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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. Well Well & Consequences Avatar
    Well Well & Consequences

    The tourism brand obviously does not benefit the island re their debts and progress in growing the economy, it’s not enough…here is proof that government ministers been lying for years, because they are lazy and do not want to use their braib6s to do anything else to generation cash flows from several other sources.

    They prefer sit and depend on visibly shrinking tourism receipts.

  2. Hants Avatar
    Hants

    @ David,

    Pay attention!!!

    https://www.wunderground.com/blog/JeffMasters/comment.html?entrynum=3443

  3. ac Avatar
    ac

    Waiting to hear the opposition come out with their bold plan of cutting taxes..creating growth..and paying down the deficit..while providing free health care..free education ..and low transportation and paying all necessary debt that keeps an economy stable.

  4. millertheanunnaki Avatar
    millertheanunnaki

    @ ac September 26, 2016 at 1:44 PM

    What about waiting to hear when Fumble going to realise that his own people, regional and international financial agencies have lost all confidence in his administration’s ability to manage the financial and economic affairs of Barbados and rings the bell.
    Let the people decide their fate.

    They certainly didn’t vote in 2013 for what is taking place in Bim today.

  5. Well Well & Consequences Avatar
    Well Well & Consequences

    Exavtly Miller…those clowns promised the people the sun and the moon…I was sitting in Canada hearing them boast about they were the ONLY ones, could get the economy on track, bring down the deficit, pay the huge debt. …

    What happened between 2013 and now..

    They LIED…to be reelected, they did not f7x the economy since 2013 it got worse., they cant do it now, neither will they be able to do it after 2018….I believe everyone on the island knows that.

    ……the island would just end up in a deeper hole because they will be using the same backward methods and expect different results.

    As soon as they are reelected the same minority parasites will present themselves to greedily suck up all the taxpayer’s contracts…for bribe money, the same disenfranchisement will continue, the same disparities. …the same old mismanagement….the same unfair distribution of wealth…..they do not know how to do anything different.

  6. mitchlans Avatar
    mitchlans

    WW&C it would take a person of extremely low intelligence not to realise that if the current administration knew how to reverse the slide into the abyss that has been taking place since 2008, they would have done so by now. Only a complete idiot would believe they will know how to, or be able to do any different after 2018.

    So hands up all those of extremely low intelligence, the idiots, and the blind yardfowl, and let us hope the nationwide total is no more than 10,000 of whom 40% will go to the polls.

  7. ac. Avatar
    ac.

    Also would like to know from the opposition or to explain if they go the Privitization route what plans they would have in place to manage the blacklash of joblessness which would be part of the privitization process when new management takes over .also included would be the Union voice of advocating long picket lines because of their membership job losses all of which would affect the social network forcing govt to provide economical help for those who have loss their jobs .there would also be other pressing issues to which govt would have to be accountable dealing with long term service and payment packages to the unemployed
    These are the issues which most likely that the oppoditionbwould like to face as they tried to manipulate a debt ridden country out of the grips of the loan and rating institutions

  8. Hants Avatar
    Hants

    “Regardless of development some moderate to heavy showers, periods of rain, thunderstorms and gusty winds are expected to spread across the island late Tuesday into Wednesday. Rainfall accumulations of three to five inches (75 to 125 millimetres) are possible along the path of the system.”

  9. ac Avatar
    ac

    Correction
    Issues most likely that the opposition would have to face…

  10. Well Well & Consequences Avatar
    Well Well & Consequences

    Mitch……the ACs believe the slaves who are her masters in parliament can do it, now if I told them how low to the bottom of the IQ range their intelligence level is to believe such rubbish..they would want to get offended, imagine that…I think the ACs just want to see bajans suffer….a sickness inside them they cant help.

    Let’s hope the 40%-60 % voters with higher intelligence levels…vote them out and monitor closely the wannabes waiting in the wings.

