academic review, why?
Are you saying in his capacity of the government’s bankers and the need to advise on monetary matters qualification whether paper or breath of experience should be discounted?
You need to come straight Hal.
“The analyses proffered by the Governor is translated from the work done by an army of central bankers who operate away from the glare of the public. The politicos need to be sensitive to the foregoing. We can by all means critique the Governor but professional courtesy and decorum should always be extended.”
Can we therefore pose again a professionally slanted question to the goodly doctor the governor and, by extension, his back up army of central bankers operating behind the scenes?
Can the governor and his data processing army confirm the following?
IS THE LIABILITY DUE TO AL BARRACK INCLUDED IN YOUR CALCULATIONS OF THE GOVERNMENT’S NET FISCAL POSITION AS REPORTED TO THE CREDIT RATING AGENCIES AND THE IMF?
(To use the GP’s style of emphasising the “IMPORTANCE” of a matter).
If NOT, why not? After all the debt can now be classified as an ‘Established Liability attracting high compound interest’ that all principles of accounting- even in relation to national fiscal book-keeping- would require and indeed mandate be reflected in the records and reported accordingly. What ‘better’ independent evidence and source to verify a debt than the Law Courts of this law abiding democratic country?
Even “Amused” would not see this question as a “leading” one designed to trap any witness or to impugn the reliability or completeness of any figures emanating from the governor’s mouth.
We are sure that if this debt has definitely not been included in the government’s fiscal accounts- whether on an actual or contingent basis- such an omission, if brought to light, would never be condone by Mr. Integrity himself even if 3 years behind time. After all, the following statement made in defence of his pal was not totally made as a show of partisan political support but could also be construed as an ‘informed’ analysis of the ability and character of the man and seriously done with “professional courtesy and decorum”.
@ Amused | August 26, 2012 at 4:56 AM | on the Ax CoI:
“The difference, I speculate, between a PM who is a “financier” with the mess and range of criminal and civil illegalities perpetrated by and the consequences of which now face that class of person worldwide, and one who is a very respected attorney with an overriding respect for justice and law.”
Any comment, Amused? (Not ac, please, unless you are advised by your legal and accounting partner).
@miller
Yours is a legitimate question, do you know if our respected Fourth Estate believed the question important enough to ask the Gov and some how failed to report it? In his defense One cannot accuse the GoG he holds frequent press conferences and the members of the media are invited to pose questions. One cannot accuse the Governor of avoiding the question.
Given the closeness how you follow events you would have heard his explanation about CLICO liability last week?
@miller
There is no good reason why the Barrack debt should not be addressed officially in the budget allocation. At minimum it is a contingent liability.
It is obviously a political decision but if it is the Gov is of another view he should state it publicly.
This proud Barbadian does not have a problem with Dr. Worrell he dresses unconventionally but when he speaks he exudes a measure of confidence indicating he knows of what he speaks. Dont judge a book by its cover.
Mascoll and arhtur helped in no small measure to put us in the present economic bind with wasteful spending of billions. The solar venture with the notoriously fraudulent Nigerians takes the cake, we havent gotten to Greenland, Al Barrack or the ackee tree, Hardwood and the Silver Sands luxury toilets yet.
Was it US$, was it BDS$ spent with Veco on Dodds we still waiting to find out. The CZMU doctor operated with impunity under “economists” Mascoll and Arhtur.Stay the course Dr. Worrell we who cant be bullied by the blp are behind you.
David,
There is nothing wrong with dressing in a Nehru suit; a Nehru suit is not the same as playing Kadooment.
I have the highest respect for Dr Worrell’s academic record. What I said was that economic academic qualifications are not necessary qualifications for financial regulations.
To anyone who knows about financial regulation this is obvious. It is my understanding that the CEO of the Financial Services Commission, the senior financial regulator in Barbados, has an accountancy qualification. We have bankers who are regulators.
Because you are a soldier it does not mean you are a sailor, an airman, a prison officer or a policeman. They are all different disciplines.
To challenge Dr Worrells’s ideas is not disrespect, neither of his office or of the man himself.
I rest my case.
@hal
petty ! petty! fuh goodness sake !
Grow Barbados | August 26, 2012 at 8:17 AM |
” when he speaks he exudes a measure of confidence indicating he knows of what he speaks. Dont judge a book by its cover.”
But judging a man on the way he SOUNDS is still judging the cover … (MURDA)
Look the man dun say that there is NOTHING wrong with being a creature of the Min of Finance … The die was cast long time ..!
Who are the Governors of the Central Bank of the OECS … Now those are the kinds of people that need to be highlighted …!
David | August 26, 2012 at 8:02 AM |
Even if the laughing stock of a Fourth Estate ignorantly refuse to raise such a pertinent matter it is still professionally incumbent on the Governor to ensure that what is reported is a true and fair view of the government’s debt position; even if opaguely embedded in the overall sum of any figures reported. Even though the Al Barrack legally established claim makes good controversial grist for the Press mill it would be a quantum leap of boldness and a galactic stretch of the imagination to expect any worker or manager of that Estate to raise such an important issue during the Governor’s PR sessions.
