The credit rating downgrade to CCC+/C by S&P Global of Barbados has come as no surprise to sensible Barbadians. When former Governor of the Central Bank DeLisle Worrell distanced himself recently from government policy of printing money, it confirmed that the rats were jumping ship. The government has been unable to jumpstart the economy since…
The credit rating downgrade to CCC+/C by S&P Global of Barbados has come as no surprise to sensible Barbadians. When former Governor of the Central Bank DeLisle Worrell distanced himself recently from government policy of printing money, it confirmed that the rats were jumping ship.
The government has been unable to jumpstart the economy since it was entrusted to them in 2008. It is time for the private sector to turn its back on the government.
Read the S&P Global Report:
Alvin Cummins March 4, 2017 at 7:39 AM #
Is Barbados headed in the same direction? You tell me. You suggest the solutions. Remember the Minister, in fact the Government is incompetent. You and your cohorts have the solutions. Offer them in specifics. Remember I “manifest ignorance beyond my years.” However my memory is still good beyond my years
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Chuckle……you do enjoy baiting the blogmaster and the misogynist but you and everybody knows what the options facing us are as they have been raised all over the media,lastly by OSA…….
What is required as you well know is for the primus inter pares to make a decision as opposed to forming committees down at Sherbourne….but……you and I know that with elections around the corner they are caught between the devil and the deep blue sea.
I note that one of yours has suggested to inflict the pain now and gamble that in 10 months time new shoots will start emerging and Bimmers will forget,whereas the others are saying no pain untill after elections which is a recipe for a crash.
What is your advice to them Alvin?
@ Prodigal Son…….you said that it is time for these morons {your word, not mine…I lil more caustic} to put Barbados first. Respectfully I beg to differ. Barbadians have to want to save Barbados. This is no longer about B as opposed to D. This has nothing to do with admiration or the lack thereof for Mia Mottley. Two years ago it needed to be done. Now it has to be done. In the most pellucid of tones the ” Get To Hell Out ” message must be conveyed to the man who wears the title of leader. Last time he refused to accept a signed petition. He spoke of hearing noises. How funny is it that these same persons who implored Barbadians to stand in the hot broiling sun and join hands to salute a celebration that clearly defined the Haves and the Have nots, are now attempting to dissuade the masses with talk about hot sun. If the top brass of the trade union movement in this country do not sanction this civil attempt to salvage what is left of our rapidly dissolving foreign reserves, then the disservice it is doing to its membership becomes as clear as the admission of failure the warm embrace of a sworn nemesis signals… If Bajans let them off the hook by permitting this administration to run full term, then THEY DESERVE WHAT EVER THEY GET.
Maybe there was some logic to selecting the date of the BLP march.
From 2008 I told BU we were being conned. Counsel rests.
How does the church sit in silence when all the expert advice point to disaster? Perhaps if foreign reserves were related to tithes they too would support a civil action to relieve this country of today’s version of the DLP.
Hamilton…’
What does the church have to do with any of this? Even at this late stage of YOUR development you still have “faith” in the church? Two years ago when the government was proposing to take action, by first laying off NCC workers, remember the stink it caused? When, as I said earlier the marches..<ia had four marches andd an equal number of Co Confidence votes (all failures), nobody was prepared to accept any sort of medicine? Remember when the PM referred to the sucking on the tits which were sore, at the time? remember when they decided the persons attending the university should pay PART of their fees? All of that, plus others were attempts made by the government to send the message to the people, but of course nobody wanted to make any sacrifice.I hope the have the onads to lay down the hammer and MAKE everyone under stand what they have to sacrifice. Devaluation is NOT an option? Any loans; even ones from or through the IMF still have to be repaid, so that is NOT an option, and people HAVE to be made to sacrifice. Reduction of Civil Service salaries its not an option either.Go figure. When I was making reference to a person with diabetes refusing to watch their diet, the alternative now is amputation
@David, Alvin clearly can’t be “…You are one ignorant man.” He is a smart man surely so let’s not mix insults.
His lack of balance is despicable and very dangerous to a society which generally looks to its elders for balance and wisdom borne of long life experience. He offers none of that.
No one wants the man to jump from his beloved DLP but surely he can call poor performance for what it is. That he fails to do that makes his diatribes so false and factually alternative.
So the bro is not ignorant…just a ..fill the blank!
@Alvin, your PR article is to prove what exactly? The writer with all his excellent credentials is speaking to an ungainly and discriminatory process by the US congress and we can all accept that as written.
