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Standard & Poor’s Lowers Barbados Sovereign to ‘B-‘ from ‘B’ (outlook is negative)

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worrell-sincklerBarbadians have become fatigue under the the constant negative feedback from armchair pundits and professionals like S&P. Where do we go from here? All the experts have painted a gloomy forecast EXCEPT the minister of finance Chris Sinckler.  Who are the citizens to believe Sinckler or all the other who are experts in the field.

The report from S&P explains the mouthing from Dr. Warren Smith who heads the Caribbean Development Bank who has advised government to privatize the Barbados Port Authority and Grantley Adams Airport. The following extract from S&P report confirms what the BU family has been writing about for a few years.

Who will act to stop the rot or it it too late!

However, usable international reserves, which we consider for assessing external liquidity, are even lower; we subtract the monetary base from international reserves because reserve coverage of the monetary base is critical to maintaining confidence in the exchange-rate regime. Barbados’ usable reserves have been negative since 2013, and the position continues to deteriorate, in part because of the central bank’s deficit financing, which has expanded the monetary base. We expect Barbados’ gross external financing needs to be above 200% of current account receipts (CAR) plus usable reserves. We expect narrow net external debt to average around 40% of CAR during 2016-2018. Our external assessment also considers that net external liabilities of a projected 170% of CAR during 2016-2018 are substantially higher than narrow net external debt. Finally, we note that Barbados’ International Investment Position has inconsistencies and is not timely.

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277 responses to “Standard & Poor’s Lowers Barbados Sovereign to ‘B-‘ from ‘B’ (outlook is negative)”

  1. millertheannunaki Avatar
    millertheannunaki

    @ ac September 25, 2016 at 8:14 AM
    “In all earnest well speaking for my self ,, never believed that the opposition or its supporters have any real solutions just take a peek the privatization genie has once again been let loose out of the bottle and as i recall was the economic magical solution the blp had introduced as solving the nation woes , so looking for solutions from supporters or party members was already a far fetched conclusion knowing what they had proposed over the years”

    We are watching you lot ac, the consortium.

    We are counting the number of hits you are making on that pro-privatization web page.

    The same way you continue to blame the OSA’s 14 years of misrule, wastage and incompetence in managing the economy for the current state of fiscal and financial affairs we expect you soon to be the biggest trumpeter of privatization as a DLP solution to correct these failures.

    Go ahead ac, why not preempt the Stinkliar’s soon-to-be announced (again) policy statement on your dangerous lying party administration programme of inevitable Privatization. The question is which will come first. The Four Seasons ‘don’t-blame-me’ whitewash or the privatization fire sale to stave off a fast approaching hurricane called Devaluation ?

    BTW, you can tell the Guv of the CB that he could go back to blaming the BLP for the Dodds prison BOLT payment for the annual drop in the foreign reserves. At least it sounded more convincing than the fly-away-Peter-fly-away-Paul cock and bull story about the missing $300 million which Standard & Poors’ have forensically identified as never existing in the first place. Here is the forensic evidence my friends in the consortium of propaganda:

    “However, usable international reserves, which we consider for assessing external liquidity, are even lower; we subtract the monetary base from international reserves because reserve coverage of the monetary base is critical to maintaining confidence in the exchange-rate regime. Barbados’ usable reserves have been negative since 2013, and the position continues to deteriorate, in part because of the central bank’s deficit financing, which has expanded the monetary base.”

  2. David Avatar
    David

    Look forward to Charles Herbert’ response to the latest downgrade on behave of the private group. What some of us forget is that unless the private sector is confident in the policies being implemented, we go nowhere, fast.

    Why this fixation with ac who is clueless and obviously partisan? Why not deal with the issues dispassionately? Like the regular callers on the talk show it is boring stuff. Have to admit of late BU flushes ac’s comments most of the time.

    >

  3. Tron Avatar
    Tron

    @David

    The Frustrated Businessman is the messenger of the local private sector. He made it very clear that his fellows lost any confidence. They will not restart to invest before next election.

  4. millertheannunaki Avatar
    millertheannunaki

    @ ac September 25, 2016 at 9:30 AM
    “ the solutions govt suggested have all been stall walled by bureaucracy or met with controversial indifference to measures which will further progress the nations growth and economy.”

