Governor of the Central Bank Delivers 1st Quarter Review of the Economy

The first quarter review of the local economy by Governor Haynes paints a bleak picture. After almost 10 years of belt tightening Barbadians have not been given any indication by the top central banker that there is light at the end of the tunnel.  The negative report of the economy could not have been delivered at a worse time with a general election 22 days away.

The Governor’s review comes a few days after reports that the south coast sewage mess has reared its messy head once again. #sewagerush@accra.

CBB Quarterly Economic Review – Jan-March 2018.pdf (text)

127 comments

  • Caswell Franklyn

    Freundel’s plan is finally coming together. He said that heads would roll if he found out that there was a plot to remove him. This news, along with all the other disasters plaguing this country, seems sure to cause a few heads to roll.

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  • Freundel’s plan…???
    Is that an oxymoron Caswell?

    Freundel is clearly a blubbering idiot – who has no idea what its happening around him….and the equally incompetent ‘Eager 11’ did not have the basic talent or balls to dump the joker as was needed at the time.

    That we have entertained such a moron for so long …and at such NATIONAL cost, only confirms everything that Bushie has been saying for years now… about Bajans.

    Bushie called for you to BUP…and to lead NEEDED change some time ago …and you did nothing…
    Similarly, every SENSIBLE Bajan that the bushman interacts with …DECLINES to contribute to national leadership..

    Only mendicant brass bowls seem to have the appetite to take on leadership in this God-forsaken-place.

    A people ALWAYS get exactly what they deserve Caswell…

    No surprise that…
    shiite flows in the street,
    the coffers are empty,
    the family silver is gone
    We have become international laughing stock
    …and that the Lashley’s are given GCM and QC respectively…

    Liked by 1 person

  • I am sure that the Stinkliar was hoping that the election would have been called before this report had to be made public…….it could not be held back any more………it would have been too obvious……..or the Governor must have felt ….look I better do my job otherwise I may be compromised with a new administration.

    Stinkliar chickens have finally come home to roost. This report confirms that Stinkliar did not know what he was doing and has arrogantly screwed up our economy which would take a decade to rebuild………..
    .

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  • Look out for the IMF report next!

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  • NorthernObserver

    I have commented many times on the private sector role in helping the Sandiford administration. What nobody asked was, the impact of the island’s current credit rating on the CBB’s “negotiations”. Plus the BS&T is gone. 60-70 million is small compared to the support in 91, hence I would surmise “negotiations have hit a few road bumps”. What Haynes did NOT say (he cannot) is he has been told ‘wait until after elections and we’ll see’. The private sector is unlikely to work with the current crew, because they are proven to be financially inept. That doesn’t imply a new administration would be any better, only, it is doubtful they can be worse.
    The rumour mill says a large private sector organization is contemplating (decided?) a Sagicor type move.

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  • What is scary is that the DLP will not be defending its record on the economy because it is a poor one, the economy has stalled. Look forward to mudslinging.

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  • NorthernObserver

    You mean the Financial Economy record, because they will push their version of the Social Economy and that record all day long.

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  • DLP (formerly CBC) Radio & TV

    Well…. it don’t make sense repeating the same thing that many have said of this economy for the past 5 years. The problem with this DLP govt is that they REFUSE to do what is needed to correct the economy because it was not politically expedient TO DO SO!!!!!. They are FINE jeopardizing Barbados’ economy to save their ASSES!!. But yuh know the sorry IRONY of it all!!!!!! is that what they have done will all but ensure a humbling defeat in the upcoming general elections!!!!!
    I mean what the DLP has done can literally be put on a list titled “How not to run the economy”….the credit rating has sunk so low DEM cant get barely get loans on the international market, the loans DEM do get are with onerous terms..the loans do not go to projects to contribute to economic growth, in FACT the economy shrinks and now DEM struggling to pay these loans and keep the economy afloat. Now they are so desperate they want to depend on the private sector for foreign reserve support. It is a recipe for economic implosion!!!!!
    The DLP has asked the Bees what are its plans to correct the economy….If i was Mia the first thing i would say is to first get rid of this DLP govt.I AM SERIOUS. This Govt is the single most reason why Bdos is the way it is!!!. I have continually said this “govt” is the biggest disaster to hit this country since Hurricane Janet. I cannot understand how yuh can accumulate $$22bn dollars in tax revenue 5 years and the general infrastructure in Bdos had deteriorated!!!!. I cannot understand it !!! SOMETHING WRRROOONNNGGGG!!!!!….

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  • Well Well & Cut N' Paste At Your Service

    I think the outgoing government has finally run out of varuations of lies to tell the people a very strong indication that they know that no one on the island except irrelevant yardfowls will cast any votes for them, making it impossible for them to be reelected, so at this stage and out of immense shame, Fruendoliitle & usless Co are just winging it, still hoping for miracles.

    They have no election date or anything else to hold hostage over the citizen’s heads anymore, so kick their mendicant asses out with a flourish.

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  • Well Well & Cut N' Paste At Your Service

    Turning to the private sector because they have no shame, they should make sure the taxpayer’s money by the billion dollar contracts and hundreds of millions of pensioners money given freely to the few in the private sector who helped ex ministers rip off the citizens in exchange for millions in kickback bribes…that all that money is returned to the people, before they are thrown out..every dime.

