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Barbados Government Seeks IMF Assistance

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Christine Lagarde

June 1, 2018

Ms. Christine Lagarde, Managing Director of the International Monetary Fund, made following statement today:

“As announced by Prime Minister Mottley earlier today, the Barbados economy has been going through significant challenges for some years. The authorities are developing an economic reform plan designed to address these challenges, and they have asked the international community and the International Monetary Fund to assist them as they put the economy back on a path to recovery. An IMF team led by Bert van Selm will be visiting Bridgetown to start discussions on how the Fund can support the authorities’ economic plan. Our ultimate goal is to help Barbados achieve higher living standards and more inclusive growth for the years ahead.”

IMF Communications Department
MEDIA RELATIONS

PRESS OFFICER: Randa Elnagar

Phone: +1 202 623-7100Email: MEDIA@IMF.org

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270 responses to “Barbados Government Seeks IMF Assistance”

  1. Mariposa Avatar
    Mariposa

    Will be watching. The IMF first strategy is unto the financial institutions thatbthe debtbis owed
    Well so much for roll back on tution fees
    There is a new sheriff in town named Lagarde

  2. Enuff Avatar
    Enuff

    Mariposa
    Do you have no shame? Spouted a lot of nonsense in support of a pack of incompetent, unpatriotic thieves andvnow you’re on BU gloating about IMF. Your kind is the reason for the 30-0 and will be the reason for the Dems’ long political banishment. Carry on.🤐

  3. David Avatar
    David

    Yours is the same comment David Ellis made to Arfa today. These yardfowls don’t know when to stop even in the face of all the info that is being shared about mismanagement of the economy. Let us rally as Barbadians behind the government to see how the stalled economy can be fixed. What is good so far is to see the energy Mia and team have brought to Bay Street. Note not one Rh peep out of Stuart, Sinckler et al. A vacuous mouthing from Stephen Lashley today on Atherley l

  4. Mariposa Avatar
    Mariposa

    Why wunna blp yardfowls always fighting
    Past govt laid plans to cool the overheated temperature of the barbados economy and was met with hostile resistance from the opposition and their fat cat croonies and yardfowls
    It is all but laughable to hear the blp jacka.ss tell dlp supporters what narrative to follow
    Btw Mia Hyatt still up as a offer.
    Hilton still up as an offer
    Barbados national terminal all potential players
    But the draconian policies of the IMF you going with.
    Please say it aint so

  5. Well, Well Avatar
    Well, Well

    Bajans will long remember the destruction this vanquished exgovernment visited on the island, it will be the stuff of legends, generation after generation will warn their children to never put any political party like that into parliament again.

  6. Mariposa Avatar
    Mariposa

    No! history would put it all in its right place andbcontext starting with a beginning
    The blp yardfowls cannot distance themselves from barbados debt
    The blp was an administration committed to political gainsake with lofty spending. Moneies unaccounted . a revovling debt that was all but bound to collapse giving the high interest rates applied annually
    Past govts played russian roulette with the economy and finally the trigger has been pulled

  7. Prodigal Son Avatar
    Prodigal Son

    Very pleased to see all of the Social Partnership standing shoulder to shoulder with the Prime Minister Mia Amor Mottley.

    It seems as if they had frank and honest discussions and there was agreement on the way forward.

    Let’s work to make Barbados whole again…….it has been broken up for too long!

  8. bajanfreeparty Avatar
    bajanfreeparty

    Nothing but Suckers, I warn you ALL, YOU STILL THINK PLANTATION DEEDS IS A JOKE, KEEP WATCHING, THANK YOU FOR THE INFO BU, Bajan Free Party/ CUP, No clear title deeds, no Banking, Sirs of Barbados are Crooks, title was given to keep lies, , Manifesto! are Lies ,this is why we have Affidavits of Manifesto, Mia must Go to Jail with the rest of them, All 60, The COP and the DPP also shall be removed for Derilection of Duty and Oath of Office, Alex Mitchell BFP

  9. Prodigal Son Avatar
    Prodigal Son

    17 BILLION dollars in debt left behind by the DLP.

  10. Mariposa Avatar
    Mariposa

    Prodigal start yuh counting from the top
    in any case Annanki must be having belly hurt cause he aint gonna get one red cent
    Fool that he is refused Past govt offer.
    Now got nothing to show for his hard work in supporting Mia.