    Any administration which can only ‘suggest solutions’ instead of implementing them is unworthy of remaining in government. Why should shareholders keep a board of incompetent corrupt directors in charge of their business?

    The solution of the future of Bim lies in the responsible hands of the people. Why not give them the opportunity as shareholders to vote for whom they wish to look after their affairs in the future.

    What are you lot waiting for? January 2017 or the earlier appearance of Wraith Lowedown the $5 million duppy to force your hand?

    You wouldn’t want to spoil your big November party to feast on the last morsels of the once fatted calf now, would you?

  5. David Avatar
    David

    @Tron

    This is where the crux of the problem is located. The economy will no improve unless the private sector is fully onboard.

  6. Artax Avatar
    Artax

    “In all earnest well speaking for myself….. never BELIEVED that the DLP or its supporters have ANY REAL SOLUTIONS” either.

    The IMF, CDB, S&P, Moody’s and World Bank, as well as the state of the Barbados economy CONFIRMED the above comments.

    Perhaps Stuart may respond to this recent S&P downgrade by saying: “What they say has as much value as what you would see in any garbage dump collected by the Sanitation Services Authority..”

  7. Wha Loss Dem Stupid Avatar
    Wha Loss Dem Stupid

    The private sector with waiting out the clock on the DLP. Maybe we can get another ‘garbage’ statement from the PM on this latest, in a very long line, downgrade by S&P.

  8. Artax Avatar
    Artax

    The printing of money by the Central Bank to finance the deficit will eventually result in an increase in inflation. Although more money is on the market, the amount of goods and services remain the same.

    As it relates to bonds, people buy government bonds because they believe they are safe investments. However, this belief must be taken under the assumption that inflation remains low.

    An increase in inflation may result in a corresponding decrease in the value of government bonds. As a result, bond holders may seek to cash their bonds and government may experience difficulties in soliciting people to buy bonds, and will have to offer a higher interest rate in an effort to attract potential investors.

  9. Tron Avatar
    Tron

    Debts: Barbados is like a patient with diabetes type 2 eating 1 kg suggar per day.

  10. ac Avatar
    ac

    David September 25, 2016 at 9:41 AM #

    Why this fixation with ac who is clueless and obviously partisan? Why not deal with the issues dispassionately? Like the regular callers on the talk show it is boring stuff. Have to admit of late BU flushes ac’s comments most of the time.

    ………………………………………………………………………………………………………………………………………………
    very interesting . however never noticed what few comments ac made were flushed hmmmm
    as far i have noticed none have been flushed . would be interesting to read what those comments said
    People fixation is reminiscence of those times leading up to the last election so do not expect these fixations to decrease any time soon i bet that even if i said nothing there are those who would find a reason to draw y attention to the politics of the day , any how time is coming govr win or lose i will have nothing to say about barbados politics as i have realized that many political interest is laid on a platter of self interest

  11. FearPlay Avatar
    FearPlay

    Can anyone on BU tell us how much of each dollar earned by citizens is taken away in taxes? What percentage goes to government and what percentage is retained by the individual? This may give us a good indication of how devalued our currency is already.

  12. Wha Loss Dem Stupid Avatar
    Wha Loss Dem Stupid

    http://barbadoswaterauthority.com/?p=1331

  13. Tron Avatar
    Tron

    The Pyongyang Advocate has not reported the latest downgrade yet. Nor the pastors in church this morning. Why? 😉

  14. Hants Avatar
    Hants

    “The bank continues to deliver strong results and show profitable growth. For the nine months ended July 31, 2016, the bank reported net income of [$222] million, up [$48] million or 28 per cent, a significant improvement in performance when compared with net income of [$174] million for the corresponding period last year.” –

    http://www.nationnews.com/nationnews/news/86397/tax-dent-fcib-profits#sthash.wGyF3MPU.dpuf

  15. Vincent Haynes Avatar
    Vincent Haynes

    Can anyone say if Four Seasons has been sold as yet and to who as vouchsafed by the MoF some months ago?

  16. Tron Avatar
    Tron

    What Central Bank should do is offering a financial product on short selling Barbadian treasury bonds.