The governor is entitled to some academic licence and professional leeway when making pronouncements on the state of the economy and projections about its future performance given the uncertain diagnostic tools available in that ‘dismal’ science called Economics. Such latitude however is not available when it comes to financial reporting. On the country, the governor is expected to be conservative and err on the side of caution and MUST report all known liabilities, realized or contingent.
The governor’s attempt to establish a financial ‘cordon sanitaire’ around the CLICO issue is his rather feeble way of weakening the guarantees previously given by his political masters to the CLICO aggrieved policyholders. These attempts to protect his masters by making political pronouncements are not in keeping with his professional brief but more of the province and indeed provenance of the Minister of Finance. We would rather hear the Governor’s assessment of the pro and cons of the options for financing the building of a new hospital in the same way he has pronounced misleadingly on the BOLT arrangement for the Dodds prisons.
@ millertheanunnaki | August 26, 2012 at 9:38 AM |
” On the country, the governor is expected to be conservative”
Above should read “On the contrary…… “
@ Grow Barbados | August 26, 2012 at 8:17 AM |
“Was it US$, was it BDS$ spent with Veco on Dodds we still waiting to find out. ”
No, we are NOT! We all know the published cost of construction and the projected total cost -both construction and financing. According to the central bank governor the annual payment in forex is $ 30 million for 25 years. You should ask to governor which currency he is using. Is it US dollars or Bajan dollars? Or is it both depending on the political point being made? Now it does not take a too bright a person like you GB to do the simple arithmetic. You can imagine what it would cost for a new hospital. It should be a standard requirement to express any foreign payment in US dollars since that is the currency we have to find to remit the funds.
Since you, GB, are the spokesman for the governor on this blog the question you need to answer on his behalf is if the Al Barrack debt is included in the national debt like the Dodds prison and Greenland.
You can consult with ac for advice since you both seem to only see things from one eye focused on the BLP inept commissions but refuse to look at this DLP administration’s infelicities of omissions.
The BLP yardfowls will obviously have a problem with Dr. Worrell- He is an outstanding economist who is held in the highest regard locally, regionally and internationally and who has been realistic about the current global situation and its impact on Barbados.
Anyone who does not sing the BLP doom amd gloom political song will be attacked by the Arthur apologists.
I see a pattern here – anyone who does not sing in Arthur’s choir will be turned upon by him and his gang of political thugs. Remember the “Negrocrat, indentured servant, political stepney, malik with teeth,”- you get the point.
The best thing for Barbados is to keep Owen Arthur and his ego as far away from Bay Street as possible.
“Are you suggesting that because Worrell wears a Nehru suit he is disrespecting the office?
Are you suggesting that the many papers/books published by Worrell have been able to avoid the rigour of academic review, why?
Are you saying in his capacity of the government’s bankers and the need to advise on monetary matters qualification whether paper or breath of experience should be discounted”
Please i beg you not to view my comment as personal but are you saying that because all of the above fits Mr Worrell, he is beyond criticism.
Hear the Right Honourable Errol Walton Barrow speaking on a Resolution for the approval of a loan to be raised by private issue in Japan and i quote from Hansard-” I made my psition clear on this, but the Minister of Finance has been persuaded by his advisers, that if he does not go, we may not get the money, and i am very sad about that, and i am serious.
I think that the Governor of the Central Bank (then Courtney Blackman- my emphasis) should go alone, because it would have to be due to his bad advice, and i am not pulling any punches at this stage of my political career.I have been in here for 35 years and i do not have to apologize to anyone except the people of St John, and i am not going to participate in this business of sheltering people who have sold this island down the river.It would have to be due to his bad advice, or to his lack of basic manhood, if he gave good advice in failing to resign from the position he is larging off with, in a structure whic is bigger than Buckingham Palace, that we find ourselves in this predicament. We are representatives of the people, we are not representatives of Central Bankers, and i hope that i am going to manage to prevail on the Mnister of Finance to let him go out there alone and get the money and not be associated with him in any exercise like this” End of quote.
So criticism of Central Bank Governors is nothing new. Mr Kurleigh King of transcendental meditation fame was criticised for his apparent inertia when he held office. Mr Worrell opened himself to criticism from the opposition benches when he inadvertently or otherwise put misleading information pertaining to the Dodds Loan issue into the public domain which served to discredit the BLP. If you can’t take the heat Mr Worrell, then you ought to stay out of the kitchen. There is no doubt that times he comes over as a spokesman for te DLP rather than the Governor of the Central Bank of the people of Barbados.
@ ! | August 26, 2012 at 10:53 AM |
How does your response address the issue of the Al Barrack debt being omitted from the national accounts? Put aside your DLP blinkers and stop your party from further tarnishing the good name of the CBB.
Ask the governor if the AL Barrack debt is included in his sums in arriving at the country’s fiscal position.
Unless the government has appealed the Al Barrack judgment by the Court the governor must, by professional integrity, include the claim as a debt in the fiscal accounts.
Deal with the issue at hand and demonstrate for once you care about this country and how it ought to be managed.
“He is an outstanding economist who is held in the highest regard locally, regionally and internationally and who has been realistic about the current global situation and its impact on Barbados”
Except for partisan DLP supporters, the same can be said of Mr Arthur. except
@balance
Guess who gets the prize for missing the point again?