  11. millertheanunnaki Avatar
    millertheanunnaki

    @ac. September 26, 2016 at 4:21 PM
    “Also would like to know from the opposition or to explain if they go the Privitization route what plans they would have in place to manage the blacklash of joblessness which would be part of the privitization process when new management takes over .also included would be the Union voice of advocating long picket lines because of their membership job losses all of which would affect the social network forcing govt to provide economical help for those who have loss their jobs .there would also be other pressing issues to which govt would have to be accountable dealing with long term service and payment packages to the unemployed
    These are the issues which most likely that the oppoditionbwould like to face as they tried to manipulate a debt ridden country out of the grips of the loan and rating institutions..”

    There the ac consortium go again! That ‘P’ for Privatization word keeps raising its ugly head.

    The above spiel sounds as if your administration is about to give up the ghost by running away from the fire.

    But you paint a rather scary but inevitable picture of what is in store for Bim as a result of 8 years of incompetence and blatant corruption.

    When are they planning to do a runner from responsibility? In early 2017 when the forex tank starts to read almost empty or is Blackmout Lowedown going to spoil your Independence fun?

    Why not be a real man and woman and face the music of your own making?

    You have started the Privatization programme so why not go through with it to make that old lady on the bus in 2013 real proud of her ‘bus driver’ fellow yard-fowl?

    BTW, you also need to remove the “NO” from the 2013 election slogan “No Privatization under the DLP”.

    What you sow, so shall ye reap!
    Karma can be a real dangerous bitch especially when she is dealing with a lying dog called DLP.

  12. ac Avatar
    ac

    Miller shut up or answer the relevant questions after all it is the BLP plan for whole sale Privatization of the air port and sea port where thousands of barbadians are emmployed , the questions are very relevant as they all relate to bringing down external as well as internal debt,
    so don/t be a foolburt and hide behind some stupid game call moving the goal post ,

  13. Well Well & Consequences Avatar
    Well Well & Consequences

    With all that taxpayer funded education…the ministers should be able to anticipate when international institutions are going to move their individual goal posts……..and they should be inteligent eniugh to adjust the island’s financial situation to suit.

    Yall think the voters hire ministers for their looks…ya suppose to be more highly intelligent than those ya borrow from.

    Continue to sit on ya asses and think ya impressing somebody. ..lol

  14. Frustrated Businessman (aka tired of pointing out obvious realities of Bajan suffering) Avatar
    Frustrated Businessman (aka tired of pointing out obvious realities of Bajan suffering)

    So AC, are you acknowledging then that the civil services and statutory corporations only exist to employ the unemployables and lackies of this country who are otherwise destined for joblessness when real market forces come to bear through privatisation of said insttutions?

    I really wonder sometimes of Bajan politicians are living in a Disney World fantasy world where the rest of us only exist as play things.

    ON WHAT FUKKING PLANET DOES GROSS INEFFICIENCY IN TAX-SUCKING PUBLIC INSTITUTIONS RUN BY IDIOTS WHO CAN’T BE FIRED FOR INCOMPETENCY AND WHO EXIST ONLY TO OBSTRUCT THE PROGRESS OF AN ENTIRE TAX-PAYING POPULATION HELP ANYONE???!!!!

  15. Tron Avatar
    Tron

    A guy called Stephen boasted on Barbados Today that latest downgrade was “inevitable”. Wait. Wasn´t that the same Stepen telling us some months ago that devaluation is not on the table? Where did he get his certificate in economics from? Venezuela or Argentina? Or did I miss anything?

    I smell devaluation around the corner.

  16. David Avatar
    David

    That would be political suicide with a general election looming.

    >

  17. Artax Avatar
    Artax

    According to a Government Information Service [GIS] press release published by Sharon Austin, on January 8, 2014, Sinckler mentioned “government is CURRENTLY REVIEWING the FUNCTIONS of 19 STATUTORY CORPORATIONS with a view to CONSOLIDATING their OPERATIONS.”