    Would be wonderful 😉 Higher profits after every downgrade and after every wrong political decision!

  17. millertheannunaki Avatar
    millertheannunaki

    @ Tron September 25, 2016 at 11:51 AM
    “The Pyongyang Advocate has not reported the latest downgrade yet. Nor the pastors in church this morning. Why?”

    Why? Because of Z! Zilck response to their fake signals of communication.

    Wasn’t there a time back in the recent past when there was a national pray session arranged by the various churches asking their Bajan god to intercede and direct the economic affairs of Barbados for the sake of the current administration?

    It seems as if God has gotten rather good at inserting his earplugs as soon as this lot of hypocrites and political vipers come ‘a-calling’ for special favours for an administration of liars.

    Their prayers of deliverance from the looming jaws of the IMF should be more directed to Rev. Bonnke. It worked for them last time.

    As for the “Pyongyang Advocate ” of Propaganda by Blatant Omission of Important News, do you expect a financially challenged rag sheet of a media prostitute to bite the hand of the john that feeds her with cuts of taxpayers’ easy money?

    Do you really feel the motto of “For the cause that lacks assistance, The wrong that needs resistance, etc” still applies to that collapsing media whorehouse?

  18. Tron Avatar
    Tron

    “I believe that the new tax will obviously be passed on to the consumers and make prices a little more expensive, but I believe that businesses should not use it as an opportunity to raise prices right away.” (Barbados Today 1 September 2016)

    And what about the chicken going up 42% ???

    The word “believe” simply expresses what is wrong with Barbados, with this society and its values. People mix up the church and reality. Real life, business and money are not about any belief, but about hard facts.

    And the hard facts are so that Moody´s next step will be D and S&P next step will be C.

  19. Tron Avatar
    Tron

    @millertheannunaki

    I believe that God helps the innocent and not the slackers.

    I believe that if you help yourself, God helps you.

    In other words: If Barbadians drastically change the course, God will help.

    Otherwise not. Since it is written in Luke 4:12 “Do not put the Lord your God to the test.”

  20. Well Well & Consequences Avatar
    Well Well & Consequences

    Tron….if they do not help themselves and get rid of those jokers in parliament, no divine interaction will be forthcoming.

    If they dont put extreme pressure on the ministers in waiting from DAY 1…..no one will help them.

  21. Bush Tea Avatar
    Bush Tea

    @ Tron
    I believe that if you help yourself, God helps you.
    ++++++++++++++++++++++++++++++++++++++++
    You could ‘believe’ what ever makes you happy, BUT…
    God helps the righteous…… not another fella.
    The rest of us are at the mercy of ‘Ms. Karma….’

    If anyone wants good for themselves, then they simply need to do good to others…
    if any wants to be wealthy, they only need to give away what they have – to others in need…
    Any fella who chooses to live by the sword ..should know what to expect…
    ..and anyone who wants to ‘smell hell’ …. just continue to be a brass bowl.

  22. George C. Brathwaite Avatar
    George C. Brathwaite

    This is no laughing matter and I take no pleasure in discussing it. What I will say is that last week as in previous weeks, I mentioned in my articles the direction that we are going and the reluctance of this administration to take heed and alter course. Perhaps, we are seeing more clearly why the ‘levy’ or new taxation in the budget, and why for the first time the GoCB and the MoF appeared not to be singing from the same hymn sheet. I am not even going to say that most economists have been sending the warnings.

  23. Gabriel Avatar
    Gabriel

    Lest they forget…….Barbados Today 22OCT2013
    <<>>.

    You mean to tell us that for almost 3 years now these top dogs in the RBPF cannot find these two miscreants?You mean Tai P the acking top cop can’t solve this 3 year mystery.You think we the people should demand sirelyut recall Darwin the real one?

  24. Pachamama Avatar
    Pachamama

    @ George Brathwaite

    We have been in a recession cum depression, for at least 8 years.

    What you like to call the global economy has entered unchartered territory. Negative growth in Barbados, for the foreseeable future, is unavoidable.

    Yet your critique of the government of Barbados is as perennial as it has always been.

    You seem always to be minded that there is some knowledge somewhere that is best followed.

