IMF Program Unpacked – Our Way of Life Will Change, FOREVER

STAFF APPRAISAL

30. Over the last decade, Barbados economy has experienced very low growth, and fiscal and external imbalances have gradually led to an unsustainable situation, with very high debt, and very low reserves. These challenges must be addressed by a combination of fiscal consolidation, measures to boost growth, and debt restructuring. The authorities’ Economic Reform and Transformation program seeks to address these long- standing structural imbalances and implement an aggressive front-loaded and comprehensive reform agenda – extracted from p.18 of the IMF Report 2018

 

The 77 page IMF package detailing the REQUEST FOR AN EXTENDED ARRANGEMENT UNDER THE EXTENDED FUND FACILITY; STAFF REPORT; STAFF SUPPLEMENT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR BARBADOS was posted to the International Monetary Fund website on October 4, 2018. It is no surprise the traditional media has not seen the value in unpacking the details of the arrangement secreted in the voluminous and technically worded documents.

What has been widely communicated is that in record time the new Mottley government has been able to secure the approval of SDR 208 million or USD290 million. The government’s PR has been quick to point out that the draw down from the IMF represents 220% of Barbados’ IMF quota and is a ‘homegrown’ program.

Key elements of the program are:

  1. Fiscal adjustment: increase primary surplus to achieve 6% by 2019/20
  2. Reform state owned enterprises (SOEs): reduce transfers to SOEs by 2%
  3. Structural reforms to support growth: improve business facilitation
  4. Debt restructuring: debt is deemed unsustainable and government has aggressively moved to administer ‘haircuts’ to bond holders

In the background section of the document (p.7) the IMF delivers a negative synopsis of the performance of the Barbados economy post the 2008 global financial crisis. One of the program objectives of interest to the blogmaster is item 8, p.9: “Increased investment demand can restore growth and increase its potential. Restored credibility in the macroeconomic framework is expected to increase investment. Higher net FDI inflows will contribute to improving the stock of capital and, through this channel, actual and potential growth could reach close to 2 percent by the end of the program“.

 

Other key deliverables of the IMF program:

  • Fiscal discipline will help address external imbalances and rebuild international reserves.
  • Fiscal reforms over the program period aim to address structural weaknesses in Barbados’ fiscal framework.
  • Streamlining, restructuring, and privatizing SOEs will substantially reduce transfers to public institutions
  • Vulnerable groups will be protected by strengthening social safety nets
  • The authorities remain strongly committed to the exchange rate peg, which has been in place since 1975 and has provided a key anchor for macroeconomic policies.
  • The program will lay out a roadmap for normalization of monetary policy.
  • The CBB Act will be amended, with the help of IMF TA, to strengthen the autonomy of the CBB and the limitation on CBB financing of the government, among other enhancements
  • The authorities have made progress in identifying debt restructuring parameters that would provide debt relief without jeopardizing financial stability.
  • Significant progress has also been made in discussions with domestic and external creditors.
  • Debt management capacity will be strengthened.
  • To promote long term and potential growth, labor, product and service markets will be liberalized
  • The authorities intend to establish an Economic Program Oversight Committee (EPOC) to strengthen societal ownership and build public support for the measures in the program.
  • Data inadequacies continue to hamper understanding of key macroeconomic aggregates.

 

The part of an IMF agreement that raises the most concern are the condition or in the case of Barbados what are the targets we will have to meet to be able to draw down on the SDRs approved.

 

Quantitative performance criteria:

  • Floor on the central government primary balance (excluding repayment of central government arrears)
  • Ceiling on the stock of Net Domestic Assets of the CBB
  • Floor on the Net International Reserves of the CBB
  • Non-accumulation of central government external arrears (excluding arrears resulting from nonpayment of debt service for which the government is pursuing a debt restructuring).
  • Ceiling on grants and transfers to public institutions
  • Ceiling on the stock of public debt

Indicative targets:

  • Ceiling on the stock of central government domestic arrears
  • Floor on CG social spending Structural benchmarks

Structural benchmarks

  • These will focus on SOE reforms, growth and business climate, CBB autonomy, tax policy and revenue administration, public sector reform, and public financial management (Table 2 MEFP). The structural benchmarks will be critical to underpin the adjustment effort.

The average citizen will not read the IMF report and others will ‘scan’ to satisfy a mild curiosity.  It is obvious to the blogmaster after reading the report that there are significant changes still to come that will drastically affect Barbadians from all walks of life. As a people are we ready to be that chanage?

 

Link to Barbados : Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; Staff Supplement; and Statement by the Executive Director for Barbados

448 comments

  • David/BU

    You are wrong.I will quote you what Albert Brandford said in his column titled: DEBT HAIRCUT OR DECAPITATION?