    He said of those institutions: “some will GO OUT of BUSINESS, others will MERGE with each other and perhaps where it is feasible and makes sense for PRIVATE INVOLVEMENT in the OPERATIONS of any of those institutions that will be undertaken as well.”

    In July 2016, a proposal was made to MERGE the NHC, RDC and UDC. Bear in mind that each organisation, for example, has its own Director, Accountant, Maid and Messenger. Surely under these circumstances, any MERGER (or consolidation of operations) would OBVIOUSLY result in EXCESS employees LOSING THEIR JOBS (i.e. there would be no longer a NEED to employ 3 Directors or 3 Maids; hence 2 of each would have to be made redundant).

    Also, recall this DLP administration has SOLD the Barbados National Terminal Company Limited (BNTCL), which more or less means this establishment has UNDERGONE a PROCESS of PRIVATIZATION. If by your own definition PRIVATIZATION will ULTIMATELY result in JOB LOSSES, perhaps you should show equal concern about this situation, because people from BNTCL will lose their jobs “when new management takes over.”

    Therefore, are you SUGGESTING that a BLP plan of PRIVATIZATION would RESULT in widespread job losses, causing “the Union voice of advocating long picket lines because of their membership job losses all of which would affect the social network forcing govt to provide economical help for those who have lost their jobs?”

    Or, are you SUGGESTING that this DLP administration HAS the NECESSARY “plans in place to manage the backlash of joblessness which would be part of the PRIVATIZATION and MERGER processes when new management takes over?”

    How would the DEMS respond to the level of unemployment as a result of mergers and privatization, especially since, in your opinion, “there would also be other pressing issues to which govt would have to be accountable dealing with long term service and payment packages to the unemployed?”

    Are you trying to CONVINCE Barbadians that there would be FUNDAMENTAL DIFFERENCES between a BLP privatization plan and a DLP privatization plan?

  18. Tron Avatar
    Tron

    Do not be frustrated, Frustrated.

    What ac delivered was simply the communist model. Some civil servants talk the very same way. One told me: “The private sector cannot employ all these people, so the government must pick them off the street.” And: “Sinckler must preserve the peg by higher taxes at the expense of another recession.” David S. even worships Venezuela. Venezuela – the country where they even lack toilet paper and newborns die in hospital.

    I did not know that the curriculum in Barbadian schools is about Marx, Lenin and Mao. Thought, we are in the western hemisphere.

  19. Well Well & Consequences Avatar
    Well Well & Consequences

    Any merger causes job overlaps resulting in massive layoffs…it’s inevitable, if the ministers say differently to fool the employees into reelecting them….they are lying.

    Merging 19 statutory corporations = massive layoffs.

  20. ac Avatar
    ac

    help can a blp operative answer the questions without playing doopsy doodle, , Privatization and its relevance to job losses and the dislocation of the social network whereby govt would have to manage or put those plans at cost in place to secure the nations stability.

  21. Well Well & Consequences Avatar
    Well Well & Consequences

    ACs…,.back in the 90s DLP fked up the economy, just like now, and got thrown out of parliament….did the other government not have to clean up the mess…..and the cycle continued.

    ……yall aint no saviors….yall a failures.

    Get over it and get gone.

  22. Tron Avatar
    Tron

    Watch this:

    Mottley and Sinkler. Mottley aware of all economic conditions discussed here, Sinckler living on another planet: “HIGHER LEVEL OF EXISTENCE” (SIC!!!). Wow. Did not know that one cocktail is so dangerous.

  23. Artax Avatar
    Artax

    We must take into consideration that, in 2013 there were approximately 54 statutory/quasi corporations operating in Barbados. It was also during 2013 that this DLP administration identified a number of these corporations to undergo a process of restructuring in order to help control spending and allow for better management of the large fiscal deficit.

    Sinckler promised that agencies such as the Transport Board, Barbados Water Authority, Sanitation Service Authority and National Conservation Commission would be have been subjected to “structural reforms.” Three years later, the Transport Board and SSA are struggling, while accumulating additional expenditure in the form of transfers and subsidies.