  11. akenatenI Avatar
    akenatenI

    Barbadian have been following an unsustainable path for a long time.
    Nearly a billion dollars a year wasted on oil imports.
    A green economy could have saved us but it looks to late now.

  12. Glorious Mess Avatar
    Glorious Mess

    A way forward is needed. No matter which fowl you may be, no matter which party. We are looking to move forward and get as far away from the gates of hell. Right now we are definitely to close for comfort. Useful strategies are better than meagre banter and criticism. Just me thinking out loud. Respect to all.

  13. bajanfreeparty Avatar
    bajanfreeparty

    We need Clear title land and to give people their deeds under the UDC VAT for Land agreement, So the People can build their homes and get the economy moving, don’t mind the economist now silent with half-truth and lies, , We did run them off the net,

  14. millertheanunnaki Avatar
    millertheanunnaki

    @ David June 1, 2018 6:08 PM

    Why are you surprised at the recent turn of events?

    Didn’t Owen Arthur warn Bajans what was ahead as a result of the inappropriate and failed DLP policies on the economy?

    Weren’t his recommendations to go to the IMF punished with laughter by the same DLP sycophants some of whom continue to squat on your blog even though they have been served with eviction notices by the 30-0 drubbing?

    Because Owen was so consumed with his own vendetta and burning quest for some personal revenge against the now PM Mottley he foolishly allowed his reputation as a well-informed and experienced adviser on economic management to be sullied and his timely advice disregarded.

    But he can sleep a bit more ‘comfortably’ tonight to know that his prognoses have come to fruition.
    But David pray tell us, how can you put in charge of an extremely vulnerable economy a cretin on all matters economic or financial like Sinckler and expect a different outcome other than a severely damaged and downgraded state of economic affairs?

    Even if you give him a duty-free Range Rover or a Mercedes Benz that man cannot tell the ‘lying’ difference between a decimal bull and a percentage posing as a frog.

  15. Mariposa Avatar
    Mariposa

    This turn of events show the ruthless character of Mia wanting so much to be PM rather than tell the people her clear plan of. direction for the economy use a stealth of deception formulated on free giveaways
    Oh ! How much do i remeber the days miller taunted the govt with his predictions if past govt going to the IMF
    Now with cup in hand on the doorsteps of our capitalist masters. Mia barells forward the country in that direction under the disguise of having no other choice.

  16. bajanfreeparty Avatar
    bajanfreeparty

    Mariposa @ Mia have a Choice but Chuse to hide her crimes We shall put Pressure on the COP and DPP to expose the FINDINGS, Station Sgt MarK White of the RBPF Fraud Squad and his new and Old COP must be told to the Public, Mia Shall be removed , One term the next worse case, Spending more money in less than a week when we all need to stand or cut back , Making sure she has 26 votes to keep her in place,As they look to spend IMF funds,

  17. David Avatar
    David

    Yes, and she has the members of the social partnership solidly behind her. That she has done after one week as prime minister. There comes a time when we all should see the need to put Barbados first.

  18. Prodigal Son Avatar
    Prodigal Son

    What I find refreshing David, is that she is taking the people into her confidence and letting us know what is going on.

    In that way, we can rally behind her.

  19. David Avatar
    David

    @Prodigal Son

    Yes this is true. However, like another commenter stated, this is uncharted territory for the country, we have had to live with austerity measures for almost a decade and now this- how will a fatigue people react? Yes, communication and careful management of the vulnerable in the society will be key.

