Government Moves Full Steam Ahead with the Debt Holder (Approval of Debt Restructuring) Bill, 2018

OBJECTS AND REASONS

 

 

This Bill would provide for

  1. (a)  certain individuals and institutions holding treasury bills, treasury notes and debentures issued or guaranteed by the Government of Barbados; and
  2. (b)  certain individuals and institutions holding certain other Barbados dollar denominated debt instruments incurred or guaranteed by the Government, state owned enterprises or Government supported entities,

to facilitate the restructuring of those instruments through the voting process set out in this Act and to bind all the affected creditors to the terms of the comprehensive debt restructuring proposals where a specified super majority of those creditors approve the proposals.

147 thoughts on “Government Moves Full Steam Ahead with the Debt Holder (Approval of Debt Restructuring) Bill, 2018


  1. @ Tron

    heheheheheheh

    That is a beautiful find Tron

    It almost sounds like the EZ Cricket Board game that Dr. Basil Springer (and his faithful cohort of cuntsultants of whom Jeremy “de Moolah” Stephens was one) was able to secure (nearly said fleece) the Late David Thompson of $1 million ) for the late James Corbin’s game.

    Wunna see why we cannot go anywhere with these pretenders as Thought Leaders and Change Management Cuntsultants?

    I dont know how to say this Tron

    Any man or woman who wants to be a Thought Leader in Barbados should be able to submit an application fot that job and receive a contract for providing said services REPLETE WITH AN AGREEMENT PROTECTING HIS?HER COPYRIGHT & INTELLECTUAL PROPERTY signed my Prime Minister Mia Mottley.

    That agreement shall stipulate who get paid what ONLY WHEN THE PROJECT REALISES AGREED DELIVERABLES.

    For said same agreement the Government of Barbados shall place a non revocable security of US $ in an international organisation of international repute equal to the value of the contract (but such shall not include the profit sharing modalities that this innovation consultant will be entitled to from the initiative(s)

    So any bajan who is up to this Stepping up to the Plough as the Honourable Blogmaster recently put it can come to the real operalization of these IDEAS 4 Barbados public relations shy$# that they have been broadcasting all over the place.

    SO Let me explain how this is going to work.

    I say to the GoB I can bring you US$100 million in 3 months.

    My fee for such monies shall be 10% of the monies secured for the longevity of the programme and all revenues generated by this programme shall pay me on such a scale of x dollars for x revenues and y dollars/% for the band of revenues above x etc.

    You feeling me Tron?

    You understand what this does?

    You immediately increase the # of people who are prepared to work on a performance basis.

    You immediately show up the snake oil salesmen and remora eels who are sucking the cuntry dry

    And you get people who are prepared to put their money where their mouth is.

    That is, of course, if you seriously want to include every bajan in sharing in the economic benefits or just want to divvy up the money using the many contracts awarded to one person as they are doing now for their beloved BLP supporters.


  2. @ pieceuhderockyeahright September 28, 2018 9:27 PM

    What about a Barbados – mod for the game and then offering it for free as download on the official BB gov and tourist page?


  3. After Mottley steals food off tge3 poor peoples table of Dominica she goes bold faced and use Dominica name as an example as to why the UN should help small island Nations
    This woman has no shame
    Mia really belives that the people of other small island nations are flooish and that she can use the UN as a begging bowl to rescue these nations
    The legitimacy of her begging for UN aid was lost when she used Dominica perils as aspringboard
    It was almost likened to a thief asking aid for the person from whom he stole
    What nerve


  4. Recently i was conversing with a person from a sister island and Mia name was mentioned
    This person was a die hard supporter of Mia and during the course of the conversation politics came up and surprisingly out if there mouth they said ” i dont like what she (Mia) is doing
    Mia has done some awful immoral actions all in the name of politics actions which have caused pain to the poor
    Now it behhooves me to hear Mia asking for aid for small island nations when she spared no anguish on fleecing a small island nation of its bread and butter


    • Again you have made the points many time although it has been repeatedly pointed out that Ross made the decision to move from Dominica and selected Barbados from others shortlisted. Move on!


  5. Yes David i heard the political propaganda to cover up Barbados actions
    But then again actions speak louder than words
    David do u agree


  6. If Mariposa, the former DLP-ministers, their families and courtesans plus 10,000 civil servants who think like Mariposa emigrated to Dominica, that would help Barbados a lot to fight overpopulation and admin overhead!

    The island Barbados cannot nourish so many retired DLP-ministers, judges, high bureaucrats and their families. They just sit around and are a very big human burden for the taxpayer. Since Old Barrow´s days the DLP was the party of food stamps, economic insanity and social entitlements. And that must stop now.