But to compare PR to Barbados in any other way without speaking to the many years that the PR people and successive governments lived a wanton life of excess as a ‘lovely playground’ of the US is UNACCEPTABLE.
You speak of your knowledge of LatAm so surely you know this PR debacle was many years in the making.
Don’t come attempting to fool anyone with one article!
Alvin Cummins March 4, 2017 at 10:04 AM #
All of that, plus others were attempts made by the government to send the message to the people, …………
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A govt is about telling the people and imposing measures…….not about sending messages.
You have not answered my question but in your above you have acknowledged the need for the govt to act forthwith hence you are also acknowledging that they have the options on the table and just need to implement one……..
Alvin why are they taking so long?
See how Barbados stacks up on the credit ratings list.
https://en.wikipedia.org/wiki/List_of_countries_by_credit_rating
@ Pachamama David
Some questions are :
How come after all these downgrades the dollar has remained at its current rate ?
Is it now sensible to go to either IMF or to devalue the dollar ?
In the midst of all this very bad news, is there not some evidence that the economy is still somewhat resilient ?
In the same report it was stated that based on per capita income, Barbados is still one of the richest Caribbean islands.
@ Alvin….. juxtapose all of the measures you listed against the sum of monies paid for a cadre of Ministers that flew hither, thither and yon…..perhaps first class every time, but with definitely minimal results every time. Please examine the contribution of those constituency councils as opposed to the costs incurred. A promise five years ago to amalgamate certain statutory institutions that never materialized, as completion as projects like the GROTTO took precedence. Alvin the more I read your contributions here, the more I am minded that you might just be one of numerous consultants who got paid……for work yet to be done. Just so that you are clear I don’t give a damn about the church. Remember Georgie Porgie? He was a perfect symbol of what Christianity represents. Freundel Stuart also claims to be a Christian, so there ya go!
@William Skinner
“Barbados is still one of the richest Caribbean islands.”
You need to take into account the excessive prices in Barbados in comparison to other islands. Does S&P mean GDP nominal or GDP in purchase power?
@William
Are you serious?
Have you visited Barbados recently to witness the crumbling infrastructure read roads, public transportation etc?
Have you listened to the former Governor with his enormous acquired international reputation according to you?
Have you listened to the President of the Caribbean Development Bank last month and what he had to say about Barbados’ economy?
Have you been monitoring the debt to gdp indicator for the last 10 years?
etc
William,,
Per capita is worked out on an average. The inland revenue has the returns that it can publish annually – without naming names – the highest and lowest earning Barbadians. Only then will be know the true picture.
Permanent secretaries earn about Bds$150000 a year. If we operate on the basis that an affordable mortgage is 3.5 times annual salary, then a PS should have a mortgage of $525000.
Start from there, then look at the model and make of car, then look at the wider lifestyle and we have an idea of people (not necessarily PSs) living above their means.
Do the same for members of parliament, the private sector (their declared incomes), etc. Good newspapers could also do this.
I just want to ask a simple question. When will government vigoruously go after the tax evaders, VAT evaders, land tax evader. Millions are owed to the BWA. I am sure many of us would be surprise who the cuprits are. I am sure if these monies were collected the amount would grow our head. It is time for this foolishness to stop. By the way IF the BLP wins the election. I am going to bet my last dollar that they still will not go after these criminals.
Why is it that the private sector can get monies owed to them but govenment cannot. This is madness.
@ Alvin CumminsMarch 4, 2017 at 7:39 AM
“First of all the man did not “jump ship” he was pushed, remember he fought it in court, of course you wanted him fired, and wished that he would leave quietly.. Second of all when, for instance, the govt attempted to make a correction; as per the enforcement of the early retirement clause with the BIDC workers, Mia and the Unions held a March..”
Alvin, you are just one nasty big-time hypo (critic).
Why did your same administration turn around and sought to extend the retirement age for the Auditor General and the DPP?
Because you ass is now grass and is about to scorched following the most recent S&P downgrade you are here singing the praises of Privatization.
What’s next on your dlp agenda of deceit lies and propaganda?
The extolling of the benefits of Devaluation to the Bajan economy?
Why go that route when you can simply put the printing press into overdrive now that abused ‘governor’ has been taken out of action by his own acts of contrition?
