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Economic Forum Hosted by the Central Bank of Barbados

Central Bank of Barbados Governor, Dr. DeLisle Worrell and a panel of experts comprising Professor Winston Moore, Head of the Department of Economics at the University of the West Indies, Cave Hill; Donna Wellington, President of The Barbados Bankers’ Association; Reginald Farley, Executive Director of the Institute of Chartered Accountants of Barbados; and Jewel Brathwaite,…

centralbank-forum
From the left, Jewel Brathwaite, journalist, Dr. Winston Moore,Head of the Department of Economics at the University of the West Indies, Cave Hill, Governor of the Central Bank DeLisle Worrell, Donna Wellington, President of the Barbados Bankers Association and Reginald Farley, Executive Director of the Institute of Chartered Accountants of Barbados

Central Bank of Barbados Governor, Dr. DeLisle Worrell and a panel of experts comprising Professor Winston Moore, Head of the Department of Economics at the University of the West Indies, Cave Hill; Donna Wellington, President of The Barbados Bankers’ Association; Reginald Farley, Executive Director of the Institute of Chartered Accountants of Barbados; and Jewel Brathwaite, a well respected business journalist discussed a wide range of topics related to the economy.

Throughout the evening, the panel took questions from the forum’s two moderators, Dean St. Hill and Patrick “Salt” Bellamy, as well as from the studio audience and from Facebook, where the event was being livestreamed. Over the 90 minutes, issues such as the fiscal deficit, the decline in the island’s foreign reserves, the printing of money and the effects of low productivity were debated with a great deal of candor. (Central Bank website)

Watch the entire forum below :

 

124 responses to “Economic Forum Hosted by the Central Bank of Barbados”

  1. Artax Avatar
    Artax

    Why are Barbadians of the opinion that subsidized bus fare is a “legal entitlement?” In the other Caribbean islands where in some cases wages are much lower than what are paid in Barbados, people pay bus fare according to distance travelled.

    In St. Vincent, the bus fare from Arnos Vale to Kingstown, for example, is $1.50, while fare from Kingston to Endinboro is $1. From Kingstown to Georgetown, Owia, Orange Hill or Fancy could cost as much as $7. Why should Barbados be different “just because” a few people gine talk ‘bout the “poor black man” or they have 6 children?

    Similarly to free tertiary level education, subsidizing bus fare has already become unsustainable.

  2. Bernard Codrington. Avatar
    Bernard Codrington.

    @ David at 12: 21 PM

    You do jest! You know that if I had the power to allow I would have disallowed. In fact you know that I would not have allowed it to reach this stage. So Sorry I have no such power!!!

    This stage could have been prevented by proactive intervention back in 2009. One may argue that hind sight is 20/20. But I am sure I did make some suggestions back then. Any how the past is the past. Let us advance.

  3. Bernard Codrington. Avatar
    Bernard Codrington.

    @ David at 2: 11 PM

    Do you notice the correlation between high income and high ratio of Debt to Income ?
    Does high debt ratio translate to high income growth? Or is this a spurious correlation?
    Have a look at Singapore, OECD, and North America.

  4. ac Avatar
    ac

    look not looking for political answers but solutions than are long term and which can add to the positive outlook of the economy
    The 4 examples are just a drop in the bucket which would barely close the debt and if any thing might add to the debt given that job losses would be included in an effort to save

  5. Dompey Avatar
    Dompey

    Now rather than looking at the privatization of the Transport Board to generate the much needed capital as the sole alternative, why can’t we look at alternatives such as:

    1) A one day bus pass
    2) A week bus pass
    3) A ten ride bus pass
    4) A monthly etc

    But this is going to require the modernation/ computerization of the Transport Board, but it will genarate addition capital.

  6. David Avatar
    David

    Do you believe in your wildest dreams that ac (a yardfowl) will agree with any thing you suggest?

  7. David Avatar
    David

    @Bernard

    You maybe onto something.