The issue with Worrell is that he has been accused of being political.
Partisan BLP supporters will say that of Mr. Arthur but not the people who worked with him in Jamaica.
Arthur is over rated as an economist – ask Mascoll – he said that consistently before he collected his thirty pieces of silver and was “included”.
@ David | August 26, 2012 at 10:46 AM |
“There is no good reason why the Barrack debt should not be addressed officially in the budget allocation. At minimum it is a contingent liability.”
The canons of public finance accounting will not allow its treatment at this stage as a “contingent’ liability. Only if the government had appealed the Court’s decision would such ‘contingent’ treatment be possible. The mere fact that Ministers of Finance have recognized the debt and have entered into negotiations for its settlement is proof enough to establish its validity and must be recognized in the accounts as a real liability, long term or otherwise. There is no pussyfooting or statistical gymnastics to be played here as in the case of unemployment statistics. There may be “lies damned lies and statistics” but a Court awarded debt is a debt that must be officially recognized and honoured or the name of Barbados must be ever sullied.
I would wage a bet that one of the very good reasons for Barbados’ recent downgrade to junk bond status is the way this Al Barrack debt has been treated like a political football by both political parties with total disrespect for the decisions of the Court. This is setting a very dirty precedent when a sovereign State refuses to officially record a commercial debt verified by the Law. This arrant dismissal of the canons of commercial law can only sully the name and image of Barbados in the eyes of foreign investors. One can imagine overseas investors thinking: “If they (the government) can do that to their own, imagine what those Bajans would do to us foreigners whom the seem to dislike with a passion”.
@miller
Can’t disagree with you. Of course the DLPites will argue the politics of why Barrack got the contract to start with but this must be treated apart from the court order in play.
Should the BLP also be chastised and rejected for the massive off budget spending in which it engaged – digging up roads before the last election as part of a 40 million dollar programme that was not allocated for in the budget,- NOT ONE CENT! massive spending outside of Parlaimentary approval, yet the same BLP yardfowls are now on their high horses criticising the Governor about allocation for the Barrack debt caused by Arthur’s “incomeptence” – I will not say corruption.
How can the BLP yardfowls be taken seriously while promoting an opposition leader who it can be shown is guility on a larger scale of many these same spending issues of which they are complaining?
Surely, Owen Arthur is part of the problem and not the solution.Put country before party and keep Arthur and his ego away from Bay street,
@ ! | August 26, 2012 at 11:27 AM |
The issue here is whether the governor is subsuming and compromising his professional ethics and technical integrity to his political interests. If he is not then the financial reporting status of the Al Barrack debt needs to be explained.
We all know the Arthur and Mascoll are politicians whose reputations have already been apparently sullied by the DLP propaganda machinery. If you have evidence that both of these politicians used their office to engage in financial infelicities to benefit themselves at the expense of the taxpayers then bring the missing (not stolen) FBI report along with the Hardwood Housing forensic audit report to the public to finally discredit these alleged dishnourable men.
Mascoll speaks as a politician first and an economist second and so does Arthur. Their first aim is to get political power and that is why you will never see or hear Mascoll or Arthur give specific details about major cuts in government spending – an economist would do that but not a politician trying to get his party elected.
Next time , check it out you will hear terms like ” reorder our public finances, bring order to our public finances” – sweet sounding rhetoric but no specific spending cuts – politicians first, economists second”.
Keep Arthur and his ego away from Bay Street.
@ ! | August 26, 2012 at 11:45 AM |
Who is sounding here more of a political yardfowl?
You are not only a yardfowl but a blind one at that! Picking up not only old rotten scratch grain but dog crap and rat dung in your verbal foraging.
This how you sound: Man, the BLP do all of those bad things so what is wrong with we doing the same?
We might have promised you the electorate a change in governance of your affairs with FoI and Integrity legislation to only sweeten and ‘lubricate with soft soap’ you gullible lot for the real fcu**ing.
You idiots called the electorate, don’t you know that a promise is a comfort to a fool. Night, night, sleep tight while we outdo in 5 years what the previous conmen took 3 terms to do. After all we had 14 years to learn and copy the craft of squandermania and corruption. The BLP must be saying “whatever we do, that deceitful lying party of monkeys outdo”.
So much for good governance! EWB must daily regret his experiment.
@I
If Owen Arthur is over-rated as an economist as you are clear to indicate, why is it that Barbados did better under him than the subsequent tow Prime Ministers and over a longer period (you may also want to include the prime minister preceding Arthur)? Why is it that up and down the lengths of the island chain, Arthur is heralded for his management of the Barbados economy? Why is it that international institutions, agencies, and their directorates always spoke in glowing terms of Arthur’s approach to Barbados’ political economy and the facts were borne out by Barbados raising itself to be counted as the number one developing country in the world? Surely you would accept, so has Arthur, that mistakes were made but he always acted with Barbados’ best interests at the forefront and he was not afraid to lead or bite the bullet when circumstances demanded such? Now do you seriously believe the negative things that you want to say about Arthur as an economist or even a political leader? Do you really believe that a majority of Barbadians will tell you that they are better off in the post-Arthur years? Has the DLP did anything to truly instill hope and chart positive directions for alleviating the hardships, poverty, and other economic constraints that bow burden the people of Barbados? Let us be honest, for what it is worth, Barbados needs Owen Arthur and the BLP team perhaps more now than at anytime in the post-independence era, surely the proof is there?