Wait a minute. Just read an editorial in BARBADOS TODAY. It begs the question exactly what has the level journalism in this country sunk to? How many years now have you endured the disrespect of Freundel Stuart in no less a role as that of Prime Minister? Freundel speaks when Freundel likes, and remains silent when he sees fit …..yet the press remained at the beck and call of the DLP, dictated to by the lure of advertising dollars. Same thing with the former Central Bank Governor. A serious lack of journalistic integrity allowed for him to overstep his boundaries and impose a partial media ban. Mia Mottley does not owe anyone any explanation about anything between her and Owen Arthur. Journalistic incompetence has forced the guessing game upon Barbadians about matters more relevant to our existence….How is this any different? We would rather an expose on the travails of Kamar and Roy.
@Hamilton
Bear in mind that Kaymar has always enjoyed a direct communication pipeline to OSA.
Hamilton,
Have you noticed that almost every tory on Owen Arthur in Barbados Today is written by the editor and CEO. Writing tories on ex premiers is not the job of the CEO, that is for the new editor and chief reporter.
The Editor/CEO is too busy giving direction to the publication, maintaining quality, meeting contacts, giving instructions to senior executives on directions, analysing the profit and loss of the title and talking to the board/chairman.
By grabbing the top stories the editor is in effect depriving the reporters of getting their by-lines on major stories, denying them the recognition they deserve.
If an editor is obsessed with seeing his/her names in the publication then abandon being editor and return to writing. Simon Jenkins, the former editor of The Times and London Evening Standard, did just that.
Good writers such as Paul Dacre keep away from writing on becoming editor. If you try to ride all kinds of horses you run the risk of serious injury. This may be an explanation of the bad journalism in Barbados Today.
@ AnneMarch 4, 2017 at 11:32 AM
Such a move towards efficient and effective tax collection to reduce the “physical defecate” (to use Jester Ince’s terminology) would be equivalent to throwing a “foul” cock in a pen of brooding hens.
Nothing will happen except tiresome attempts at futile false threading.
If this lot can’t go after Greenverbs $3.3 million from gratuitous laundering do you think they dare to check out maloney dirty millions in baloney receipts?
How do you think the last set of elections were financed? From bank loans taken out by starved-out politicians who recently kicked up a fuss about a measly 10% sacrifice in a bloated underemployed cabinet of jesters and johnnies?
David,
When I wrote the above I did not yet read your post. It explains a lot. That is why she censors any criticism of OSA. She is a PR person, not a journalist.
@ David
Take it easy . My questions were not a defense of government’s dismal performance. In discussions questions areoften asked to simply engage not to defend.
@ Hal,
You have a point.
Freundel Stuart is bad news for Barbados.In ’92/93 BS&T was going to withhold all statutory payments to Central Government in response to the poor performance of the Sandiford government.Its a different story with Massy being Trinidadadian owned.So that when the late king who said he would not lie,cheat or steal and the Clico mess seem to point otherwise,when the late king said if he gets control of the government before the ink dried on the sale agreement between Massy and BS&T he would cancel the sale,it turns out that its that same wrest of control from local to foreign that saves this government from imminent collapse.Rowley would receive a phone call post haste from Stellaro Court to talk to Massy.
also remember that the same late King who promised not to lie, cheat or steal said that he would have a fishing agreement with T&T signed over a bowl of fish soup in Conset bay yu hear lie dat is lie…..
https://www.barbadostoday.bb/2017/03/04/not-owen/
Ah think Barbados just hit the bottom.
“Not Owen!
Estwick won’t support Arthur’s appointment
Added by Emmanuel Joseph on March 4, 2017.
Saved under Local News
0
The first signs of dissent have surfaced from within the Freundel Stuart Cabinet as the decision by Minister of Finance Chris Sinckler to appoint former Prime Minister Owen Arthur as Government’s Chief Economic Advisor begins to sink in.
While the under-pressure Sinckler hopes Arthur will help steady the economic ship, Minister of Agriculture and Water Resource Management Dr David Estwick plans to break rank with the administration when the recommendation comes up for discussion in Cabinet.
Without expressly stating that he would vote against it, Dr Estwick today was emphatic he had no intention of taking any advice on the economy from the former Barbados Labour Party (BLP) leader.
“Let me make it clear; Owen Arthur will not advise me on economic and financial matters and leave it there.”
@ GabrielMarch 4, 2017 at 12:17 PM
Archangel, it looks as though your man King Arthur of the Fifth incarnation has again been tricked by a bigger fool the Lord High Emperor Fumble who, like Nero, is just fiddling with lazy incompetence and hastened procrastination while the ship of State Barbados is about to flounder on the rocky shores of Devaluation.
Fumble has ‘diplomatically’ checkmated OSA by his snub of rejection of Stinkliar’s proposal to take counsel from a former political bête noir and butt of political slapstick.
