“The likes of Aruba, The Bahamas, Bermuda and Trinidad are the most attractive issuers from the Caribbean, he said, while Panama and El Salvador are popular markets in Central America. Barbados, at one time, was among the list of most attractive issuers, but its economy has faltered since the 2008 world financial crisis.”
Read the full article in the The Gleaner
The quote is attributed to Gregory Fisher, Managing Director of Institutional Emerging Markets Sales at Oppenheimer & Company. Oppenheimer for those who want to be assured of their credentials, is one of the leading investment banks in the world and has been around for 125 years.
And why have we focused on the Fisher comment?
Less than a week after the Caribbean Court of Justice delivered the Shanique Myrie decision which went against Barbados, we have a leading player in the global investment market making a comment which has made another big withdrawal from Barbados’ reputational capital. The fact the comment followed the withdrawal of a Tender Offer by the Barbados government less than two weeks ago because it was undersubscribed gives heavy credence to Fisher’s assessment.
In both instances the government,, represented by the Prime Minister or Minister of Finance, has been loud by its silence. BU is reminded of the storyline The King Speech. It is about a Prime Minister of a country who was motivated to overcome an impediment in his speech because he recognized the importance of being able to communicate to the people during a challenging period.
BU continue to be concerned about the lack of leadership in Barbados, in every sphere of society. Whether one reads social or traditional media the observation is the same, fowls running around without heads. We listen to the incessant and monotonous call from the Governor of the Central Bank to demonstrate confidence in what we as a people can do, and he is correct in theory. Confidence however is not derived in a vacuum is it? Barbadians will only feel assured that we can surmount the challenges which confront us IF this is demonstrated through leadership. It will not happen in a vacuum.
We have become a rabid, politicallypartisan country where independents who voice opinions or try to make interventions for love of country are quickly labelled BLP or DLP. If we all love Barbados it follows that national positions must trump those which are politically narrow. What will it take to change it? Perhaps the coming of a political Messiah.
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