    That some ‘misguided’ future government can do right by the Bajan people.

    Have you ever considered that none of this will be possible?

    Come on Dr. Brathwaite, why have events consistently made a liar out of Sinclair and the GoCB? Why like rats are they now seeking their own way out? Do the totality of circumstances not speak to a seismic shift? Events beyond those staged in academia.

    That the system itself cannot be repaired. How many more years of this do you need to be convinced. Or do you have to see things up close and through the eyes of a BLP administration to see fundamental truths.

    That all the economist in the world, more than 99 percent are so wedded to the decaying system making them incapable of seeing beyond capitalism, its end.

    There are only 2 world renown economists we know of who are even willing to consider this possibility. They may be more. But is it not time after 8 years of lying by this government. And 14 years before them of feckless emergence into this dead end that you start to think critically about where we are, unblinded by BLP dogmas. That remedies of the past, which the DLP continue to seek, will be totally unhelpful for the future.

  25. millertheannunaki Avatar
    millertheannunaki

    @ George C. Brathwaite September 25, 2016 at 5:20 PM

    The current administration is arrogantly not willing to listen to anyone. Why should they anyway when they have a ministerial bag of scapegoats with the designer label “ INMF (It’s Not My Fault).

    Neither is it capable of executing the ‘long-in-the-pipeline’ recommendations and proposals to restructure the public sector and tackle effectively the ever expanding fiscal crisis brought about largely as a result of having to keep afloat parasitically unproductive statutory bodies and other parastatal organizations in a contracting and perniciously ailing economy.

    How long has been since the MoF said the sale of BNTCL was almost concluded and he was just awaiting the arrival of the cheque?

    The only impact this recent downgrade will have is to hasten the flight of capital from Barbados and encourage foreign-owned businesses to minimize their exposure by remitting large amounts of management fees and dividends.

    Individuals will increase their hoarding of foreign currencies especially US$ and cutback on buying or constructing houses as they would be expecting a crash in the housing (real estate) market as the threat of Devaluation continues to stalk the land.

    Barbados is so heavily ‘blackened’ in the financial junkyard it is almost impossible to borrow unless it is prepared to pay usurious rates to the circling loan sharks.

    The IMF is the lender of last resort and it is to this banker’s door the country must go. It’s a pity the next administration has to take on such a mess.

    Right now there is a massive lack of confidence in the present administration both at the individual and corporate level.

  26. David Avatar
    David

    Sinckler fends off S&P downgrade

  27. Tron Avatar
    Tron

    @David

    Well, well, well.

    Seemingly an expensive ring and an expensive watch.

    Barbados Today should provide better pictures so that we can identify the exact model and price.

  28. Hants Avatar
    Hants

    ““I do not share this view, however, I believe that the Barbados society is repositioning itself for a new platform on which we will launch a higher level of existence with better quality lives and higher standards of living”.

    @David, what is the “new platform” ?

  29. David Avatar
    David

    @Hants

    It must be a work in progress.

  30. Gabriel Avatar
    Gabriel

    Are we to have another no confidence motion by the Leader of the Opposition in the Minister of Finance?

  31. Hants Avatar
    Hants

    The BU maguffees have voted no confidence in the DLP and the BLP.

    We dun know Barbados is fcuked and I dread “devaluation” because it will directly affect me.

    I am still hoping for a miracle.

  32. Colonel Buggy Avatar
    Colonel Buggy

    Don’t blame me! dem keep shifting the goal posts
    http://i.imgur.com/fe9kj1Y.jpg?1

  33. Tron Avatar
    Tron

    There is a nice list:
    http://www.tradingeconomics.com/country-list/rating

    Not updated for Barbados, but quite revealing.

    Bim is now next to Argentina, Belarus, Kongo and Pakistan.

    It is time to buy a bulletproof vest and a machete for self-protection.

  34. Piece Uh De Rock Yeah Right - INRI Avatar
    Piece Uh De Rock Yeah Right – INRI

    @ Hants

    The new platform is the floor of the gallows that Verla Depeiza advocates hanging the whistleblowers who expose the DLP and Stinkliar and the Governor of the Central Bank have been using to hang the Bajan Economy these last 8 years.