And in true “Yes Prime Minister” style à la Bajan version of Westminster has appointed two talk-shop committees to tell him what he has already been told since 2013 ad nauseam.
Now would you say your man OSA is of any relevance to the realm and expanding empire under Emperor Fumbling Fool?
There will not be a devaluation ..till I get my money into gold or changed into foreign currency’s. But lets try and solve the big issue here who’s picture is going to be on the sextillion bank notes.
Lawson…Stuart’s
@ David
I have received a fair amount of criticism because I focussed on those in government. Yet, I have projected similar arguments. This is a sad state and as a loyal son of the soil it comes with much disappointment. Barbados can do better and it must, but it is also very unlikely to achieve any progress regardless of numbers of tourists or how many state assets are sold. The fact is, Barbados needs proactive and confident leadership for which it has been starved for the last several years. If there is one thing Mia Mottley or anyone else will bring, is leadership. Heads must roll and I am calling for the PM to go now and carry his Cabinet with him. Thanks in anticipation for making a move that people will respect.
The Bees were out buzzing today in St. Michael West.
@ Hants
….we wish!!!
@ Bushie,
The PM has resigned himself to hurry up and wait indefinitely. lol
@ Ping Pong
…they smelling de honey.
Tek care that ‘honey’ don’t give us all the runnings….
@ Miller
Ease up with the crap nuh!!!
All Fumble has done is again make himself and his government look the fools they are…
This has NO negative impact whatsoever on Arthur…. in fact, the ONLY effect it COULD have had on him, would have been in the event that Owen had DECLINED …. in which case Stinkliar could have made a strong case that he sought bipartisan, experienced, help – and it was declined. (one wonders if this was not the plan…).
Arthur grabbed the opportunity to addressed the issues in an intelligent and statesmanlike manner and, in the short time, only enhanced his status among the shiite political class.
Meanwhile, Mia’s strength is in mixing with the low-life rabble and in strong-arming her way in the damn party against all the panty-men there with her…. It is not too difficult to see the perils of a Mugabe reign…… or why Owen had to leave….
Bright Saturday and I just had a thought.
Dennis Kellman calls into Brasstacks and pontificates about every thing under the sky………always talking about some bullit loan from Sandi time. He projects himself as a know it all on all things to do with the economy. How comes the Stinkliar did not turn to him for help to get him out of this mess?
Just wondering!!
Bush Tea March 4, 2017 at 2:34 PM #
Every time I read your posts I tell myself you would make an excellent script writer for a late night show in Bim – lol. It a pity CBC is too poorly managed to have such a show.
“Without expressly stating that he would vote against it, Dr Estwick today was emphatic he had no intention of taking any advice on the economy from the former Barbados Labour Party (BLP) leader.
“Let me make it clear; Owen Arthur will not advise me on economic and financial matters and leave it there.”
……………………………………………………..
Damned disgraceful liar…………..when he time comes to vote on it, he will meekly comply.
George Brathwaite
We have studies ‘leadership’ for many years. We have lectured and conducted many seminars on those issues internationally, making a living at it.
If you are to make an argument that indeed ‘leadership’ or new leadership is required and thus continue to posit that MAM and her cabinet are fit and proper persons to provide such.
It is then necessary for you to then explain the specific responses of these people to the problems currently faced. So that we are not then expected to be looking for manna from heaven and for MAM to be the ‘saviour’ sent from the god of your BLP.
Unlike you we are not believers and are more likely to respond with anger to anybody expecting a religious belief in things promised by messiahs with leadership histories of recent failure.
Bushie
You don’t know that it is against to law to kill people with laughter.
Panty-men!
OSA cannot deny that the BLP made him and in my opinion, he is ungrateful.
A friend of mine said this morning ……..Tom Adams must be rolling in his grave at what OSA has turned into.
At a time when he should have been mentoring the next generation of BLP candidates he all about the place lambasting the party who made him. Henry Forde set aside for him to become the leader. I spoke to one of the Great Combination a few days ago and the only word he had to describe OSA was #unt!
@ Bush Tea
OSA ran and left his party like the coward that he is. No one ran him out of this party or even threatened to expel him, that was and will always be a made-up convenient argument /excuse so he could camouflage his cowardice.
At 70 years old this once great Prime Minister of Barbados and well respected regional leader now finds himself lurking aimlessly on the periphery of relevance to played with and toyed with by the ultimate wild boy Sinckler.
@ Bajan in NY
Boss, you laughing at Bushie or wuh??!!
What script writer what!?!?
…when you got mens like Miller, Jeff and PUDRYR bout here licking cork?
