NIS Government Paper for Trash

Is it irrational for citizens of Barbados to lend their accumulated savings , gratuities and separation packages to the GoB? Based on GoB track record is it unreasonable to expect repayments of those loans? Would you prefer the citizens to buy imported luxury consumption goods with all their income?

 

 

The citizens now senior were making provisions for their old age. The interests payments were intended to augment their income /pensions and to educate their children.

 

 

Interest rates on GoB papers rarely exceed 7.5 % and they were down to 6% in the last 5 years,. It is a serious breach of contract for GoB to squander its reputation as a country which honours its debt obligations. It is going to be difficult to gain the confidence of lenders in the future. A very short sighted decision.it was to default.

Vincent Codrington

The blogmaster was reminded that the National Insurance Scheme is the holder of over 2.5 billion in government paper based on their website.

What does the restructure of government debt restructure for NIS and Central Bank of Barbados government holdings?

How will the reduction in investment income impact the fund’s capacity to deliver pensions to senior citizens?

Of greater concern is how will retirees negotiate the economic hurdles posed by the debt restructure because of what they thought was astutely investing in government paper to supplement retirement income. The reality however is that any investment carries risk, government paper is no exception.

 

http://www.nis.gov.bb/investments/

198 comments

  • David/BU

    How many times you will ask me the same thing over and over about the sale of assets,and how many times do I have to tell you that I was against the sale of the Hilton – just as I was against the sale of the BNB and ICBL.

    Liked by 1 person

  • “dumping state assets” assumes that there is a BUYER, not likely as most if not all Barbadian ASSETS come significant debts attached. Most Barbadian assets would be HARD TO GIVE AWAY as the benefactor would be saddled with the debt of the asset in a country that is sovereign default and a morass political structure, these are of course highly sought after investment criteria, ha, ha, ha…….

    Liked by 1 person

  • If you disagree with the dumping of state assets what is the plan? You realize your DLP soulmate is all for selling BNTCL and Hilton? Unfortunately there will be no quick fix. What can we learn from the Greece, Jamaica and Grenada austerity experience?

    Tell us!

    Liked by 1 person

  • TInniss
    A surplus of doctors and lawyers does not mean a surplus of skills. That’s what I mean by adopting an obsolescent, myopic view. You mean to tell me that doctors and lawyers can only work as doctors or lawyers? Using your previous and current arguments, why then did your government had a doctor chairing BTIi and lawyers at NCF and UDC.😂😂😂 Surely, doctors branching out into pharmaceuticals would definitely make more sense than manufacturing cell phones in Bim in a climate of more and more automation and where labour costs in Bim can’t compete. Additionally, expanding (Belleville) and creating other medical clusters providing a wide range of medical and paramedical services wouldn’t make more sense too? How do we utilise this “surplus” to extract value from Jonesing medical school, Ross or the others? Now I am being accused of washing Justin Robinson in cuss. #jesustakedewheel

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  • Truth will set you Free

    @ T. Inniss

    Let these jackasses know you can only speak for yourself and not what actions either the DLP or BLP do or don’t do.

    There is so much ignorance in Barbados because you may have opposite views to a Political party that you have alleged to be tied to whatever policy or action they undertake you must be tarred with the same brush and put you in a box.

    Barbados is a failed island

    Liked by 1 person

  • Truth will set you free.

    You have spoken some powerful truths there.That is why I refrain from engaging too much because of the false accusations that are made against you and the speculations about your positions – of which they have no clue.

    But thanks anyway for the support.

    Liked by 1 person

  • You received a good out from answering valid questions. Here is the bottomline, the DLP had 10 years at the helm to turn things around and they failed. If you have suggestion be prepared for others to probe wand IF you are serious you should be prepared to defend your position.

    #simple

    Liked by 1 person

  • Enuff September 30, 2018 8:23 PM

    re You mean to tell me that doctors and lawyers can only work as doctors or lawyers?

    YOU MIGHT BE SURPRISED HOW MANY FOLK THINK SO
    ALTHOUGH SOME DOCTORS CAN ONLY DOCTOR

    RE Surely, doctors branching out into pharmaceuticals would definitely make …….. sense BUT SOME BARELY GOT THRU THEIR PHARM EXAMS…………AND PHARMACEUTICALS IS AN EXPENSIVE AND COMPLICATED ENDEAVOR ….MANY SPECIAL DRS CANT HANDLE THE ORGANIC CHEMISTRY NEEDED

    RE Additionally, expanding (Belleville) and creating other medical clusters providing a wide range of medical and paramedical services wouldn’t make more sense too?HOW MANY MORE CLUSTERS DO YOU NEED ? AT WHAT COST TO THE PATIENTS?

    DO WE NEED THIS OR BETTER SERVICE OR PROMPT SERVICE

    RE How do we utilise this “surplus” to extract value from Jonesing medical school, Ross or the others? DONT GO THERE AT ALL SIR! NOT AT ALL.
    THOSE STUDENTS ARE TRAINED DIFFERENTLY AND WONT FIT INTO OUR SYSTEM JUST SO

    PLUS WE HAVE OUR OWN WELL AND TRAINED DRS UNEMPLOYED OR WORKING WITHOUT PAY IN SOME CASES JUST TO GET THE FINAL ASPECTS OF THEIR TRAINING COMPLETED

    Liked by 1 person

  • david, what i believe the lesson of greece is that when your debts get nose-bleed high, and you don’t devalue your currency you subject yourself to many years of poverty, asset sales, no progress and you still get left with a debt you can’t repay. the greek economic formula was for many years for politicians to promise greeks state jobs where you didn’t have to work, retirement benefits that started just after birth, and a lenient tax collection system to pay for it all. does that sound familiar? and that worked, because they gave with one hand and took through devaluation with the other. same as spain, italy, portugal. the problem came for greece when they joined the euro and couldn’t devalue any longer, and germany made them repay all of the loans that they had taken from german banks in full. again i suspect we have a similar problem developing. there is little talk about the “haircut” USD bondholders will accept. i suspect they will hold out/fight for no haircut at all. we are in for a very very long hall, with local citizens, who mostly did nothing wrong, paying a very high price and still having little to show for it except a dollar still tied to a currency that is pricing us out of the international market. we could repay all the local bonds and pay all local suppliers by printing more money. essentially thats what inflation is, borrow today and pay back with less real money in the future. but we would have to give up the peg. something that apparently is not up for debate as “no-one wants that”. i would like to hear the reasons why this path is right and devaluation is wrong. with a floating currency you can at least get a real-time idea of how the world sees your policies, what we have is a pretend land for many years and then suddenly a wake-up call that catches most people by surprise, which do we prefer?

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  • RE If you have suggestion be prepared for others to probe wand IF you are serious you should be prepared to defend your position. USUALLY BY FOLK THAT KNOW MUCH LESS THAN YOU DO ABOUT YOUR AREA OF EXPERTISE

    ON BU IT IS CALLED CHALLENGING BUT IT CAN MAKE GOOD ENTERTAINMENT

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  • @BA

    Are you focussed on the symptom?

