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Christine Lagarde

June 1, 2018

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

โ€œAs 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 authoritiesโ€™ economic plan. Our ultimate goal is to help Barbados achieve higher living standards and more inclusive growth for the years ahead.โ€

IMF Communications Department
MEDIA RELATIONS

PRESS OFFICER: Randa Elnagar

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


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270 responses to “Barbados Government Seeks IMF Assistance”


  1. The DLP economic management was piss poor for the 10 years
    The BLP economic proposals were unrealistic
    The 73% voted out the DLP not for the IMF


  2. Chaucer, people voted for a lot more than the BLP platform proposals. Donโ€™t you get it? People were just sick ah DEM. The sewage, NSRL, lack of communication by the PM et al, potholes, garbage pileup/pickup, crumbling infrastructure etc etc etc. If you Dems donโ€™t get it now you never will.


  3. Yes David you are not wrong in your analysis @ 6:28 I too found that the Dems look tired and listless in their campaign as though they didn’t have the ‘get up and go’ to keep going on.

    But on reflection when I thought about the pressure that the DLP was under – where even though they tried everything to get the private sector to work with them – they were not budging.Then when the young turk mcdowell came in ( with the financial backing and help of Mia it is alleged) then the Unions including his side kick at the BWU, it was more pressure for govt.They kept saying to the unions we are trying to save your members jobs – but the Union didn’t care about that.

    Add to that the negative headlines in the media and the academia up at the Ivory tower all lined up with their artillery to advance their arguments against them.

    Throw in Commisung in the mix – blocking every attempt to start investment and the Demsbacks were against the wall.

    They tried their best but they made mistakes along the way.

    I note that Mia has suspended payment to overseas borrowers.This is one thing that Sinckler always used to baost about – that despite all those who said that this government did not know what it was doing and that it was the worse – there were some key things that were being done – including always paying their loans on time.

    And Mia always ever the propagandist and Liar – claimed in the house last year that Sinckler did not pay the Credit Suisse loan and when it was proven that it was a lie and she was called upon to apologise – you dun know what her reaction would be ha,ha:

    SHE OPENED NOT HER MOUTH LOL.

    She didn’t even unpick she teeth lol.


  4. @T.Inniss

    As alluded to on another blog, a prerequisite of a leader is to get others onboard. Stuart and company failed this critical requirement. When those you are charged to lead lose confidence than what happens is akin to what happens when a plane stalls. It is difficult to regain control.


  5. People were sick and tired . However people voted for better not more bitter
    You get it
    Mia sold the people a bag of lies to become PM and now she grasp the reality of what she told the masses she runs to the IMF for cover .
    The people are also tired of the big lie and Mia should be held accountable .
    Not feeling sorry for the Unions doah
    They wanted to have their cake and eat it too
    Now they will be getting nothing.

    As for contracts
    What was Mia first order to business before getting people voices involved
    A 8million increased annual debt to the taxpayers pocket. Need i remind you.


  6. The IMF will bring peace, justice, order and wealth to Barbados.

    Make Barbados the new Chile of the Caribbean with zero welfare state, deregulation, privatization, free trade and globalization.


  7. I will ignore your ad hominen
    I will repeat the 73% did not vote for the IMF


  8. How many cooks do you need to fry an egg;let me see:

    Clyde Mascoll

    Ryan Straughn

    Marsha Caddle

    Avinash Persaud

    Who else.Did I miss anyone ?Oh yes

    Mia Amor Mottley

    5 persons to fry an egg.So what the hell Sinckler think he was doing at the frying pan by he self though?