    He states:

    “But despite the rhetoric and sophistry,the IMF apparently DOES NOT HAVE THE FULLEST CONFIDENCE IN THE HOME-GROWN PROGRAMME SINCE A NORMAL EXTENDED FUND FACILITY (EFF) IS A THREE – YEAR PROGRAMME WITH UP TO 350 PER CENT OF QUOTA – BUT BDOS IS GETTING ONLY 220 PERCENT OVER 4 YEARS.

    The IMF seems to be following its own rules,done its own calculations and tempered the lending in these tough circumstances because it wants to ensure that Barbados can repay the monies.

    In effect,they are saying we cannot justify giving you what you want but this is what we can offer.

    As I said in an earlier post – this is what can be said of Mia – MENE MENE TEKEL PARSIN

    The Emperor ( Mia) is naked .

    Like

  • My fellow Bajans, you are invited to visit Canada after October 17th to enjoy the freedom to smoke weed legally.

    Like

  • Was Mia reading from a prepared speech? At times I got the impression that she was free-wheeling, I note that this is a continuation of the Mia and Dale show.

    @Hants
    Only if they are prepared to but their tampee from a Gov’t site.

    Like

  • @ Sargeant ,

    Mia appears to be ” bright ” and Dale appears ” challenged “.

    Like

  • @Sarge
    all the native lands have multiple pot outlets, have had for some time. What used to be 5 ‘smoke shops’ in Tyendiaga selling native made cigarettes is now about 40 pot retailers. You can fill up too, for gasoline purchases are not subject the the tax regimen elsewhere. You want booze? Just ask.

    Like

  • Many hands make light work – but not for Mia’s oversized cabinet – because you know she needs these 28 people around her – never mind some of them don’t even have enough work for a half day job – and of course the large number of consultants – well because its all about jobs for the boys – BUT DON’T WORRY JUSTWATCH MUH.

    With Mia its all about catch phrases like RE -RE and Bert and the kool aid drinkers all cry – cheez – on bread yuh hear Mia ? She real bright – she could talk without even reading from a piece of paper.

    Imagine she is sending home workers but at the same time she is creating a new Unit called the Mitigation Household Unit – so she has to hire people to staff that Unit.

    In all of this talk,and jargon and catch phrases – there is no cohesive plan to stimulate this economy and get growth in our main sectors or new areas.

    The truth is the BLP always won the elections when the Country was enjoying prosperous times – and then they proceed to borrow and borrow and borrow and put us in debt.They do not know how to handle the economy in a recession.

    This is what we are in line for – borrowing,borrowing,borrowing because Mia does not have a clue what to do.

    Liked by 1 person

  • Lol..yep, they relaxed the LCBO monopoly..

    Even in Waterloo, for years now they have been little outlets to get ya herb, ya pass on the streets and see them.

    Medical marijuana has been legal in Canada for 17 years.

    Hurrah. .October 17, one of my daughter’s birthday, told her to just slip into Niagara and celebrate. .

    Alvin Cummins must be having a FIT..lol

    Like

  • T. Inniss,

    The prime minister’s speech was billed as an Address to the Nation. It was not. Implicit in such an address is an issue of national importance. What we got was an hour of unscripted waffle. Nonsense, with Marshall playing Mutt to Her Jeff.
    I was looking for further details on BERT, instead what we got was a promise of a further speech. This is all Mandarin to me. Mr Jong is worth his weight in gold – or Bajan dollars.
    Did you notice at the end of her speech was a little Americanism: God bless you, and God Bless Barbados. Yankee marketing verbal soap suds.
    Barbados is a failed state.

    Liked by 2 people

  • How can this be seen as a ” gift ” ?

    Headline ” Income tax ‘gift’ coming soon”

    http://www.nationnews.com/nationnews/news/201876/income-tax-gift-coming-soon

    Like

  • Isn’t that the government way…giving you back what is yours and acting like they are doing you some favour and saving ya life..and fully expect you to bow and scrape and beg for it too…

    What bothers me is the government’s inability and blindness to see how repulsive that 1950s practice is, yes, it is a dirty old practice straight out of the 1950s practiced by now dead, petty minded Caribbean politicians like Eric Gairy et al who loved to brainwash and lie to the populi pretending they are the saviours of black people while ripping them off, robbing them and their future generations blind and mind washing them into being blind loyal yardfowls with no future.

    It is an old, ugly, cursed practice of Caribbean leaders…that the people of St. John paid dearly for 60 years to learn…until they woke up on May 24, 2018.

    Like

  • I have been hearing for the last 2 months that it is Mia holding up outside HELP from FBI etc. to investigate her DLP friends..