    I am afraid that Mia Mottley is going to have to prosecute these highway robbers called the Demonic Labour Party

    She has no choice else be seen as being complicit with these crimes against Bajans

  35. Artax Avatar
    Artax

    Tron September 25, 2016 at 1:44 PM #

    “I believe that the new tax will obviously be passed on to the consumers and make prices a little more expensive, but I believe that businesses should not use it as an opportunity to raise prices right away.” (Barbados Today 1 September 2016)

    @ Tron

    Recall one of the new proposal outlined in the 2015-2016 Budget was an increase in the VAT registration threshold from $80,000 per annum to $200,000. This resulted in many small businesses not satisfying the requirements for VAT registration, thereby reducing the number of registrants (when the policy actually becomes law).

    VAT paid by a registrant is recoverable as input tax if it relates to goods and services acquired solely for the purposes of making taxable supplies. This new policy also means businesses that are not VAT registered cannot claim input tax as they did when they were registered.

    Obviously, smart business owners will pass on this VAT burden to customers, which would see an increase in the price of goods and services.

  36. Well Well & Consequences Avatar
    Well Well & Consequences

    Art…this is the new reality of what people are bracing themselves for….the credit rating agencies are well are….75% of Americans are living paycheck to paycheck….one paycheck away from disaster.

    All the talk from Sinckler, they will all continue to sit on their tails and wait for the oncoming train wreck…wait on the bigger countries to implode instead of taking and making a strong stance.

    “In recent months, we’ve seen nearly $8 trillion disappear from world stock markets… and a whopping 70% of investors lose money in 2015.

    Even the great Warren Buffett lost $11 billion dollars.

    We’re looking at a collapse in corporate bonds.. and plummeting oil and commodity prices.

    Research shows the “too big to fail” banks, the top five largest financial institutions (the ones that were bailed out in 2008), are now 25% bigger than they were back then, and more dangerous than ever.

    We’ve seen private businesses take on more debt than any time in the past 12 years, and an incredible 863 companies that have had their credit rating downgraded last year… the most since 2009.

    I mean… even Wal-Mart announced the shutdown of more than 250 stores, worldwide.

    This is what happens when our government embarks on a gross, out-of-control experiment, expanding the money supply 400% in just six years, and more than doubling our national debt since 2006.

    It took our nation 216 years to rack up the first $8.5 trillion in debt… then just 8 more years to double that amount.

    As someone who has been investigating this situation closely for years, who has built a $100 million business by capitalizing on expertise in finance and accounting… I am here to tell you with 100% certainty:

    America is in for some major changes to our economy, our country, and our very way of life over the next five years.

    The way you live, work, travel, retire, invest… everything is going to change. Some of it in ways most people would never expect.

    A “new” crisis of epic proportions is already underway.

    Stocks will fall further. Bonds are going to collapse. Huge numbers of bankruptcies in the energy business may soon ripple through the financial system.

    And eventually, we’re going to have a major stock market crash — and it will be worse than the one we experienced seven years ago.

    We’re going to have a currency crisis too – because investors and governments around the world will realize the U.S. dollar is not the safe haven it once was.

    Sooner than most people think, we’ll see the U.S. dollar lose it’s “reserve currency” status, and this will make it much harder for our government to borrow money, and have our military stationed in more than 150 countries.”

  37. ac Avatar
    ac

    My question to the blp operatives where does your patriotism lie,, i read all these comments of vitriol within plans of “hoping” to win a election which most likely would not happen especially when the movers and shakers behind the BLP once again is asking for govt to sell those entities that have supported many a barbadian household even some family members of those who are calling for Privatization,
    In any case let/s take a look at jamaica a once prosperous country but saddled in debt placed on the bosom of the IMF program a financial institution whose job is to be the collection agency of the financial institution to which Jamaica owes it debt , Every so often one would hear that jamaica credit rating is improving but with all that good news alongside is a Jamaica whose social network has become a shambles death and gore in the streets,
    Now should our country strive to undertake the importance of paying of its debt rapidly without analyzing the social impact

  38. David Avatar
    David

    It seems every newsfeed has picked up our story of the downgrade. In T&T they are asking the question will they be next to be rated junk.