    In January 2014, Sports (or Sporty) Minister Stephen Lashley said government was looking at the Wildey Gymnasium, the National Sports Council (NSC) and Kensington Oval Management Inc., with a view to reducing duplication while amalgamating the duties and agencies to reduce overall costs. It is almost January 2017 and there has not been any information pertaining to whether government is going through the process of consolidating operations or has placed this move on the back burner.

    Denis Kellman is opposed to the proposed merger of NHC, RDC and UDC, even though a Cabinet decision is pending on this issue.

    What real purpose does the Commission of Pan African Affairs serve?

    The NAB, NHC, RDC, UDC and Constituency Councils perform similar functions. If one remembers, in 2001 the then Owen Arthur administration closed the Housing Welfare Department of NAB to establish the RDC and UDC, which mainly served to provide jobs for BLP yard-fowls.

    Prior to the 2008 general elections, Thompson was very critical of former BLP parliamentarian O’Brien Trotman being appointed as Director of UDC and his successor, George Edghill. And who did the DEMS replaced him with? A former DLP candidate, Derek Alleyne.

    So far, the status quo has remained the same.

  24. ac Avatar
    ac

    BTW the BNTCL does not employ as any people as the air port sea port and transport board combined all these entities have the backing of Unions and do not forget that. which means the ob losses would be greater coming from these entities and the fall out would most definitely affect the economy and do not forget employees severance packages which would have to dealt with

  25. Tron Avatar
    Tron

    ac,

    Simply offer these people an emigration package: 10,000 BBD cash and a container 20 tons to move to England or South America 😉

    Problem solved.

  26. millertheanunnaki Avatar
    millertheanunnaki

    @ ac September 26, 2016 at 5:31 PM
    “Miller shut up or answer the relevant questions after all it is the BLP plan for whole sale Privatization of the air port and sea port where thousands of barbadians are emmployed , the questions are very relevant as they all relate to bringing down external as well as internal debt,
    so don/t be a foolburt and hide behind some stupid game call moving the goal post..”

    Reply to the asinine consortium (ac):
    Instead of wasting intellectual energy on beating a dead donkey called the Balaam ac I will let Stinkliar answer your “relevant” questions concerning the BLP plan for wholesale “Privatization”. He is the one who “invited” the IMF to give advice on his restructuring and privatization programme. Not the BLP and certainly not the miller.

    Relevant Extract from the December 2013: “Ministerial Statement On Government’s Fiscal Consolidation Programme 2013-15 presented to the House of Assembly by The Hon. Christopher P. Sinckler, Minister of Finance and Economic Affairs”.

    “Additionally Mr. Speaker, earlier this year, the Ministry of Finance formally requested technical assistance from the IMF’s Fiscal Affairs Department in two critical areas of government’s operations:

    Tax administration, and fiscal/operational reform in the key statutory entities which rely on central government for large transfers for their operations.
    For some time now most internal and external examiners have expressed deep concerns about both of these areas as key examples of parts of government’s operations which exhibit unacceptable levels of inefficiency and dis-functionality resulting increasing financial burdens to the state.

    I am happy to announce that the Fund has accepted the requests and starting next month, the first team will begin its examination of the fiscal and operational challenges of some of our key statutory entities.

    In anticipation of that and in an effort to advance and concretize this work, the Ministry of Finance will assemble a high level task force of senior finance, business and accounting experts to work along with the Fund’s team to finalize a reform agenda for the selected entities to be presented to the Minister before mid-year.

    I also anticipate that very shortly the Fund will identify a team of experts to conduct the long overdue comprehensive assessment of the direct and indirect tax systems in Barbados with a view to advising government on major reforms necessary in both tax policy and administration.

    Mr. Speaker the additional measures which I have just announced, though tough, are designed for the specific purpose of helping Barbados’ economy to accelerate the process of adjustment and fiscal consolidation. In the end though, Sir, as a country we cannot hope to cut or tax our way out of this economic decline.