    To much monopoly money chasing goods in an economy where importation is king.

  8. Artax Avatar
    Artax

    Of course not, David.

    The ac consortium of DLP yard-fowls believes the solutions to reducing the deficit lie within the walls of George Street.

    However, so far the only thing coming from that venue is they telling people “it can’t be business as usual” and “to bring solutions,” while Barbados descends further into a mire of “economic poverty.”

  9. Ping Pong Avatar
    Ping Pong

    Artax

    everybody in authority is fully aware of your proposals. There is no reasonable argument against your proposals. Yet nothing is being done. Why?

    Those in authority are busily preparing their “bunkers” abroad!

  10. Well Well & Consequences Avatar
    Well Well & Consequences

    Dompey….those demons for ministers are probably planning a fire sale of Transport Board, they do not know any better.

  11. Artax Avatar
    Artax

    How will the Transport Board be able to “generate additional capital” by issuing one day, one week, ten ride or monthly bus passes?

    TB sells tokens, which is essentially similar to bus passes. Hence, a commuter could buy tokens equivalent to the days alluded to.

    TB’s service is inefficient and unreliable. Commuters have to wait inordinate amounts of time for buses to service routes. Therefore, it would be ludicrous for an individual to purchase, for example, a monthly bus pass, to confine him/her to relying specifically on TB, when they could use private PSVs, without incurring an additional expense.

  12. enuff Avatar
    enuff

    @Dompey

    Why a private company can’t introduce the same choices? ZRs and minibuses are PRIVATE but they still charge the same fare as Transport Board. Government can sell TB and still set fares and routes. How is it ok to sell BNTCL to Sol a retailer but TB is sacrosanct?

  13. Artax Avatar
    Artax

    The ac yard-fowls were highly supportive of government’s retrenchment program, which resulted in over 6,000 public sector employees being retrenched from various statutory corporations.

    They were equally supportive of Sinckler’s proposal to review the operations of 19 other statutory corporations, in an attempt to streamline, amalgamate or close those entities where it is feasible.

    Additionally, their contributions to the article “discussing” the sale of BNOCL to SOL, clearly indicated they were also in agreement with this transaction.

    These actions would result in job losses and add to the debt, important facts they chose to conveniently overlook, while demonstrating their usual unwavering support for whatever this inept DLP administration undertakes.

    So, now the Transport Board is thrown into the mix, they are now crying: “…..and if anything might add to the debt given that job losses would be included in an effort to save….”

    However, if Sinckler were to announce tomorrow government will privatize TB, the ac yard-fowls will “change their mouths” and find all types of reasons to support it.

  14. Gabriel Avatar
    Gabriel

    Besides taking Barbados for a wild joyride of borrowing,spending and not accounting for either,this poor rakey parliament, mainly consisting of wild boys so named by one of their own,has brought about the demise of several NCC employees all of whom should have been dealt with fairly by the LIFO method and the manner of compulsorily terminating the BIDC staff unfairly citing age factors,in itself discriminating once again.Nothing seems to be working in Barbados…..transport,road works,garbage collection,foreign excnahge earnings emasculated by giving Butch Stewart half a billion dollars in tax breaks,building maintenance,education,tourism,housing,agriculture,the economy…..it’s a sad time for Bajans and it’s time to return to the country for a mandate.

  15. ac Avatar
    ac

    To answer you comment .There are policies which are directive to governance and there are politricks which are beneficial to self interest with a harm of destroying the foundations of a country

  16. Colonel Buggy Avatar
    Colonel Buggy

    Word on the street is that government will shortly be entering another phase of layoff , starting with postal workers.

  17. Artax Avatar
    Artax

    Yes, during the past 9 years, the foundations of Barbados are slowly being destroyed by the policies of this inept DLP administration. This fact has been substantiated by the numerous consecutive credit rating downgrades, reports by the IMF, other regional and international financial and credit rating agencies, local and regional economists.