If I missed someone else saying it, forgive me, but I don’t think the Nehru suit is the issue being raised, I think it’s this:
http://www.nationcropover.com/content/governor-central-bank-dr-delisle-worrell-road-kadooment-day
I don’t have a problem with jumping. I think we would be two faced as a country if we invited foreign visitors to Barbados to take part in our greatest annual event, then said we didn’t agree with it ourselves.
As to what an individual gets up to on the day….now there is another question.
In response to Hal the assumption was made that the Nehru suit was being questioned because one is hard pressed to criticize the Gov jumping on Kadooment Day.
“Guess who gets the prize for missing the point again”
Your problem is that you incorporate so many issue in one post that you do not remember what you write I only comment on what i want to comment on.
@balance
If you comment it has to be clear, was it day before you had to clarify a comment for a commenter who felt you meant Maloney?
Please read with your best comprehension.
WHY do you think it is so George Brathwaite ?
It is so because Barbadians are opposed to their own people who achieve
They have made all sorts of comments about persons who achieve . Bajans are something else yuh !
@Caswell,Balance,Hal
Subject matter adequately addressed in your contributions.Well done!
@Caswell
You need to expand your comment. What is it that the Governor is doing which rubs you the wrong way?
I am much more interested in discussing the governor’s ideas and policies without the biased intervention of party politics.
I think Dr Worrell playing Kadooment is a side show, even if an embarrassing one, at a time when the country is crying out for moral leadership.
Remember, this is the same Crop Over when we saw a toddler being rude with an obviously drunken woman. And when police and social services are still debating if they should act on this basic example of a child that should be taken in to care for his own good.
I would not expect to see the Bishop, Governor General, prime minister or chief justice dressed in a semi-vulgar costume and jumping up.
The dignity of high office means that we have to forego certain things, setting an example to the nation. However, I would expect them all to support Crop Over.
However, what is more important is how the minister of finance, advised by
the governor and others, plan to dig the country out of its economic mess.
What we do know is that after nearly five years they do not have a workable plan.
As citizens we have a right to know what our political masters and senior public officials are doing to rescue the economy.
Introducing party political bias confuses the issues. It does not help that the few public intellectuals we have do not debate each other, which is the best way of educating the public.
Our national newspapers are totally irrelevant to the most important social and public policy issues.
Forget party allegiance, discuss the issues.
@Hal
Maybe you missed the Governor’s recent public statement about the local economy. A feel for what he said can be gleaned from the following article.
http://www.barbadosadvocate.com/newsitem.asp?more=local&NewsID=26501
Well Mr Austin both Political Parties are “Service (Servile) Centric” as opposed to “Product Centric” in their thinking and policy setting for development. There is Nothing that either can do that has not been tried before that can make a difference in our direction.
@ David | August 26, 2012 at 1:42 PM |
“So the fiscal strategy fits the economic circumstances and it is on track. We know that fiscal policy does not need to be any tighter, because we are not losing foreign reserves,” Dr. Worrell stressed.”
These words, especially “because we are not losing foreign reserves,” will come back to haunt us later this year.
Is this the same governor who told us that the foreign reserves dropped by a net of $ 63 million between January 2012 and June 2012? Imagine the governor saying in the next breath that the reserves of approx $1.4 million at the end of June 2012 are no lower than the level of reserves existing at the end of 2008. What this means, in effect, is that during the period January 2008 to December 2008 there was a drop in foreign reserves from in excess of $2.5 billion to $1.4 billion at December 2008. He needs to explain this “extremely unusual” fall in foreign reserves before he can be taken seriously.
How does he explain a movement from approx $ 2.8 billion at December 2007 to $1.4 billion as at June 2012? Is that a loss or a gain? And what does the country have to show for it other than a prison?
@ !
The best thing for Barbados is to keep Owen Arthur and his ego as far away from Bay Street as possible.
I don’t think it is bigger than PM Freundel Stuart’s whose speech last Sunday was so egotistical that he even started to speak in the third person…lmao.
If the CB Governor’s Kadooment costume is a side show why bring it up? Some Gov’t officials in these sunbaked islands are active participants in these affairs; I thought that we were beyond the British stiff upper lip where grey flannel was the order of the day. The spectacle of the woman and child on public display has nothing to do with the Governor nor indeed with the majority of people who took part in the festival trying to connect the two is an obvious red herring.
Hell will freeze over before the Governor of the CB views differs from the MOF or the Gov’t which appointed him. His predecessors’ views didn’t differ from the Gov’t which appointed them and indeed one was fired without explanation to the public by the then PM (The Lord giveth and the Lord taketh away blessed be the name….)
@ Caswell Franklyn | August 26, 2012 at 1:53 AM |
“..When Dr. Worrell speaks, he leaves the impression that he is representing the DLP.”
“… you should be more concerned about the image that he is projecting. If he continues in this vein, he will bring the Central Bank into disrepute.”