    We must push ahead even more radically with our growth initiatives through greater public and especially private sector investment. As a government the pressure is on us to step up and remove all obstacles to investment in our country whether from domestic or foreign investors. We must work harder and faster and facilitate more.”

    Bla, bla bla!!

  27. ac Avatar
    ac

    Problems yes but solving by way of quick fixes would create bigger problems for the country, Barbados does not have the luxury like other large economies to absorb large amount of joblessness by the private sector reason why govt after govt is saddled and forced to create jobs, some of the jobs created might seem counterproductive and burdensome to an economy but when one goes back to the drawing board the question of high unemployment is an issue which cannot be avoided for any govt,

  28. millertheanunnaki Avatar
    millertheanunnaki

    @ ac September 26, 2016 at 7:09 PM

    So why cant’ you lot accept the sound advice given by the Fumbling Froon and send them back to the cane fields?

    Sorry, you better make that ‘Mary Jane Fields’.

    BTW, what do you mean by “reason why govt after govt is saddled and forced to create jobs”?

    Are you including the BLP in that continuum? Are you now finding excuses for OSA’s 14 years of misrule and squandermania and, according to you, economic stagnation after Sandie put the country on a growth trajectory?

  29. ac Avatar
    ac

    Miller ……. We must push ahead even more radically with our growth initiatives through greater public and especially private sector investment. As a government the pressure is on us to step up and remove all obstacles to investment in our country whether from domestic or foreign investors. We must work harder and faster and facilitate more.”

    My understanding of the above comment is that govt is placing a greater reliance on FDI to create growth also with a greater importance to removing those hurdles that slow down the process , However one of those obstacles is an ongoing process by way of opposition to send the wrong messages that taints which also needs to be dealt with forcefully
    Now that you have revised and revisited what the MOF said about small areas of divestment which is totally opposite to the wholesale of some of Barbados entities would you explain how will the Mottley crew handle and manage the affairs of an economy which undoubtedly would be saddled with high unemployment and Unions back lash after the sale of the big three
    I know you cannot answer those questions doubt very much if the BLP can answer them but for you and the blp the only thing that matters is bringing the deficit down and for the operatives the one sure political stick that measures an economy and which might help them win an election which makes to belive that all the other issues are secondary to the betterment of a nation health

  30. Well Well & Consequences Avatar
    Well Well & Consequences

    Miller…the ACs are trying to confuse you with rubbish…lol

  31. millertheanunnaki Avatar
    millertheanunnaki

    @ ac September 26, 2016 at 7:30 PM
    “My understanding of the above comment is that govt is placing a greater reliance on FDI to create growth also with a greater importance to removing those hurdles that slow down the process , However one of those obstacles is an ongoing process by way of opposition to send the wrong messages that taints which also needs to be dealt with forcefully..”

    To the more literately sophisticated member of the asinine corsortium:

    It seems as if you are taking forever in ‘removing those hurdles that slow down the process’.

    What or who other than the toothless Opposition is preventing you from implementing your projects?

    Why this lame excuse of blaming the Opposition. The people elected a government to govern including implementing policies and programmes for the betterment of the nation.

    Where is the promised Sugar Point Cruise Ship terminal? Did the Opposition put a stop to that?

    Where is the Andrews Modernized Factory designed to generate 25 megawatts of electricity right through the year in and out of crop season? Did the Opposition put paid to that Innotech kickback scheme of river tamarind burning?

    Where is the replacement for Cahill or would you soon be announcing the opening of Greenland as an environmentally friendly technologically advanced dump that not even a toffee paper would be seen like the water-less toilets to be sold to the long-suffering people of St. Joseph?

    If you were an employer what would you do if an employee just cannot get his act together and consistently fails to perform despite the many warnings and agreed commitments to execute specified tasks?

    Keep him around your place of business or fire the incompetent bastard?