    Greece economic crisis was triggered by its debt burden which was trigged by the depression of the 80s. This is well documented. What is also known is the fault lines in the economy that were not addressed. Why were the economic issues not addressed at the early stage? Is the story familiar?

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  • lets assume that we are greece waiting to happen. what should we do now having seen their path and outcomes?

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  • David how many times u going to repeat that govt had ten years of governance
    Yes it is a fact
    Also what is a fact that Mia and her crew along with Commissiong spent the better part of that 10 years taking govt to court for every dam policy govt plan to initiate
    Any how Mottley was giving a chance to make better and after getting the chance her first planned /policy was to threw the whole country under the bus with a default and rewarded her friends and associates with jobs along with giving tax cheaters more than a billion dollars in reward
    Afterwhich she has turned to investors of govt paper to take ownership of govt debt
    You and the other blp yardfiwls are dellusional beliving that Mia planned policies on lies and deception are going to be accepted by the people long term
    The people eyes are beginning to open and Mia transporting the whole country to the IMF under a pretense that past govt put country in debt not going to wash

    Liked by 1 person

  • @BA

    Do you think this is a question the social partnership has considered?

    We have outsourced most of our GDP to entities that are non Bajan. The motive is always about ROI/ROE.

    What we need to pull out us out are for ALL stakeholders commit to making the ultimate sacrifice. Will the non Bajan ownership of capital cooperate?

    The blogmaster is willing to bet many of the profitable foreign companies operating in Barbados will leave tomorrow if it were possible.

    Local policy formulation is unfortunately outsourced.The future looks bleak, however the blogmaster is willing to be proved wrong.

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  • while i agree that many foreign owned companies would leave tomorrow i disagree with the word profitable. it is about roi and barbados doesn’t provide them with a risk adjusted return compared to what they can get elsewhere. and the better the rest of the world does the bigger our problem becomes. shell left, texaco left, barclays left etc. i suspect every foreign bank would like to leave. the ones that haven’t cant. first caribbean tried an ipo that failed. digicel tried an ipo that failed. far less sell to a local competitor who obviously knows better, they cant even sell to some fool in new york who has more others people money than sense. they cant get out. but on a small island (and the entire caribbean) where natural disasters are a real threat, with poor government, currencies that you cant easily trade, illiquid stock markets, why would you stay. when the region was growing and providing high roi, they put up with the shit, but now that the problems remain or are worse, but the roi is lower than those of developed markets why would anyone in their right mind move money from a hard currency thats invested in a stable economy into barbados. my question is really is devaluation not a real option?

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  • Let us understand your point. You are saying that with a junk rating as at today currently in SD, risk adjusted returns is not a factor for businesses operating in Barbados?

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  • bajans September 30, 2018 5:49 PMTheir first priority is to remove squatters from government land and even demolish their houses. ???—@@@
    First of all none of the land you talk about belongs to the government DLP nor BBLP. Even if to move them where will they go?
    2nd NHC don’t even own where they collect rent from government action as landlords with no land,
    3rd All so-called government land belong to Beatrice Henry to Violet Beckles to their Hier holding title deed for names of Plantations you know nothing about nor can find in any government history books,
    4th, Even where you live you need to check for Clear Title coming from us North you would then or should know the laws in buying land and house,??
    5. The last number on this listing last row ‘ Real Estate at $309,412,358 is a Fraud and proof of land fraud and Ponzi shifting numbers games, for We assure you this or any government after Nov 29,1966 can show a deed for whatever value they place on their records location show a Pure title deeds, Where none can be sold in case of emergency ,
    So whatever you wrote above is based on many years of lies planted in your head, Educate yourself when dealing anything dealing or dong with land in Barbados,
    6, Up to 300 Plantation we claim with proof of records these government erase never think they would be caught,
    7. IDB, IMF , WB will never support funding fraud and PONZI on any level, that is law, something Barbados government lack.
    8. So let your Crime Minister Mia the Crook Mottley run to Brooklyn begging for money and the UN, They can see her better than most, They know before you do they have the Numbers and reports and more to come soon,
    9, 6 billion missing and taken and laundered by the BLP and 9 Billon by the DLP and the IMF loan them only 290 million to keep foreign reserves to a hold, No money for the crook to take the Ponzi is over also with CLICO has no land holdings they can sell to give back the investors, These crooks in office shall see jail in the next elections, by Due Process and Rule of Law. They can’t run and hide in office forever they Bajans removed 30 and 30 more to go. Next just past We are NOW,

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  • the opposite. returns are very poor given the risks, well they are poor by any measure, but very poor considering the risk. i dont blame anyone not wanting to bring hard currency here. how do we get from here? or assuming we found the way fund it? or is greece for the last 10 years our future?

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  • Yes, Barbados is a failed country. It is part of the failed world.

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  • NorthernObserver

    WHO is on the NIS Board? WHO replaces Carrington as head executive?

    I rarely agree with T.Innis, but what claims to Chairmanship or leadership of a body as complex and important as the NIS does Mr. G-E have? Being the BEC rep on the last Board is not a ringing endorsement. This has a very smelly political odour. This is a more important role than most Ministerial appointments. And this AP is showing up in too many significant roles, a little separation is a good thing, especially in Financial related roles.

    The last Board was a monumental failure, largely I believe, because of persistent political interference. This new one, at least the reported lead directors, is set up for a similar potential failure.

    Liked by 1 person

  • NorthernObserver

    Old Board
    Dr. Justin Robinson, Chairman
    Mr. Wismar Greaves, Deputy Chairman
    Mr. Martin DaSilva, Member
    Mr. Ian Gooding-Edghill, representative of the Barbados Employers’ Confederation
    Mr. Colin Jordan, representative of the Barbados Hotel and Tourism Association
    Mr. Victor Felix, Chief Labour Officer (Ag.)
    Ms. Avonda Carrington, nominee of the Director of Finance and Economic Affairs
    Ms. Roslyn Smith, General Secretary, National Union of Public Workers
    Ms. Toni Moore, General Secretary, Barbados Workers’ Union

    Sooooo
    The former BHT rep Jordan, is now the Minister in Charge
    The former BEC rep Gooding-Edehill, (successful BLP candidate in 2018 election) is now Chairman.
    Persaud replaces Greaves as Deputy
    Lawyer Haynes replaces DaSilva as member.
    and we await the other 6 who are nominees as shown above.

    Remind me….is this the Board of Barbados Hotel and Tourism or the NIS?

    Shows the PM is clearly NOT SERIOUS about having the NIS as anything but a continued long arm of the MoF. Pure patronage. After 12 long years of NO Annual Reports and this is the best she can do?

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  • Truth will set you Free

    To effectively control a nation, allow them a little hope by offering them a choice of which of your two parties they would like to submit their will to.
    Encourage debate only within the limited scope of the two party system. They will keep going around in circles, arguing between themselves while you implement your agenda regardless of which party is in power.

