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

270 responses to “Barbados Government Seeks IMF Assistance”

  1. Georgie Porgie Avatar
    Georgie Porgie

    Are-we-there-yet June 2, 2018 12:31 PM
    but wait a few months for Mueller’s Interim or final reports on Obstruction and/or Collusion. The Trumper is an illegitimate President and Mueller has the proof. Trump only beat Hillary because the Russians helped him and he will be exposed this year, hopefully, before the Mid-Term elections.

    AWYT
    did you read that stuff above on the Alt-right or Russian fake news media, or did you get that from one of your deep alt-left sources?
    You know know that Mueller has already indited a “ham sandwhich.” ah lie
    Man Mueller even indited a Russian firm that did not even exist! ah lie

    at DPD RE
    “Trump won fair and square”
    EVERYONE KNOWS THAT…….INCLUDING THE DEMS AND THE MULLING MULLER ah lie
    YOU

    the rest of what you wrote is YOUR OPINION FROM YOUR SOURCES

    OTHERS HAVE OTHER OPINIIONS FROM THEIR SOURCES

    WHAT I WILL SAY THOUGH IS THAT TRUMP HAS NOT DONE ANYTHING RIGHT …HOW COULD HE? CAUSE ACCORDING TO YOU HE BROKE THE COMMANDMENTS, FORGET?
    THE MAN IS A SINNER!


  2. Fractured and Mariposa we are not stupid. Whatever happens with the IMF and the Barbadian dollar will be blamed on the DLP. Let me repeat, the DLP will take the blame. If I were you, I’d go silent. Political wilderness.


  3. @David

    Wily just stating a FACT, agree IMF is the only route forward, declaring sovergien default will make future negotiations with IMF and any future creditors more ominous. S&P, Moody’s etc. by early next week will no doubt adjust Barbados credit rating to the BOTTOM.

    Options are LIMITED and success is not guaranteed, the noose is always present.


  4. Someone was saying today people were asking in the market if anyone seen Sinkler lately..

    Someone else said “More-u-rine” Holder should be pelted with rocks..so ah guess they are both in hiding..lol


  5. @David

    “bring the creditors to the table”

    Credits do not have to come to the table, they can take international court action, ie Argentina.

  6. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Well Well

    If you do exercise those powers when they are needed then you are a mere figure head. Maybe it is the reason why political parties appoint persons who are vested in their party because they know they will remain reticent over bothersome matter.

    T.Inniss or whatever your name is, the SSS says what the hell she wishes. If anyone does not like it, they can complain to the blog master and ask him to ban me. I am not as bad as used to so take a chill pill. Note that I do not ever change my name. I remain true to myself, no pretender, no fraud. What are you?


  7. The bottomline is Fruendolittle, Sinkler et al knew exactly what havoc they had wreaked on the economy, they were warned by IMF and all the rating agencies involved since 2008…their refusal to engage IMF meaningfully post 2013 is because they knew a thorough audit would reveal the mess they made and highlight the missing money and all these cost overruns to pad their own pockets and those of their bribers…to them that was not an option…better to hope on a wing and a pray that the electorate was dumb enough to reelect them so they could continue to cover it up and find someone else to blame..or a miracle occur and no one will ever know..

    Of course that is the mentality of juvenile grade schoolers who as old ass men and women…never matured mentally.