    However, and most importantly, the DLP’s own Dr. David Estwick PUBLICLY ADMITTED that his government’s economic policies FAILED to achieve the desired objectives.

    “Estwick observed that the pet Democratic Labour Party (DLP) social projects – free bus rides for schoolchildren, summer camps and the CREATION of Constituency Councils – “should not be introduced when your REVENUE is DECLINING and you have no way of knowing the duration of the recession”. He REJECTED the lay-off of civil servants as a METHOD of SAVING the economy, saying: “Prime Minister, RETRENCHMENT is NOT a POLICY! It is an ACTION of LAST RESORT because of FAILED POLICIES.” [Daily Nation, February 14, 2014]

    “Cheese on bread,” rather than accept or work with solutions presented by the various economists, financial institutions, special interest groups and organizations, or even Estwick, this inept DLP administration prefer to follow a failed path for the past 9 years EXPECTING DIFFERENT RESULTS.

    Instead of extending the 10% reduction in their salaries to remain in SOLIDARITY with public sector employees who had to endure salaries/wages freeze, amidst an increase in taxes and the cost of living, over the past 7 years, these greedy, selfish DLP politicians went to parliament to reinstitute their 10%. Is this not a clear INDICATION of “self interest?”

    Are these not CLEAR EXAMPLES of “politricks which are BENEFICIAL to SELF INTEREST with a HARM of DESTROYING the FOUNDATIONS of a country?”

  18. BAFBFP Avatar
    BAFBFP

    What if China is funding both Parties .. they have been courting lawyers from both Parti for the past few months, any plans to develop manufacturing in Alternative Energy components will die in the water .. or more accurately in the Customs warehouse at the seaport

  19. Prodigal Son Avatar
    Prodigal Son

    @ Artax February 9, 2017 at 8:27 AM #

    “After refusing two requests to be included in a team of economists, where his skills could be utilized in service to Barbados, Arthur is now saying: “The time has come for a national consensus, that the Prime Minister tries to generate, as to how we are going to address the expenditure adjustments that are required,” Arthur said. [Barbados Today, February 9, 2017]”

    …………………………………………………………..

    As usual, excellent post…..right on point!

    I only just read Barbados Today and read the article by OSA. For a man who I greatly admired, I have to shake my head.

    He went on a rampage when MAM suggested that he should be a part of a national consensus and all of a sudden he wants a consensus? He said then that the dems would not listen in any case and that the dems would blame the outcome on the BLP. So why the change of heart? Back then when MAM suggested the coming together, it would have made all the differnce in the world no now. Let the dems burn in their folly and arrogance.

    Is this to give his friend, the three time loser time to establish a movement? This country at the brink of the cliff and he does not want an election? I hope she has the decency to resign frm the BLP or is she baiting the BLP for a fight when they have to expel her.

    The people that have us in this perpetual state of decline cannot be the ones to bring us out. They do not know what to do.

    By the way, where is Donville Inniss on this mess with the CBB governor and the directors?………he puts his mouth in everything.

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

    @ Artaxerxes

    You is a man with the archiv keys.

    I would ask you to research th very first time that the bajan electorate heard of Justine Robinson

    It was with a so called project to harmonize the transport board buses AND MORE SPECIFICALLY he was the genie who was engaged and paid $400K de ole man wa told to organise dat free bus rides fr schoolchildren and ole peoples dem.

    Dis is why de ole man always talking bout REMEMBRANCE.

    Dis i de same man who was to mek de transport board system more efficient and the network of public and private buses reach every body who, after getting he money, ef up de damn system and now Lashes and panday and one Alex Linton Director of the Transit Authority doling out more licenses dan de routes dem selling can tek.

    Jes Like Boyce and Johnny Tudor before he.

    VOTE ALL UH DEM & DE BLP OUT

    I got to change me display picture

  21. nineofnine Avatar
    nineofnine

    Salutes ***

    …”Arthur is now saying: “The time has come for a national consensus”.