    They should all go to prison for theft.

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  • Prodigal while you are waiting for the IMF report. The public has been waiting ten long years for Mia economic plans for the country.

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  • What is this Social Economy record to which you refer?

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  • Prodigal

    Tell Mariposa “the public has been waiting ten long years for Freundel’s economic plans for the country” as well.

    Surely…… after “10 long years” of economic policies that FAILED to ACHIEVE the desired objectives…… and the accompanying 23 consecutive credit rating downgrades as a result……

    ……….as well as the unflattering reviews of the economy by the Central Bank and IMF …….

    ……..clearly indicates that Freundel does not have any “economic plans for the country” either.

    If Stuart actually had a plan, first……he would have removed the abysmal failures Chris Sinckler and “Jester” Ince from the ministry of finance and replaced them with more competent individuals.

    (NOT Stephen Lashley…..…anyone that hopes to raise $20M by asking 250,000 people to contribute $20 each, should not be considered as minister of finance…..….or allowed anywhere near the finance ministry for that matter).

    Instead, Stuart continued with the same plan over and over again…….expecting different results……..is the definition of insanity.

    Prodigal, perhaps what Mariposa should tell us is how Freundel plans to DEFEND the “dynamic duo” Sinckler’s, Ince’s and the DLP’s RECORD of “effing up” the economy after “ten long years”……..

    ……….and convince the electorate why the DLP deserves another 5 years to “eff we up” further.

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  • I heard Stuart saying buses are operating; garbage is being collected; the Welfare Department is honouring its commitments; there is the provision of health services……….

    ……….perhaps this is their “social record.”

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  • Based on what is posted by the political parties the BLP will launch the campaign this coming Saturday and manifesto soon after. The DLP will do the same on March 6, at the dilapidated National Stadium. Very soon we will hear what the two parties are promising, emphasis on promising.

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  • DLP (formerly CBC) Radio & TV

    @Maripussy, Frac-turd DLP and the rest of the DLP yardfowls and potstarvers….when yuh all as the ruling party want to know so BADLY of the oppositions’ plan to run the economy do you know it can be interpreted as an implied ADMISSION that yuh all have FAILED!!!!!. If i was Mia i would strike a deal….Admit that yuh all haved FAILED and are TOTALLY INCOMPETENT to the electorate and i would immediately release my plans…if not… SHUT TO HELL UP and wait!!!!!

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  • Barbados continues it distinguished history of being run by cowards.

    Certainly, FJS is first amongst equals, as measured by the level of cowardice.

    It is a critical ingredient in the make-up of a good deputy, somebody unlikely to engage in palace coups.

    These are the kinds of deputies, without exception, the culture has constantly thrown up.

    Only political cowardice could prevent a so-called prime minister from aggressively seeking public approval for dramatically changed and constantly evolving policies, as they are/were.

    Or from explaining to the public the fundamental shifting economic environment. Up to now there has not been an explanation as to why the economy is in the state it is in. Why it represents such a departure from the regular state of affairs, the relative state we were used to. Routine mismanagement alone cannot explain what’s happening today.

    But that the coward-in-chief found no refuse but to run down the clock in this manner and is still then forced to call an election without a semblance of economic support from his CB tells us about the fecklessness of a deputy in Barbadian politics.

    Indeed, one may argue that the longer the coward has waited the worse the economy has gotten.

    Look out! Another deputy is heading our way May 25.

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  • DLP (Cbc Tv )

    Your hooting and hollering not going to change the fact that Mottley has only provided long diatribe political spin and long winded criticism and midday marches as an alternative to the barbados economy .
    With the election mere weeks away a level of high expection should be the economic concerns of the country and its imperative that Mia comes out of hiding from behind the dark shadows who in the past ten years have influenced her political propaganda and stands solo and bold faced and tell the electorate her plans for a vibrant and thriving economy for barbados .
    After all she has not been hesitant to crticize now it is her turn to define good leadership by being open and truthful.

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  • Btw DLp (cbctv) the sounds of fear and desperation comes bellowing from your comments.
    Tell your leader if she wants to talk economy she must first bring her plans in hand for all to see.

    ###::transparecy

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  • DLP (formerly CBC) Radio & TV

    FAILED economic policies………. resulting in 23 consecutive credit rating downgrades……. is a clear indication that Freundel, Sinckler and “Jester” Ince do not deserve another 5 years to “foist” their incompetence upon Barbadians.

    After an abysmal record as PM of Barbados…..we have a shameless, arrogant Stuart who says he is confident of leading the DLP to a third election victory…….a man whose only legacy to date is imposing the 90 day period to call the elections.

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  • Add to his legacy the only action he took against his corrupt speaker was to advise him to get a lawyer

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  • However, let these dictatorial elections come.

    We have long forecasted that the ruling regime will retain no more than three (3) seats. Three blind mice!

    Indeed, the spectre of a constitutional crisis beckons. In a way not dissimilar to the current state of pseudo-legalism as imposed by FJS, to questionable ends.

    In the case of this extreme overreaction by voters, member of the BLP wing of the duopoly will then resign to oppose themselves. Just a matter of who will get to the GG first to so represent.

    Third party pressure groups will play no role whatsoever. It is difficult for us to see any set of circumstances where a single of these candidates could save a deposit!