  8. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Mariposa

    Solutions Party sang from a hymn sheet of justice that I usually sing on this blog. That is why it is easy for me to lambast the corrupt DLP under idiots Thompson and Stuart. I do not hold any allegiance to persons in a party but to the established legacy of the party that is base on doing right and dealing with wrong. I hold firmly to what Barrow commenced as his vision for the Democratic Labour Party as preached to me by the old pappy, who castigated idiot Freundel for the nonsense he did. Therefore, if Solutions intended to make a difference in the way governance is meted in the name of public sector financial management, I was willing to embrace that to the fullest. He was willing to put controls and penalties in place to deal with the fishers of money whose main goals were them first and country after. How could you in the face of gross financial mismanagement by crooked Sinckler get on here and talk a ba-role of shite just for the sake of talking shite. You think that people do not know that the BLP is not without spot and wrinkle? That is why she got to make the changes that are necessary to restore confidence in the people since the baton is passed from B to D when either or engage in a lot shite wrongs. She id the first Female PM, the first leader to win all 30 seats, and the one to whom all of Barbados, except yard cunts like yourself and DLP loyal lapdogs, are looking towards change. She must implement the cries of the people in policy and legislative changes, rather new or amended, to protect renegade monks from doing similiar shite as the DLP. Anyone who is willing to make Barbados better by putting systems in place to safeguard Barbadians from the establish crookery will get my support.

  9. Fractured BLP Avatar

    It’s Mia’s Fault = I M F !

    We weep for Barbados 🇧🇧 !!

  10. Sunshine Sunny Shine Avatar
    Sunshine Sunny Shine

    Well

    Forget the …not.. that should read…if you do not exercise those powers….


  11. A yardfowl by definition will peddle the party line. What is ironic is that the public awaits the official party response to the shellacking last week.


  12. SSS…I got ya, totally understood.

    Don’t mind exyardfowls, they have no yard and will now haunt BU day and night with their well known, uncultured stupidity…..lol

    They got thrown out of parliament….by the people, a large cross section of whom realized being a yardfowl was not a life, that they should strive for and do deserve much better from their representatives …that alone must hurt…

    in addition, they will hopefully not get a one, let alone 2 seats to pollute the people’s parliament ever again, not even as opposition.

    total obliteration for dem….

    This is a reboot for the people…sin el elemento destructivo


  13. PM declared default on debts of “external commercial creditors”. These are loans like the “grand” CS loan from 2013. I am not sure if it also means a default on any gov bonds issued so far.

    PM also declared default on all “domestic creditors”. In my understanding, this includes non-commercial creditors as well = clueless Bajans buying gov junk bonds.

    Most of the NIS money is lost as well or in Baloney´s and COW´s deep pockets. “Restructuring” means a hair-cut since the debt load is too high.

    In other words: BARBADOS IS BANKRUPT. As I told here on BU since years. Reminds me of Andersen´s “The Emperor’s New Clothes”. It took MAM to speak out how Barbados really is.

    The only remaining question is: Will devaluation adjust the crooked BBD to 2.7 or even deeper to 3.0, 4.0. Even 1:11 is possible.


  14. The PM declared default in an official WORD document and traditional media is not even aware of this fact!!!


  15. @Tron June 2, 2018 7:58 AM

    The DPP won´t act on the Demonic corruption and must be fired anyway.

    The DPP is a complete failure.
    ……………………………………………………

    The dems knew way back then that their days were numbered hence the rush to appoint any and every body.

    I for one was never impressed with this DPP…….all this play on the woman thing……..when she could allow the prosecution of that poor woman who lost her son on his graduation day was heartless. I read recently where the Chief Magistrate was chiding people for collecting signatures to petition against the prosecution…………where the hell was he when they did not prosecute the big man who allegedly shot his son while cleaning a gun.

    Dale Marshall has got to think differently to get this judicial mess cleaned up…….and we hope that the nuisance we have as a CJ will have the dignity to retire……..he should be near retirement as he was in the same year at Foundation as a relative of mine and my relative is now 65……..and because the CJ is doing such a piss poor job and was appointed under less than stellar circumstances, he needs to go. Even the late Amused after attacking me for opposing the CJ……….came to that realisation long before he passed.

    Dale needs to bring an amendment to the House the same time as he brings the one to appoint three more judges……..to appoint a Special Counsel based on the US model with powers to charge and indict the wrong doers 2008-2018.

    Lock their arrogant RH’s up!


  16. That pretty blue Mercedes MP 99 is the DPP?

  17. de pedantic Dribbler Avatar
    de pedantic Dribbler

    I appreciate this more standard political SPIN to dismiss the positions with which you do not agree 🙂 ..so as my blog colleague would say ‘let’s tarry awhile’ @Doc GP.