Caswell it might appear strange that the miller wants to come to the defence of the embattled governor. But why are you leveling these allegations if not charges against the governor without reference to evidence or situations where the man acted or made statements to justify your assessment of him? You might have on this blog some so supporters on your position but that does not mean the majority is right.
The same way you took arms and swung your intellectual cudgel against people (like Bushie and island gal) accusing you of fraud or attempts to evade repayment of a car loan and pleaded your case most admirably against the actions of PS Layne by brining evidence to justify your action why not identify instances where the governor acted in a political way leaving doubts about his professional integrity? After all, the governor is not here to explain his actions like Jeff Broomes is able to do to justify behaviour.
So, Caswell, be fair and tell us how the governor has fallen short of the glory of his high office with specific references to inappropriate comments and actions.
@ Sargeant | August 26, 2012 at 2:50 PM |
Agree with you that the governor jumping in costume on Kadooment day has nothing at all to do with the matter in hand. As a matter of fact I enviously admire him and his ardent attempts to get “publicly” involved in the various cultural fares (events) on the local scene. He is a keen supporter of the arts and theatre and deserves recognition even if only through his affable spouse.
What we would like you to explain is your statement implying that the GoCBB must kowtow to the Minister of Finance and be just a handmaiden and spokesperson.
Are you suggesting that the GOCBB is a bureaucratic prostitute who must lie down, take it all and keep silent unless the verbal emissions are pleasing to the ear of the MoF? That the GoCBB must tow the line if he or she is to remain part of the ‘in-crowd’ and freebies lifestyle?
Is that what you want to say Sarge? Or it only applies when the person on top is a BLP john?
ALL
PLEASE KINDLY NOTE THIS BIT OF CONCENTRATED BOVINE EXCREMENT BY JUST ASKING
IN WHICH HE SPITS IN THE AIR AND HIS DRIVEL DESCENDS IN HIS FACE
WHY do you think it is so George Brathwaite ?
It is so because Barbadians are opposed to their own people who achieve
They have made all sorts of comments about persons who achieve . Bajans are something else yuh !
HE HATES BAJANS WHO HAVE ACHIEVED AND SEEKS TO BRING THEM DOWN TO HIS LEVEL
POOR FELLOW. MUST BE HARD TO BE A MORON AL YOUR LIFE AND ENVY THOSE WHO YOU PERCEIVE TO BE BETTER
BOY I LOVE A GOOD LAUGH
SARGE IS ABSOLUTELY CORRECT THAT THE GOVERNORS SEEM TO PROJECT THE POSITION OF THEIR APPOINTING MASTERS.. THE PROVERBIAL HE WHO PAYS THE PIPER CALLS THE TUNE
WHEN WINSTON COX- WHO WAS APPOINTED BY ARTHUR- CHOOSE TO SPEAK THE TRUTH AND NOT THE BLP PROPAGANDA…..HE WAS FIRED! FORTH WITH
@ GEORGIE PORGIE | August 26, 2012 at 3:23 PM |
THEN WE HAVE TO TAKE THE PRONOUNCEMENTS OF THE GOVERNOR WITH A GRAIN OF SALT ESPECIALLY WHEN IT COMES FROM A BLP MoF IN THAT CASE WITH A DOSE OF CASTOR OIL ALSO.
So tell us, PG, how come the various MoF’s uttered statements and took positions on the compensation of the CLICO policyholders that seem to be at variance with that taken by the GoCBB?
Can we conclude that the most recent utterances by the Governor on the CLICO settlement are straight from the mouth of the MoF?
If what you and Sarge are saying is true then the Central Bank is NOT really an “Independent” organization. In that case, its functions and operations are ripe for restructuring and incorporation into the coming revamped Ministry of Finance & Planning under the supervision of a real politically independent governing Foreign Agency. Dipper would smile at this turn of events. What use would there be for a central bank as presently constituted if the data produced is subject to political massaging to suit political goals? What use is there for a central bank when the currency peg is taken down to such a level that even the Jamaica dollar can look it in the eye and there is not enough forex to manage to justify such a large and expensive bureaucracy?
Miller
There are no independent regulatory bodies in Barbados: politics have corrupted all of them. You should recall that Courtney Blackman, the first Governor of the Cental Bank, said he was a creature of the Minister of Finance, so much for independence.
The NIS board is independent until the Minister of Finance says otherwise, as we have seen with the board making up its own mind about the investment in Four Seasons.
We also have an independent Public Service Commission that is now having its job done for it by a government ordered commission of inquiry.
There is also an independent Police Service Commission that is acting more like a gang of DLP politicians if you believe the reports in the Nation in relation to the embattled Commissioner of Police.
Another independent body is the newly formed but nonetheless moribund Financial Services Commission that has already been compromised by politics and refused to do its duty when certain credit union executive members broke the law. Fortunately, when the facts were presented to the members at general meeting, they dealt with the problem that seem insoluble to the cowering Financial Services Commission.
Regulatory decisions by the Town and Country Planning Department is subject to change by a minister.
The DPP was independent until certain changes to the Constitution that subject his discretion to the Attorney General in certain cases.
There is no need to go on, I think that I have proven my point.