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  • According to Marla Dukharan Barbados is third after Japan and Greece if we look at gross debt to gdp. Debt restructuring is the only answer to provide wiggle room to allow for growth.

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  • If this report is the work of the best and brightest at the CBB then our problems are more profound than we think.
    This report lacks credibility and appears highly intellectually dishonest.
    A quick perusal raised a major red flag:

    Why are the 2017 figures provisional at this time?
    Since they are provisional, can we be confident in any comparisons based thereon?

    Separately, it would be enlightening to know how the Q1 estimates are calculated but of course the CBB does not open their methodology to scrutiny.

    My suspicion is that the estimates and provisional figures are aggressive and the reality is likely (much) worse.

    A. Dullard

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  • Marla just stated the reserves are at 5+ weeks and not 6+ as announced by the Governor yesterday.

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  • I have been saying ad nauseam, my take on Barbados’s state of the economy and concomitant conditions,is the lack of confidence in this outgoing 🙏🙏🙏🙏 DLP administration.Barbados!Wake up from your slumber and kick these JA’s to the kerb.Bizzy has been making the point repeatedly….There will be no economic recovery under Fumble’s Fools.True as John 3:16

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  • DLP (formerly CBC) Radio & TV

    @ Mari.poser….Sigh…. desperation? fear??!!!! i wonder what made you come to this conclusion!!!!!….Most of the time i does just be laughing at wunna DEMs…When uh think wunna hit rock bottom, wunna does dig even deeper. The amount of contortions and somersaults wunna does go through to explain the abysmal failure called this govt wunna could be gymnasts!!!!! But i know wunna DEMS frothing at the mouth wanting to hear IMF from Mia’s and the BEES…wunna so desperate for some political milage????….but so little in touch yuh all are with the electorate… that most people already EXPECT we MAY already have to go through some sort of IMF program.anyway!!!…This is not to say that the BLP will adopt ths approach!!!!…but we are at the position that we have ran out of options!!!!!..Owen Arthur, PM and Finance Minister for nearly 15 years, has stated that the “austerity program” we are going through now, is worse than if we had to gone to the IMF anyway!!!!…but yuh know what wunna problem is!!! wunna so captivated about doing things that look good politically wunna couldn’t give a rats ASS about Bdos’ future. Anybody in the know knew that the 4 or 5 plans that Stinkliar presented …were half baked..they were not deep, comprehensive or wide ranging to do anything… every year yuh all FAILED to do anything of substance…the worse things get and the more drastic any REAL plan would have been.. the so-called economic plans were made to appear that the govt was doing something but really they would have achieved little. Bajans including former PM Erskine Sandiford cannot comprehend how after 25 years we get to the position we were in 1991!!!!! How $ 2bn in foreign reserves get eroded to less than $0.5 billion in less than 10 years!!!!!….We want answers from the DEMS!!!!

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  • Could always tell when the bees are desperate. The ammno is to seek outside carpet baggers to corrupt the political system of barbados like marla who seems to have a vital interest in the outcome of barbados election.
    Here is this Trini who for all intents and purpose should be overall concern with Trinidad social and economic problems social problems that has trinidad murder rate at an all time high but now have enough time to stick her big ugly nose in the politics of barbados a glaring outside force hell bent with an agenda to poision the minds of the public while corrupting the election process in itself.

    witch bee gone

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  • Can you state anything posited by her that is not factual? Is our gross debt to gdp 160% which positions Barbados as third in the world behind Japan and Greece? It is hard for you to be rational but try.

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  • The minister of finance has responded to the critics by saying the government has stop the foreign exchange slide since December 2017, in fact there has been an increase. The question is increase compared to what number?

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  • Hope when Mia comes out with her pie in the sky proposals for the economy. Hope she tells the public how she plans to finance all of them
    Only recently she mouthed that some pain would be attached while stating that ways by which govt collects revenue to fund social services would be removed

    #####all ears

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  • Here listening to a DEM saying that we should return to agriculture…I remember OWEN Arthur being laughed at by the DEMS for suggesting such during the 2008 elections campaign

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  • First of all there are foreign economist who keeps a close ear and keen eye on barbados economy. Some for investment purposes and others for critical and unbiasis analysis.
    Yet Marla seems to be the one most heard from .it is so obvious what her intentions are.

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  • Here comes the DEMs again only we know how to run a country…..I guess we see they mean how to run down an economy and a country

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  • His eminence could have expanded on the catastrophe conveyed in the observation that the reserves only increased by 14 million in Q1 when everyone knows this is when that outturn traditionally is at its best

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  • David BU

    Perhaps you may want to remind the resident DLP yard-fowl that Marla Dukharan was appointed as the Chief Economist of the Barbados based FinTech company……… Bitt Inc……..

    ………..and, similarly to the St. Lucian born Mara Thompson, she has a right to comment on this island’s economy.

    That stupid yard-fowls seems to be implying that “foreign economists” from agencies such as the IMF, Moody’s Investment Services, Standard & Poor, Caribbean Development Bank and World Bank that report on the Barbados economy……….

    …………are “outside carpet baggers” sought by the BLP “to corrupt the political system of Barbados” as well.

    In other words, the 23 consecutive credit rating downgrades are a result of the rating agencies being “in bed” with the BLP.