    Its’ great to hear this conclusion, sadly it came AFTER the horse has bolted the stables.
    ………

    …”How about focusing on practical strategies to increase work discipline and productivity?”

    How does this create Forex or curb its flight? Forex is IMPORTED, to be exported.
    ………

    …”How about focusing on practical steps to encourage the establishment of new industries, new product lines, new ways to earn export revenues?”

    NOW we talking.
    1. Lets look at consumer goods as per the Bajan household. Fridges, stoves, washing machines, television sets, computers, furniture etc.. Produce these items locally for consumption and for export. Facilitate Industry.
    2. Use what we have and work with it.
    THE TOURISM PLANT. Like Bajans and the world over, when it comes to school holidays, parents seek to have their children/STUDENTS engage in activities or “babysitted”, Target that niche market. GET THEM HERE, make it irresistible.
    ………

    …”Bajans either have to produce more that can be sold on the global market, reduce their consumption of foreign goods and services, or both”.

    Why is it that a handful of persons can by the scribble of a pen burden a country and then expect the population to facilitate their encroachments and not seeing value for dollar?
    Bombarding THE PSYCHE about productivity will nor produce it, empowerment will.
    THE ECONOMY is not an organism that we must support, but a MECHANISM FOR CREATING WEALTH, broadly distributed and working for EVERYONE, and until we GET IT RIGHT (the perspective) there will be the adverse cuts and cutbacks, retrenchments, and failures et al…
    ………

    …”The solution to the problem would be to do as Adam Smith has stated long ago: “If you can import a commodity at a cheaper rate rather than to produce it as an exorbitant rate, then do so and vice versa”.

    ANY PRODUCTION LOCALLY should carry little or NO Forex input. Imports on the other hand is a definite bite in Forex. If Mr. Smith lives in the US, then it benefits him. The rate exchange enriches him.
    ………

    …”One of government’s policies to REDUCE the DEFICIT was to retrench over 5,000 employees from an already INEFFICIENT public sector. With a reduced workforce and no significant improvements in TECHNOLOGY or EFFICIENCY, the public sector remains “inefficiently unproductive and uncompetitive.”…

    Although true to some extent, the public sector, should not carry the blamed when expected output is reduced. The private sector numbers must also be factored in the equation.
    Who creates the revenue for the Government? well, by cutting and slashing they are self imploding,

    …”This evidenced by the amount of time it takes to undertake simple tasks such as renewing a driver’s license, applying for a driver’s permit or police certificate of character”.

    Inefficiency yes, but does not effect Forex and that PCC is a compulsory forfeiture of ones constitutional right by employers using the system.
    ……….

    …”I also believe government needs to implement new, innovative policies to improve PRODUCTIVITY and COMPETITIVENESS, which are important factors in generating net foreign exchange inflows and influencing economic growth”…

    Again its the PERSPECTIVE. Bajans love Flying Fish and to get them they have to venture OFFSHORE.
    USDs are offshore, we cant print them here, yes we can produce to sell offshore but we can work offshore to get them here. NICHE MARKETS.
    ……..

    …”He talked about elimination, not reduction of the current account deficit, he slammed bureaucracy for the lack of construction jobs, (he formerly referred to administrative delays) and after the professor had grouped government spending into 3 categories, the Gov chose to highlight twice, public wages as the main culprit. He avoided any reference, as he has done in the past, to the measured success of government fiscal policy initiatives.
    When Ms. Wellington suggested the BRA capture net possibly had in too many holes. the Gov didn’t bite. He ignored the revenue side and focused on costs/expenditures, suggesting his opinion is the revenue generating tools are maxxed out”…….

    ANYONE (in the know) can see that the statements made OF elimination, bad bureaucracy, delays, public wages (too high?) fiscal policy and the mention of CONSTRUCTION JOBS letting the cat out the bag, a very good spokesperson indeed.
    ………

    …”Govt. expenditure in health and education. Terrible in need of a drastic fiscal overhaul”….