    Let’s set a standard between fact, fiction and opinion. Not alternative facts. Not fake news. Not spin. A lie is a lie; an opinion just that and facts are undeniable. Period!

    @Are-We’s remarks @ 12:31 PM are his OPINION. He did surely commingle facts (Russians helped Trump) into that view. But his conclusion was his opinion about said facts. No DISPUTE on that.

    So what makes the facts real. Well an independent analysis should. So when the Chairman of the Republican Senate Intelligence Committee Sen. Richard Burr said: “The Russian effort was extensive, sophisticated, and ordered by President Putin himself for the purpose of helping Donald Trump and hurting Hillary Clinton.” That should define the FACT clearly.

    Money Magazine, Jan 2018. “Well, he’s been lauded for outperforming Ronald Reagan in reducing unemployment after a recession—and bashed for doing too little to stop companies from moving jobs overseas. […]So what’s the real deal in terms of President Obama’s success (or failure) on jobs? Here are answers to some key questions.

    “The U.S. added 2.2 million jobs in 2016, on top of 2.7 million jobs gained in 2015, according to the Bureau of Labor Statistics. In fact, there has been growth of at least 2 million jobs in each of President Obama’s last six years in office, and there have been 75 consecutive months of jobs growth, a modern-day record.” FACT. PURE SIMPLE FACTS.

    More basic data from the US Bureau of Labor Stats.: US unemployment rate fell to 3.8 percent in May 2018 from 3.9 percent in the previous month, and below market expectations of 3.9 percent… It was at 10% in Oct 2009 and at 4.6 in Nov of 2016.

    NO OPINION COMMINGLED with FACTS. ALL FACTS.

    Now sir if you could apply some factual basis to your commentaries rather than opine falsely with things like “the rest of what you wrote is YOUR OPINION FROM YOUR SOURCES” then we could actually get somewhere practical! 🙂 !

    Is there any wonder why political discourse is so obtuse and lacking accord when otherwise sane people can offer platitudes like ‘alternative facts’ and deliberately confuse opinions with facts. SMH!


  18. The AG has a lot of work to do…

    make amendments to take that much domestic power out of the hands of a clearly not very competent DPP, how could she be when she was second chair to the deceased DPP….then appointed by an exgovernment who violate the rights of their own people…

    the GG has the power to and can recall the DPP..

    The CJ was given years to upgrade the Judiciary…I don’t see much improvement particularly as it relates to cases still lingering in the Supreme Court, nuisance lawyers still maliciously creating the environment for cases to linger unnecessarily in the Supreme Court for years… ..insurance companies still misusing. the Supreme Court and refuse to bring closure to cases…

    .the GG has the power to recall the Chief Justice if he is not yet at retirement age.

    The CJ never really achieved much and was not expected to since he was appointed by the same exgovernment that does not recognize decisions handed down by him nor any of the judges…..we were merely hoping there would be changes and upgrades under his tenure..


  19. Hopefully the Mia government ends the Mercedes mentality in the civl service, among the judicial service, among ministers, when these new crop of Mercedes break down in the next couple years as they are sure to, get more sensible, roadworthy vehicles..

    …. given the state of the economy, they should all be driving their own cars, they make enough money monthly to purchase their own…something gotta give..

    .. those Mercedes cars are not suitable for the island’s roads, particularly at the taxpayer’s expense…they are a waste of tax dollars, why can’t they buy their own cars, which idiot made it mandatory that they must all drive Mercedes…

    If they needed a limo like the Beast I would understand, that vehicle is bullet proof, grenade proof, rocket launcher proof, and it fits neatly on a presidential plane, but none of them need anything so extreme in the tropics, so what’s with wasting the taxpayer’s money unnecessarily..