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  • Is that the same Leslie Haynes? Mia actually put Leslie Haynes to sit on the Board at NIS …really, despite the destruction he wrought on policyholders while sitting on the Board at Clico…will this assault by criminals and abusers for lawyers on the people never end..

    So what about all the CGI personal injury cases he maliciously tied up in the Supreme Court for years and years, when will that deliberately created backlog of civil cases be resolved and removed from the system,…to free up the court.

    Well…he was aiming to be a Judge, thirsty even, to further foul up and corrupt the Supreme Court Bench with his nasty unethical self…ah guess that one was a bridge too far and complicated and frightening, even for Mia…given there are those waiting to see if she was crazy enough.

    So let’s see what corruption he causes at NIS, the elderly dont stand a chance with that vile creature…particularly him, because that is all he knows.

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  • Northern Observer

    Your observation @ 2:51 a.m. is exactly what I am talking about.

    Mia is so dangerous and will wreck havoc on this country just as Owen Arthur told us,but by the time her operatives start to see the light it will be – “too late,too late shall be the cry”.

    There is the old saying – be careful what you wish for people.

    I for one am prepared to support any govt BLP or DLP – once they operate with some level of integrity – but that seems to be a scarce commodity among politicians.

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  • All in legal circles and outside legal circles know leslie Haynes is a nasty piece of work and there have been charges that he treats his staff horribly.

    Everyone also knows that the Mottley’s (parents not elombe) track record of paying their debt is extremely poor.The matter of the waiver for a million dollars that Owen Arthur spoke to before the last election is just one such example.

    Politics and law seem to be the last refuge of scoundrels so I suppose I should not hanker so much after integrity where politicians and lawyers are concerned.

    I am waiting and watching to see if Mia will clean up the situation with the Bar Association and those dishonest lawyers.Matters such as lawyers taking clients funds and putting it in their own accounts.Matters such as that involving George Payne and Dale Marshall etc.

    Like I have said so many times before,I was really hoping Mia would have decided to operate contrary to her past established practice – but the signals she has sent by the decisions she has made so far has shown me clearly that she will use this unusual electoral victory for her good and not for the good of the county.

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  • We need to encourage people to understand something, it is a given that if you make it past childhood, past early adulthood, past middle age …which starts at age 35…., ya may very well make it into OLD AGE…becoming one of the elderly senior citizens…..

    You have a government in place with a 52 year old HISTORY. …of ABUSING the elderly, for their own SELF ENRICHMENT, their operating methods of cruelty and criminality against the elderly are passed down from generation to generation of lawyers at the Bar Association who protect each other in these crimes…

    ….the many lawyers in their midst polluting the vipers nest for a parliament see absolutely wrong with abusing the elderly, robbing them everything they worked hard to accumulate over their lifetimes, robbing their beneficiaries their inheritances….and leaving the elderly to die in the most horrible conditions these lawyers dream up, this means as much to them only as it pertains to them being successful in these crimes against the elderly..

    It’s not like it is a secret, it is a horribly well known fact, they do it to their own yardfowls and to the surviving family members of their own deceased former MPs…fellow parliamentarians..ANYONE.

    …….no one is safe from becoming VICTIMS of the outright thievery of the lawyers in Bar Association and the lawyers in AND out of parliament AND the Judges so inclined in the Supreme Court…etc.

    So if no one is safe, it means that YOU AND FUTURE GENERATIONS of people who will eventually morph into becoming the elderly population on the island…..ARE NOT SAFE EITHER…not from this current lot of thieves in parliament, in the Bar Association, at the Supreme Court, the Judges on the Bench and their cockroach minority masters waiting for you to become elderly or die…to rip off your properties…YOU ARE NOT SAFE.

    Hence the reason come next election, it is vital and essential that the BLP political party be completely SEVERED from the parliament …..to PROTECT the current and future elderly from the theft and abuse by the lawyers sitting in Parliament. …because they will NEVER STOP abusing and robbing the elderly…it is their LARGEST SOURCE OF INCOME….and it is all they know.

    Everyone is at risk…even Enuff yardfowl..

    ….

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  • “All in legal circles and outside legal circles know leslie Haynes is a nasty piece of work and there have been charges that he treats his staff horribly.”

    I am told of one young one who thought himself to be a hotshot lawyer and vile abuser of injured people at the Supreme Court …coming out of Haynes’ office, learned well under Haynes..

    …he was especially horrible to the elderly who are injured, went out of his way to be vile….and specialized in tying up cases in the court indefinitely waiting for the injured to die…he just recently had to run away from it all and run to the corporate world ..

    …some are saying he met his match in an injured person whose case he maliciously tried to destroy so that CGI can avoid paying compensation…..as is their practice.

    These vile protege creature lawyers of Haynes’ must be identified AND stopped from polluting the Supreme Court whenever it is fixed.

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  • the many lawyers in their midst polluting the vipers nest for a parliament see absolutely NOTHING wrong with abusing the elderly

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  • @ BA September 30, 2018 9:30 PM

    Your analysis is 100% correct. The peg does not fit anymore. It was Barrow´s invention when he had too much rum at the beach in the 1970s. The Barbados Dollar must float.

    EITHER productivity increases (which is impossibly given the local circumstances)
    + cutting the bloated public service

    OR devaluation.

    You cannot have zero tropical work ethic, bloated public service and a strong currency at the same time.

    I mean, even the gov advisors with their limited intellectual capability must understand that. However, we all know that the gov will do everything to prolong the insane peg … and Barbados will go on sliding into the abyss … as predicted.

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  • The native gov advisors for the economy repeat the same categorical error every year. Bloated public service and a local currency which is too expensive.

    How long does it take these lads until they understand? I really begin to believe that they have some intellectual deficit or even more …

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  • @ Tron

    That is the choice we have …of the cliff …or the head-on crash.

    Either we crash into a wall that represents world class productivity and the associated meritocracy….
    …OR
    We continue off the devaluation cliff.

    Right now, six is half-dozen.
    The end result will still be grass.

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  • People have a legal right to recoup their govt paper before maturity
    If people are silly enough to buy the patriotic line of helping poor barbados
    Then they have no one else to blame when at maturity they receive nothing
    This govt has embarked the people on aggressive plans guided by one size fits all (policy) to pay international financial institutions for debt owed
    This govt has taken upon itself to push a plan before investors in a hurried way without investors having a chance to review with clear and precise understanding and legal guidance
    This govt owes debt which must be paid
    However not fair to asked those who put their life savings on hold for retirement age to wait another fifteen years to get their money at 1% interest which is the equivalent of peanuts when inflation cost is added
    This govt legacy would be one of suckerpunching the elderly to death all in the name of Patriotic duty

    Liked by 1 person

  • For those outside investors living in the diaspora email the central bank and give them your information requesting to cash in your instruments
    Read your agreement paper and if requested by govt for further information (do so )immediately
    The Govt loss should not be a loss at owners expense
    What nerve govt expecting retirees with a short life span to pull the debt laden basket at all cost in return for nothing

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  • The new NIS Board

    Chairman – Ian Gooding Edgehill (HR Manager and MP for st Michael west central)

    Deputy Chairman – Leslie Haynes (lawyer,former member of Clico Board during these failed annuities policies etc)

    Other Board Members

    The Director of Finance – Ian Carrington – former head of the NIS under the last regime and who presided over the bad investment decisions

    Representative from the BHTA – (an organization presided over by a former BLP candidate for Christ church east central Rudy Grant ,this organisation has been openly supportive of the BLP – its former head was Noel Lynch former BLP Member of Parliament for St Michael South)

    Representative from the BWU – Toni Moore – another of Mia’s foot soldier

    Representative of the BEC – Another BLP playground frequented by the likes of Charles Herbert,Allan Fields,Bizzy etc

    The chief Labour Officer and the permanent secretary in Finance or their nominee.

