The latest review of the Barbados economy revealed that the Barbados economy grew by approximately 2% in the first quarter of 2017. Foreign reserves rose to $705.4 million but remain below the benchmark of 12 weeks. Overall, the Barbados economy has recorded gains in addressing some of its economic issues, but challenges remain (CBoB). After…
The latest review of the Barbados economy revealed that the Barbados economy grew by approximately 2% in the first quarter of 2017. Foreign reserves rose to $705.4 million but remain below the benchmark of 12 weeks. Overall, the Barbados economy has recorded gains in addressing some of its economic issues, but challenges remain (CBoB).
After publishing the review, Acting Governor, Cleviston Haynes spoke with the media about Barbados’ economic performance in the first quarter of 2017 (CBoB).
No good news will result in robust
discussion because the party hacks
of the BLPDLP only care about their
Party. If the Central Bank had reported
that the economy had declined to 0 percent
growth then the party hacks will be out
in full force. Barbados means nothing to
the BLPDLP sycophants . That is why
Independent thinkers must continue
to hammer them into political oblivion.
VTO(Vote Them Out) Try SB CUP
Independents .
If our World Heritage status and our history are to be taken seriously there needs to be import duty, tax and VAT-free inputs allowed for historic building restorations approved by Town Planning and the National Trust.
The whole of Bay Street and Bridgetown could be re-purposed in a historically relevant way that would attract the more sophisticated tourists that travel to BDS instead of other sun, sea, sand destinations that don’t have the architectural legacy that we do.
Our bureaucratic morons in gov’t and civil service have no idea how to turn ideas into reality.
There will be no economic recovery under Fumble’s Fools.
@William
Have you read the central bank report? Do you understand why the economy grew according to said report?
Do you understand that the growth was not because of any structural intervention? Do you understthat the socalled low unemployment number must be given context?
@ David
I am not saying anything other than
than the report as bad as it is , was
not as bad as we probably thought it
would or could have been. Unlike
you and many others I have long
decided that the plantation economy
cannot function any differently. We
went through similar crisis before and
chose to apply the same or similar
remedies .The BLPDLP are bankrupt of
ideas as to how to move the economy
forward. You can analyze as is your
right but you need to identify any
policy put forward by the BLPDLP that
can move the country forward. I will
be happy to see it.
Tourism goals ‘on target’
VISITORS SPENT US$984 342 million in Barbados last year, up by US$83 million from 2015 –
http://www.nationnews.com/nationnews/news/96722/tourism-goals-target#sthash.2j6kJJTo.dpuf
visitors spent 984342 million last year ???? they calculating the old british way
Absolutely nothing substantially new in the presentation of the acting Governor of the Central Bank,other than what Ellis on Brasstacks brought to the fore this morning re the increase on the banks holdings.
Why have we not heard any comment on this area as to how it will affect or not affect us going forward.
The future for the Economy lies with the IMF as Prof. Howard indicated on pg 5 of yesterdays Nation.
What else is there for us to say other than to wait for the budget speech when we will see what we will see.
When Owen Arthur refused to be taken in by Petro-Caribe,he was taken to task by the DLP and DC. The chickens have come home to roost with the passing of Hugo Chavez and the rise of his deputy and out-of-his-league Nicolas Maduro,the desperation to survive in the once very wealthy country Venezuela has driven its citizens to resort to daily street protests and acts of violence. I recall the many privately owned planes seen at Maiquetia aerodrome in the 60’s/70’s and I recall the many Venezuelans schooled here at the Lodge, Codrington and St Winifred’s.I recall the many Venezuelans who lived in Barbados,married locals and invested in homes, estates and hotels here.Barbados benefitted handsomely by courting Venezuelan tourists.All the stores in Bridgetown carried the sign “Habla Espanol”.What obtains now is a far cry from the Venezuela of that bygone era.
David Jessop has put it in perspective as he sees it.
http://www.antillean.org/caribbean-divided-venezuela-response-oas-petrocaribe-194945/
@Vincent
The increase in the bank reserve position means nothing if the central bank continues to print money as discussed with Bernard.
The continued printing of money by the Central Bank serves to DEVALUE the currency currently in existence. Bank reserves may be ‘increasing’ numerically, but it may well be decreasing significantly in real VALUE.
The biggest threat of printing money is to those rich folks who have amassed fortunes in the banks…
It is like you spent your whole life doing everything possible to accumulate a warehouse of gold …only to find some shiitehound – name Stinkliar, comes along with the Midas touch … making you into a pauper ….and causing everyone to starve….
@ Bush Tea @ 1:41 PM
Are you sure you are not an economist masquerading as a grass whacker? The threat is to all depositors the rich and the poor. More so the poor. The rich hold real assets such as real estate and accounts in offshore banks.
I love this submission. I cannot stop chuckling.
@ Bernard
Cuhdear man!!!
Bushie has been called all kinds of dastardly things on BU
…and they have all bounced off the protective visor with ease…
BUT now you have attacked the bushman’s achilles heel with a wicked vengeance…
Tek it back PLEASE..
Cuss muh…!!!
But…
Don’t call the Bushman an ‘economist’ (whatever the hell THAT is)…ANYTHING else!!
uh beg yuh!!!
The threat is to everyone, but poor Bajans have LOANS from the banks and CU’s … not huge deposits. When the shit hits the fan …and the jobby is redistributed, those loans will suddenly become less onerous 🙂 ….
Besides – what can you do to a ‘poor’ man? tek way his debt?
ha ha ha
Whereas the boys with the multi-decimal deposits will discover what poverty feels like…
(Real estate is a liability when held by brass bowls – check our government, ….and foreign deposits are but an illusion….)