    That’s what Bajans need to do with you lot!

  32. Artax Avatar
    Artax

    Where is the EVIDENCE to SUGGEST that PRIVATIZATION would ULTIMATELY result in MASSIVE LAY-OFFS of employees? This assumption would hold true if the entity was over-staffed in the first place.

    When privatization became an issue during the 2013 election campaign, it was the DLP that convinced Barbadians if the BLP were elected, they would privatize state corporations, which would result in increased bus fare and pensioners having to pay bus fare, garbage collection fees and massive lay-offs.

    During the retrenchment program more than 5,000 people were collectively retrenched from a number of state agencies, with some individuals having to wait almost 2 years before they received their severance payments. In July 2016, the ERT ruled that the former NCC employees were unfairly dismissed. This is now 3 years and they are yet to receive compensation.

    Perhaps at that time, on one hand, government took into consideration that “some of the jobs created might seem counterproductive and burdensome to an economy,” but on the other hand, they refused to acknowledge “when one goes back to the drawing board the question of high unemployment is an issue which cannot be avoided for any govt.”

    The resident yard-fowl wrote the following comments as justification for employing people in the public sector:

    “Barbados DOES NOT have the LUXURY like other large economies to ABSORB LARGE AMOUNT of JOBLESSNESS by the private sector REASON WHY GOVT AFTER GOVT IS SADDLED AND FORCED TO CREATE JOBS, some of the jobs created might seem counterproductive and burdensome to an economy but when one goes back to the drawing board the question of high unemployment is an issue which cannot be avoided for any govt.”

    Yet this DLP administration and their yard-fowls blamed the former BLP administration for employing too many people in the public sector, which resulted in the retrenchment program.

    Perhaps creating jobs is travesty for the BLP, but a social good for the DLP.

    One sided politics!!!

  33. David Avatar
    David

    CEO of Cave Shepherd John Williams delivered a devastating delivery on the state of the Barbados society, with recommendations carried on VOB this evening.

  34. Tell me Why Avatar
    Tell me Why

    ac simply looking for ideas that can be implemented. ac is crafty; ac using logic to show you that she/he/it is a spin doctor.

  35. Well Well & Consequences Avatar
    Well Well & Consequences

    That is why I keep telling the ACs…the information is for sharing, not for plagarizjbg/stealing to take credit for. ., if the dumb slaves in parliament use the information to benefit ALL the people on the island…fine.

    ……. if they are going to use the information on the blogs as a tool to lie and trick the people to be reelected…then they should be exposed.

    I always remember what I post and on 2 or 3 occasions the ACs plagarized my comments as their own….they cannot be trusted.

    Since then I monitor them…If ya would thief words…..what wont ya thief.

  36. Watchman Avatar
    Watchman

    @ Miller

    This AC busying with comments and using words such as” push ahead, radically and growth” sound a lot like Walter PPK Blackman join the ACs

  37. Tron Avatar
    Tron

    Where is Sinckler´s “higher level of existence”? A villa at lake Zurich? A penthouse in Singapore? Indeed, the local establishment already reached that level: Living in their big villas in gated communities, driving cars worth nearly a million each, at the weekend shopping in NCY.

    In the meantime, the life of the masses reached the bottom line: higher taxes every year, overcrowded schools, 20 year old bumpy Japanese cars, poor medical care, access to university denied, no future.

  38. Well Well & Consequences Avatar
    Well Well & Consequences

    Watchman….Lol…..the ACs are just copying and pasting other people’s words to get the right mix, not an original thought in their big, empty dumb heads…ain’t fooling anyone but themselves.

    http://www.mymodernmet.com/profiles/blogs/meditation-detention-holistic-life-foundation

    Here is infirmation that can be successfully used in ALL the schools in Barbados and the Caribbean to minimize the unrest and help kids know and understand themselves…it works very well for adults, it will work even better for kids….starting it in the elementary/primary schools…..ALL the schools.