    SO OUT OF A TOTAL OF 8 BOARD MEMBERS – 6 OF THEM ARE ALL SUPPORTERS OF THE BLP.SO MIA HAS THIS THING ALREADY SEWN UP.

    IT WILL ONLY BE A CASE OF YES SIR,YES SIR – HOW HIGH SIR?

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  • millertheanunnaki

    @ T.Inniss October 1, 2018 6:34 AM
    Politics and law seem to be the last refuge of scoundrels so I suppose I should not hanker so much after integrity where politicians and lawyers are concerned.

    I am waiting and watching to see if Mia will clean up the situation with the Bar Association and those dishonest lawyers.Matters such as lawyers taking clients funds and putting it in their own accounts.Matters such as that involving George Payne and Dale Marshall etc.”
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    If only you would be a ‘bit’ more exhaustively even handed in the examples which you take great pleasure in referencing in support of your now well-established political bias!

    Why only the cases of GP & DM based merely on speculation and allegations?
    Why not also the evidentially proven crooks like Carrington and Pornville?

    How about including in your catch-all category the likes of Byer, Gollop and Yearwood who made their millions only through the craft of nepotism and not by way of any keen knowledge and expertise in the art of Law?

    BTW, the same OSA is today deeply regretting being used (for the second time) by that bunch of deceitful lying posse of DLP “wild boys”.

    After trying to sell MAM to Fumble- by way of a note of backstabbing passed under the parliamentary debating table and was subsequently ‘outed’ for his treachery and denuded on the political platform- so too would the same crooked lawyers be taking him to the cleaners for making the grave mistake of being used and abused twice in his game of political vindictiveness.

    Why do you think that MAM is not lifting a finger against the same known cabal of ‘lawyer crooks’ by attempting to at least recoup some of the millions taken by way of nepotism from the taxpayers’ pockets?

    Karma is a truly loyal bitch, and like your DLP, the now tarnished OSA legacy is more than passé.

    The fumbling king Stuart and his financial idiot savant in decimals Sinckler ought to be knighted by MAM.

    This would represent the ultimate sign of political gratitude to the Machiavellian clown prince Don Quixote and his Sancho Panza sidekick Big Sinck who- through their sheer political madness and abject incompetence- made a political Queen of Hearts out of a common sweet-talking bullshitter.

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  • Barbados had every opportunity during the past years between all govts to put barbados on a growth path of stability
    Rather than do (so )embarked on a path of high borrowing and out of control spending and wastage without having no growth or productive plan which is commensurate to buliding and sustaining an economy
    One will be remiss not to throw mind back to the years of plenty under the blp govt years of opportuinty tantamount to guiding and building barbados on a path for economic long term stability was left to chance
    A chance which has now materialized into leaving barbados like beggars at the front door of the. IMF and barbadians looking down a road of pain and suffering

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  • After drinking the koolaid for better
    Peoples lives will be slowly turn apart because of bitter policies by this govt
    Unemployment will increase
    Fees will increase while social services decrease
    Retirement age will move upward as govt figures out a plan to repay employees who have paid into thebNIS system
    Crime definitely will be hard to keep under control as drug activity becomes a place to derive monetary funding for the unemployed
    The State of barbados will quickly deteriorate under this govt
    Having no plan before election will be the result of all the mentioned above

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  • Maroposa…yall done know that DLP is NOT going back in that parliament to create more havoc and destruction in the lives of Bajans in the majority population right.

    … the current challenge is getting their sidekicks now squatting in the parliament OUT…to put a permanent end to the crimes committed against the majority population AND the country..over the decades.

    Don’t know if yall recognize it, but the only way that could occur was to sever DLP…..

    ….since there was no one else worth electing…AND to finally rid the island of BLP…they had to be elected last May……the only way they too could be permanently SEVERED out of the lives of the people.

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  • @Tron

    “How long does it take these lads until they understand?”

    Based ont PAST POLITICAL HISTORY a dose of “lead posioning” maybe the only solution, however administered. The Borg keep bringing up education, however this approach has been shown as a TOTAL FAILURE.

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  • Greece economic crisis was triggered by its debt burden which was trigged by the depression of the 80s. This is well documented. What is also known is the fault lines in the economy that were not addressed. Why were the economic issues not addressed at the early stage? Is the story familiar?(Quote)

    Where is this economic illiteracy well documented. This is another example of the Google school of learning. Where is the so-called evidence.

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  • @ Mariposa October 1, 2018 8:47 AM

    And? What is the problem with such outfall?

    The population, the clueless, arrogant “educated” masses wanted it so when they voted twice for the DLP in 2008 and 2013. Everybody who voted for the DLP in 2008 and/or 2013 deserves personal insolvency, a deep cut of salary/pension, devaluation and much more.

    Or should I repeat? YOUR voters deserve no better.

    Just look at the old videos when the masses applauded Big Sinck before the elections in 2013. Then you know that the (former) voters of the DLP have not reached the stage of civilization yet.

    Now it is too late to regret. The damage is done. Just wait Mariposa until the international creditors screw up Barbados. They are no light-minded local fellas …

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  • millertheanunnaki

    @Tron October 1, 2018 8:13 AM
    “The native gov advisors for the economy repeat the same categorical error every year. Bloated public service and a local currency which is too expensive.
    How long does it take these lads until they understand? I really begin to believe that they have some intellectual deficit or even more …”
    ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    “These lads” are just playing for time.

    The current guv of the Central Bank who is nothing more than a polished-over version of the same old technocratic furniture which played an integral role in pushing Barbados further into its current state of financial and economic quagmire.

    Do you remember the many repeated promises of foreign reserves Salvation through the sale of state-owned assets to foreigners and the much anticipated Foreign Direct Investment in the form of Hyatt and the sale of the Four Seasons?

    Will the guv be giving a report this October on the state of the foreign reserves for the third quarter 2018?