  39. Artax Avatar
    Artax

    Whenever any individual, organisation or special interest group criticize or disagree with any policy developed by this inept DLP administration, the DEMS and their stupid semi-literate yard-fowls supporters always resort to using words such as unpatriotic and treason, while saying the critics are not “putting the country first.”

    Perhaps they are implying that challenging the DLP is tantamount to the crime of betraying Barbados or attempting to overthrow the government. These people need to be reminded that the BLP or DLP do not have a God given right to rule this island. Rather than trying to elevate politicians to god like status, yard-fowls must accept that these men and women are not perfect human beings……. they are mere mortals who are susceptible to making mistakes and it is impossible for them to do everything that is correct.

    Additionally, politicians and yard-fowls alike must accept they are servants of the people who elected them.

    If the DEMS were to embrace their definition “patriotism,” as finance minister, Sinckler would have accepted responsibility for the number of credit rating downgrades “conferred” on Barbados by regional and international credit rating agencies, admitted that his economic policies are not realizing the anticipated/desired objectives, and as a true patriot who loves his country, he would have performed the honourable act of resigning.

    Instead, Sinckler refuses to accept he is a failure as finance minister and blames everyone else (except himself) for the state of the Barbados economy. He refuses to believe he has made mistakes.

    “My question to the DLP operatives is where does your patriotism lie? I read all these comments of “vitriolic rhetoric” within plans of “hoping” to win the 2018 general election” and I’m reminded that the DEMS are not about Barbados……. they are driven by self interest and holding on to the reins of power.

  40. Well Well & Consequences Avatar
    Well Well & Consequences

    ACs…ya have to analyze the social impacts because if the vulnerable people in society, the elderly and their pensions or lack of , the unemployed and underemployed youth, unemployed or underemployed mothers who have children…….many, many unemployed or underemployed men.

    What will the government do about them….pretend they are invisible and dont exist…programs have to be put in place to minimize, reduce the negative impact…and fallouts from external and internal shocks.

    For sure yall will not have the money to be importing 700,000 worth of useless, unhealthy garbage for food every year to overburden the healthcare system, put half that money in social programs……FOR THE PEOPLE.

    Use the balance to grow food and import food regionally…..or starve.

    Do not plagarize thid ACs….it was meant for sharing, not stealing.

  41. Well Well & Consequences Avatar
    Well Well & Consequences

    “Now should our country strive to undertake the importance of paying of its debt rapidly without analyzing the social impact”.

    These types of assinine, backward statement are construed as being “intelligent” by yardfowls and thrir foolish masters.

    I never knew Barbados was filled with rich people that negative impacts on the social structure can be ignored and no analysis performed to measure such impacts.

    That is exactly what the slaves in parliament been doing for 8 years…pretending that the 200,000 vulnersble majority dont exist……ignoring the impact of their actions….., trying to pay off debts that can never be repaid….while spending like idiots.

    They refused to listen to the rating agencies to cut spending…it’s not about goal posts…it’s about fools out of their depth.

    Get rid of them….all of them.

  42. ac Avatar
    ac

    Again i reference Jamaica as an example which has been in an Imf program for years govts after govt has changed but outside of paying down its debt no govt has found the correct formula to keep the social enviroment of the poor in tact a big failure which also affects investors confidence and a contributing factor to slow growth.
    Is that the formula the opposition would prescribed for this country.
    Yes debt must be paid to those we owed but should not govt weighed the positive against tge negative and the probable fall outs that would effect the most vulnerable.
    A society is not just made up of critical financial analysis to benefit the few but the uttermost reliance on weighing the balance of what works in the best interest of all
    If the blp has a better plan of action (which i belive they do not) it would have been in their best interest to share it with the nation. However putting the nations best interest on the table of political opportunism would not serve the blp operatives any better especially when that strategy failed them in the last election

  43. Well Well & Consequences Avatar
    Well Well & Consequences

    That 7 million dollars or more yall wasting on foolish, useless independence celebrations will return to bite ya….hard…the people know ya taking their hardearned money and wasting it on crap.

