Prime Minister Mia Mottley Releases IMF Staff Report Promised

The report has no surprises, it confirms that the Barbados economy is in a poor condition and deserved to have received greater airplay on the just concluded political campaign trail . – David, blogmaster

Earlier this afternoon,  Prime Minister Mia Amor Mottley met with her economic team, the Governor of the Central Bank and senior officials of the Ministry of Finance and Economic Affairs to receive a briefing on the economic challenges facing the Barbados economy.

Following the meeting, the Prime Minister authorised the release of the Barbados Staff Report for the 2017 Article IV consultation prepared by the International Monetary Fund.  Click here to download the report.

151 comments

  • Worth a listen.

    “Prime Minister Mia Amor Mottley will hold her first media briefing at 2 p.m. today. The Barbados Labour Party which she leads swept to an unprecedented 30-0 victory in Thursday’s General Elections. It is widely expected that Mottley will officially announce her Cabinet during the briefing at Government Headquarters.”

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  • Agree we have to wait on the signals from the new government, it is early days but given the perilous state of our affairs there is no time to play the donkey.

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  • Wait on what signals were not these signals all laid out in the blp manifesto
    The only wait is seeing how they all can be achieved out of a ballooning debt and another plan which would include furthering borrowing to cool down the temperature of more spending in order to accomodate social programs.

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  • Do you have a brain? A manifesto is a bunch of promises designed to woo an ignorant electorate. The real business begins as far as managing the economy. You may have the last word.

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  • @ TheoG
    I am looking for an analysis that tells me why the DLP went wrong….
    ++++++++++++++++++++++++++++++++++++++++++++++++++
    Check on the Garrison…

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  • lol..

    Music to calm the nerves while enjoying the skills of our new generation.

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  • Hopefully the media gets it in their heads to carry Mia’s press conference live, no one should have to tell them is a very important and defining moment.

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  • Sounds to me like something a mother might say to comfort her son or daughter!

    It would have also been considered rude and sometimes backed up with a smack to demand an answer for that type of a question. LOL but as a nation PAYING TAXES is entitled to know.. 

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  • Apparently they are running late, but here is the feed.

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  • David

    What are you getting so excited about 1:51

    If the manifestos mean nothing, and the real business starts now, why did we waste the last 3 weeks following campaigns?

    Certainly, it cannot be that crass, can it?

    In any event, your irrational excitement is destined to come to naught.

    Politicians have not the ability to elicit these kinds of responses from us.

    We are telling you here and now that once this emotionalism of a honeymoon period passes, three months, we are back to the position ante.

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  • They screwed up.

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  • David are. you calling. the huge blp electorate ignorant. Yout words not mine in response to my comment at 1.49 pm
    Arent you even slightly ashamed of your outburst which includes your own self interest after endorsing Mia plans

    Btw the planned pm press conference schedule for 2pm had not started as of 2.40pm

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  • press conference rescheduled for 3:30

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  • Liverpool is in red. Will watch them and think it is the BLP

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  • David is being hypocritical even after reading previous IMF reports and the recent one in whuch it is clearly pointed out that barbados economy needs a holistic and conservative policies in order to heal and not no more of what Mottley has planned for the nation which would include an expansion of debt driven by a political policy to increase wages.

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  • Today is the 26th. Looks like Mariposa plans to work till the end of the month. The check may be late…

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  • MIA’s first and only option is IMMEDIATE FORENSIC AUDIT OF ENTIRE GOVERNMENT AND ALL SOE’s including all debts, loans, repayment schedules etc. by a competent and non Barbarian entity to accurately determine the exact and detailed state of the countries finances.
    Only then can MIA make any creditable plans for the future.

    Liked by 1 person

  • @Pacha

    And you gleaned the blogmaster is excited how?

    If you read a blog titled ‘Thursday’s Vote’ the blogmaster was clear. If you compare several indicators 2008 to 2018 all of them point to decline. The decision to vote the DLP out was an easy decision. We now have to do it all over again with this lot and hope we see improvement.