    Now that the BNTCL and Hilton sales seem to have been swept under the carpet of foreign reserves salvation is the rebooted robot going to pin his hopes on the same Hyatt and Four Seasons?
    What hope of forex salvation would he be seeking this time around other than an expectation of a US $49 million injection from the IMF to support the country’s balance of payments in order to allow Bajans to import the usual crap for Xmas including plastic toys, bottled water, smart phones and SUV’s for the spoilt brats and Mercedes Benz for the corporate leeches and public sector top-class parasites?

    Why is there still a dark veil of dank secrecy regarding the status of the Four Seasons sale and the source of funds for the Hyatt?

    The official Devaluation of the Bajan Mickey Mouse dollar needed to inject a shot of reality in its value is the only meaningful salvation for the Bajan economy and, by extension, its society.

    The longer the decision taken to apply this mandatory injection of economic reality leading to possible recovery, the nearer the approach of the necrosis of the economy.

    Like

  • Miller,

    The “Four Season” is the best example what went wrong. I used to go to the beach there many years ago. And now everything is screwed up with some ruins. Paradise destroyed.

    You also mention the account of FX. Well, I want to see a proper account which also includes all obligations to pay in forex for 2018, 2019, 2020 and so on. The IMF loan and the other new loans of forex even put more pressure on Barbados since these loans need to be repaid BESIDE the existing forex loans. In other words, the debt in forex is growing and growing …

    Or does anybody believe that the international creditors like CS Cayman will waive the obligation? All they will do is accepting a cut of interest and some discount for immediate repayment before maturity date.

    Liked by 1 person

  • I have a question or two.

    Does any one care that the NIS is practically bust, more so now that the BBD Mickey mouse bonds have to be marked to haircut market?

    What is Ian Carrington’s claim to fame? Why is he an economic advisor to the government? Hasn’t he overseen the insolvency of the NIS? What can he possibly advise on?

    Liked by 1 person

  • A. Dullard,

    Let us talk about pensions and not about personalities. Where are our pensions specialists? I do not mean actuaries, who are just the engineers, they do not drive the engine. In anything, Charles Herbert has other things on his mind.
    First, let us look around the world at various pensions schemes and then decide what will fit best in Barbados. The problem with government by politicians is that they do not discuss ideas because they are not trained that way. They simply impose policies.
    We need a completely new pension system, but it is not discussed because the political elite do not understand pensions. Pensions is the gap in our public knowledge – just look at the way the insurance companies are managed.
    By the way, plse ask our minister of economic affairs and investments what are her views on pensions. Or, ask her economic consultants what advice they have given on pensions policy? Put that question to Professor Persaud, as he is the deputy chairman of the NIS. He is meant to be the ‘expert’.

    Like

  • Yes the dlp was thrown head and feet out of Parliament
    The people wanted change
    Don’t belive this is the kind of change they wanted
    Retirees being derived of their live savings to pay govt debt
    In the meanwhile non peforming govt assests like the Hilton are included in the govt debt which retirees must pay
    What a load of crap

    Like

  • government by lawyers…….

    Liked by 1 person

  • @TI 8.31am
    your info conflicts with BToday. They say IGE-Chair, APersaud-Deputy, LHaynes director….no mention is made of former lead executive IC as an appointee.

    I expect these positions to be ‘politically blessed’, as other board members are nominated by a myriad of different organizations.

    You will note that former Chair DrJR, remains on the Board of the Central Bank. Former lead executive Carrington is now Director of Finance and also on the Board of the CBB. So the two former NIS leads, Board and Executive, have been retained and in one case promoted. So how the ass did the NIS end up in the mess of pottage it finds itself, if both these persons did stellar jobs?

    Like

  • We will have all the experts turning up now after ten years and some months of believing LIES and not wanting to challenge the former government.

    Like

  • It is amazing how people do not want to lay down in the beds they made up. We have had some seniors in Barbados who help create the poor management and management systems that lead to where we are at the moment and do not want to accept what you sow you reap.

    Like

  • Northern Observer,

    Rotating mediocrity.

    Liked by 1 person

  • All tgem chairs but where are the cushions
    Nothing has been implemented to cushion Barbados fast economic freefall
    Today the IMF approves 290million debt swap
    So govt has swap 290million debt from one sets of bandits and handed it to another
    Hope govt is not entertaining any plans to extend the maturity of debt instruments for bond holders
    Which makes me wonder where is the shortfall of the repayment of debt due to external institutions coming from
    Giving thought to the fact that country will still be incurring debt debts which will be acquried while running the country.

    Like

  • Northern

    The director of finance sits on this new Board.This new Director of Finance is Ian Carrington – the former head of the National Insurance.

    Please read the Bdos Today article again.

    Like

  • Look at you roverp – you got tired of writing this crap on Bdos Today and you and people like Lorenzo come here to spit the same bile.

    How much lower can you go when you can blame our seniors (who have laid the path for people like you) – for seeking to use their investment to look after themselves rather than depend on govt.

    That BLP koolaid is going to slow poison some of you all.

    Liked by 1 person

  • Sorry ! But have to give credit where credit is due
    Even when my utterances annoyed many on BU all meant to be for the good
    By read of local newspaper i am very pleased to read that Mottley has plans in mind to have pre planning exercises and more education on preventive measures for the people in flood torn areas
    Govt role is to lead and direct people towards safety
    It doesnt cost much for govt to have preventive programs in place when weather related storms approach Education on a much higher level that focus on safety is sufficient

    Like

  • Warning,

    There is news about Lisinopril and its effects on black people. If you are taking this drug plse talk to your doctor.

    Like

  • @Hal

    Yes, pensions policy is enormously complex. But if a government can’t organise and manage a handful of labourers to cut grass on a stretch of road how can it effectively manage such complex issues?

    Beside the issue of square pegs in round holes there is also the problem of unwillingness to call in the required expertise when necessary. If the know-how is not available locally then one would assume that we would look externally. But then again that may expose our local gurus and shed too much light on proceedings.

    By the way, we don’t do bespoke solutions in Barbados. If it cannot be copied and pasted from the US/ UK/ Canada then it is impossible and can’t be done.

    Like

  • The same IMF some said would never approve any loan to Bdos with free tertiary education, pay increase for public workers and increased pensions. Nuff wunna gine eat wunna words in the years ahead.

    Like

  • no T Inniss people like us want to know where you were before May 24th,when the try a thing Government which you obviously support,was killing people with taxes and you said nothing not even to offer all this new found advice to Mr sinckler or the ex PM.Therefore our position on you is that you are a Dem yardfowl and propogandist,who come to this blog,to mislead people,but,i will call you out ,wnenever you attempt to mislead people,you could like it or lump it.T Inniss you have at least 20 years to bellyache,based on your chosen leader and Deputy who cannot even win a seat far less a government.Off Topic,i wonder why Mr Ellis allows these Dems like the old returning national 20 minutes and more to talk so much rubbish,keep them short as their party was soundly rejected at the polls and few want to hear their diatribe.

    Like

  • Enuff…we don’t mind…as long as Mia pursues those in the last government and their minority masters who RIPPED OFF the taxpayers and pensioners …..AND recovers all the stolen money..