  20. if you devalue what does that mean to us foul mouthed carpet baggers ww


  21. BlP yardfowls would continue to spin like a top in the mud. The long and short of all this debt problem did not happen in a ten year period. The blp were the ones who expanded the civil service and pass a law that wages and salaries cannot be cuts after the civil service was downsized by Sandiford.
    Mia comes along and with a stroke of the pen adds 8millions more to the debt
    If Mia was so concerned about debt resolution why would her first order of business would be to expand and spend


  22. Your hignorance knoweth no bounds. You should have you brother vett your comments before posting.


  23. @Well, Well June 2, 2018 2:31 PM

    A few weeks ago I asked a Mercedes Benz manager if their cars are suitable for hot, tropical climate plus potholes and short distances to drive (the conditions in Barbados). He said NO, but the consumers in the Caribbean wanted it so! He personally recommended something like a Toyota Hilux for Barbados. No joke.

    Audi, BMW and Mercedes just are not suitable for Caribbean islands. When will people learn this?


  24. Tron…they still won’t want to hear that, it’s not their money being wasted on Mercedes that were designed for autobahns and freeways…damn fools..

    I bet not one of them will want to take their high salaries and pay for a Mercedes, bey ya Fruendel don’t want to ride around in any that he will have to purchase..

    The neglected roads are suitable for 4 wheel and all wheel drives in their present condition.

  25. Georgie Porgie Avatar
    Georgie Porgie

    RE Now sir if you could apply some factual basis to your commentaries rather than opine falsely with things like “the rest of what you wrote is YOUR OPINION FROM YOUR SOURCES” then we could actually get somewhere practical!

    WHAT IS FALSE ABOUT SAYING “the rest of what you wrote is YOUR OPINION FROM YOUR SOURCES” WELL IS IT ACCORDING TO MY SOURCES?
    “the rest of what you wrote is YOUR OPINION FROM YOUR SOURCES”

    DO YOU THINK I CARE ABOUT THIS BS.
    I CAN UPLOAD TO BU MUCH OF WHAT I GET TO READ DAILY.

    BUT WHY SHOULD I? YOU WILL SAY ITS NOT TRUE, BECAUSE IT DOES NOT ACCORD WITH YOUR VIEW. AND BECAUSE IT DOES NOT COME FROM YOUR SOURCES ah lie?

    WHAT WOULD IT PROFIT ME TO DO SO? OBAMA IS A SAINT AND TRUMP IS A SINNER AS YOU SEE IT, CAUSE Trump BROKE THE COMMANDMENTS. OBAMA IS LIKE THE RICH YOUNG RULER WHO KEPT ALL OF THE COMMANDMENTS FROM HIS YOUTH, RIGHT?
    .
    I CARE ABOUT CRICKET BIBLE AND MEDICINE..AND MY WIFE AND SONS..NOT POLITICS. I HEAR FOR THE MOCK SPORT……BUT HEAR YOU

    the Chairman of the Republican Senate Intelligence Committee Sen. Richard Burr said:
    “The Russian effort was extensive, sophisticated, and ordered by President Putin himself for the purpose of helping Donald Trump and hurting Hillary Clinton.” That should define the FACT clearly.

    WHAT FACT? ARE YOU SAYING THAT the Chairman of the Republican Senate Intelligence Committee Sen. Richard Burr SAID THAT THAT IS THE REASON WHY TRUMP WON?
    .
    IF YOU READ WHAT YOU WROTE YOU WILL SEE THAT IS NOT WAS SAID

    DID NOT CLAPPER SAY THAT IT DID NOT HAPPEN?
    DID NOT THE OBAMINATION SAY IT COULD NOT HAPPEN?
    I SAW BOTH OF THESE PIECES OF SCUM SAY IT DID NOT AND COULD NOT HAPPEN ON MY TV ON THE SAME CNN ETC THAT YOU WATCH?