    A drastic overhaul?…. for better or worse? we talking about people standard of living.

    ITS GETTING TO A STAGE WHEN PEOPLE WILL SAY “ENOUGH IS ENOUGH”.
    …….

  22. Well Well & Consequences Avatar
    Well Well & Consequences

    https://www.barbadostoday.bb/2017/02/09/transport-board-slams-brakes-on-napsac/

    Looks like Transport Board is finally falling apart completely, it’s been a while in the making, so who is going to purchase it with CGI Insurance and Peter Harris created liabilities piled up high in the Supreme Court.

    Harris might have to purchase Transport Board himself if government throws up their hands in the air and holds a fire sale, after all he is responsible for all those liabilities, with his years pf playing slick and dishonest in refusing to settle or bring closure to personal injury cases and he himself just held a fire sale of CGI Towers to Scotia Bank, word is he had to take the money that was offered for the building for a number of not surprising reasons, hence the secret sale.

    All the nasty things they are doing to the people, has finally reached its limit.

  23. Artax Avatar
    Artax

    I understand that many of Transport Board buses parked at Mangrove are in need of minor repairs and replacement of differentials.

    However, as was the “policy” of TB for years, many buses are “cannibalized” to keep other units operational. In other words, if “Unit A” is need of “part A” and that part is not readily available, that is unit is used to source parts to repairs other units, until it is no longer in “serviceable condition.”

    I also heard that Lashley has secured a number PSVs which are serviced or repaired by the TB. If these allegations are true, then I see a deliberate attempt to “sabotage” TB in an effort to provide a basis for a proposal of privatization.

  24. ac Avatar
    ac

    The idea that in tge 21st century govt can continue to deliver free education and health care across the board to every individual is ludicrous and a luxury no govt can afford.
    Somebody needs to give a straight talk of advice to this society because sooner or later there would be nothing to look forward or nothing to give
    Govt need to look at models that give preference to the most vulnerable while implementing policies which would introduce plans for others to pay a certain percentage of their salary towards health care with a provision on a lower tax scale

  25. Vincent Haynes Avatar
    Vincent Haynes

    Chuckle…….Our politicians should be more Trumplike and deliver exactly what they have said on the political platforms and in their manifestos,hopefully this will happen this time around.

  26. Well Well & Consequences Avatar
    Well Well & Consequences

    https://www.barbadostoday.bb/2017/02/11/hyatt-approved/

    Hyatt got approval oh well….big shit sailing on the ocean, oh what promotion…lol

    Wonder if any government ministers or yardfowls went swimming in the shitbomb by the River bus terminal yet, they should,

    Ya do not want small island idiots of parliament emoluting a bigger idiot and illiterate in the white house, Barbados has enough problems with its current retarded leaders as it is would would be more than happy to destroy their own people….that is what the US is fighting against with their resident illiterate leader.

  27. Well Well & Consequences Avatar
    Well Well & Consequences

    Exactly how do these lawyers know an impact study is not needed for this project…….the Town Planning Act of requirement has nothing to do with public safety……are they engineers, was a study done before, if done years before, rising sea levels and beach erosion is now more dangerous than ever, are they thinking of that or are just fueled by greed and arrogance and no sense or care for safety.

    Kick Fruendel out of parliament next year.

    “Hyatt approved
    Final decision to be announced in two weeks, say officials

    Added by Neville Clarke on February 11, 2017.
    Saved under Local News
    0
    The final decision on the controversial Hyatt hotel on Lower Bay Street, the City will be announced in two weeks, official sources have said.

    The sources told Barbados TODAY that approval had been given by Prime Minister Freundel Stuart for construction of the multi-million dollar development to begin, and Town Planning officials were simply putting the finishing touches to the agreement before the announcement is made.