@Caswell
Your earlier criticism of the Governor is based on your recent comment? i.e.”There are no independent regulatory bodies in Barbados: politics have corrupted all of them. You should recall that Courtney Blackman, the first Governor of the Cental Bank, said he was a creature of the Minister of Finance, so much for independence.”
Wait miller you take over from onion or the two you one and the same.
onion gets on everybody’s nerves with his myopic yardfowlism his incessant replies to even trivialities ala Bafbfp.
miller you are doing a hell of a job of imitating onion.
Please give the blog a break, take a sea bath catch a movie, catch your breath.
Good Lord ease up nuh man.
@GG
There is nothing wrong with anybody commenting as they see fit.
@ GG | August 26, 2012 at 6:44 PM |
The truth always hurt, doesn’t it GG? Yes attack me instead of what I am saying. Typical of your sort. BTW, how do you know what I am doing unless you are following me like if we are on twitter. Was off the blog for 2 months. You were probably glad to see the miller silenced. But I am back and will not stop exposing hypocrisy lies and corruption. That’s my mission along with the sea baths and sex; leaving the movies (blue even) to you.
The onion man has asked me to hold the fort and I doing just that. Now let the BU see you contribute something of worth. I bet you a ‘Grand’ that you can’t produce something that is intellectually interesting. I gone!
No argument there David yet still twelve long winded write ups by miller out of forty five blogs is over the top give others a chance.
@GG
You need to concentrate on your offerings and know this, one cannot please everybody.
Winston was the best example of an independent GoCB that Barbados has ever had … and he last two years … My God. Hear his lecture on the International Financial Architecture earlier this year and was impressed with his presentabilitiness … ja ja. The man sweet. I had a few embarissing q’s to ask in the q and a about the the fate of those leaders that opposed the US dollar but thought better of it, you know the company that I was in and all
Winston Cox ain’ even a Phd… maybe that is the problem … HA HA HA
“sleep tight while we outdo in 5 years what the previous conmen took 3 terms to do”
ABOSOLUTELY TRUE and POSITIVELY so too:
-This DLP government has successfully implemented the most agressive and successful housing programme in a five year period.
– Most expansive and comprehensive suite of incentives for alternative energy to move Barbados from overdependence of fossil fuels and its price viability in a five year period.
– Implementation of Financial services Commission and regulatory framework for non bank financial sector.
Diversification of tourism markets into Scandanavia and south America while intensifying focus on UK market with appointment of Vice President for the UK alone as opposed to lumping it with the rest of continental Europe.
Complete electrical upgrade of QEH , much needed reform of the Drug Service and its runaway costs, major tax credit for preventative health care – “ounce of prevention tax credit”,
While operating in the most turbulent international environment which any Barbados Government has had to battle in our lifetime- the DLP government has done well.
@George C Brathwaite- lead soprano in Owen Arthur Choir –
Get REAL!
Barbados leadership and respect in the market place was established long before Owen Arthur became Prime Minister –
From the Colossus that was Errol Walton Barrow, the federal days of Sir Grantley, Sir Harold, Tom. Sir Lloyd Sandiford, David Thompson and Freundel Stuart – all giants capapble of handling themselves and representing Barbados with distinction.
Only the Arthur propagandists like to make him out to be some larger than life figure and ignore the galring shortcomings and missed opposrtunities in his tenure when he chose the short term political option rather than longterm restructuring of our ecoenomy.
Would your partisan blinders allow you to see that fact?
Arthur never had Barbados economy growing when everyone around us was not – the world economy experienced a boom from the mid 1990’s until the financial crisis and its contagion hit our major trading partners. Look across the Caribbean my friend in the period that Arthur was Prime Minister and see incumbents from PJ Patterson in Jamaica to Keith Mitchell in Grenada getting relected- economies growing based on tourism inflows and increased services – nothing special or unique about Arthur .
Where was the alternative energy policy, the serious effort to cut the size of the public service, the innovative land use policy, the cultural industries policy- PLEASE.
Hammie La said it best – the BLP has an effective propaganda machinery so much so that in 2012 in the face of a turbulent global environment, BLP yardfowls beleive that there is an economic messiah who will wave a magic wand and bring cheap oil, lower electric bills and tourists galore- keep dreaming!
Barbados does not need Owen Arthiur now or at no time in the near future. Keep Arthur and his ego out of Bay street.
@George
If Arthur was so great an economist why ddint he structurally tranform the economy in times of plenty, but created a fasle hope among barbadians and encouraging them to go into comspicous consumption. Why didnt he transform the sugar and agricultural sectors.
If you people knew how many ECONOMISTS there are in senior positions drawing from the tax payers’ purse you would gawk. ..!
A man who says Government funds and a surplus thereof are a great investment forum as opposed to Real Estate is a man who bears serious scrutiny. A Central Bank Governor who cannot dare to contravene the PM nor Minister of Finance warrants a serious examination.
Winston Cox dared to defy Owen Arthur and became Deputy Secretary of the Commonwealth, if Cox was so incompetent why did he get a job which superseded his stint at CBB?
Because Cox had Integrity and as Governor sought to advise Arthur – perhaps from the very mess we’re all in now?
And people wonder why I say give Mia a chance? Obama did not have experience when he became POTUS, but now he does – where is John McCain now?