    Liked by 1 person

  • What Marla is saying is no different to what local economists like Delisle Worrell, Governor of the Central Bank, IMF et al. When will the government release the Article IV report?

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  • In any case who needs Marls input. She is not a citizen of barbados or a member of parliament or an employee of any financial instituion
    The affairs of barbados are strictly for barbadians to resolve and not a shameless carpetbbagger working as an agent for the blp.

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  • who is the DLP’s advisor on the economy since Sir Frank “retired”…………..Jepter?

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  • Just for Affa on VOB de know all DEM……..Unemployment in Jamaica at Record Low

    Caribbean360May 3, 2018

    .KINGSTON, Jamaica, Thursday May 3, 2018 – Prime Minister Andrew Holness says Jamaica’s unemployment rate declined to a record low 9.6 per cent as at the end of January.

    That is down from the 10.4 per cent out-turn for the last quarter of 2017, and dips below the 9.8 per cent recorded in the corresponding quarter back in 2007.

    Read more: http://www.caribbean360.com/business/unemployment-in-jamaica-at-record-low#ixzz5ESuqIvwe

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  • Marla Dukharan is “a shameless carpetbbagger working as an agent for the BLP,” because her assessment of the recent Central Bank report does not reflect a DLP perspective?

    Then……..CBG Haynes should also be viewed as “a shameless carpetbbagger working as an agent for the BLP” as well.

    I also recall in January 2016, when TRINIDADIAN and former CEO of Republic Bank Barbados, Ian De Sousa, said he saw “signs of the Barbados economy making a turn for the better”…….

    …….you were not of the view that “The affairs of Barbados are strictly for Barbadians to resolve and not a shameless carpetbagger working as an agent for the BLP,”

    …………because his comments supported your political agenda.

    Are you not tired being exposed as a shameless donkey?

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  • I wondered why Sanka Price gave pussy Glyne Murray full reign on Brasstacks for almost 30 minutes to talk a whole set of hogwash and drivel.As my mum would say…’he can really go and bag his head’. The fool.

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  • Gline embarrassed himself today. Clearly he is not a fan of Mia, this is his right of course.

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  • I notice while the licks sharing like peas the Quisling Darcy Boyce the economist hiding in the background.

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  • Of course he is a fan of OSA as is Hal the epiphanist now the campaign manager of his buddy FJ Stuart.No one will deny him his right to follow his conscience and help his long time friend and partner.What is becoming clearer now with Murray is that all of a sudden Staurt and his wild boys to quote OSA are now to be given a pass in spite of the mismanagement of the country Barbados over the last 10 years,Anything to get back at Mia even if he appears insipid,ridiculous and stupid and a pussy.If I know Mia well she would still offer him a position in her press corps as a former stalwart of the Great Party.

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  • Of course he is a fan of OSA as is Hal the epiphanist ???????????

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  • Do we know if Hal is his campaign manager this time around?

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  • DLP = Barrow = Nelson = plantation = slavery = taxpayer.

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  • So OSA called Stuart and his team “wild boys”. Gabriel Do you. also remember OSA calling MIA a “despot”.

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  • Please don’t allow this important topic to descend to nonsense or the blogmaster will exercise judgement. Of course there is latitude given for political banter but there is a limit.

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  • @Artaxerxes May 3, 2018 6:24 AM

    Prodigal

    Tell Mariposa “the public has been waiting ten long years for Freundel’s economic plans for the country” as well.
    ……………………………………………..

    Thanks Artax……..but you will notice that I do not respond to these dlp yardfowls.

    Had they listened to Mia’s suggestions in 2008/9, Barbados would not be in the position it is in today.

    Remember the bombastic outburst from Donville in the House…………”We aint want to hear nothing from wunnah……..wunnah had 14 years, now is we time, we gine do things we way, any ideas wunnah got keep to wunnah self”.

    And these yardfowls want to know Mia’s plans ………..hello……you dems so stupid!!!!!!

    We are still awaiting Fumble and the Stinkliar’s plan on how to get us out of this mess! Hard ears you wont hear, own way……you will feel! Sad that it is all Barbados who is feeling the pain.

    All unnecessary!

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  • Yuh see . it is open war season here on BU against present govt. But not so for the blp. Ok david now you know why you are called a yardfowl

    Prodigal the govt has presented plans for the economy every year. In parliament for the last ten years called a budget.
    While the opossition lead by Mia have been marching up and down broadstreet meking noise and throwing fits and temper tantrums like a spoiled child
    Her time to put has long past its expired date. Now the bell has been rung and she has said nothing

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  • @Gabriel May 3, 2018 2:55 PM

    “I wondered why Sanka Price gave pussy Glyne Murray full reign on Brasstacks for almost 30 minutes to talk a whole set of hogwash and drivel.As my mum would say…’he can really go and bag his head’. The fool”.
    …………………………….

    Gabriel………Glyne Murray had me so mad today….I had to move away from the radio. He was off sick for a long time and I just wished that he would stay away………he can come and spout all his innuendo against MAM on Brasstacks but David Ellis has deliberately locked out Peter from moderating.

    What surprised me most was when he told Sanka that he was never a member of the BLP…….what an ungrateful SOB. He rose to the heights that politics could offer,….becoming a High Commissioner to Canada and he was never a member….right only a yard fowl…………..but this is great…the Executive will not have to expel his sorry arse!