    According the officials, lawyers have advised that an environmental impact assessment (EIA) was not required under the Town & Country Planning Act, therefore there was no reason for any further delay to the US$100 million Hyatt Centric Resort.”

  28. Violet C Beckles CUP Avatar
    Violet C Beckles CUP

    vote buying year 2017, votes for jobs, vote for jobs, sell out ,,, He thinking he will keep his seat by talking jobs, He has been a crook for far too long and must be replaced, Crooks come with the same MO all the time, People need to see that, Hows many jobs must i report in the news to have suckers vote for him again? People let their ears fool them ,

  29. Well Well & Consequences Avatar
    Well Well & Consequences

    https://www.barbadostoday.bb/2017/02/11/go-after-the-private-sector-govt-told/

    This is a start.

  30. Artax Avatar
    Artax

    The following is a response by Mark Adamson of the PDC, to Barbados Today’s article of Monday, February 13, 2017 re: “Pressure mounting on Central Bank Governor.”

    Mark Adamson
    February 13, 2017 at 2:32 am

    The below post is a reproduction from a Facebook post that was helped done by me some weeks ago.

    “Dr Delisle Worrell must be FIRED from his position as Governor of the Central Bank of Barbados.

    For, et al, it is methodologically and logically improper and unsound for him to have been recommending to the government of Barbados any tightening of fiscal or monetary policy based on some failure of the country to establish the principle of balancing foreign receipts inflows with foreign receipts outflows in the relevant financial accounts of the government of Barbados.

    As a matter of fact, it is egregious for him and the government to make countrymen and women believe that any political economic and financial agenda of this country could be based on such a principle of balancing foreign receipts inflows and foreign receipts outflows, when it is impossible to non-nonexistent, in the first place, for any country to establish such a principle of balancing foreign receipts inflows with foreign receipts outflows, primarily because foreign receipts inflows are one set of variables totally different and totally mutually exclusive to foreign receipts outflows – another set of variables.

    Hence, it is absurd for any one to make any one else believe that there are points at which such receipts inflows and receipts outflows balance, when the truth is that there is absolutely no relationship between those two sets of variables, and when the forces driving foreign receipts flows inwards and the forces driving foreign receipts flows outwards are moving in two groups of totally different directions.

    Hence, it is impossible to non-existent for any government to bring about any measures that can be used by itself and the relevant others to control those ever very diverging forces to the point of bringing about such balance.
    What is needed to be done from now on, in this country, is for foreign receipts inflows and the circumstances and forces giving rise to them to be treated on their own, and foreign receipts outflows and the circumstances and forces giving rise to them to be treated on their own as well.

    All the aforegoing shows why so-called exchange rate parities involving the Barbados Dollar (metaphor) are totally absurd and preposterous, and shows why economics remains the most vile and discredited of all the social studies disciplines in this world.”

    +++++++++++++++++++++++++++++++++++++++++++

    Mark Adamson………. UTTER NONSENSE!!!!!……….I’ve never read such rubbish in my life and what is even worst is the fact that you were brave enough to mention “a Facebook post that was helped done by me some weeks ago.”

  31. Artax Avatar
    Artax

    Freundel Stuart should have given Chris Sinckler an ultimatum as well.

    Barbados is perhaps the only country in the world where a Minister of Finance has continually demonstrated he and his policies are abysmal failures and he has not seen it fit to resign or the PM relieving him of his portfolio.

    However, the performance of Dr. Worrell and his subsequent “attempted sacking” is an indictment on Sinckler and by extension, this inept DLP administration.

  32. David Avatar
    David

    There is a reason why Adamson’s (PDC) comments have been rubbished by the BU family.

  33. David Avatar
    David

    Another distraction at the worse time.