“(The Lord giveth and the Lord taketh away blessed be the name”
SO THREATENED THE RT HONOURABLE EXCELLENT EWB TO A FORMER SPEAKER OF THE HOUSE WHO RULED AGAINST HIM
THANKS MR/MS GABRIEL TACKLE
There is nothing wrong with anybody commenting as they see fit.
doe this comment apply to balance too?
@balance
Of course, it does not change the fact that you are inclined to be pedantic at times…lol.
He is a keen supporter of the arts and theatre and deserves recognition even if only through his affable spouse. ”
i can indeed vouch for the fact that the affable Governor has always shown a keen interest in the arts from way back with his frequent attendances at shows/plays in the Dorothy Hackett theatre in Queens park but in analysing his participation in crop over parading in that piece of thing- these sayings perhaps negative come to mind- when i was a child, i thought as a child, i spake as a child- when i became a man, i put away childish things/ there is a time and place for everything/ but in the final analysis the Governor has a right to express himself as he sees fit. Onward ever, Governor backward never.
That’s my mission along with the sea baths and sex” i hope you mean sex with a female woman( the real thing) and not a male woman Mr Miller otherwise i would be sorely disappointed.
@ balance | August 27, 2012 at 6:11 AM |
The miller happens to be in that “straight” 70% of mankind. I am an oil donkey not a grease monkey, if you know what I mean. But you seem to know a lot about these odd inclinations.
Just be careful. There is a blog policeman cum speech controller in the form of a GG lurking around just waiting for you to exceed your contribution limit set by him and not BU.
I asked GG the guardian of the gnome to go off duty and make a worthwhile contribution to the debate instead of limiting others’ freedom of speech.
Balance man I even offered him a bribe of a Grand to say something of substance. But it seems the man can’t talk anymore. One wonders why. Has he been muzzled or verbally castrated? Who could have done such a cut throat job.
Certainly not David BU! David is a strict guardian of that axiom and unassailable principle of freedom speech: “I will not agree with what you say, but I will defend your right to say it”. Or something along a similar line that even Voltaire would have followed to walk the hallowed Hall to defend Evelyn Beatrice; or the other way around.
On behalf of “balance” and myself: Thanks, David BU. Just hope the likes of GG are few and far between.
The hallowed Hall of The Tom Adams Financial center has all a sudden become a town cry-er’s mall of propaganda…..Voltaire delivered news of ‘being on the right track’ for his handsome fee, only for S&P to spot light on the truth of STABLE….GocB should be advising free of any duress….the people should be told the truth. His job is that of independent economic adviser.
The day oh Great Chief, make mockery of his office by delivering falsehood about the country, is a sign for both of them to go sit with the elder and squa, allowing wiser new Sioux chief to rule. We can count on one hand what this chief has done GOOD for the reservation…. school children bus fares and camps while punishing the parents wid draconian measures. What about his promised Integrity Legislation?, What about the stolen Deloitte Judicial report…so wait no one has made any copies?Nonsense coming from the mouth of a supposed chief. Wait the Eager 11 get let off just so? No warriors heads rolled. As the Sunday sun reports the party is not ready….it is more ole talk…mother of all battles is an empty rant.
Great Chief, the signs are all around, time to exit and comes smoke peace pipe wid the elders and draw your $17,000 a month (+) pension. There is no disgrace in that….you tried.
@ Sittin Bull | August 27, 2012 at 11:14 AM |
Be careful how you sit under tepee reminiscing about the glory old days when buffalo roam the plains and you with spear in hand would bring down young bull to provide food, clothing and shelter for Sioux family and other Cheyenne cousins in exchange for horse. Horse later used to fight big pale face custer man at the little horn who came to remove you from ancestral home to bring genetically modified beast called cow to replace assassinated buffalo to make way for smoking iron horse call train.
A crapeau called Freundel aka GG with smoking pipe in mouth might crawl under tepee while old squa takes care of dying life long friend of yours called tremble dick. Smoking crapeau just there, not to give you words of solace and pearls of wisdom, but to encourage you to drink political alcohol and feed you religious white powder to takeaway your rich lands.
Watch out my brother, very few real kemo sabes in that damned lying party wagon trail just; too many slick and snake oil salesmen in the medicine cabinet. Salesmen that would even sell your sick big Chief dynamite medicine to push up rear orifice to relieve blockage. Instead of Big Chief no Shite we have a crapeau in a bowtie speaking Latin when translated says: Big Shite but no Chief. LOL!!
@ Miller
Good concordance my alli and friend….sitting bull done move tippee to higher ground already….LOL
FACTS are the centre (i.e. non-partisan and apolitical) balance is irrelevant. Anyone here watches Newsroom?
millertheanunnaki | August 27, 2012 at 12:30 PM | @ Sittin Bull | August 27, 2012 at 11:14 AM |
miller behave man
you made me fall of my chair LOL LOL good one!
The BLP had a very informative public meeting last night.
Any criticism of the Govenor of the Central Bank is made as a direct result of his political comments rather than his professional conduct and opinion, so than he is criticised has a politician rather than an economist.
It is clear for all to see that he has taken on the mantle of defending this lost DLP Government.
@ Sylvan Greenidge | August 27, 2012 at 4:40 PM |
That is a matter of opinion that would be shaped by any partisan view of the governor’s political leanings or affiliation.