  9. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    When it is time to give praise, it is time to give praise even if you do not like the person, and I do not like Mottley. But, I am willing to give her the benefit of the doubt as long as she remain as she is and does not hoodwink the people in any way. I must admit that the enthusiasm showed and her approach to dealing with what the crooked stinking shites on the DLP did to Barbados is, so far, pleasantly satisfying. She is telling the country what the country suspected was a very worst of Barbados under the Stuart and his bunch of idiots. I hope that these discoveries that are coming into the public domain in the name of transparency do not just fade into forgetfulness because the DLP needs to be called to account for their transgressions. So after all the evaluations and determinations come to a logical conclusion, what must happen next is an investigation into where the money has gone, why the money went in that direction, and who got what when statements do not support it. The DLP must pay.


  10. Afraid to call Brasstacks and no Maureen Holder at CBC, these apologists will frequent BU. One week in office and thry are accusing the PM of a “big lie”. What lie is that, surely not going to the IMF? Do they care to tell us what Thompson and his team promised in 2008; or Stewart in 2013–no UWI fees or layoffs? GTFOH do! I hope Bishop Atherley has the PAC up and running by July. #wunnagineneedsmellingsalts


  11. David I am truly enjoying this.

    You are right for a leader to be successful he needs to get others on board – and one of the key way of doing this is through effective communication.A leader has to be sharp and alert and if he/she sees something is not working he/she quickly changes it to something more effective.I am looking directly at you Freundel Stuart.

    A word of advice to those future leaders – young or old among us.

    Mia will not have to be told this twice – bless her heart lol.Mia likes to talk – although 75% of the time what she throws around is pure verbiage – and totally meaningless.But the people like um so soul lol.


  12. What ad hominem?

    Didnโ€™t Sinckler confirm on the campaign the IMF would have been an option?

    Do you believe selling state assets to shore up foreign reserves was a sustainable approach?

    How do you know what people voted for to counter the blogmaster. It is clear people wanted no part of dems. Look at the independent that secured more votes than Stuart, unbelievable! It was a rejection of the DLP period!


  13. No, SSS. No simple pay. The DLP must be abolished. We also need a commission to investigate the many appointments in the public service on the highest level, namely GG, CJ, DPP and all high bureaucrats S1-S3. If there was any irregularity, eg that XY knew of the appointment before the selection process even started and ordered a big festivity in advance and/or was the personal friend of the PM or some cabinet ministers, that judge, registrar or high bureaucrat MUST BE FIRED AND JAILED.


  14. Electric cars and cheap solar ‘could halt fossil fuel growth by 2020’

    Solar power and clean cars are โ€˜gamechangersโ€™ consistently underestimated by big energy, says Imperial College and Carbon Tracker report

    Press Association

    Solar Energy Grows More Affordable as Panel Prices Fall Faster Than Experts Predicted

    The cost of solar panels is decreasing faster than anyone expected.

    Analysts have revealed that solar panel prices are decreasing at such an alarming rate they could get even cheaper than experts had predicted.

    CleanTechnica has revealedย that a solar panel per watt in 1975 was $101.05, while more than 40 years later, the price in 2015 was just $0.61.

    Expertย Jenny Chase, ofย Bloomberg New Energy Finance, had predicted that a solar module price drop from 62 cents/watt in 2015 to 21 cents/watt by 2040.
    These figures have since been downed even further, with an average solar module sold to a utility scale project in 2017 being about 35 cents โ€” and it will fall to 32 cents in 2018 and 31 cents in 2019.

    It is time for Barbadians at all levels to embrace this technology. Do not waste time waiting on solutions from politicians.


  15. The DPP wonยดt act on the Demonic corruption and must be fired anyway.

    The DPP is a complete failure.

  16. Georgie Porgie Avatar
    Georgie Porgie

    DAVID

    WHEREAS YOU ARE TRYING LIKE THE MUCH ALLIGNED FOX NEWS TO TRY TO KEEP THE DEBATE FAIR AND BALANCED, IT IS DISTRESSING AND DEPRESSING AND DISTURBING TO READ THE JUNK ON BU WRITTEN BY DLP SUPPORTERS.