    Like

  • St Lucy is in trouble commissioner Ty P Griffith !

    Move out all those enablers at the Crab Hill police station and bring some fresh new cops with clean hands.

    One of Mia’s invitee to the opening of Parliament – her special friend – Lord Evil got Crab Hill on lock down.This cannot be allowed to continue TY P.

    I am waiting for Bounty’s turf in St Phillip to flare up soon – because after all their woman in charge now.

    Like

  • S. Dullard,

    I know pensions policy is complex. The Brits have been trying to sort out its problems for the last three decades, without any success. At one point we have a new pensions Act every year.
    I have mentioned two incidents here before and will again: the first was an email exchange with David Thompson who admitted the issue was outside his area of expertise and he passed it on to Dr Justin Robinson to deal. Justin was no better.
    The second was a meeting at the high commission in London attended by Kellman and Dr Robinson, I was making a number of points to Robinson, which he was not answering adequately when Kellman intervened. Much to my continuing embarrassment, I was so incensed, I shouted at him to shut up. I can give another example, but it may identify the civil servant concerned.
    However, we can buy in expertise

    Like

  • Why would the IMF. not approve a loan to countries in debt
    Afterall the IMF is a vollection agency with long strings attached in the eventful Govts like barbados default on repayment
    The cries of the seniors would continue as the austerity measures become harsh and unbearable

    Like

  • NorthernObserver

    @TI
    I stand corrected.
    Is one to assume only the BWU has a rep, and not the NUPW?

    Lets return to my original query……if both the former Chair and the CEO seem to on good footing, what does this tell us about the investment execution at the NIS? If neither the former Chair nor the CEO are held responsible for the consistent variation between the Investment PLAN and what the NIS ACTUALLY invested in, WHO is?

    Said variance occurred repeatedly, as noted by the Actuarial reviews. WHO had the power and influence to direct the actual purchase of investments by the NIS, when said purchases ran contrary to the Plan approved by NIS Board?

    Like

  • NorthernObserver

    @TI
    “Deputy Chairman – Leslie Haynes”….BT says Avinash Persaud….’while Professor Avinash Persaud will serve as deputy chairman.’

    Like

  • Northern Observer,

    What we want to know is: who is there an investment committee, if so, who are the members? What is the investment policy? What is the asset allocation policy? Is investment outsourced, if so how are the fund managers chosen? What is the mandate? Who is responsible for stock picking? On what basis is this done? Does Professor Persaud have any answers to the above?

    Like

  • NorthernObserver

    @HA
    “we”????
    from the Actuarial Audit, there is an Investment Policy Statement for “some” of the ‘funds’ operated by the NIS. {recommendation..(iii) Establish written investment policy statements for both the Unemployment and Severance Funds}. Also from the Audit the targeted asset allocations are given, and how the actual varies from target.
    Since the NIS has been unable to publish an audited Annual Report in 13 years, one has no idea exactly what sub-committees exist (but the audit suggests they do exist) or who is on them. We can ‘guess’ it is not external experts, because this is one of the Audits recommendations.(provide for other Board sub-committees to include, and possibly be led by, non-Board members, who have experience and qualifications in the applicable field) We have no idea who, internal or external, executes the IPS (Investment Policy Statement).
    Given one former Board Member, Colin Jordan, is now the Minister in charge, another former member Ian Gooding-Edgehill is now the Chair, the former CEO (Managing Director) is also now a Board member, and was promoted to Director of Finance and Economic Affairs under the current administration, the former Chair Dr JR was retained as a Director at the CBB, I am at a total loss as to where accountability lies for anything within the NIS.
    It would appear the pool of persons capable and/or willing to serve on the island’s most important public financial entities, is very small. And that attempts to bankrupt the NIS and failure to report for extended periods are deemed key qualities for promotion and inclusion in key decision making positions.
    I know your retort….Barbados is a failed state.

    Like

  • NIS “contributions” are a tax. we know this because the former central bank governor and the IMF din’t count the GOB debt to the NIS. it is there to be taken as the dems did and used as the GOB likes. having a board of supporters only makes the taking easier, but so did the last. an independent board would not have lent the GOB money, especially since no-one else would. nothing new here.

    when do we hear what targets have been agreed with the IMF? i bet we hear very soon about the “restructuring” of the civil service. i bet international bond holders don’t budge. the economy is under more pressure and you can literally see it or the lack of activity. NIS increased contributions have not gone on yet. civil servants haven’t gone home yet. bond holders, including companies haven’t calculated fully what the cuts mean to them in cash flow and balance sheet losses yet. its going to be a very tough ride. we need a growth plan NOW.

    Liked by 1 person

  • lol..

    [video src="https://lh3.googleusercontent.com/-mgx4eF9Twt8/W7FqWzBGJ_I/AAAAAAAAzpk/0_RQsie_4HQX9LJ7oPoJO23cYhTGmbmbACJoC/w530-h883-n-k-no/yardfowl%2Band%2Bdog%2Bfighting.mp4" /]

    Like

  • NorthernObserver

    @BA
    from the same Actuarial audit
    “When government debt is viewed with NIS holdings excluded, the implicit assumption is that these assets are not “real”
    and that government raising taxes to repay the NIS is akin to raising the contribution rate on NIS contributors. This is
    because government tax revenue and NIS contributions come largely from the same sources – businesses, workers and
    consumers.
    While the above discussion is primarily academic, the Fund faces the risk of GOB restructuring some or all of the debt
    that NIF holds. A restructuring of Government debt could include the face amount being reduced and/or yields drastically
    reduced.”

    Like

  • straughn said today on the radio that nis debt was/would be restructured but not central bank debt, because the central bank is government but nis is not. they count it depending on what suits at the time. claimed that central bank debt issue was at the request of the MOF, like if the nis debt was not. all governments will do as necessary to save themselves.

    Liked by 1 person

  • Bottomline….. those negros in parliament are their own economic hitmen.

    They are useless…just like those who went before them.

    Like

  • i really would like someone to explain why 10 years of tax increases, no public services and a smaller economy than 2007, not to mention what is still to come is good but devaluation is bad? i am open minded, but please don’t quote the old “it won’t help we don’t export anything” or something similar. just take your time and explain it, im stupid, but i will get it eventually. in mid 2011 the canadian dollar bought $2 bds, but in early 2006 it bought only $1.4 = 30% less, was that a devaluation of the CDN? in nov 2007 the british pound bought $4.18 bds but in jan 2017 it only bought $2.50 = 40% less, was that a devaluation of the pound. could our lack of “direct foreign investment” and tourism earnings have something to do with two of our fx earning countries not seeing “value” because of the “strength” of our dollar? did riots break out in canada or the uk because of their devaluations?

    Like

  • also don’t come with the “foreigners will buy up everything”. our home “values” are off 50%, and so are now the “value” of GOB bonds. i see no sign of a rush by people with a real currency to buy either, in fact the rush seems to still be going the other way, and “buying up everything” is also sold as “direct foreign investment” depending if it said to cause fear or optimism.