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  • Failed DLP policies have Barbados where it is today……….if they were any good, the economy would have been growing 2,3,4%………

    The DLP has blighted this country.

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  • This economy was to totally bottom out earlier last year according to some economist and a former P.M. The economy is stable. We are not in any tailspin……..yet. We will get through this

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  • Isnt this what we have been hearing for 9 years now Kevin? You are selling Bajan assets to shore up the foreign reserves, You are running continuous deficits to earn the position of third highest gross debt to gdp country in the world. You have poop leaking in the tourist belt. How do you think the average sensible (not yardfowls) Barbadians feel at the moment?

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  • Jonny B Good.

    Remember “Barbados is not only an economy”
    Economy gone thru the eddoes.
    What they got left now?
    A bankupt society.
    Vote for we cuz we aint want no same-sex marriage…we done eff up the economy , we gine give wunna the society (without an economy).
    Madness.

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  • DLP (formerly CBC) Radio & TV

    Sigh ….when it comes to the DEMS yardfowls and poststarvers it is like talking to the king and the weavers in the story “The Emperors New Clothes”….it is a waste of time. It is liken to a man that walks off the highest floor of a skyscraper and midway through the fall he is saying so far so good.

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  • Its not only the shoring up foreign reserves via bullet sales by stealth, domestic short falls from bad decision making by design or any of the host of “economic atrocities” meted out on the general public by way of taxation, high employment, culling the workforce, the creation of economic stagnation, destabilization of the middle class. wage freezes and conditioning debt traps and high cost of living, but by THE FAILURE TO DISCLOSE THE TRUE POSITION AND PERTINENT ECONOMIC DATA OF THE BARBADIAN ECONOMY FOR MANY YEARS that would by sound and transparent management measurement practices make the most prudent decisions in carrying the economy forward BOTH by the Government and the Public Sector and by extension, Foreign Investors.

    .https://www.youtube.com/watch?v=JvTb320y_OQ

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  • Prodigal I was asking myself the same thing.Where has Mr Murray resurfaced from all of a sudden just before an Election talking a roll and being given such a long run by Sanka Price?I had to switch the channel hearing the nonsense from him about the choosing of Weymouth for the launch and the music .Mr murray does not seem to realize that the Bees have strategists in the Party today,he seems stuck in the past,and what ever his agenda is inconjunction with the Dems PRO Mr Ellis,it ain,t going to work.Apparently Mr Wickham,s slot has been carefully replaced by this People,s Parliament ,which has been poor so far,but like he did to Nefetari Caddlewho used to attack the DLP like Mr Wickham ,Mr Ellis seems to have sideline the most popular Moderator in my view while retaining Corey Lane and Sanka Price,makes no sense.I notice that for so call balance most of these Dems are given long spellsof 20 minutes plus by Mr Ellis ,Mr price and Mr lane like Arthur,Straker,s Tenantry,the blind old ,guy and Blessed day to talk absulote rubbish almost every day.I heard another Dem telling Ms Holder that Mr Sydney Symmonds was biased towards the Bees ,along with Father Hatch and while that was so they were extremely professional not like the three Dems up thre now who openly criticize the BLP while praising the DLP.On tv every night Ms Suckoo,,Mr Williams,Mr Inniss,or Mr S Lashley,therefore Mr Olu Waldrond was correct in the statement he made in the paper about CBC.I want the Trini Dem who always talking about balance at VOb to respond to that.

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  • I am an unrepentant critic of CBC.The only programme I watch or listen to is the evening newscast.
    I have complained about the lack of balance in the politics of CBCTV however this evening was an exception I noted that gave exposure to Lynette Eastmond and her crew,even a piece on the misinformed inexperienced Maria Agard and Mia and her crew arriving in the board and shingle bus en masse to pay their deposits.Mia had reasonable air time as did Lynette.I hope this balance continues.I don’t mean to nit pick but while the leader was addressing the nation,comrade Thorne was talking to his neighbour and that looked a tad untidy and cavalier.A QC should know better.Impressions are important.You are not paying attention to your leader as you should.

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  • @Caswell Franklyn May 2, 2018 9:23 PM “Freundel’s plan is finally coming together.”

    My old man, who did not go to school past the age of 11 used to say, if you don’t ketch ya bucket full of rain, don’t expect to ketch it full of dew.

    Freundel and the DLP had ten years of good rain.

    Only 21 days of dew left.

    Lets see if the dew will fill the DLP buckets.

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  • It may be true what Lynette said of Maria but I for one was not surprised that she is not running.

    Why did she ever announce during the dying days of the last Parliament that she was leader of the UPP in the House………..just to get taxpayers’ money?

    I think she realised that she had burned all her bridges with the BLP but was still hoping to come back because she never took down her BLP sign.

    I for one always had the view that Maria Agard was never going to run……….she could not go back to the people who voted for her and explain why she was expelled from the party. She would not be able to take her defeat.

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  • Prodigal

    One of the resident DLP yard-fowl wrote:

    “Prodigal the govt has presented plans for the economy every year. In parliament for the last ten years called a budget.”

    This type of thinking is one of the reasons Barbados received 23 credit rating downgrades.