    Engaging a few yoga instructors will save millions of dollars worth of problems later, including incarcerstions of teens and young adults, particularly the males.

    This information is not to be stolen for others to take credit and look good….it’s to be shared to benefit everyone.

  39. ac Avatar
    ac

    The same ole political rhetoric coming from the same ole guards that lives within the BLP having a mountain of accusations and criticisms but like trump and his followers are slow to answer the burning questions concerning the economy high debt vs Privatization,
    The present govt response of Stabilty has been achieved hence the social environment remains in tact, small growth which as stated by the IMF has begun, No one should be expecting a miracle within the frame work of a sluggish global economy and this nations dependency on its economy solely driven by tourism which started to show gains about three years govt should be commended that within a five year period of no growth it was able to keep the nation stable without having to face the hostile environment of a destabilizing social environment which other large countries undergo
    Paying our debt would be of major concern but comes with a heavy price unless corrective and practical measures are effectively placed to balance and weight the values of the positive vs the negative .

  40. Watchman Avatar
    Watchman

    @Ac

    Name one good thing that your /the DLP leader did as PM of Barbados that can match any of the many good things the late Tom Adams of the BLP did,

  41. Frustrated Businessman aka 'Nation of Laws' my ass. Avatar
    Frustrated Businessman aka ‘Nation of Laws’ my ass.

    ac September 27, 2016 at 6:28 AM #
    The same ole political rhetoric coming from the same ole guards that lives within the BLP having a mountain of accusations and criticisms but like trump and his followers are slow to answer the burning questions concerning the economy high debt vs Privatization,

    Stop spewing your disinformation bullshit.

    Several business people in this country have offered to help since 2008, your pimps have chosen to align themselves with the ones who pay bribes.

    Several business and economic minds have publicly pointed out where you are going wrong. You have chosen to ignore them while collecting your bribes for ridiculous projects like Andrews Factory, Canadian solar farms, Cahill etc.

    You have chased away every credible investor entering this country by bribery solicitation and snivel service ineptitude.

    You have bled this country dry while indebting us for generations to come.

    ‘It;s not your fault’? If I attempted brain surgery with only a business degree would I be responsible for killing the patient or would it be the nurse’s fault for not pointing out where I am going wrong?

    There will be no economic or moral recovery under Fumble’s Fools. Just take the money you already stole and go away.

  42. Artax Avatar
    Artax

    The same old political rhetoric coming from the same old guard that lives within the DLP. You are just putting a few “fancy sounding words” together to make appear as though you have knowledge of what you wrote.

    What is the correlation between privatization, this island’s high debt and running a high deficit?

    In what context is “social environment” being used?

    To state “The present govt response of Stability has been achieved hence the social environment remains intact,” is political rhetoric. In other words, that statement is “elaborate, pretentious, insincere and intellectually vacuous.”

    The social environment “refers to the immediate physical and social setting in which people live or in which something happens or develops.”

    This inept DLP administration retrenched a number of people from the public sector, some of who are still awaiting their severance payments. Especially those former NCC employees who stand to lose a significant amount of their severance payment because the imbecile we have as a prime minister lacked the courage to tell Denis Lowe and the NCC they were wrong for not adhering to the “last in, first out” protocol. Instead, Stuart preferred the ERT, chaired by his mate Hal Gollop, to his job for him. The former NCC workers were the losers as a result and are yet to be compensated. How has the government been able to keep these former employees’ social environment in tact?

    We have instances where people have to wait over an hour for an ambulance. Water woes disrupting the “social environment” of rural Barbados.

    Over 50% of Transport Board buses off the road, affecting the “social environment” of those individuals who continually arrive late for work as a result.

    Barbadians having to wait every two weeks before garbage is collected, adversely affecting the health of Barbados’ “social environment.”

    How has the Barbadian “social environment remained intact” when people have to wait for months before receiving their sickness, maternity or unemployment benefits, while others have been awaiting their income tax refunds since 2012?