    Like

  • Northern Observer,

    All the questions I have asked should be answered on the home page of the NIS website.

    Like

  • BA for Minister of Finance!

    The statement “it won’t help we don’t export anything” simply reveals the insane, outlandish local perspective. Barbados doesn´t export anything BECAUSE of the peg.

    Is this so difficult to understand for all the “educated” native consultants of the present gov???

    Like

  • Dullard, you cannot look at the pound and the Canadian dollar against the Barbados dollar that way.
    What you are seeing are their movement against the US $.

    Let me pose this question … is your 2018 barbados dollar buying more than the 2011 dollar.

    Liked by 1 person

  • That comment was for BA….

    Like

  • i thought they were supposed to be buying from us? and now getting a lot less for it. thats what i am missing. we should be buying stuff from america, and keeping our dollar to high so we can continue to import. gotcha.

    Like

  • isnt it strange for us to keep talking about reserves and tourism and ansa, goddards, massey, sagicor, courts, cave shepherd dont earn any fx or own any hotels. in the case of cave shepherd you could claim that they earn some on what they have spent to import, but net im sure is negative. so if all the publicly listed and best capitalised, employing the brightest are dedicated to spending fx on imports then maybe a strong dollar makes perfect sense. we wouldnt want the jet ski operator driving a bmw and living in royal westmoreland while the head of massey is catching the bus to work. i also hear a lot about “brand name” hotels, because after 50 years we still dont know how to run one. massey made a meal of almond, literally. butch got into hotels to get fx to import air conditioners into jamaica. maybe if we starved our best for fx they would learn how to earn it too? but i am open to the strong dollar view, im obviously missing something

    Like

  • who do you think funds both political parties
    who will threaten mass layoffs at the slightest attempt to address the exchange rate or place reasonable restrictions on imports

    Like

  • https://affiliate.kcbank.io/?s=dreamstarworld Trinidad & Tobago’s young millionaires in Karatbars International! Will Barbados be next? https://www.youtube.com/watch?v=SSiKt_KB9Ww

    Like

  • When ya talking the truth, ya talking the truth..

    “By Youri A Kemp

    While Barbadians and Caribbean folks at large bask in the glow of a female leader taking the helm of one of our beautiful islands, making the honeymoon phase of the new Barbados Labour Party (BLP) administration longer than it would normally be, we must now begin to get down to the serious issues that: 1. Barbadians have a life and a country that needs to be healed; 2. Facts need to be set aside from the fiction of the campaign slogans and promises; and 3. Barbadian problems before the elections still exist and need identifiable solutions that can be tracked moving forward.

    Thus far, newly minted prime minister of Barbados, Mia Mottley, a woman on a very short list of women leaders ever to have graced parliament as an elected member, and on an even shorter list of women to be elected as leader of their respective countries, is in the realm of being both clown and con-artist all at the same time.

    Now, before I hear the calls of “mind yuy busisiness” and “go talk about The Bahamas” or “why are you attacking a female leader and not no man”… save it. I talk about everyone. Plus, I’m making it my business from the observations and, despite what may be written after this, I wish the Mottley-crew all the best, as Barbadians need a break.

    Let me start off by saying first off: Mottley is no neophyte to the political game in Barbados. Her father was a former member of parliament; in addition she has held cabinet positions in government before and has been a member of parliament for quite some time.

    Washing the obvious fact that she is a female aside, nothing about her screams of anything other than a regular, every day, run-of-the-mill politician in the old masculine (old boy) mould — in behaviour, deportment, actions, characteristics and in speech. Do not let the physiological aspect of “being a woman” and not having “man-bits” fool you — it is as relevant as or important to the frame of her policy direction as is the colour of her hair.

    The first time Mottley audaciously clowned us is when she responded to claims that her administration had poached the Ross University away from her sister island of Dominica — citing the fact that the country had just not made a sound enough rebound after the devastating Hurricane Maria that destroyed the country in December, 2017. A move she alluded to on Facebook Live was done with the full understanding, knowledge and tacit approval of the prime minister of Dominica, Roosevelt Skerrit.

    Prime Minister Skerrit came out and denied ever having any such discussions with Mottley on the relocation of Ross University to Barbados, quite obviously. And anyone would wonder why Skerrit would agree to such a thing when Dominica needs all of the help and economic input it can get?

    Simply put: No one believed Mottley then, and no one believes her fantastic story now. Particularly anyone in the region with a brain-cell. You can pull that on Barbadians who have to live under a one-party rule parliament where you are the constitutionally established dictator, but no one else is obligated to appreciate those statements or movements.

    The first time Prime Minister Mottley conned us, however, was when she brought in the International Monetary Fund (IMF) to help stabilize the country after the disastrous economic collapse that was reportedly gripping Barbados under the former Democratic Labour Party (DLP).

    Set aside that Mottley’s party platform laid out, what it called an intensive formula for economic recovery, tax-incentives, in addition to stating that it will increase investments based on its strategy, to switch and turn to the IMF within a fortnight after winning office, essentially setting aside what they campaigned on, was not just “run-of-the-mill” politics from the standard mould; but a con-job of the highest order.

    From reviewing both BLP and DLP platforms, I saw that what she was offering was not going to cut it. There was no plan and no forethought to an economic plan that made credible sense.

    Taxing businesses, disincentivising them to produce more, promising “free money” to non-productive members of the economy and assuring more red tape and oversight in an already saturated bureaucracy was nothing more than sweet-talk, where I hope Barbados does not dig itself deeper while hearing a good speech about it at the same time.

    But real red flags came up when Prime Minister Mottley announced herself as the substantive minister for finance and investments. Anyone who was in the policy mix of any of the former British colonies and wider Caribbean all rolled their eyes at the same time — just like me — and all said at the same time, “Here we go again!”.

    You would think that with the pronouncements of the Barbadian economy being in such dire circumstances, a more seasoned financier or economist would be put in place to get things back on track. Not dismissing Mottley’s skills, but she is not an economist; not a financier; she is barely a lawyer, having spent most of her career in politics than in the courtroom, so why is it that persons should look at her promotion of herself to the hot-button ministry, when she has exhibited no former proficiencies on the subject matter, be met with anything else other than what we all think it is? A disaster waiting to happen!

    With a wide-sweeping mandate, which we have seen before in Caribbean elections, we expect either a larger Chinese investment to take shape out of nowhere — it seems — in Barbados before the halfway mark of this current term. Or, we expect Henley and Partners to come up with a brand new and dynamic way to bring investments to Barbados through citizenship by investment initiatives — either these two, or both, are not far off.

    Again with all of the seats in the Barbadian parliament held by the BLP, accountability is of course going to be weak. No matter what the current administration says about increasing transparency and keeping their hands off the people, greed, avarice, haughtiness, hubris and mean-spirits creeps into the hearts of all men, and women, when the opportunity keeps itself present for too long. You don’t need years of experience in a dictatorship to appreciate that.

