Governor Dr. DeLisle Worrell the Controversial

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.

  • Hi Prodical Son
    Would you have expected the Prime Minister to have told the youngster?


  • millertheanunnaki

    @ 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!


  • millertheanunnaki

    @ 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!


  • millertheanunnaki

    @ 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!!!


  • millertheanunnaki

    @ 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.


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