    WHAT IS REALLY TRUE THOUGH IS THAT “The Russian effort was extensive, sophisticated, and ordered by President Putin himself for the purpose of helping Donald Trump and hurting Hillary Clinton.” AND THAT OBAMA AND THE SCUM AROUND HIM KNEW ABOUT IT…….BUT THEY DID NOTHING ABOUT IT BECAUSE THEY WERE SURE HILARY WOULD WIN ah lie?

    tell me fool bert WHY DID OBAMA AND CLAPPER AND BRENNAN AND AL O DEM LET TRUMP WIN EVEN THOUGH THEY KNEW WHAT THEY KNEW? WHY?

    I WILL SAY NO MORE CAUSE IT MAKES NO SENSE ARGUING WITH A FOOL


  26. @ David,

    A real real Mercedes..

    ” Lewis Hamilton lists Mercedes for sale on Auto Trader, asking US$183K ”

    https://www.ctvnews.ca/autos/lewis-hamilton-lists-mercedes-for-sale-on-auto-trader-asking-us-183k-1.3917831


  27. PM, I will support anything other than Peter paying for Paul. I suggest that you do all in your power to make Paul pay before asking Peter to do so. Paul is well known and you know where to find him or BRA can provide directions. There is absolutely no justification why people that live beyond their means should be allowed to continue doing so at the expense of those that live within their means and prepare for retirement.


  28. @Hants

    Appreciate the disposition you show on BU at all times.

    Mercedes as you know is a brand that is aspirational. Public servants are not paid to compare with private sector counterparts and inducements are therefore used to attract talent. Nothing wrong with such an approach, people should be remunerated based on the competitive landscape. What we need to do better in Barbados is to demand and log performance but we have to provide the tools.

  29. Georgie Porgie Avatar
    Georgie Porgie

    MR BIRD BRAIN SIR

    I GOT THE BELOW FROM ONE OF MY SOURCES
    IS THIS NON-FACT OR FICTION? IS IT EVEN POSSIBLE?
    NORMALLY I WONT POST THIS STUFF CAUSE I REALLY DONT CARE
    BUT THIS IS JUST FOR YOU
    SOURCE OF WIRETAPPED MANAFORT MEETING DISCOVERED – TRUMP WAS RIGHT!
    It’s been reported that the meeting between Donald Trump Jr, Paul Manafort, and Jared Kushner with Russian lawyer Natalia Veselnitskaya was set up to allow a wiretap be placed on the phones of the Trump campaign during the 2016 election.
    And now Rinat Akhmetshin, a Fusion GPS employee, confirmed reports that he was at a meeting with Donald Trump Jr, Paul Manafort, and Jared Kushner with Russian lawyer Natalia Veselnitskaya.
    President Trump has long accused the FBI, under Loretta Lynch, of wiretapping his campaign.
    “Scoop: Manaforts phone was illegally bugged during meeting with Russian Lawyer, confirmed by multiple sources. Lynch ordered it.”

    Scoop: Manaforts phone was illegally bugged during meeting with Russian Lawyer, confirmed by multiple sources. Lynch ordered it.
    Veselnitskaya’s entrance into the United States was initially blocked and apparently then-Attorney General Lynch granted “special permission” for the Russia lawyer to enter the country.
    Recently released FISA transcripts of the June 2016 meeting initially serviced as the basis for the FBI’s investigation into Trump’s campaign and alleged ties to Russia.
    This would have been illegal, as FISA court denied Obama’s June 2016 request.
    Reuters had previously reported that the FBI was investigating 18 separate undisclosed meetings between Trump’s team and certain individuals “who may be” associated with Russia. At the same time, Jack Posobiec broke the news that one of the meetings happened with a Trump family member who was not Jared Kushner; as we know now it was Trump Jr.
    “Scoop: A number of the 18 unreported communications with Russia was by a Trump family member”
    Scoop: A number of the 18 unreported communications with Russia was by a Trump family member

    In summary: the Obama administration sought, and eventually obtained, authorization to eavesdrop on the Trump campaign; continued monitoring the Trump team even when no evidence of wrongdoing was found; then relaxed the NSA rules to allow evidence to be shared widely within the government, virtually ensuring that the information, including the conversations of private citizens, would be leaked to the media.
    I’m sure we’ve all thought it but I’ve said it time and again… it’s a matter of time before more and more information about this happens. I think we all also know that we’ll find certain Democratic politicians at fault for a huge number of illegal activities. It’s just a matter of time, folks. We’ll get’em!