  20. David Avatar
    David

    Here is a text of prime minister’s statement to support the vid posted.

    https://www.facebook.com/SupportMiaMottley/videos/1829340210466846/

  21. akenatenI Avatar
    akenatenI

    https://youtu.be/9guurIAN4o8

  22. David Avatar
    David

    Not good news for Barbados given our oil import bill.

  23. Fractured BLP Avatar
    Fractured BLP

    Well well

    Madam PM has turned to Madam Lagarde of the IMF !

    I weep for Barbados 🇧🇧

    Barbados’ first female PM takes the country into the bosom of the IMF !

    I – magine

    M – ia’s

    F – uture !

  24. akenatenI Avatar
    akenatenI

    If Bajans change their habits we can save the country.

  25. David Avatar
    David

    Yes, it takes balls to make tough decisions.

  26. David Avatar
    David

    And how are words translated to action?

    This as been the problem?

  27. Fractured BLP Avatar
    Fractured BLP

    David

    One of the first tough decisions to be taken…….is to banish you and BU to North Korea 🇰🇵 !

    Barbados needs to purge itself of you !

  28. Fractured BLP Avatar
    Fractured BLP

    It is interesting to watch & listen to Madam PM wax & wail about WASTAGE and DEBT !

    Can any rational thinking Bajan ask her to comment on the $ 150 WASTAGE at GREENLAND ??

    An answer by Madam PM to that question would be quite REFRESHING !!!

  29. David Avatar
    David

    You should read the back page of Barbados Today. You are the one that needs to purge. It will help you to survive in the wilderness.

  30. Well Well & Cut N' Paste At Your Service Avatar
    Well Well & Cut N’ Paste At Your Service

    Fractured exyardfowl…yall would do well to weep for your exmasters time in prison…when the taxpayer’s and pensioners stolen money is finally tracked down.

    The island has been to the IMF before for their balance of payments problem, other islands did it in the last few years and just emerged unscathed and are now experiencing growth..

    ….if as a competent, efficient government you know how to negotiate a program to benefit THE PEOPLE…it can be done and shoud have been done 5 years ago..

    ..don’t even want to know why the incompetent Fruendel government never did….all I want to hear is that none of you are allowed back into the parliament, under any circumstances….no matter who it belongs to.

  31. Disgusting Lies and Propaganda TV (formerly CBC TV and Radio) Avatar
    Disgusting Lies and Propaganda TV (formerly CBC TV and Radio)

    @David don’t pay any mind to Maripussy, Frac-turd DLP….A(ss) C(rack)…and all DEM yardfowls that supporting a criminal organisation now a nearly defunct party…Their ass still sore from the CUTASS given to DEM by the electorate.D licks was hot like FIRE man..DEM crying all de time like 4 year olds. Well let me inform DEM, wunna will continue crying for 15 years more!!!!!…They could really keep quiet and let a real leader like the Rt Hon Mia Mottley run the country. There is no doubt in my mind that anybody that can call Fumble His Majesty got to have screws loose. The people of Barbados do not want the DEMS anymore….wunna get pelt in de garbage!!!…and if wunna dont get rid of Fumble wunna will get pelt in the garbage for another 2 elections!!!!!

  32. Tron Avatar
    Tron

    As predicted: IMF coming!

    As some commentators said, MAM handles things very differently from Big Sinck, the Kingpin of Black Rock:
    Transparent approach, no shady deals in the backoffice. It is widely known that Frundel and Big Sinck had various not so secret meetings with the IMF to borrow USD.

    And do not forget: MAM started the process to approach the IMF ONE WEEK after elections whereas it took Big Sinck 10 YEARS just to reflect the possibility.