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  • Also David by you stating a manifesto is to “woo” the electorate are you not in essence saying that Mia placed a lying and deceitful manifesto in the hands of the electorate to gain votes . Then you get here day after day preaching integrity but have no qualms in endorsing lies and deceit

    Yes these are indeed interesting times

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  • “Police have confirmed that the man who fell from a truck on May 21 has passed away.”

    Very sad. Condolences to his family and friends.

    http://www.nationnews.com/nationnews/news/161191/fell-truck-passes-away

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  • The Sound of Silence

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  • Well Well & Cut N' Paste At Your Service

    Mia is showing class amending the Constitution to include 2 senators in DLP seeing as they have no leader, she reached out.

    Liked by 1 person

  • I really thought that with the redwash the electorate inflicted on the DLP that the yardfowls would have been so defeated, humiliated and would be so ashamed that they would go and hide under the big rocks pelted at them for years and we on BU who want to read useful submissions would be at peace to do so.

    Low and behold, the morons are busy on BU the day after the mauling they endured. After all the talk about LEC, bombshells and all the nasty low talk………they still have not learnt their lessons.

    As the voice note on Whatsapp is saying we needed to get rid of the government to reclaim our country. It was the collective rage against an arrogant government. The people punished them for the misgovernment…..a collective rage against a government in a most vicious way.

    Mia will repair the Barbadian brand!

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  • @ Prodigal Son,

    You could the scroll button .You are not compelled to read every post.

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  • http://www.nationnews.com/nationnews/news/161222/pm-names-cabinet

    PM names new Cabinet
    NATASHA BECKLES, natashabeckles@nationnews.com

    Added 26 May 2018

    Here are some of the key appointments:

    Prime Minister Minister of Finance, Economic Affairs and Investment – Mia Mottley

    Attorney General and Minister of Legal Affairs – Dale Marshall

    Minister of Education, Technological and Vocational Training and Leader of Government Business – Santia Bradshaw

    Minister of Housing, Lands and Rural Development – George Payne

    Minister of Foreign Affairs and Foreign Trade and Leader of Government Business in the Senate – Senator Dr Jerome Walcott

    Minister of International Business and Industry – Ronald Toppin

    Minister of Environment and National Beautification – Trevor Prescod

    Minister of People Empowerment and Elder Affairs – Cynthia Forde

    Minister of Tourism and International Transport – Kerrie Symmonds

    Minister of Transport Works and Maintenance – Dr William Duguid

    Minister of Health and Wellness – Jeffrey Bostic

    Minister of Home Affairs – Edmund Hinkson

    Minister of Small Business, Entrepreneurship and Commerce – Dwight Sutherland

    Minister of Energy and Water Resources – Wilfred Abrahams

    Minister in the Ministry of Finance – Ryan Straughn

    Minister in the Ministry of Economic Affairs and Investment – Marsha Caddle

    Minister in the Ministry of Foreign Trade – Sandra Husbands

    Minister of Labour and Social Partnership Relations – Colin Jordan

    Minister in the Ministry of Housing, Lands and Rural Development – Charles Griffith

    Minister of Youth and Community Empowerment – Adrian Forde

    Minister of Maritime Affairs and the Blue Economy – Kirk Humphrey

    Minister of Agriculture and Food Security – Indar Weir

    Minister in the Ministry of Transport Works and Maintenance – Peter Phillips

    Minister of the Creative Economy, Culture and Sports – John King

    Minister of Innovation, Science and Smart Technology – Senator Kay McConney

    Minister of Information, Broadcasting and Public Affairs- Senator Lucille Moe

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  • Well Well

    Fair what!

    This is how the duopoly works

    Appearances, that’s all.

    Still doesn’t solve the fundamental problem in the House.

    The people are fickle – bread and circuses, said the Romans.