    PM MAM must act like a social Stalin and cut the pensions of said retired group.


  7. Mr Blogmaster, beyond your smackbupside the head to move on there is also the absurdity of equating an economic revenue bearing issue like Ross and its inherent complications (well ventilated) with a necessary plea for economic grants and relief from nature’s fury!

    This blogger is the lowest form of political sycophant ….the lap dog that sniffs and licks its master’s hand regardless of what said master does to others and never pays homage to others outside its homestead.

    A good dog if you are its master but a blasted noisy, stupid cur otherwise.


  8. Again you have made the points many time although it has been repeatedly pointed out that Ross made the decision to move from Dominica and selected Barbados from others shortlisted. Move on!(Quote)

    Absolutely nonsense. A deliberate misrepresentation. We just do not know.


  9. The mantra “shoo fly, don’t bother me” shows that Mariposa’s dropping are hitting the mark. For ten years we were subjected to an incessant though deserving attack on the DLP party.

    Indeed, the DLP and Mariposa would have preferred silence but the BU bloggers kept pointing out the error of their way and holding their feet to the fire.

    The shoe is now on the other foot; the heirs in waiting have ascended to the throne; the defenders and attackers of the government have exchanged roles; and those who would urge protest or seek commentary are now asking for silence.

    I hope she can withstand the caustic remarks of dpD et al and continue with her efforts. Mariposa, take the viciousness of the attacks as a measure of your success. Be noisy and “stupid”. Their task is to correct or agree with you, and not to silence you.

    A good dog if you are its master but an angry pit-bull otherwise.


  10. Hants

    Barbados’ Prime Minister, Mia Amor Mottley has made an impassioned appeal to the United Nations to aid the world’s small states deal with the worst effects climate change.(Quote)

    Begging is undignified. What we need are policies, brain power, thinking. We can start by looking at all the major hurricanes, typhoons, cyclones, storms over the last decade and seeing how different countries dealt with them, how they saved lives. Or, as is our tendency, we think God is a Bajan and would not let anything tragic happen to us? It is all going to end in tears.


  11. I believe if you ask for yourself (only) it is begging. If you ask for a multitude of others, then you are helping to create policy. You are strategizing, prime ministering …………


  12. So charities (asking)for multitudes are strategizing
    So then when does that strategy stop or have a cut off point
    Or is the strategy allowed to continue like a dripping pipe


  13. @ Hal Austin
    @ Mariposa

    Hal and Mariposa.

    The financial doldrums that the Demonic Labour Party left the country in, is an aggregate of 52 years of lack of vision.

    Independence from the UK was deemed to have solved our problems and we bajans felt and still do feel that we have the right mix for continued existence in a fast changing world.

    Walk with de ole man a likkle while through my tin foil covered head as I bring you the NEW Virtual Frontier

    Have any of you ever seen Google Earth? It is a virtual GIS experience that takes satellite imagery and shifts it into 3D renditions because of “ground-truthing” by Google vehicles all over the US (an in some parts of the rest of the world where google feels that it is financially viable to do so)

    So I now have the ability to “see” foreign landscapes without actually going there.

    Now for those of you who are unconvinced of the efficacy of this technology I urge you to take a look a

    https://youtu.be/XbnLkc6r3yc

    Not all of you will want to see this video because of its violence so here is the easy version to the Google Earth segment that is pertinent https://youtu.be/XbnLkc6r3yc?t=128

    What does all this mean?

    If I append immersive exosuits to these Virtual Experiences that are now all over the place we arrive at a place where Virtual Tourism is now available in my living room.

    And before anyone says dat de ole man foil is too tight

    “…Tampa Bay Buccaneers to use SIDEKIQ Virtual Reality training

    SIDEKIQ Challenge is a Virtual Reality based football training simulator for athletes that allows players and coaches to unlock the true potential and take their game to the next level. Users will have access to high level football training used by elite athletes on their mobile phones anytime, anywhere…”

    This is the future that is coming and which is already here.

    So Mottley’s wiggle room for propping up the single donkey economy of our “Sand Sea and Sun” paradis is considerably narrowed. because “we” never proactively diversified our economy.

    What Mottley is doing is looking for “pockets of under-subscribed funding” to assist in propping up”/developing the economy.

    And Hal, it is not begging because that is precisely the mandate of these agencies.

    Mariposa, your lot has made Barbados pariah for any and all conventional funding, Mottley is going places that wunnah, EVEN THOUGH TOLD, could never amass the brain power to court.

    Let me go further to show you how effing irrelevant many of our institutions that are entrenched in these ole ways, are becoming.