    What we need next is a business plan supported by the IMF and including deregulation, flexibilization, privatization and open market:

    phasing out all public servants and workers older than 55 years (“innovative retirement”)
    stimulating more public servants to leave the public service
    a total ban on hiring more public servants for the next 10 years
    a constitutional provision to prohibit a wage hike in the public service higher than productivity. Given the low work ethic, public servants won´t get a salary increase for the next 100 years 🙂
    privatization of all public corps (especially the NHC), alternatively the liquidation of those which cannot be sold
    introduction of school fees for secondary education and fees for health care in public institutions
    after-school training for young craftsmen to lift the lousy quality of work done in the construction industry
    reforming the laws for the offshore financial industry, bringing the laws on the level of Cayman, Bahamas and Bermudas
    erasing 80 % of all laws of Barbados
    moderate devaluation of the Barbados Dollar from 1:2 to 1:4
    abolishment of Big Sinck´s National Socialist Plantation Tax
    lowering import duties and import taxes to max. 10 %
    stimulating LOCAL enterprises and LOCAL hotels through quick application process and low taxes
    BUT higher income taxes for RICH Barbadians up to 50 %

  33. Mariposa Avatar
    Mariposa

    Things interesting

    Back against the wall. Nuf nuff lies told.
    Now the bajans are being fed the goodies of the IMF.
    Delay debt payments interest payments add up
    Somebody gotta pay them.
    Who the somebody
    Vodoo economics got the country in a stranglehold
    Self interest rules the day
    Did tell bajans dont worry we will fix everything
    Somebody gotta pay the piper
    A day of reckoning has arrived
    The bills are due
    Here comes the IMF
    FASTEN YOUR SEAT BELTS
    THE RIDE IS GOING TO BE ROUGH AND HARD

  34. Tron Avatar
    Tron

    Barbados has to approach the IMF not because of King OSA or MAM, but thanks to Big Sinck, the Kingpin of Black Rock and failed experiment of free Barbadian university education. The man should have never entered any institution of tertiary education.

    Sinckler is exactly the reason why I plea for entrance tests at UWI. To sort out the least gifted.

  35. Mariposa Avatar
    Mariposa

    Annakani the fool of the day
    Rather than take something took nothing
    Now his members gonna take a fall because of his callous disregard
    He prefered to follow the pied piper
    The pied pipper new offerings would be hard and swift for his members job losses coming down the pipe
    Annankani got no one to blame but himself
    Imagine bowing to the executioner request
    What a lark funny days and funny nights

  36. Artaxerxes Avatar
    Artaxerxes

    “Things interesting. Back against the wall. Nuf nuff lies told.”

    Mariposa

    I’m glad that you have finally admitted that “nuff lies told.”

    You DLP yard-fowls are conveniently forgetting that Stuart and Sinckler LIED to Barbadians that the economy was improving, while REFUSING to release the IMF’s Article IV report, which gave a “synopsis” of the true state of the economy.

    Sinckler’s “Vodoo economics got the country in a stranglehold.”

    And of course, you would be deceitful if you do not admit Sinckler is as notorious a liar as he was an abysmal failure as minister of finance.

    No matter how many times you and the other yard-fowls (Fractured Idiot and Donville’s brother I) try to spin these issues, you should remember your previous strategy did not work…..hence the 30-0 whipping.

    People read your Shiite comments for “comic relief” and to amaze themselves to see the stupidity of blind party supporters.

    I heard a DLP yard-fowl blaming Peter Wickham for the 30-0, while another said Bajans bought into the BLP’s manifesto.

    You people just won’t admit that the Barbadians became fed up of you lot.

  37. Mariposa Avatar
    Mariposa

    Stop talking nonsense the spin of the blp would fall on deaf ears very soon
    The debt problem is a creation of many years in the making.
    BlP refusal in its 14year period to contain its high debt and spending habits and unaccountable wastage
    Barbadains believed in the psychological babble of punching above its weight when in fact the weight of the country was all debt laden
    The warning signs were all day but all and sundry prefered the continue things they way they were
    Mia has hitched her free giveaway wagon to the IMF wagon looking for a way out
    Now bajans would pay the price for wanting all but not wanting to give back nothing in the best interest of the country
    In the weeks and months ahead the noises would get loud as the natives sharpen their spears in high expectations looking for their free give aways
    All the blp explanations would not save the day
    The good offering pie has seemed in one week to fell flat on its face
    So what do we do now
    Call in the grim repear
    Interesting times ahead