    The constitutional crisis remains, until it attracts numbers from the government side..

    Same way that David Thompson gave Liz Thompson a job at the UN, 2008. Protection of duopoly, that all. And the duopoly is the bedrock problem.

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  • I know Hants but sometimes you cannot help seeing the foolishness.

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  • David @BU
    If possible could you post the names and assigned ministries of the Cabinet as well as the Senators named by the PM in her press conference.

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  • David
    Disregard.Just saw it posted by Guest while I was typing

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  • That gesture should make yardfowls feel better, she did not have to, but in keeping with the spirit of showing leadership, it is definitely the right thing to do.

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  • The Leader of the Opposition was just name

    And it is ……………………………..

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  • Pacha…ya know how sweet and accepting I am until ya trip up…lol

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  • Wow. 21 full Ministers, 5 junior ministers, 2 parliamentary secretaries, Mascoll and Billie Miller at cabinet rank.
    Remind me again that the government finances are poor.

    A ministry of salt water, a facebook ministry and a ministry of old people, a director of public affairs and a director of communication.

    and more Tsars to come.

    If I was Joseph Atherley, Ralph Thorne and Ian Gooding Edghill I would be vex that I get left out.

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  • I caught the tail end of the opening statement which was something about saving salaries of Ministers but there are an awful lot of Ministers.

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  • Well Well

    No! The DLP lost the election on known rules

    We say that the full weight of the people should be felt, have all its meanings.

    There should be no resort to political largesse.

    Let the politics be the blood sport it has been.

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  • We warned those of you

    That MAM has too many people to feed.

    And that will breed the first set of infighting.

    Watch it!

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  • See the magnanimity of our Prime Minister………..she has asked the GG to allow for two Opposition members to sit in the Senate………….wonder if the tables were reversed would the DLP do the same?

    MAM realises that there are Barbadians too who voted for the DLP. Take a bow MAM!

    Liked by 1 person

  • Curiously, I watched the PM’s announcement on the BLP channel on youtube. CBC was showing some foreign show! What’s going on at CBC?

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  • A blog was updated to comment on the appointments.

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  • We have some sore bitter losers on BU. Boo hoo!

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  • @Ping

    The dems still in charge there!

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  • If she had not shown leadership, it would look tacky, too early in the game not to be mature, the public is watching, it. makes her look credible, now the question is, will they accept or will 3 people have to be chosen randomly to the senate, from the society.

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  • Mind you the Cabinet is heavy Pacha…but she explained, to get the maximum performance to handle the bad place the economy is in….and to monitor corruption in her cabinet, she had to double up so to speak…what say you.

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  • Will repeat the above comment, ANOTHER BLOG WAS UPDATED WITH THE APPOINTMENTS!

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  • The FX reserve is a simple way of tracking how the country is doing. Barbados does not have a currency that can be traded for other currencies on the international market. Therefore everything that is imported has to be paid for out of FX that is earned within the country. The internet is increasingly taking the earning part of the equation away from us. For example VRBO will rent your facility in Barbados in US$ and send those US$ to any bank account you select which includes those off shore. At the same time everything we consume that is imported has to be paid for form the reserves we have. Cars, gasoline, much food, computers, smart phones all take vast amounts of FX to pay for. Simply stated we are spending much more than we are bringing in. That is forcing us to sell off our assets such as the Hilton to pay for the things we spend on. There are 3 solutions to the issue. 1. significantly reduce spending on imports 2. change the way credit card payments are processed for accommodations etc so that the fx involved comes to Barbados 3. let the Barbados dollar float freely so that FX can be purchased when needed.

    Hard times ahead.

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  • The IMF has updated their website with the IMF staff report. Obviously received a quick communication from the new government of Barbados.

    https://www.imf.org/en/Publications/CR/Issues/2018/05/30/Barbados-2017-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-45913?cid=em-COM-123-37148

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