    Even when it comes to the earlier cry for members of the former government to come forward and confess their wrongdoings and corruption to her so she can clean up the mess, amplifying earlier calls from her to investigate corruption vigorously and seriously, it seems as if the United States courts have a better time of capturing and bringing to justice Barbadian politicians.

    If this were not bad enough, it is understood now that the current laws on corruption in public office are antiquated (laws and statues put in place from the 1920s) and that a new set of laws is being drafted to deal with corruption and transparency issues moving forward — no timelines for the implementation and execution of these new laws and rules are given, of course. Just that they are on the way. We believe you!

    So is Prime Minister Mottley a clown or con? I’d say it is a mix of both, for now. I continue to watch!”

    Like

  • Hopefully Mia and her ministers …no matter how they pretend otherwise…can see how this will end.

    “Even when it comes to the earlier cry for members of the former government to come forward and confess their wrongdoings and corruption to her so she can clean up the mess, amplifying earlier calls from her to investigate corruption vigorously and seriously, it seems as if the United States courts have a better time of capturing and bringing to justice Barbadian politicians.”

    Like

  • I will bet that David/BU knows of that article you posted WARU but he would nevet put it in a blog for discussion.

    Its only BLP propaganda about BERT and IMF deals and what Charles Jong – the BLP CAMPAIGN FACEBOOK MAN sends his way.

    RECENTLY HE CREATED AN ARTICLE OUT OF COMMENTS POSTED BY VINCENT CODRINGTON.LETS SEE HOW HE TREATS THIS ARTICLE IN WARU’S POST.

    I note that this commentator who wrote the article is from the Bahamas and his conclusion is – Mia Mottley is both a con artist and a clown.He he he

    Like

  • @T.Inniss

    The blogmaster is omnipresent, now you know.

    Like

  • Ok David/BU.

    If you were away and did not see the article I can live with that. However,now you know of its existence – put it up and lets have a balanced representation of what is out there.

    Like

  • @ David,

    Everything Youri A Kemp wrote in that article has been discussed on BU.

    Pieceuhderockyeahright, Millertheannunaki and Bush Tea have all said the same and issued warnings.

    Like

  • @TI
    I appreciate your primary focus, but returning to the topic NIS….I ask again
    “WHO had the power and influence to direct the actual purchase of investments by the NIS, when said purchases ran contrary to the Plan approved by NIS Board?”

    This is highly relevant. For if we have the same type of Board and Management composition as before, then the NIS remains open to the same style attack.

    Like

  • David you are such a corrupted liar after i trying four times to post the Yuri Kemp link you have the nerve to say bold faced that you were not aware of the link

    Like

  • Let’s hope the UNETHICAL DISHONEST ONES we know in the parliament AND IN THE PRIVATE SECTOR whose eyes are bigger than their stomach, don’t be dipping their THIEVING HAND in this money that generations of people from the majority population HAVE TO PAY BACK to the IMF…

    http://www.nationnews.com/nationnews/news/200786/imf-funds-tomorrow

    “By tomorrow US$49 million in International Monetary Funds (IMF) funds will be transferred to the Central Bank. Government economic advisor Dr Kevin Greenidge said access to this first tranche of an overall US$290 million, intended to boost the foreign reserves over four years, followed the IMF Executive Board’s approval of the Barbados Economic Recovery and Transformation plan (BERT) on Monday.”

    Like

  • pieceuhderockyeahright

    @ T Inniss

    In one breath you and Mariposa call the Honourale Blogmaster- The Herald of Chairman Mao Mottley

    And then in the second breath saw that he MUST COMPOSE & THEN POST ARTICLES WHICH ARE ANTI MOTTLEY!!

    That does not make sense to me

    Where is the beef?

    It’s normal to have people who are for you and those against (unless you are the Barbados Opposition in the House of Assembly)

    In combat, for you to be effective, you have to take out your enemy.

    If all I have on a battlefield with Howitzers is water balloon bombs my as.s is grass.

    The Honourable Blogmaster’s allegiance is the the Chairman TODAY because it’s the best horse in town AND THE STINT HAS ITS FUTURE BENEFITS.

    YOUR BULLETS have to be facts (says the merchant of emotive psychographics heheheheh)

    The Honourable Blogmaster will post things that bring “hits” that are persistent

    Let me focus on two bloggers here to make my point.

    DR. GP & JOHN THE QUAKER

    they are controversial for different reasons but both are “hits” and attract persistent readership.

    Let me explain the why to you with the hope that you glean something from them both

    We does come to BU and complain bout this mess in Barbados every day I lie? I borrowed that from my learned Theologian and highly trained doctor Dr. GP

    He meks fun at our brimling and makes us vex with him for pointing out the very thing that we know!! You understand that? Yet, he adds to that where his true focus is, in The Risen Christ, and much like you get vex with the Honourable Blogmaster for not making a special blog about Mia’s shortcomings, we does get vex that this man who curses us for our obvious shortcomings COULD LOVE GOD SO MUCH TO ANNOUNCE HIS LOVE so much.

    Same thing with John the Quaker. An intelligent white man who, while he ammmmm has his predispositions to slavery of oftimes shows that he too latterly, is not so Quaker bound that he cant engage and do the right thing.

    What all my long talk means?

    Both of these BU polemicists and protagonists and antagonists, bring their own variety of “bullets” to the fray that force us to engage with them

    Since your sold focus is on Mottley’s failed politics THEN YOU HAVE TO BRING MEAT TO SHOW SHE FAILED, documents showing her theft and misappropriation ELSE LEAVE DODGE cause de Calhoun brothers are come back at sundown heheheheh

    Like

  • “The Barbadian, who works for the IMF but has been seconded to Government as an advisor, also said the IMF’s “stamp of approval” of BERT would positively influence other funding agencies and foreign investors in their provision of assistance to Barbados.”

    Mia needs to tell Cow and Bizzy Williams, Mark Maloney, Bjorn Bjerkham and all the other parasites that this money does not belong to any of them and do not get it in their heads that they can use the jackasses of parliament to steal any of it via SCAM CONTRACTS, TRICKS, LIES and BRIBERY…..as they have been doing for decades to the people …..

    Mia needs to tell the thieving lawyers around her to keep their DIRTY CORRUPT HANDS off the money belonging to the people….and keep their half assed opinions that they want to charge the people/taxpayers 15,000 dollars a pop for…to themselves.

    long as they know….don’t care how close the minority thieves and parasites and the thieving lawyers are…they will not get away with it, not this time.

    Like

  • Piece Uh De Rock Yeah Right

    @ the Honourable Blogmaster

    Your assistance please with an item here for T Inniss Thank you

    Like

  • NorthernObserver

    “they will not get away with it, not this time”
    on behalf of all the crooks and bribers, regardless of their skin tone…#watchmuh
    Hey ya see, a son-in-law of the fella whose boat get teef at Bath, is now a diwrekker at the CBB.

    Like

  • NO…wow, ok.

    The son is not doing too shabby in Miami either..

    Like

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