    For example the waste foop Cosacap which its heads believe that they got everything tied down with

    “…Spotify for Artists – Spotify to allow artists to upload …

    Spotify has announced changes to their Spotify for Artists service that could have a major impact on their platform and the industry at-large. Currently artists must go through a third-party service like Noname in order to upload music to Spotify…”

    You feeling me?

    De grandson could build a Spotify store on to any and all Bajann artiste, en masse, and make Cosacap a ting of de past.

    We have become the do-do bird, locked in our special version of Time Tunnel 1966, with a succession of governments that have, and continue relentlessly to contribute to our collective demise.

    And hate AND SEEK TO DESTROY ALL CONTRARY OPINION.


  14. Actually I will side with Mia on this one, the industrialized countries with their myriad smoke stacks and greenhouse gases and metric tons of air pollutants are directly responsible for polluting the atmosphere on earth ….and are the drivers of climate change..negatively impacting small islands…AND even the same industrial countries themselves ..

    So..you break it…you buy it…they need to put money into the destruction they caused and compensate the countries and island impacted due to their greed, carelessness and callous disregard for life.


  15. Tell Mia to start cleaning up the Graeme Hall Swamp where daily deluge of pollutants coming from the sewer plant enter and destroy one of natures natural habitat
    Actions speak louder than words


  16. https://www.ft.com/content/05718380-2df4-11e4-b330-00144feabdc0
    Elliott Management won against Argentina by using a common pari passu clause

    https://qz.com/1001650/hedge-fund-billionaire-paul-singers-ruthless-strategies-include-bullying-ceos-suing-governments-and-seizing-their-navys-ships/
    Singer, who took home $400 million last year, makes his fortune through activist investing. While other investors are content to buy shares or bonds, and wait for them to accumulate value, Elliott Management, which oversees almost $33 billion, specializes in taking stakes in companies or institutions where it can shape the outcome. That can include agitating for changes in leadership, or spending years and million of dollars in court pursuing its interests.


  17. “So..you break it…you buy it…” (meanwhile) places all over the world, void of any meaningful production, are IMPORTING all the consumables the producers offer, in their over-packaged, non degradable format, thereby supporting the pollution produced and creating for themselves a garbage problem. In some places, the mantra seems to be, when in doubt…pelt it in the sea or the lake. Buyer beware. And yes we have a choice. And yes governments can impose excessive taxes on products which they deem harmful, whether the product, the packaging or the manufacturing methods.


  18. @Guest
    from experience, Elliott is not one to mess with. Very low key and secretive, but they tend to hit hard when they do.


  19. Hopefully they are holding Barbados debt in their portfolio – the GoB approach to debt restructuring ought to be tested by someone the GoB cannot bully.


  20. If the local debt holders are expected to carry most of the burden of restructuring while the criminals, public servants and politicians that caused the situation walk away with more money, they should pay the debt holders and devalue the BD$ if that is what they are bluffing us with.


  21. This scam to deprive the debt holders of their income in just a money grab. This is the same approach that is used by a government when attempting to exert more control over a country – it is like Trump with immigration. Things are bad so the GoB can do anything and anyone opposing it is unpatriotic.


  22. The only thing missing is some sweetheart deals on the sale of GoB assets to friends, family and associates – BLP + DLP + Swine + BLP + DLP + Swine + BLP + DLP + Swine = Swine x 9


  23. ” (meanwhile) places all over the world, void of any meaningful production, are IMPORTING all the consumables the producers offer, in their over-packaged, non degradable format, thereby supporting the pollution produced and creating for themselves a garbage problem.”

    Glad you understand that small island and other governments CHOOSE to sign on to these treaties to IMPORT garbage that helps drive the pollution that helps drive climate change, that must be the only treaties islands like Barbados ENFORCE…importing garbade that causes their own destruction..

    All other treaties, conventions etc as they pertain to the majority population’s human rights that they sign on to are NEVER ENFORCED….and are ALL ignored and violated by Barbados governments..

    I wonder if they understand that yet…ah wonder if they know that they will be called to account for those vile practices..


  24. Wel Well now the bond holder will be paying off most of govt debt
    While Mia exercised her right as PM in the first two days to give tax cheaters a windfall in the billions of dollars
    So much for the voice of the people
    Maybe Mia could call on her father and all those to whom she eagerly extended generosity in the form of tax waivers to exercised their rights as a patriotic citizens and give back their millions in tax breaks to help save the country economy


  25. Cant blame the bank
    A corporation has a right by law to recoup its losses
    Unfortunately because of govt default all must pay or the alternative can cause tremendous losses witnessing the collapse of an entire banking system along with the economy
    What we are now seeing is the shaping of a frontal trough which would slowly developed into a full blown hurricane sweeping the whole country and wiping barbados off the map
    This small population cannot all by itself withstand the windgust in form of taxation furthermore the howling hurricane forced economic winds which would engulfed the country
    Gid help us all