Bushie’s speciality is in whacking….
whacking left, whacking right, Bushie whacking every sh… uhhh …evathing in sight… 🙂
@ Prodigal
when (t)he time comes to vote on it, he will meekly comply.
+++++++++++++++++++++++++++++++++++++++++++++++
Estwick is a cross between a poodle and a shiitehound (a poo-shiite?), but it seems that Froon has him well trained; on a short leash; and mostly muzzled….
You will therefore only get the occasional whimper… 🙂
@ Pacha
Neither George nor Mia have the slightest clue what true leadership is about. Mia thinks it is some kind of entitlement to be enjoyed – passed down from her parents, and George thinks it is all about some shiite paper he was required to prepare on the way to his PhD.
Boss, true leaders do NOT need to be elected to any shiite…. if you lock them in prison, people find them there and follow their donkeys…
If you take away ever shiite that they have, …somehow, they still seem be rich as shiite… and people STILL look to them for guidance.
If you beat them – they still come out like the winners….
A true leader is that person in ANY setting, whose is looked to for wisdom and success….
If we were wise, we would seek out such persons for the roles…… rather than gambling with JAs who are legends in their own minds….
Leadership DOES NOT WALK BOUT just so yuh….. and it hardly ever begs brass bowls for votes…
Check out that Grant fellow from the Pine then…..
Prodigal
Stop taking sides and support your party.Arthur is head and shoulders over the political class in Barbados.Estwick talking crap because Arthur was his tutor when he didn’t have a clue about economics.
Did not Errol call Stuart a coward.You see how right Errol was in that determination.Stuart will try everything else other than admit Arthur is the one man the market will respond to in a positive light.If he is unwilling to accept Sinckler’s ‘esteemed’ advice,he would likely be forced to call an election because the IMF will insist on it.
Bush Tea
The cross between a poodle and a shiitehound is a pothound…..
Hope you people are watching Sinckler passing the buck about why the Central Bank has to print money.
@ Prodigal
Boss, you done know that Bushie got you rated highly when you deal rationally with non-party material…… but you pushing the branches a bit high with this Owen/Mia thing hear skip…?
Watch the whacker yuh…
You will have to cuss Owen for bout 5 more years -every day straight- to catch up with how much Bushie has ALREADY cussed him. But don’t cuss him for cussing Mia, cause her ass want cussing, Big Man….!! and Owen is the only fella (besides Bushie and Caswell – once upon a time) that got the balls to stand up and cuss she tail….
Mia spent DECADES doing shiite while operating at high levels in government.
She appointed a lotta shiite women of dubious background to run important departments.
She enhanced personal business arrangement with Tom,Dick y Harry
She was in charge of the damn prison when it burnt down …. and um ONLY burnt AFTER the police, army, coast guard, prison guards, Government security Guards and the night watchman had overtaken the damn place…..
She was then responsible for the VECO prison scam…
She was responsible for Edutech …..or rather for NO damn Edutech… after millions spent.
Cuh Shiite man…
If she could not mark fat when we had money to burn… (literally)
Pray tell what the hell she can do …now that we are as poor as church mice….?
Steupsss…
Arthur knows that she do shiite – but as PM the buck stopped at his door – so what can he say now?
Everyone knows that the political HC/QC cartel expected the CP man to crash and burn in the early days …and resented his domineering ways when he didn’t…
If wunna know that wunna wanted to retain power, wunna should have forced Ford to take the damn job….
The VERY LEAST that the BLP should do is come with a FRESH FACE for PM …not the same shiite people we kicked in the donkey a few short years ago… and with Wuk-fuh-Wuk and Muscle Mary too….? BIG Steupsssss!!!!
Too many damn self-focused people.
@ Bizarre Burnham
So what?
Bushie tends to run away from shiite too…. especially after whacking um…
LOL
ha ha ha
@ Gabriel
The cross between a poodle and a shiitehound is a pothound
++++++++++++++++++++++++++++++++++++++++++++++++++
That depends on how the puppy comes out…
Suppose the puppy is a combination of the two rear ends… ? ..all ass and no head?
The hypocrisy is too thick up in here.
@David March 4, 2017 at 3:27 PM #
I had to give up watching and listening 1/3 into the video. The minister of finance will continue the printing of money without apology until the country is rated DDD, not matter who tell him to stop. The country’s economic will be broken like humpty dumpty if he is allowed to continue as minister of finance for another year.
The problem is, everyone he is addressing today is a facsimile of AC or Alvin Cummins, so he will get down from the podium feeling he is on the right path.
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