    Prodigal…….please tell that yard-fowl that “a budget” is not actually “a plan for the economy.”

    A budget is simply an estimate of anticipated revenues and expenditure for a defined period of time. It provides an explanation of the goods, services, projects and activities government plans to provide for citizens…….and the revenue expected to be earned and expenditure incurred as a result.

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  • Artaxerxes May 3, 2018 10:18 PM

    Your definition is on point.

    BUGGETS also DISCLOSE the issues and practices are current, intentions, omissions, admissions and faults, violations of Constitutional rights and Law, purports to trends related the operations of the holders of Governance which is EXPOSED during the debate by references to documents, situations, difficulties and experiences contrary to prudent management

    ESTIMATES can be ballooned, hide non disclosed intents etc., BUT in governance, failure to reach targets of expected revenue initiates the hidden measure of taxation to bring it to par, termed a deficit which adds to unwanted public burdens.

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  • NorthernObserver

    So WHO are the businesses targeted to lend, or provide access, to Fx funds? Simpson must be #1 target given his large foreign business mass; Bizzy is another likely co-operator. Sagicor and GEL played in 91. The foreign owned Banks have access to funds, willingness in another matter.

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  • Well Well & Cut N' Paste At Your Service

    “Yuh see . it is open war season here on BU against present govt.”

    Yardfowl must be dizzy, what government, there is no “present government”, yall are outside begging the same black people you disrespected, insulted and helped disenfranchise…for 10 years….. for a mandate to futher destroy the country.

    Try to at least see reality and tell the truth.

    Like

  • millertheanunnaki

    @ A. Dullard May 3, 2018 10:18 AM
    “If this report is the work of the best and brightest at the CBB then our problems are more profound than we think.
    This report lacks credibility and appears highly intellectually dishonest.
    A quick perusal raised a major red flag:
    Why are the 2017 figures provisional at this time?
    Since they are provisional, can we be confident in any comparisons based thereon?
    Separately, it would be enlightening to know how the Q1 estimates are calculated but of course the CBB does not open their methodology to scrutiny.
    My suspicion is that the estimates and provisional figures are aggressive and the reality is likely (much) worse.”

    What a paradoxical hat you wear for a nom de plume! Only a well-trained person of deep intellect and clear vision can see through such an ‘opaque’ glass made from a wall of politically-designed bullshittery.

    A person with so much perspicacity must hide behind a veil of anonymity to avoid personal attacks from the likes of Hal Austin.

    Are the amounts of foreign reserves represented by the time-marker years (1990 to 2017) the actual amounts at the end the end of each year or the 1st Qtr of each of those years?

    How could, one for the sake of statistical integrity, include two data points for 2017; that is for year end 2017 and a “provisional” data point for Qtr. 1 for the same year 2017?

    What madness is this? An ‘Actual’ figure for year-end 2017 and also a “provisional” figure for the First Quarter of the same 2017?

    The same graph shows that the foreign reserves are expressed in ‘Millions of Barbados Dollars’ (BDS M) whereas the Bajan Media are reporting the same foreign reserves in United States Dollars,

    So what’s the ‘real’ figure for the Bajan foreign reserves?
    It is an ‘Estimated ‘ Bds $ 423 million or a ‘Provisional’ US$ 423 million?

    Does this $423 million represent an increase of $14 million, in whichever currency,
    over the ‘Provisional’ figure for March 2017 or the ‘Actual’ figure for December 2017?

    Sir A. Dullard, you are so bright maybe you are in a more enlightened position to shed some light on the following extract from the same CBB report:

    “The improvement in reserves was smaller than that for the same period last year as the gains were eroded by higher debt service. Over the first three months of 2018, the international reserves held by the Central Bank increased by $14 million to end the quarter at $423 million.”

    Like

  • Miller! you good at farting all over the govt economic policies labelling all as failure
    Be just as good at calling on the blp to provide detail information for the barbados economy
    You blp morons think that talking reserves to bajans is going to make a difference at how bajans vote at the polls.
    The problem there is that bajans looking for relief in their pockets and care very little or if at all about falling reserves
    So all the shock and awe being bandied around and tossed into the air a cuzillion times over about reserves only appeals to the rich elitist and the white shadows working in favour of the blp who does no longer want to invest anymore of their finances in barbados social programs but would rather barbados go to the IMF for release
    Those people have a devoted link to the blp and is counting on Mia to do them that favour

    Like

  • “So all the shock and awe being bandied around and tossed into the air a cuzillion times over about reserves only appeals to the rich elitist and the white shadows working in favour of the blp who does no longer want to invest anymore of their finances in Barbados social programs but would rather Barbados go to the IMF for release……”
    +++++++++++++++++++++

    “Your emotions driven by political angst speak for themselves….”

    “Providing a slanted version hoisted on political rhetoric is called faked information……… your political slip has a nasty stain and in dire need of a bush bath.”

    “It never cease to amaze my mind with wonderment how the so called (a )political can be so adamant in their pronouncements quick and ready to hold fast to their political banter and just as quick and ready to be tribal bearers to those they serve…”

    “Furthermore your political slip is showing and it has a nasty stain……”

    Like

  • millertheanunnaki

    @ Mariposa May 4, 2018 9:08 AM
    “Miller! you good at farting all over the govt economic policies labelling all as failure”

    If that is how you see it, then the miller has been joined in his “farting” spree by the previous and current governors of your Mickey Mouse Central Bank.