  30. If the US$ reserves declined to purchase goods, should the intake from NSRL and import duties be way up?


  31. What if it is paying down debt?


  32. Reports suggested that the intake was below expected

  33. millertheanunnaki Avatar
    millertheanunnaki

    @ Guest June 2, 2018 3:01 PM

    Excellent contribution!

    The new government, and by extension the BRA, know where much of that money has gone and who have not yet declared their shares in either their private or corporate tax reporting responsibilities.

    Let them start with Greenverbs Parris $3.3 million and the millions in legal and consultancies the likes of Hal G siphoned off through his connections with his bosom pal Freundel.

    Such immediate tax recoveries ought to be a prerequisite for any IMF assistance; a state of lax tax administration which has been on the IMF radar since 2013.


  34. Then we have outstanding VAT, corporation tax, property tax, students’ loans, personal income tax, undeclared professional earnings, anything that passed through the port without paying full duties,,, making Peter pay will not cause Paul to change his ways


  35. News worth sharing….Caswell is a senator..

    DLP officially locked out of parliament, now and forever…….lol, lol, hahaahhahahahha


  36. Caswell is a WONDERFUL pick.

    Congrats, Caswell!!!

    The kind of man Barbados needs after the pitch fork released the Demonic forces ten years ago.

    However, only some human sacrifices will appease Goddess Bim … Where are THEY hiding?

  37. millertheanunnaki Avatar
    millertheanunnaki

    @ Well, Well June 2, 2018 3:36 PM

    Well deserved!

    That is how the Senate should be made up; of men and women of ‘guts’ and wisdom, not sycophants and political yard-fowls.

    Our own Jeff C. should also be appointed by the GG as an Independent senator.


  38. @David

    BU yes . but the expressions of a very shock unmask T. Inniss on FB media,even better .

  39. Are-we-there-yet Avatar
    Are-we-there-yet

    Congrats Caswell. A better choice for an Opposition Senator could not have been made under any circumstances


  40. It continues. Caswell in wunna nene. PAC here we come.


  41. David, Gabriel

    I had to laugh loudly last night when I saw Peter Wickham on the CBC news set giving political commentary on the Atherley saga…………..that told you for sure that the magguffy has gone.

    What a thing though! The woman controlled CBC as if it was her fiefdom, what a thing…….

    Wuhloss……. Mia whom she maligned daily with the Trini woman did not even get the pleasure of giving her her walking papers.

    I have been told that the other three magguffies…..Doug Hoyte, Michelle Arthur and Rosemary Alleyne are saying that they are not going anywhere…………..if they were doing their jobs with impartiality, they would not need to fear…….but what goes around, comes around.

    Hey Maureen…..a woman named Mia Amor Mottley is the Prime Minister and she won all 30 seats.Ha ha!


  42. @ T.Inniss

    No need to fear about let down, the DLP gone with the rope


  43. All them contracts and concessions, with Caswell’s knowledge of government procedures, gine get unpick.


  44. @Prodigal Son June 2, 2018 4:23 PM

    CBC soon privatized, problem solved.


  45. “Our own Jeff C. should also be appointed by the GG as an Independent senator.”

    I second that Miller.

  46. Fractured BLP Avatar

    All of this

    Is Mia’s Fault = I M F


  47. COW, Baloney, Big Sinck, Robinson, Eastwitch et al must be fuming now … 🙂


  48. lol…out for good, next…..investigation into theft, money laundering, fraud and giving away what belongs taxpayers and pensioners.

    No more dems…hahaha.

    Finally dissolved in acid.


  49. Bushman…they will not admit that burying their pitchfork did them in..lol

    They still can’t explain why they would bury the thing at the Garrison..

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