    The credit rating agencies, warned and warned and warned yall….now Sinckler is blaming the rating agencies for his own hardheadness…there may be over 200,000 poor people on the island but none of them are blind to what yall did.

  44. recoanthony Avatar
    recoanthony

    THESE THINGS HAPPEN WHEN U HAVE AH BLACK MAMBA AN HIS BROOD OF VIPERS RUNNING AH COUNTRY, I WONDER WHO IS TALKING GARBAGE NOW?….THESE DISRESPECTFUL SCAMPS IN 8 YEARS FAUCK UP THIS COUNTRY. THEY BUSE ALL THE RATING AGENCIES AN NOW THAT RETARDED B!TCH TALKING ABOUT GOAL POST, DEM= DLP= DEMONIC LYING PARTY WILL TAKE THIS COUNTRY INTO THE ABYSS IF WE DON’T GET UP AND STOP DEM, BY WAY OF PEACEFUL PROTEST. @ WELL WELL, THEY SPEND LIKE IDIOTS, STEEL LIKE, TEETH LIKE, MOUTH LIKE, POCKET LIKE, GIVE LIKE TO THE 5 WHITE FACES THAT SHOWS UP FOR EVERY MAJOR CONTRACTS, FOR THE KICK BACK LIKE HAHAHAHAHAHAHAHA, NOW THE COUNTRY ON ITS BELLY LIKE AH SERPENT……ASK DE BLACK MAMBA AN HIS BROOD OF VIPERS

  45. recoanthony Avatar
    recoanthony

    WAIT ANYONE KNOWS IF THE CATASTROPHETHAT RUNNING THIS COUNTRY GET THEY HANDS ON THE CATASTROPHE FUNDS YET? I THINK ITS 35 MIL $……IF THEY DO I DON’T THINK IT WILL SEE THE LIGHT OF DAY…I WONDER WHO BANK OR BANKS WILL BE HOLDING IT? HAHAHAHAHAHA

  46. Well Well & Consequences Avatar
    Well Well & Consequences

    Their 8 years of reckless spending and pretending over 200,000 people are invisible, dont exist and do not need social care is what is biting them in their backsides now….. Recoanthony

  47. Artax Avatar
    Artax

    According to the “Statistics Portal,” Barbados’ debt to GDP ratio of 105.75%, makes the island # 11 of the 20 countries with the highest public debt in 2016 in relation to the gross domestic product (GDP).

  48. Roverp Avatar
    Roverp

    We need to reinvent ourselves.
    For more than 60 years, the brightest economic minds have proposed a way forward with little success of achievement. The best of our political administrations and the most entrepreneurial of the business community have failed to transform the one-horse Caribbean economy.
    How to link production of our most competitive export crops, products and services (tourism) with the rest of the economy to enjoy the spin-off benefits is a challenge. Tourism Minister of The Bahamas, Obie Wilchcombe, notes that in the Bahamas, one of the largest and most “successful” tourism economies in the region, 80 cents out of every dollar spent by the tourist leaks out to foreign suppliers of goods and services for the tourist.

  49. Roverp Avatar
    Roverp

    Offloading the taxation burden on air travel into and around the region to encourage increased travel; linking the several national and private airlines operating in the Caribbean into a network that allows for inter-airline connections; expanding the Caribbean share of an ever-growing international travel market—last year 1.2 billion people travelled the globe, a figure set to increase to 1.8 billion by 2030—linking the tourism economy to the production sectors of the local and the regional economy; integrating Caribbean tourism destinations to give the traveller options of visiting several islands and cultures, and minimising travel bureaucracy that now encumbers the traveller were among the major issues raised and analysed at the State of the Tourism Industry Conference held recently in Barbados. https://www.guardian.co.tt/columnist/2016-09-25/reinventing-ourselves

  50. Roverp Avatar
    Roverp

    The Central Bank of Barbados reports that the tourism industry experienced a five per cent increase in receipts for 2015, yet the gross domestic product (GDP) of the country advanced by a statistically insignificant 0.5 per cent. The macro-economic data gives the impression that there are limited linkages of the buoyant tourism economy with the rest of the Barbados economy and society—it is a regional pattern. https://www.guardian.co.tt/columnist/2016-09-25/reinventing-ourselves

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