    EVERYONE KNOWS HOW BADLY THE DEMS FAILED.
    EVERYONE KNOWS ABOUT THEIR ARROGANCE, IGNORANCE, INABILITY TO LISTEN AND TO CARE.

    WHY CANT THE DEM SUPPORTERS AND SURROGATES ACCEPT THE TRUTH AND THEIR INEVITABLE AND OVERWHELMING DEFEAT AT THE POLLS?

    WHY ARE THEY TRYING TO DEFEND THE INDEFENSIBLE?

    WHY CAN NOT ALL AND SUNDRY COME TOGETHER, PUT THEIR BACKS TO THE WHEEL AND STRIVE FOR THE GOOD OF THE COUNTRY.

    I THINK THAT IF YOU DONT STOP THIS FAIR AND BALANCED THING, THIS BLOG WILL DIE VERY SOON.

    THE RUBBISH WITH WHICH THE DEM SUPPORTERS AND SURROGATES ARE SUDDENLY FLOODING BU IS RIDICULOUS AND NOT SUSTAINABLE

    JUST AS THERE IS OBVIOUSLY TRUMP DERANGEMENT SYNDROME IN THE USA FOLLOWING THE 2016 ELECTION, I PERCIEVE A MIA DERANGEMENT SYNDROME IN BIM

    I THINK YOU NEED TO BAN ALL THE CONCENTRATED BOVINE EXCREMENT AND HATE EFFLUXING FROM THE DEM SUPPORTERS AND SURROGATESI


  17. @T.Inniss

    Good communicators talk, if the result is a feel good factor and people getting on board resulting in confidence rise than the job is 50% complete. Something to ponder, the inability of the Eager 11 et al to prod Stuart to adapt his style should be on the agenda in George Street, it says to th blogmaster that there is a dearth in the leadership pool. Our political parties- BLP included- need to come up with creative ways to attract talent. We see individuals being attracted to political life as a meal ticket and the quality to serve a poor second.

  18. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Mariposa

    Shut your ignorant filthy ass mouth, you idiot. I am not ashamed to say that I believed in the DLP and supported this party most of my adult voting days. But, wrong is wrong, and ignorance is ignorance. The nuff word Stuart, the leader who became to his people a Jackass, and a Jackass that did not know he was a practising mule-donkey leader destroy what little credibility the DLP might have stood for. THEY TOOK THE COUNTRY DOWN A VERY DARK HOLE AND THEY NEED TO PAY There is nothing in the BLP for me to like because they too are no strangers to corruption. But, where confidence is the measuring stick for whom Barbados feels most comfortable with, the BLP is heavily favoured. If the cunt who declared himself as a sleeping lion was not so cocky and into himself, he would have led from the front and not pretend that he knew what he was doing when the evidence shows now that he ain’t had a clue. You would do well to wake to shite up and see the precipice Barbados is perched on instead of defending a bunch of lying shites who were only interested in getting their over and away accounts fat and making sure they got enough money stashed in Barbados base on their little arrangements. Show some class, stop being a yard rat


  19. There is a reason we use the expression, โ€˜he canโ€™t see the forest from the treesโ€™, something we are all guilty of at times. Maybe it is a human failing that some of us become so committed to a goal/ideal that we are develop a โ€˜blindspotโ€™.

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

    Fio the last 52 years politicians once elected have been the enemies of the majority population who elected them.

    I have seen nowhere in the constitution where the minority population neither foreign nor local are supposed to benefit more from taxes, contracts, pension funds or land or anything else than the majority population, all which are generated by the majority population. …

    … …so all these years and decades the ministers have been maliciously robbing the majority to enrich a few and themselves….for that this last bunch of exparliamentary thieves should pay dearly and made to return everything to the people.

    “These figures have since been downed even further, with an average solar module sold to a utility scale project in 2017 being about 35 cents โ€” and it will fall to 32 cents in 2018 and 31 cents in 2019.