    Didn’t Bulldog Estwick pissed all over the same “economic policies” of his own government?
    Weren’t these same policies even rejected by the South coast sewerage system?

    Given the fact that you swim always in a sea of xenophobia we will not mention the name Marla Dukharan who is also singing in the miller’s choir of IMF hymns.

    What about Dr. Robinson?

    Dr. IMF, there is a very sick patient called Barbados in your waiting room. Please attend as a matter of emergency!

    BTW, what’s your position now on ‘Privatization’? Are now for it or still against it?

    Now don’t be a hypocrite or else we would put Artax on your backside.

    Like

  • Miller

    During the economic review of the 2018 first quarter performance, Governor of the CBB Cleviston Haynes is reported as saying:

    “The IMF remains one of the options to us. As I have said, the advantage of an IMF type program is that you are able to capitalize resources for what you get from the IMF, and you are also able to capitalize resources from other institutions and ,hopefully, enable you to get faster access to capital.”

    Haynes noted with the 2018 General Elections right around the corner, whichever party takes up the reins need to develop, with haste, a plan to close the gap of the fiscal deficit as well as bring the foreign reserve situation “back to comfortable levels”. He reiterated the option rests with the successful party in the next General Election to NEGOTIATE a program with the IMF.

    The resident yard-goat seems to be suggesting that CBG Haynes is also “working in favour of the BLP” and “would rather Barbados go to the IMF for release.”

    “Her emotions driven by political angst speak for themselves….”

    It is clear from her contributions that this idiot does not read, analyze or understand economic issues. Her responses are based primarily on political rhetoric.

    And she labels anyone that present opposing views as “BLP operatives.”

    Like

  • Blp supporters can keep beating the Imf drum in theb same way they beat to deaththe privatization drum
    which barbadians have no stomach but deaf ears not to entertain
    So maybe the Blp is wise in hiding that agenda but can only do so for so long as the cries for the Blp to open their hands and show what they have plan would get louder as the election date gets closer

    bees be gone again

    Like

  • “Beating the privatization drum”………Hmmmmmmm????

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

    Barbados National Terminal Co. Ltd (BNTCL); Hilton Hotel; Blue Horizon Hotel; Sam Lord’s Castle Hotel;

    Services once provided by Beautify Barbados are now being provided by a company owned by Mark Maloney.

    Porters, Hayman’s Carrington, Bulkeley factories;

    The “systematic down-sizing” of the Transport Board and a corresponding distribution of over 250 PSV permits…………. especially on the Speightstown, Wansted/Redman’s Village; Silver Sands and 3D routes.-

    Private waste haulers collecting garbage;

    Like

  • Small pickings when it comes to the wholesale priivatization under the IMF program .dont forget the IMf had given advice to cut ten thousand workers

    Like

  • Caswell Franklyn

    Prodigal Son

    You asked:

    “Why did she ever announce during the dying days of the last Parliament that she was leader of the UPP in the House………..just to get taxpayers’ money?”

    Every party that is represented in the House of Assembly is entitled to $150,000 of taxpayers’ money per annum. The UPP would have been represented in the House and so would qualify for that money.

    If they have accepted that money, I would be convinced that they are in cahoots with the DLP to deny Mia the prize of the Prime Ministership.

    I can foresee a situation where those third parties could become spoilers by cutting enough of the vote to deny a victory to the BLP. You should note that most of the UPP candidates have a common bond – their dislike for Mia.

    Sent from my iPad

    >

    Like

  • So the taxpayers are actually paying these political parties to be deceptive parasites, even before they become the elected and deceptive, really.

    Like

  • Economic slavery is coming. The CBB numbers are a sham. The reserves will be depleted at the end of the year. Don´t they know that every forex loan in the past is N O positive foreign reserve, but just another debt??? Every USD the private sector hands over to CBB is lost to nourish the many lazy lagards in the civil service. There won´t be any repayment ever.

    Capital flight is a national duty.

    Like

  • Barbados is falling apart.

    BWA bankrupt.
    Supreme Court full of filth.
    Sewage on the streets.
    Foreign reserves depleted.
    Drug soldiers in Black Rock arming.
    Tourists leaving the island.

    Hello Zimbabwe, goodbye developed world!

    Like

  • Ghee whiz ‘ dont you blp miscreants ever get tired of singing the Gloom and doom chorus ten long years out in the wilderness with a repeated chorus of doom and gloom.
    Meanwhile the tourist kept comimg. Schools up and running along with many other social services
    But yet the leadership still not having a clue on resolving barbados problems

    Like

  • Mariposa – go address Leroy McClean’s claim that there was “manipulation of the process by a small group of people” in the selection for a candidate for St.John; and stop making your self a nuisance on BU.

    Like

  • Ghee whizGabriel dont be an angel of fake news shame on you
    In the meanwhile go read lodge in the court docket Payne vs Hinkson the mother of all trials ( coming to a neighbourhood. near You) where Mia is accused of voters fraud
    Now that is what you should worry about
    Afterall a PM character should be impeccable.. tailcoats free of hanging chads and suspicion.
    Dont you agree.