    . I did not want to blame her unfairly or prematurely…but after the Mia and Dale show….it is clear that the accusation, coming from very reliable quarters, have some type of merit..

    yes, we know some investigations can take months and years, but it was Mia said she had the evidence in her RED BAG.

    Like

  • It is reported that ” Attorney General Dale Marshall has assured the public that the Mia Mottley-led administration is “absolutely committed” to purging the country of a “stain of corruption” that it has uncovered since taking office in May this year.”

    While BLP supporters are asking for former DLP MINISTERS to be arrested and charged with corruption,

    the big ups who benefitted from million dollar contracts if they got said contracts by bribing DLP MINISTERS will also HAVE

    TO BE ARRESTED AND CHARGED.

    That is why the ” investigations ” will be long and painstaking to ensure that the big ups can support the BLP BERT.

    This is why Dale’s speech was a discombobulated somnambulation of phytogeneric obfuscationary diatribe.

    Liked by 1 person

  • “I have been hearing for the last 2 months that it is Mia holding up outside HELP from FBI etc. to investigate her DLP friends… I did not want to blame her unfairly or prematurely…but after the Mia and Dale show….it is clear that the accusation, coming from very reliable quarters, have some type of merit..”

    Hmmmmmm……

    A pathological liar is someone who COMPULSIVELY tells lies or FABRICATES information out of habit.

    The pathological liar knows government cannot invite the FBI to independently investigate a domestic issue.

    A perfect example of “making up things just to make things interesting.”

    Like

  • Hal

    I too like you thought I was going to hear something of substance and not the empty,useless verbiage that we got yesterday afternoon.

    Even if we haven’t reached failed state status yet – AND I AM EVER THE OPTIMIST – Mia is quickly taking us in that direction.

    Liked by 1 person

  • “the big ups who benefitted from million dollar contracts if they got said contracts by bribing DLP MINISTERS will also HAVE

    TO BE ARRESTED AND CHARGED.

    That is why the ” investigations ” will be long and painstaking to ensure that the big ups can support the BLP BERT.”

    uhh…huh!!!!!

    Like

  • No international financual institution would have trust or confidence in a govt that defaults on the govt debt
    Sooner rather than later tge pressure of Mia wanting to have her cake andceat it too would come tumbling down on the entire nation
    Mia is going to find out the hard way that going like a beggar with cup in hand to the IMF was the worst of all alternatives and had she and her band of goons allowed govt planned initiatives to move forward in timely order the country would be for the better removing some of the mounting day to day pressure the entire nations now has to endure
    Also the latest development of investors taking govt to court would have been avoided

    Liked by 1 person

  • And in the interim…ROB dying pensioners.

    Liked by 1 person

  • CORRECTION:

    missed. out a word:

    Even in Waterloo, for years now they have been little outlets to get ya herb PARAPHERNALIA, …as long as ya did not mention the word herb..lol…ya pass on the streets and see them.

    Like

  • @ac
    “had she and her band of goons allowed govt planned initiatives to move forward in timely order the country would be for the better”
    what precisely were the ‘govt planned initiatives’?

    Like

  • @ NorthernObserver

    the planned initiatives could have been legalisation of marijuana, building gambling casinos and legalisation of same sex acts and marriage.

    Like

  • I can well understand the baying of the DLP hounds (or braying of jackasses) on an almost hourly basis to these pages. They have been silent for ten whole years even in the face of unmitigated disdain, malfeasance and total mayhem as far as governing this country was concerned and also keeping our good name out of the mud, so go ahead, get it out of your system. The bile that must have accumulated all these years has to be expelled.

    While I can appreciate the need for thorough investigation into any criminal matters that took place in government in the past, my wish is that these investigations are not made to stretch right up until the eve of the next election when little tidbits of information will be leaked to the masses with promises of BIG legal actions to be taken in the next few months (after elections of course). Please be more original that that.

    Like

  • “A pathological liar is someone who COMPULSIVELY tells lies or FABRICATES information out of habit”

    @Artax

    This is compounded by narcissism which manifests as the incessant need to portray oneself as the authority on every topic from elective politics, to the people of St. Vincent, to the law.

    I think we are dealing with a low-functioning sociopath

    Like

  • That is exactly what ya will get, little bits of lies and leaks, she already got Marshall regurgitating the same crap he repeated in the two previous conferences and think we are too dumb to have noticed..they will add a bit here and there…oh some people confessed and we forgave them..but never telling you who confessed or who they forgave….ya would know they never recovered ANY of the people’s money, cause they won’t ever tell you if they did..

    then stretch it all out for 5 whole years and tell ya…oh…if ya reelect us we will lock them up….this time.

    ya gotta remember that these are the same lawyers destroyed a whole Supreme Court and got it tied up in knots with cases backlogged in there for decades and with nothing moving, people have been waiting fo court dates since early last year…that is all these know….how to lie and destroy.