    It is time for Barbadians at all levels to embrace this technology. Do not waste time waiting on solutions from politicians.”


  21. So true David @ 8:01 a.m.


  22. @BU
    Stuart received 1083 votes
    Let me the independent who received more votes
    For accuracy

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

    AWTY…Check out ND.

  24. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Tron

    The DLP need not be abolished. Every single one of the cunts that made it a dummy party is the ones who need to go. The DLP need fresh guards and no relations whatsoever to those who should be put to shite out of the country or imprisoned for crimes against a nation. Not advocating abolishing the party at all. Barrow’s vision can be relived again, but using any of these crooks that the electorate rejected would not work. After all, who puts new wine into old wineskins. DLp yardfowls better come full circle and request that there be forthwith resignation of all players involved in the catastrophic mess that is forcing Barbados to take on an IMF programme. There is no silver line for the DLP under any of these bunch of fools. If change does not come, I do not see Barbadians voting for them ever again unless the faces change and the approach to public affairs drastically improves.

  25. Are-we-there-yet Avatar
    Are-we-there-yet

    David;

    Thanks but I’m not on whats-app.

    The matter of the Mercedes $330,000 tax waiver is a most important one but a picture of a Mercedes alone cannot prove that the linkages being made are true unless that specific Mercedes is associated with images of the owner and perhaps the Owner’s home along with other key hard evidence of the prevailing narrative.

    The matter requires an in-depth investigation carried out by the authorities to unveil all the facts for the prosecution of persons involved in any misfeance with government monies, if so warranted. Failure to carry out such an investigation could constitute a direliction of duties by the relevant authorities and would be an indicator of change or otherwise.


  26. Agree AWTY, it is why BU will hesitate to post pictures without some credible confirmation,


  27. Electric cars ‘will be cheaper than conventional vehicles by 2022’
    Analysis predicts that the total cost of ownership of electric cars will dip below those with internal combustion engines in 2022

    Damian Carrington

    @dpcarrington
    Thu 25 Feb 2016 05.00 EST Last modified on Thu 4 Jan 2018 06.04 EST
    This article is over 2 years old
    Electric cars will be cheaper to own than conventional cars by 2022, according to a new report.

    The plummeting cost of batteries is key in leading to the tipping point, which would kickstart a mass market for electric vehicles, Bloomberg New Energy Finance (BNEF) analysts predict.

    A switch to solar PV & EVs would reduce oil imports & save Forex.


  28. @Chaucer

    Forget this comment, will develop it another time.


  29. @T.Inniss

    Good start, David is taking you on, so you the mice should unmask get some balls, and do like Patrick King, go to FB, since your DLP don’t have a yard take the rest of fowls with you

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

    SSS….not as long as we stay on top of them AND the GG….who is respondible for all their actions…now we know who is in charge in Barbados…from the time they deviate from that constitution even a tiny degree those like myself will recognize it, take note and sound the alarm..

    All it requires is vigilance. .

    It is bothersome that though the sovereignty does not beli5ng to the people on the island, the crown who owns sovereignty could care less about the day to day management or lack thereof….

    ……but it’s the GGs job to monitor her prime minister and ministers and fire them when necessary…..which is becoming somewhat understandable to me how that actually works. ..

    They say the hardest thing is to know….now we do.


  31. The key to integrating electric and hybrid vehicles is to enable the framework to get the BL&P onboard. So long as non fossil energy is regarded as internment and the price not proportionally reflected in the generation we will have a problem with penetration.


  32. Barbadian are like crabs in a barrel fighting over politicians/ political parties instead of trying ways to help themselves.

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

    It is bothersome that though the sovereignty DOES NOT BELONG to the people on the island….in saying that…if the PEOPLE had not removed the corrupt government, they would still be there deceiving the people who reelected them…

    Which bolsters calls from Heather and others to amend the constitution to include powers for the people to recall/remove and replace any government during their 5 year term, who refuse to do their jobs.