    Like

  • peterlawrencethompson

    No-one has yet mentioned that according to the Central Bank, the Barbados economy is almost certainly already in recession. A recession is generally identified by a fall in GDP in two successive quarters. There’s already been a fall in the GDP in the first quarter, and Haynes outlook for the year as a whole is fall in GDP. This means that it will be very surprising if the second quarter does not see further economic contraction.

    Like

  • @PLC

    Indeed. The present GDP is not higher than in 2008. And this is decisive, since the relative debt load is calculated in relation to GDP. No growth of GDP, no better rating, since Barbados is unable to reduce the debt load in ABSOLUTE numbers.

    Like

  • Please explain “wholesale privatization under the IMF program……. don’t forget the IMF had given advice to cut ten thousand workers,”………

    ………..but under an IMF program Sandiford was able to “dictate his own pace?” In other words, the IMF offers advice……… which government does not have to take.

    It is clear your arguments are based primarily on emotional DLP political rhetoric and propaganda…….and not based on an understanding of economical issues.

    Like

  • ‘and not based on an understanding of economical issues.’

    I like that, even the damn law of gravity has been suspended in that island with shit flowing uphill and some of you still want to talk mumbo jumbo

    Like

  • “I like that, even the damn law of gravity has been suspended in that island with shit flowing uphill and some of you still want to talk mumbo jumbo..”

    You above comment and some of the other shiite you have posted in this forum recently…… clearly defines “mumbo jumbo.”

    Like

  • Sorry kiddo, I’ll find ya some scartch grain

    Like

  • Don’t worry… scratch grain

    Like

  • Hmmmmmm…….Interesting……

    So……you’ll offer to find “scratch grain” for any individual you perceive as supporting the agenda of any political party…….other than Solutions Barbados…..

    In other words, as long as you don’t “sing in Grenville’s choir”……..you need “scratch grain,” hence, there is no such term as a “Solutions Barbados yard-fowl.”

    Now that’s “mumbo jumbo” thinking.

    Like

  • I’ll let you be. You tend to run when the heat gets turn on. Will let you be.

    Like

  • millertheanunnaki

    @ Peterlawrencethompson May 4, 2018 11:07 PM
    “No-one has yet mentioned that according to the Central Bank, the Barbados economy is almost certainly already in recession.”

    To describe the Barbados economy as being in a “recession” is a massive understatement of reality of euphemistic proportion.

    Barbados is not in any recession but in an Economic Depression. The present administration has taxed the economy into a quagmire of steady state depression.

    The MoF- through his politically misguided and technically misinformed policies- has effectively suffocated economic activity from which most of the government’s revenues are derived.

    The country no longer produces commodities for export and its services are woefully uncompetitive in any international market.

    The buying and selling transaction-based tax regime is no longer sustainable unless new sources of foreign exchange are urgently exploited to maintain the lavish or conspicuous consumption import-based living habits of the general populace.

    Like

  • @ PLT
    A recession is generally identified by a fall in GDP in two successive quarters.
    +++++++++++++++
    How is ‘recession’ distinguished from ‘free-fall’….?

    Like

  • @Miller

    “The country no longer produces commodities for export and its services are woefully uncompetitive in any international market.”

    Indeed. Barbadian agricultural products are the most expensive in the Caribbean and cannot compete anymore with products from Guyana, Jamaica, USA or EU.

    Example: 1 l chocolate milk from EU in CARICOM member state XY is 1 USD, 1 l chocolate milk from Barbados in Barbados is 3.50 USD.

    To be continued …

    Any questions?

    Like

  • I also got word that Barbados will get a new hospital, called Frundel Memorial Clinic, that the Chinese will donate 10 bill. USD and that the civil service will shrink to normal size.

    And earth is flat like Barbadian GDP.

    Like

  • The CBoB is an anachronism.

    It is unclear to us why it is allowed to continue this pretense of relevance.

    We would venture, that a simple cost/benefit analysis would also present us with a deficit. Another deficit!

    For certainty, Barbados cannot do any worse without an ‘institution’ run by kakistocrats and for its own sake.

    That titularly intelligent people would continue to predicate their thinking on the dated misinformation emanating from this edifice in Bridgetown beggars belief.

    We fail to see any circumstance, within the past 10 years or more, where this ‘shop’ has been able to prevent a single national economic disaster.

    We need courage more than useless information. We need to see the future, as if god, not buried, interminably, in fanciful analyses of the past.

    Like

  • The Central Bank advises the political directorate on policy Pacha. If the politicians do not heed the advice there is only one course of action available to the CBoB staffers, resign.

    On another note, on the eve of the Governor’s economic review of the economy why would VoB interview Dr. Justin Robinson on what the public should have expected given his seat on the Board?

    Like

  • David

    Well, if that is the case we would suggest that dysfunction is even more organic than we had estimated.

    The incongruence of which you speak can only strengthen out original point. For sure, the political masters, from both sides, have a shared history of ignoring advice.

    However, we have no way to judge whether that advice would have made any differences.

    Otherwise, we fail to recognize any real or imagined differences between these sets of elites.

    On the one hand, the political elites make claim to the power of the people. On the other, the central bankers like to pretend that advice tendered is devoid of political considerations.

    Merely theoretical in both cases, we feel.

    Like

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