  38. Mariposa Avatar
    Mariposa

    Cant wait for to hear the next media briefing which most likely would detail massive job losses and Mia explanation to the Union
    Lol Annakani is the biggest losser what a joker
    Took his members all around the mulberry bush for zero rewards

  39. CHAUCER Avatar
    CHAUCER

    MAM has introduced the politics of Bait and Switch to win an election

  40. bajanfreeparty Avatar
    bajanfreeparty

    You all were warned and now look, Beatrice Henry to Violet Beckles , 1986 Assent Fraud of Sir Richard L Cheltenham and Sir CO Williams,then in the AG/CJ Sir David Simmons, then All AGs to PM Owen and AG MIA ,to the cover-up by the COP/DPP with the BLP Dottin with Sir David, then 10 years with DLP cover up with MOF and UDC/NHC Homes and land Laundering, of 21+ Years of VAT at 15 % then to Fraud of trucks trash @2.5% = 17.5% VAT Fraud, Land for VAT fraud , Land TAX Bill and no deed TAX and VAT with Land tax Bills in Hand and NO Deeds,Money and land laundering, of Barclays Bank and CIBC to First Caribbean after 30+of Fraud and PONZI with CLICO now called CIBC-First Caribbean to try to split and run, Got Stuck ,500 Million +140 Homes missing under Owen and Mia, and 497 Million missing under the DLP , Now Mia want to look like the Moor in shinning Armor, No Clear Title of Land Kills Loans at 8% Savings at 3 to 4%. Now at .01% , More than 24 Billion$$$ Laundered into Banks in Barbados for overcharged sweet dealings. Now the COP and DPP sit on the side of Fraud and not Rule of Law, The money in the Bank belong to the People, 2/3 is All Mia needs to make law , have More take the money at 3% and give the people 1% on their saving, Restore Clear Title Deeds Lands and records,30,000 new homes to build , no more Hotels Homes needed, All at working again, The Big one is coming to Barbados can no longer live in wood , many will die,Outside investment will come back , Bajan outside will get there title deeds to buils, the Banks will stay and work, Much to be done, Greed and crime in office of the /BDLP/DBLP and now the BLP/IND Government , As before Mia had 14 seats and lost 2 Owen and Agard, Now she had 30-0 now she 29-1 More will cross when they see and learn her Fraud, Rule of Law shall recover the Money and Land as they did in Guyana,Is this why the DPP was killed for his Asset Recovery Unit with the CJ? Lock them All the hell up,Wake up Barbados, BY Alex Mitchell ,Bajan Free Party /BFP St, Michael South

  41. David Avatar
    David

    Look at the upside, there seems to be a team in place ready to make decisions. Look at the picture of those standing behind and next to the prime minister – governor of the central bank, heads of unions, private sector agency, BHTA, et al. All the stakeholders based on discussions have obviously agreed this the path forward. So far we are waiting to hear the voice of the DLP. It must be difficult given they were ignored by voters. What do Sinckler and Estwick have to say? Does anyone care? As a DLP supported stated on the talk show yesterday, she wants the DLP to rebuild in the next six months, includes jetissoning Stuart, who she blames for the demise of the party. However David Ellis opined that Stuart – the appointed party leader – will probably wait until the AGM scheduled in August? No surprises if this were to be the case.

    So far the DLP has not matched the pace and energy of the DLP in week one. It has behaved like a tired party glad to rid demselves of the reins of government.

    >

  42. Fractured BLP Avatar
    Fractured BLP

    Well first they brought a bevvy of Elections goodies !

    Costed by ” ball park ” figures !

    Madam PM implored her listeners

    ” vote fuh muh and I gine show yuh ”

    So 30 – 0 they voted for Madam PM

    7 days later – Madam PM – unable to deliver the ” GOODIES ” to her voters !