  34. Are-we-there-yet Avatar
    Are-we-there-yet

    WW
    Thanks! I found it on Naked Departure with number plate and all. A Police Investigation should be relatively easy.

    Lets see what happens.

    David;
    Thanks. I think you are setting the right tone for BU. Keep up the good work!


  35. The following statement made by the Prime Minister yesterday puts the country into DEFAULT.

    “the Government announced that it is, today, suspending payments due on debts owed to external commercial creditors. The Government will endeavour to make scheduled domestic interest payments, but domestic creditors will be asked to roll over principal maturities until restructuring agreements are concluded.”


  36. Politicians are elected to enable by formulating the policy. They are an important cog in the process. What we need is for a more aware and discerning public to ensure we leverage all the organs and channels in our system of governance to hold elected officials accountable.


  37. @Watchman

    All are welcome to share views here, the only way to grow knowledge is to share opinions in an open minded way.


  38. Thank you Wily Coyote.Now can you please tell me if this is the first time this country has ever defaulted on any of their loans and in particular a foreign loan.

    We need persons with your know how to help explain things to the masses.


  39. @Wily

    What is your point?

    If we are carrying a debt repayment commitment we cannot honour isnโ€™t the best option available to bring the creditors to the table with the support of the IMF? Going to the IMF will give access to OUR SDR facility, cheap loans by unlocking access to other funding agencies.

    The country ainโ€™t well, the governor of the central bank confirmed this in his first quarter economic review.


  40. @T.Inniss

    It seems you are comfortable romanticizing about not defaulting status above a pragmatic approach to working our way out of the problem. This is exact why we are here, the DLP fought against going to the IMF to avoid the Sandiford yoke of the 90s.


  41. Frying Meat on Gas Stoves Poses Greater Risk
    Gas Stoves Give Off More Harmful Fumes Than Electric Stoves When Frying Meat

    By Bill Hendrick
    FROM THE WEBMD ARCHIVES
    Feb. 17, 2010 — Gas stoves may give off more harmful fumes than electric stoves when cooking meat.

    The finding comes from a study in which steaks were pan-fried under conditions typical for a kitchen in a Western European restaurant.

    Researchers fried 17 beef steaks, each 14 ounces, either with margarine or soybean oil, on gas or electric stoves.

    They measured the amount of polycyclic aromatic hydrocarbons (PAHs), ultrafine particles, and other potentially harmful substances in the breathing zones of the cooks.

    Higher levels of PAHs, considered possible cancer-causing substances, were detected when the frying was done on a gas stove. And the peak concentration of ultrafine particles was greater when frying on a gas stove.

    The researchers note that exposure to ultrafine particles from the air can cause worsening allergies and lung inflammation. They also note that the levels found in the study were under established safe ranges for both particles and PAHs.

    They conclude that “exposure to cooking fumes should be reduced as much as possible.”

    Though other factors are involved in production of fumes from cooking, they say that “frying on a gas stove instead of an electric stove causes increased occupational exposure to some of the components in cooking fumes which may cause adverse health effects.”

    The study is published in Occupational and Environmental Medicine.

    Hi Doc did you know of this study.

    Bajan need to stop using fossil fuels & go green(renewable energy). Forget about politicians & use the brain that God gave you to make critical decisions.


  42. David

    What is your position on the use of raw profanity on your site as used by SSS earlier.

    Secondly I note your comment to watchman and commend you for it.However the responses of the many BLP supporters on this site to any criticism of their party,is very,very,very revealing.

    Is it that they are so thin skinned or that they don’t know how to argue a point and agree to disagree unless they cuss the person who is disagreeing with them?

    This world would be an extremely boring place if different ideas could not contend peacefully.

    I fear for you all when the let down comes – and IT WILL COME!

  43. Bernard Codrington Avatar
    Bernard Codrington

    @ Willey at 8 :37 AM

    You are paying attention. I am glad you are using the brain located above your shoulder. Do you want to spell out the implications for Barbadians?