One government now demonstrably less competent, and clearly more idiotic than ours …. is Trumps’…
Do you put any store in US$$ deposits right now…?
Rich people dont keep their money in barbados dollars, they pay their workers in barbados dollars
LOL @ lawson
Boss, REALLY rich people do not count their dollars in ANY kinda dollars….
When the jobby meets with the fan you could have yen, marks, pesos or euros…. yuh donkey will be eating grass…
LOL
ha ha ha
“Do you put any store in US$$ deposits right now…?” Always. Trump cannot destroy the currency, they will destroy him long before the dollar. And on a comparative basis, it remains stronger than any other world currency (even as you noted the pumping of greenbacks into the economy by the last administration, hasn’t dampened its relative value).
Real Estate is an OK hedge…why?….cause the good Lord ain’t mekking de rock nah bigger. Maybe smaller effin de water levels rise? Unlike currency, where by printing one can increase supply, thereby causing its tradeable value to fall, they cannot yet print land. Not that real estate value cannot fall with economic decline, but its fixed supply means in the longer term is always has value.
The risk is holding local currency, or things denominated in local currency which cannot move. Your GEL shares are safe, because they operate beyond Bim’s shores, so the day the kitchen gets too hot, your main man can ditch the BSE for a foreign one.
And here I was for years thinking that BBE= Barbados Best Economist !!!!
The US dollar does not need Trump for its destruction.
All that is needed for that, is the international decision to trade oil in another currency or basket of currencies.
In the past, the US president either started a war, killed a head-of-state, or applied overt military pressure to ‘win friends and influence people’.
Trump will be so emasculated by the time this happens (as scheduled in a few months), that it will be like a normal sunrise…
If real estate is a good hedge, then the Barbados Government is on solid ‘Clico’ ground….
You obviously are not familiar with the realities on the ground here…
Moody’s downgrades credit ratings for Canada’s Big 6 banks ( 3 of which have banks in Barbados).
http://www.cbc.ca/news/business/canadian-banks-moody-s-downgrade-1.4110115
It is a dream….most of the oil owning oligarchs have their money in $US, why seek to decrease its value?
Hedge does not mean…a portfolio consisting largely of…however you are correct, I am not familiar with all the various real estate holdings in the Clico bag over which the GoB may have “ownership”.
I owe you $500,000Bds. If I offered you a Bajan home which I paid $700,000 for in 2001 and is likely worth $550,000 today, $500,000 in Bajan cash or US$250,000…which you taking first?
@Hants
that was yesterday. Long overdue. What the article didn’t mention is the problems with the so called “alternative lenders” [City Home etc] has forced the ratings agencies to be aware of what is happening in the overheated Van & Tor markets. And while the main banks have a far less risky portfolio (how the alternative lenders got business to begin with), the big 6 could get slammed if there is a fallout. Yet today, they are so diversified, they stand to be hawks in waiting, should the smaller players get squeezed.
The longer term risk is “fin tech” in general, and if the USA included ‘financial markets’ in NAFTA negotiations.
@ lawson May 12, 2017 at 12:18 PM
“..visitors spent 984342 million last year ???? they calculating the old british way..”
Lawson, you cheeky ‘albino’ monkey of the proboscis variety! Why don’t you keep your nose out of the Bajan business called Pure Bull-shit for Consumption by Dummies?
Only a white-bill ‘coot’ with the sharpest eyes in the mud of misinformation would spot this massive windfall in Barbados’s foreign reserves.
Imagine visitors spending the forex equivalent of Bds $984,342,000,000 in the Bajan economy and yet less than $700,000.00 ended up in the foreign reserves kitty!
Now where did that just less than $1,000,000,000.00 (or is it the long form $1,000,000,000,000.00) go to?
Hope it didn’t end up like the $300 million in Deliar’s rabbit hole because that kind of foreign dosh would have been the philosopher’s stone of all elixirs to all of Bim’s economic problems not only to payoff its overdue list of foreign creditors but to provide all the supplies needed to keep that printing press at full throttle for a ‘thousand million’ or even a ‘million-million’ more days.
With that kind of money circulating in the economy the dizzying heights from the multiplier effect both Stinkliar and Fumble would have been able to tell the toothless pit bull- rechristened Poodle Eastwick- to ‘ka he mudda time longer than twine scunt’ to the UAE for her special day instead of Sunbury Great House.
It seems as if the Bajan political bull-shitters have a real serious problem not only with the decimal system but also with zero(e)s whether ‘to’ the old British power of ‘nought’ or to the born again American ‘naught’.
But one thing is certain; nothing from nothing must leave ‘Nil’.
All those mighty thousand of millions of earnings from the tourist dollar but ‘yet’ the Bajan Mickey mouse dollar is still worth what Paddy shot at while aiming at the Devaluation target.
Miller the olde brit thinking was a million million was a billion so it okay in that context I guess,….. they arent making more land they are making less land if the water levels are rising like they say…, best buy in st thomas. Now why would you build a hotel at sea level and invest all that money seems odd,
dont invest in land invest in a boat you will never go hungry, and you can always get out of dodge.
Don’t mind Miller…
…who just don’t understand new DLP maths..
The same way that $10 from each Bajan will raise $20M, don’t you see how this figure will be generated if each tourist pays for a taxi to the Cave?
What is a few decimal places …or zeros, between brass bowls?
Whaloss !!
lawson…u live in Gatineau? Or did parts of Ottawa flood too? Some idiot will sue the GoCda for allowing people to build on a flood plain?
you are making my point barbados is a flood plain but who they gonna sue, that will pay lol in canada our way is we owe everyone who is stupid thats why everyone wants to come here
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