What cannot be gainsaid is a justifiable criticism and questioning of his professional integrity and suitability as governor if he fails to adhere to principles of collating and reporting fiscal data to reflect a true and fair view of the country’s fiscal position. Even if he brought a certain politically embarrassing event to his boss who instructed him to dismiss or omit it from the records and reporting statements he is still professionally bound to comment on its omission even if as a sterile foot note.
The question, Sylvan Greenidge, that needs to be posed to the goodly doctor governor is not whether he is a DLP sympathizer or supporter but whether he has included the Al Barrack debt as part of the government’s debt. If he has not, why not? Maybe he is not aware of it or was advised by the MoF that the DLP administration has no intentions whatsoever of settling the debt and is passing it on like a hot potato to the next BLP administration to handle.
Out of the mouths of babes. Yesterday a youngster on a tour of Ilaro Court asked the joker we have for a Prime Minister when is the election. You should have seen the PM………….but I dont know!!!!!!!!!!!
Unbelievable viewing!
Hi Prodical Son
Would you have expected the Prime Minister to have told the youngster?
@ Yardbroom | August 28, 2012 at 11:00 AM |
But he could have used the opportunity to educate the youngsters. He could have told the youngster that the general elections are due in January next year but MUST take place constitutionally by April 2013. In the meantime he has the option to call it before but he would prefer to keep his options a secret for political purposes since he would not want the Opposition to know just yet.
The young fellow would have been more than satisfied with the mature response instead of a puerile idiotic untrue response. Out of the mouth of babes shall the truth be told to expose jokers and liars!
Well done young David, the FS yellow goliath has been caught politically undressed in public before a group of innocent children laughing at his small political ass(et).
Hi millertheanunnaki
You have made the “Assumption” that the Prime Minister does know the date of the general election and is being dishonest.
It could be he has not “as yet” decided a date: therefore he does not know. Let us be guided by reason.
Yea,right!
@ Yardbroom | August 28, 2012 at 11:42 AM |
Since neither you nor I are in the PM’s head or can think for him let us assume that a reasonable man is in there. Shouldn’t that reasonable mind have informed the youngster of the constitutional limits in which the elections must take place with the suggested proviso that he has the option to call elections before but would prefer not to discuss the matter for partisan political reasons?
Any reasonably thinking politically mature Bajan can conclude that the PM is aware of this sole prerogative to call elections before the constitutionally required time. One must also assume that the said PM is such an astute and shrewd politician to be fully sensitized to the current social and economic challenges as to have already crafted in his political planning a strategy that would have identified the opportune time to strike while the political iron is hot to his own advantage or demise.
But you might just be right in your assumption that he does not really know. Maybe not even the date when the elections are constitutionally due. Maybe he has not gotten around to thinking about it just like reading the CLICO forensic audit report. One thing he is definitely aware of is that time is running out one way or the other.
We don’t need a new Govenor of the Central Bank, we need a Commissioner Of Police, a Chief Justice, A Prison Chief, A Supervisor of Insurance, etc with similar cojones (Spanish pronunciation: [koˈxones])
Hi millertheanunnaki August 28, 2012 @ 12:31PM
We will not agree on this one.
However, there are times when a “lecture” is required, on other occasions only the information as requested. I think Prime Minister Stuart was not wrong-footed, he handled the situation well, with a smile to a eager young boy.
If press reports are to be believed, the boy was satisfied: as he only wanted to wish the Prime Minister good luck in the elections.
Job Done!!
Yeah, right! Let him continue to be delusional!
@ Yardbroom | August 28, 2012 at 1:49 PM |
“However, there are times when a “lecture” is required, on other occasions only the information as requested.”
Lecture to whom? The Eager Eleven whose heads should have rolled or even guillotined?
How can information be received from a non-answer to a question? You consider an “I don’t know” answer to be information? A simple response like ‘in time’ or ‘in the fullness of time’ would have been more appropriate than an idiot’s answer. It might be suitable for political stooges in the yard holding a broom to sweep the nonsense under a carpet but not for those who have no political axe to grind like the youngster.
Yes, indeed, a job well done and for which he will be richly rewarded by the voters one day coming soon. P45 and all!
Hi millertheanunnaki
Quote: “…”It might be suitable for political stooges in the yard holding a broom to sweep the nonsense under a carpet but not for those who have no political axe to grind like the youngster.”
It is “nice” to know that you have been included in those who have no political axe to grind . . . . . .I believe you!!!
@ Yardbroom | August 28, 2012 at 5:35 PM |
“It is “nice” to know that you have been included in those who have no political axe to grind . . . . . .I believe you!!!”
The miller not only has a political axe to grind but to use it to sever the head (politically speaking) of this arrant administration even if it means voting for a recidivistic BLP. This destructive labour party has not only brought chaos and confusion through its incompetence in handling the affairs of this once proud and highly respected country but through its arrogance, lies and its highhandedness in dealing with regional brothers and sisters has brought Barbados to the brink of despair which is now the laughing stock of the region and fast becoming the ‘poor great’ beggar to its North Atlantic masters.
The indelible memory of EWB is blotted by this modern deceitful lying party administration.