    Why does an unemployed individual have to register at NIS in Culloden Farm and then have to trek to Warrens to register with the unemployment bureau or the process of applying for a learner’s permit entails the applicant going to three different offices?

    Why in 2016, it takes people an entire day to renew their driver’s license?

    A myriad of problems affecting Barbados, and you want intelligent people to believe government has been able to achieve stability and kept the social environment intact.

  43. Watchman Avatar
    Watchman

    @ac

    Can you name anything other than your PM is the master of avoidance strategy

  44. Well Well & Consequences Avatar
    Well Well & Consequences

    Lol….tell them parasites them Frustrated….their bribetaking and corruption is now choking them…no one wants to see them…lol

    Art..they are incompetent, int…they are proficient bribetakers only,,., a blight on the island…a blight on the people and society….a pox on the nation.

  45. ac Avatar
    ac

    @watchman

    First one must put all things in their true perspectives considering circumstances and factors. Not quite fair and entirely reasonable to compare govts which benefit from years of prosperity having positive global economic factors to govts not having all of the same reliances. Not Fair..However what i would say where credit is due it should be given and fair and rational assement should be given to all factors that control any economy positive as well as negatives.. so far govt initiatives where highly important to the stabilty of the country social as well as political enviroment although not well received by some in the local populace those initiatives and their values created an enviroment by which FI can thrive
    The constant sounds of the deficit are all well and good and should by all means taken with seriousness. However one cannot overlook that small nations problems if not seen in the whole as a society ..measures taken that exclude rather than include can create more harm than good

  46. Hants Avatar
    Hants

    http://www.nationnews.com/nationnews/news/87399/editorial-dithering-barbados-loses-ground

  47. millertheanunnaki Avatar
    millertheanunnaki

    @ ac September 27, 2016 at 9:25 AM

    What a load of piffle!

    Why don’t you accept that if not for the dramatic fall in oil prices during the last 2 years the foreign reserves would have disappeared and the Bajan dollar devalued under the current administration?

    The days of Bajans living high off the hog by borrowing other people’s money are over.
    Export or perish.

    It is precisely of this nightmarish scenario the DLP will be vacating office in early 2017.
    Let the shit hit the fan under them, you say!

    But what would be destructive shit to the Bajan high-life flyers will be a welcome dose of fertilizer just needed to reinvigorate local agriculture.

    Remember all you got is sea and sand. Trying eating that!

  48. Watchman Avatar
    Watchman

    @ AC

    you can’t name a thing you present Leader of the DLP done in this Country, that stands out, other than, he is by far the ugliest person in every form to hold office as PM,

  49. ac Avatar
    ac

    @watchman .i belive your question should be phrased in its true context. What has the govt done for ME..with an emphasis being on self interest therfore in that context depending on what serves you best the answer would be Nothing
    However govts cannot perform solely in the interset of a few.I have already pointed that this govt intiative of securing the social enviroment of this country has worked to the benefit of all.
    The proof being there is not upheaveal or chaos in the street sufficient and well enough formulated that no govt. following would not have to worry about and that includes you and me and the rest of society
    A well healed social enviroment is part of good governance

  50. Artax Avatar
    Artax

    “……….so far govt initiatives where highly important to the stabilty of the country social as well as political enviroment although not well received by some in the local populace those initiatives and their values created an enviroment by which FI can thrive…”

    Miller described the last set of political rhetoric as “a load of piffle,” I, however, will describe the above rhetoric as pure shiite.

    Yard-fowls must accept that, so far, the “government’s initiatives” have failed and were NOT well received by those in the international arena; hence the numerous consecutive credit rating downgrades.

    Even a secondary school child learning CXC economics would be aware that investors lose confidence in countries that have accumulated a number of credit rating downgrades, thereby creating an environment where those countries would experience difficulty in attracting foreign investment.

    Where is all this foreign investment? It is the SAME projects Sinckler et al have been talking about since 2010 that are yet commence construction.

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