  34. Own Area Avatar
    Own Area

    GOVERNOR OF CENTRAL BANK of Barbados Dr Delisle Worrell went to the High Court yesterday and successfully sought a temporary injunction against the Minister of Finance
    In an unprecedented move, Worrell was granted a Sunday night hearing before Justice Randall Worrell in the Supreme Court, where the Governor’s lawyers were successful in their request.
    Sources said Worrell was reportedly given a choice – resign or be fired.
    The economist, who is in his 70s was appointed Governor in 2009 and received another five year term in 2014.

  35. are-we-there-yet Avatar
    are-we-there-yet

    David;

    What distraction, what?

    Dis is de real ting!

    Just think.

    Why would the GoCB, after printing money for years, at the order of the MoF, suddenly make noises to suggest that he couldn’t continue to do that?

    What does the whole debacle at this time suggest is the real state of the foreign reserves?

    What is the only order that could have been in the purported letter from the MoF to the GoCB that could have triggered the righteous anger and reported response by the GoCB?

    Looka, we en far from dere!

  36. Vincent Haynes Avatar
    Vincent Haynes

    Will the teflon coating of this govt finally be pierced???

    https://www.barbadostoday.bb/2017/02/13/pressure-mounting-on-central-bank-governor/

  37. Bush Tea Avatar
    Bush Tea

    How is it that a government with a scant majority of two in parliament, can do so much shiite, for so long, in so many areas, …and no action is taken by the opposition to oust them?
    Surely we should get the chance to see EXACTLY which politicians will actually vote to support this kinda shiite…

    One gets the distinct impression that the opposition cares more about how best to gain the spoils of war than they do about the good of Barbados…

  38. David Avatar
    David

    @AWTY

    Think about it, it is a distraction at a time the economic engine of the country should be well oiled.

    >

  39. Ping Pong Avatar
    Ping Pong

    It seems to me that the Governor of the Central Bank is refusing to continue to print money. This refusal may be contrary to the instructions of the Minister of Finance. If money is not printed, how will public sector salaries and wages be paid? If money is printed how will the foreign reserve levels be maintained?

    The words of Dante’s Divine Comedy come to mind: The inscription above the gates to Hell read “Abandon all hope, ye who enter here”!

  40. Bush Tea Avatar
    Bush Tea

    @ Ping Pong
    The words of Dante’s Divine Comedy come to mind: The inscription above the gates to Hell read “Abandon all hope, ye who enter here”
    +++++++++++++++++++++++++++++++++++
    …and as you know, we had the formal welcome ceremony last December 1 when we dedicated the monument to Satan on the Garrison…..

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

    @ Bush Tea

    You is a man who does say soooo much in the likkle bit that you does say bout dese tings

    “…One gets the distinct impression that the opposition (THE EFFING Mugabe Lot of vipers – my addition not yours) cares more about how best to gain the spoils of war than they do about the good of Barbados…”

    And as a footnote to your observation Own Area (a play on Owen Arthur?) states “GOVERNOR OF CENTRAL BANK of Barbados Dr Delisle Worrell went to the High Court yesterday and successfully sought a temporary injunction against the Minister of Finance…”

    By themselves they would pass the eyes of 95% of the Bajan populace who ent give one shy*t but in concert one realises that the DLP appointee of the Central Bank and former servant to these masters did “without malice or aforethought, on the Lord’s Day and the Sabbath, find a Judge, to the wit one Justice Randall Worrell, purported avowed supporter of the BLP (for indeed did he not get said Judicial Position under the BLP) who did grant an injunction to said GoCB.

    De ole man like i say and AC says and Walter PPK says, ent too bright but ……

  42. Hants Avatar
    Hants

    I invite the BU maguffees to read my post in Diaspora Corner.

  43. Hants Avatar
    Hants

    Central Bank governor gets injunction to stay in office – See more at: http://www.nationnews.com/nationnews/news/93510/central-bank-governor-injunction-stay-office#sthash.ne1jlz65.dpuf

  44. Own Area Avatar
    Own Area

    Piece of de Rock

    All of that is all well and good but Delisle Worrell is a creature of the Minister of Finance and the DLP, so you know things got to be real bad, injunction or no injunction, if the MOF trying to fire him and creating a fictitious divide between the Board and CoCB, no?
    The Board and the Minister accusing him of not holding formal press conferences, he ain’t learn that from his masters?