    Made sure she fixed up her 30 CABINET members to the tune of $ 30 million dollars 💵 ( inclusive of salaries, allowances & 30 Personal Assistants )

    Then her choice afterwards was to cart off poor Barbados 🇧🇧 to the IMF !

    So we can conclude without a DOUBT !!!

    I – it’s

    M – Mia’s

    F – Fault

    We weep for BARBADOS 🇧🇧 !!

  43. David Avatar
    David

    Chaucer let us for argument sake accept that voters, all 70% of them who voted, were duped. Are you ignoring the fact Bajans have been living under austere arrangements for close to ten years and have not been able to jumpstart the economy? The right thing to do is step aside. All the other stakeholders had no confidence in the DLP government. It had become a government going through the motions. The fact many heads of SoEs had their contracts renewed just before the election confirms even government members expected to lose.

  44. Mariposa Avatar
    Mariposa

    From 2008 the past govt told the people of the debt problem. . The golbal financial situation depressed the one nest basket that of tourism
    Govt warnings and policies were met with hostile resistance from the Unions and the opposition and the private sector with midday marches
    Govt plan for the Hyatt which would have been an introduction in making bridgetown a commercial hub was met with hostility and a battle that has been ongoing for more than eight years wind up in the court
    Measures by way of sale of govt assests to increase the decline of govt debt was met with hostile resistance
    So we are here not because of govt doing nothing to cool the overheated economic temperature but because of an unquenching self-interest that has placed a hangnoose around the betterment of the nation interest
    All in all the private sector would have achieved what the wished and hoped for when the IMF becomes the manangers of barbados economy.
    That is having to pay no more taxes in the best interest of the country while the poor and guillible have no choice in being told what it must do by the IMF for the financial institutions best interest
    The medicine would be slow and bitter drip by drip

  45. Mariposa Avatar
    Mariposa

    Nobody want to see pictures .people want to see action taken on the plans by Mia Mottley on what they voted for
    All these phto ops would mean nothing after the “BIG BAG OF LIES “Mottley told in order to buy the people confidence. Blp yardfowls spin all you want a lie is a lie
    Maybe Mia next plan would be to open a school for the Blp spin doctors
    Yuh guys gonna need all help

  46. David Avatar
    David

    Why don’t you worry about the contracts you lot went ahead and locked just before Election Day, like Sandra Forde who presided over a transport board on its knees. Now the public will have to pay out her contract when he tail is booted out. This is a retired banker who is well off financially. The $330,000 duty waiver on a GLC Mercedes for Maloney, the picture is bouncing around social media etc. you guys promised change and instead have left the place worse than Arthur left it in 2008. You lot will be remembered as the WORST government in the Caribbean since adult suffrage was introduced.

  47. David Avatar
    David

    Deal with the fact that the Mottley government received an unprecedented mandate to run the country, 75% of the voters rejected the DLP. You guys need to go sit and figure where you mad a wrong turn. How we manage the country going forward must change, help the country through this process. Add your voice to those who want changes made to the governance model, instead you all coming with the same tired narratives which were soundly rejected last week. You may have the final word.

    The blogmaster promises BU will continue to play the same role as we have done from inception. We will call it as it is there to be called.

  48. Enuff Avatar
    Enuff

    Unbelievable!! Are the DLP surrogates on BU so stupid that they are ignoring the simple FACT that they were the government up to last week Thursday and therefore the state of the economy is their doing? It will be a long, painful and embarrassing 5 years for you. I expect many name changes, but the same message from these apologists trying to defend nonsense. Again I ask, do you lot have no shame? Even Astor Watts, after having to drink tea and rub his head, is accepting the DLP went wrong.

  49. Are-we-there-yet Avatar
    Are-we-there-yet

    David; Could you point us to where on social media the 330,000 BMW and Maloney is being linked?

  50. David Avatar
    David

    @AWTY

    A picture of the alleged car is being circulated on WhatsApp.

    >

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