  26. @ Piece

    I have repeatedly said that when all the shouting is done, we cannot produce a 2018 model car on a 1918 production line.
    It is obvious that we are mortally afraid, to abandon both an economic and educational model, that can no longer carry the country forward.
    We talk about poor service and red tape but we want to eliminate them within the same system and using the exact models that created them.
    We know that the country floods quickly because we simply have exceptionally poor drainage. Rather than invest in modern equipment and build new drainage facilities, we think about increasing technocrats and finding “food” for those whose larders (pantries) are already full. Constantly traking back in time.
    Our water problems could be solved if we bring in modern day problem solvers from countries that were able to use technology in real time, to manage their water resources.
    So here we are still battling with trying to keep a few dollars in so- called foreign reserves to buy goods and services that we dont need.
    In other words an entire country must now pay the price because we are afraid to lick up the retail parasites.
    Now we must sit and wait on 2033 to arrive when this new Barbados will emerge debt free.The pensioners and those who are now being slaughtered would be way too old to enjoy their hard earned nest eggs or would be pushing daisies .
    That is the future because we want to live in the past.
    Where there is no vision both people and progressive ideas perish. Soon from now, we will have our cars washed by graduates of Cave Hill. We will boast that we have the best educated car washers with a piece of cloth , some water and a bucket.
    While our “educated” car washers are walking about with skillets and rags , somebody will be operating a fully modernized , computer controlled car wash somewhere in Warrens , that will wash our cars in two minutes flat.
    In the meantime the well educated hand washer will be sitting down under a tree wondering why even with a degree , he can’t get no real business.
    He should then call Beckles , Arthur and asked: Why did you not think of everybody in de house working rather than everybody in de house with a degree? Why you did not look at what the country needed rather than what you wanted.
    And by the way the person running the gas at the service station will be about to get a PhD in something called the philosophy of economics.
    Of course underwritten by the pensioners who died penniless. It’s 2033 ……….


  27. “That is the future because we want to live in the past.”

    More the reason to sever the Mia government from the Parliament completely and permanently come next election…

    If she and her ministers and hangers on for lawyers she got drafting legislation want to continue living in the past in collusion with their minority masters/crooks…let them do so on their own time and on their own or on someone else’s dime, but the PEOPLE should not allow them to continue using the majority population to live in the past at the people’s expense…anymore..

    No more…put a permanent end to that scam.


  28. @ William Skinner

    William

    You said and I quote “…I have repeatedly said that when all the shouting is done, we cannot produce a 2018 model car on a 1918 production line…”

    The imagery is poignant and spot on.

    A “New wine in old vessels” parallelism that is timely, timeless and top notch.

    When God let the Israelites wander in the wilderness, He did it for 40 years “so that all of the seed of the indolent and the unbelievers would die out during that period”.

    Now that particular accommodation comes to mind because you go on to say “… It is obvious that we are mortally afraid, to abandon both an economic and educational model, that can no longer carry the country forward….”

    William, barring killing out our own set of “indolent” in a purge, like a modern day Night of the Long Knives, a la Chairman Mia and her incoming 1933 Enablement Act, what do you suggest is the required equivalent that will not get our lazy assed bajans?

    Certainly such might galvanize of Commissioner of Police up and running around barbados looking for murderers? Cause, based on his published statements, he certainly in never moved to investigate any crimes particularly as it relates to looking for people who Bribe former Ministers!!!

    Ooops that bribibin is not a crime and it has yet to be reported to him, I sorry

    A fellow sent this url to the grandson last week

    http://online.nextflipbook.com/dowg/34qk/

    The granson was fascinated by its format.

    I was moreso interested because of its applicability as a national driving mechanism for any sector, for any Small island Developing State, that has a national hero

    The grandson said that the email auth is BIMteifs@gmail.com NOTHING ELSE and hit enter

    Unfortunately, your observation while true, DO NOT ACCOUNT FOR THE FACT THAT A PRIME MINISTER’s cadre of contributors are only persons with adpose skills.

    So you have a number of choices William.

    1.you try to help (if dem ent jes like de udder set of mouf giants and like teifing your ideas WHAT A COINCIDENCE with the email)

    2.You show them to be stupid by replicating said concepts with more receptive jurisdictions (which brings them instant competition much like Ross University was teifed by Barbados according to Mariposa)

    3.Or you keep quiet and say nothing and let them walk all over you

    I is an ole man William so I gine do number heheheheheheheh


  29. @ the Honourable Blogmaster

    Your assistance please with an item here to Mr. William Skinner thank you

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