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

    and continuing on in the thread of an ole man who is an ignoramus in things dealing with economics i will repeat this sentence from Northern Observer.

    Who in his submission earlier made the following observation/statement “…he ignored the revenue side and focused on costs/expenditures, suggesting his opinion is the revenue generating tools are maxxed out…”

    Now let de ole man give me ingrunt take bout dis issue in me simplistic way.

    from what i unnerstand bout dis economics ting as a government you does mek money by taxing tings or supporting and facilitating an environment where tings can be manufactured and sold or, as in the case of tourism, ensuring that certain enablements obtain for agrigulture, tourism, health security, transport, telecommunications etc so that industry can flourish and there can be trade (balanced)

    I can only unnerstand at de shop level, like Moon Town in St Lucy.

    So if i buy stock of value “x”, and employee salaries of amount “y” and other operational expenses of a cumulative of “z” for me to keep me Moon town shop open, my sales from stock “x” must at least be equal to X + Y + Z

    and for me to stay in business, if X increases yearly, and de union always striking to get Y to get increase den, unlessing i want to close my business I got to get tings and increase “x” sales, mek sure that de people dat i paying “y” to is wukking and deserving of “y” and manage “z”

    Now if de ole man try to translate dis to all dese big terms bout macro economics and ting it would seem that

    (i),the “x” that i have invested in for 50 years, is the same ole stock, like expired condoms and not only dem past dem expiry date, people want lambskin prophylatics

    (ii).management has hired and continues to hire more employees “y” than are needed to be in my shop, so much so that there are so many of them in the shop that customers cant move round in moon town and of course even a simpleton like Physical Defcit can understand what “z” parlays into.

    The “revenue generating tools are maxxed out” because the successive groups of simpletons that we elected to manage the shop DO NOT EFFING KNOW HOW TO AUGMENT, APPEND ADJUST OR CULL “X” and therein lies our problems

    Cause while we accept that costs and expenditures must be MUST BE culled, we have to accept that there are still employees who must be absorbed elsewhere and one would be hopeful that a skilld HR pool might be retrained to be absorbed in a planned pertinent expansion of the X portfolio.

    But such is for men of vision and cannot be found among men whose national development plan is hinged on Untested Assification Plants and Del Masturbation outdated Solar Farms

    Bless them all, they cant do any better, cuh dear…..

  46. Vincent Haynes Avatar
    Vincent Haynes

    Looks as if he is refusing to print more money thereby placing govt in a bind as far as their wage bill this month is concerned and placing their 10% increase in jeopardy.

    The only way out is to fire him,appoint someone else,print more money,ensure the feel good factor for the next 15 months,win the elections and then face the collapse of the country……QED

  47. are-we-there-yet Avatar
    are-we-there-yet

    Vincent Haynes;

    Seems to me you’ve got it. That is the most reasonable interpretation and likely outcomes of the going’s on from the few facts available. But is it fairly likely that the collapse could come much sooner than you envisaged above?

  48. Hal Austin Avatar
    Hal Austin

    Call a general election now.

  49. are-we-there-yet Avatar
    are-we-there-yet

    …… and what does the current situation suggest about the foreign reserves?

  50. millertheanunnaki Avatar
    millertheanunnaki

    @ Vincent HaynesFebruary 13, 2017 at 10:59 AM

    Vincie, it is not out of sound professional judgment the cowardly quack is jumping from the ship but because of the non-negotiable instructions from the IMF who has threatened to reveal the true state of the foreign reserves and the fudged statistics compiled over the years.
    Ask the recently retired Codrington if you think I ‘lie’!

    Confidence in Barbados and its managers are totally blown out of the water.

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