    @ David at 8 :39 AM

    I think we should also pull the right levers, do you not think?


  44. Wily, David,

    At least MAMยดs balls are big enough to call a spade a spade.

    All the misogynist Demonic figures, especially Big Sinck, were just very weak and needy boys.

    Barbadians must understand that the basket called socialist welfare state is empty now.

  45. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    The GG is a mere figurehead, but maybe in Sandra Mason, we can see the power flexed since I have never heard anyone affiliating her with any shady party. There is a need for an accountable system that is influenced proof, and brutal in the delivery of investigation and charge. Will we see Mottley operating at a level of transparency that will correct the lacklustre approach to investigating political corruption? I am willing, as I have said, to give her the benefit of the doubt. Mottley would do well to capitalise on this opportunity to make serious and pertinent changes to systems that are psuedo approaches in the advancement of island progression when only two entities always fair much better in the class structures set up to keep the island divided. There is a clear cut case for justice for the people, and what the DLP has done to the island cannot be left unpunishable, even if it means a constitutional change or a referendum proposal.


  46. @T.Inniss

    The blogmaster leaves room for commenters to โ€˜expressโ€™ themselves. Sometimes choice words from the home lexicon cannot be replicated by the Queens English.

    Regarding your other comment it is a legit criticism from the other side. Make you point, defend your point, agree to disagree when the time comes.


  47. @Wily

    This is always the challenge, donโ€™t you think?

    Economics, so subjective at times.


  48. Dlp supporters understands that the dlp policies were no longer appetizing to the voter the medicine was prolong and bitter and the dlp paid a heavy price
    However the voices rejection of the dlp does not mean giving Mia a mandate that would increaesed more hardships by the IMF barbados new fiscal managers induced by covert goverance
    For this the people would hold Mia accountable there is no turning back on her initial plans for the people and albthe spin and sound bites would not make up for the grand lie she told to garnish the people confidence


  49. Not romanticizing it David just relating cold hard facts.

    I agree that the last administration did not want to be saddled with the legacy of ‘another dlp govt having to go to the IMF’.And if you notice each time the DLP faced this situation, it was so after the departure of a BLP government.The BLP’s history is one of wastage,racking up huge debts by borrowing and over spending on unnecessary projects and yes corruption.

    While no one can lay charges of corruption under the Sandie administration or Freundel and most of his ministers – there were some allegations pointed at a few ministers of the last govt – but this can never compare to the last 15 years of the Arthur administration where every minister was accused of feathering their nests.Private yachts,many,many foreign or offshore bank accounts,many acquisition of new properties and real ostentatious living.

    Try doing an archive search of the defunct Barbados Free Press.

    The truth is the DLP should have taken harsh measures from the time they came into office in 2008 but they felt they did not want to do any more of the BLP’s dirty work and felt the BLP would use that against them whenever elections was called

    I felt they would have been forgiven if they had explained to the public why they had to do it.

    Somehow David I feel some of those past ministers glad to catch their breath now and perhaps are not too sorry they lost their seats.Perhaps they are saying:’this too shall pass.’


  50. Diesel Exhaust and Cancer Risk:

    In June 2012, the International Agency for Research on Cancer (IARC), part of the World Health Organization, classified diesel engine exhaust as carcinogenic to humans (a group 1 carcinogen). The decision was based on an IARC working groupโ€™s opinion that the body of evidence supports an association between diesel exhaust exposure and an increased risk of lung cancer. The classification was based on results from several large human studies. The Diesel Exhaust in Miners Study played a pivotal role in the IARC evaluation.

    Barbadian time to wake up. The fossil fuel industry killings & robbing us of valuable Forex. Most of the following on BU asleep, wake up.Barbados future may be devaluation,chronic diseases , cancer & death or we can use common sense & turn the corner.

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