    ….it is up to the electorate to get them out of the parliament next election permanently….29-0…because they will NEVER stop lying to the people.

    Like

  • Ah got people following me from link to link…just to whine.. I should bottle that power, patent it and sell it…lol

    Like

  • @Hants
    could be….I din’t have a clue exactly what they were….so I asked.

    the big joke IMO….is some Canadian to help with fiscal policy. We have ONE federal government, TEN provinces and THREE territories, plus numerous CITIES. Provincially In the past decade, so 10×10 annuals, only THREE times have they not operated in deficit. The current feds campaigned on a balanced budget in 3 years, that came and went, and now projections are well beyond 2022 for deficits. What the hell can anybody in Canada teach them about fiscal responsibility?

    Like

  • “This is compounded by narcissism which manifests as the incessant need to portray oneself as the authority on every topic from elective politics, to the people of St. Vincent, to the law. I think we are dealing with a low-functioning sociopath…”

    Redguard

    I have to agree with your above comment.

    “When confronted, a pathological liar may find a way to AVOID ANSWERING a question. Pathological liars are MANIPULATIVE by nature, so you may think they’ve answered something when they really have FAILED to do so.”

    “No two pathological liars are the same. However, most of them will REACT AGGRESSIVELY when CAUGHT in a lie. If someone seems to get ANGRY in response to accusations of lying, you may be dealing with a pathological liar.”

    “Sounds familiar?”

    And what is even more interesting is the fact that, no matter whatever job or situation anyone mentions, either she or a relative worked in that environment or they have personal knowledge of that situation….. or she has a relative that made some “grandeur achievement.”

    Trying to convince BU she has a relative was able to gain entry in a top Canadian university because she had 10 CAPE subjects…….. immediately comes to mind.

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  • The problem with the two political parties, particularly this present government because DLP has been successfully severed from the political landscape……they have ran their course, the people are over them, just read the comments on every blog, even on FB and it is clear…these ministers/politicians/lawyers/pretend reverends are no longer WANTED on the political landscape…in the parliament, not by the people, they have overstayed their welcome and are of no use to the people, never really were…..

    New candidates will have to prove themselves..or will NOT be elected..

    Reality:

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  • NO now that u have released your cheap political shot from the rear end
    Maybe u can ask yourself what planned initiatives did Mia have in mind or on hand when she blasted govt for the proposed building if the Hyatt
    Or what planned initiatives did she have in mind when govt tried to sell the boondoggle Hilton and she raise heaven and Hell
    Or what alternative planned she had to increase the shortfall in the defecit when she hailed the stopped proposed sale of the oil terminal
    In 100 hundred day all have got a double dose of Mia initiatives and they are all bitter to the bone

    Like

  • And the way this Mia and Dale show is shaping up, apparently the Mia government has not gotten the memo yet, while the public is letting her know how they really feel, Jong is in the background spinning and spinning.

    This clearly will not end well..

    Liked by 1 person

  • Punishment was meted out on two fronts yesterday, first the Indians put a whipping on the Caribbean cricketers and then the PM had segments of the Civil Service asking “Who me?”

    Earlier I asked if the PM was freewheeling and the question arose from her comment about climate change and the recent floods. Ahem….. Climate change had nothing to do with the recent floods in Barbados the culprit was poor planning. We have built up areas where water used to “settle” or “run” which were the equivalent of flood plains and we expect that the water will find another avenue to disperse? Floods in certain areas are endemic and all one has to do is look at photos from the area in 1970 and compare them to photos from today.

    Hard ears yuh won’t hear, ownway yuh gwine feel.

    Liked by 1 person

  • Then there is this…

    Like

  • It has been said by those infinitely wiser than this ole man, “good government is an oxymoron”.

    And that is the crux of this matter. Government sees itself as the enemy of the people that it has been elected to serve and the very services that they are mandated to provide become the very tools that they abuse and misappropriate LIKE IF IT IS THEIR PERSONAL PIGGY BANK.

    It is like a national lotto for 26 winners called MPs

    Take for example “the gift that Mugabe is now promising tax payers”

    The goft of being paid tax refunds owed, some will say that this is a sign of good governance and whu Mia do fuh we but wunna starting to comprehend what is going on here?

    This is what she is being paid to do as prime dictator sorry minister.

    We pay taxes and she administers these taxes as per her mandate.

    Of course that mandate is changing daily as she changes the Constitution but wunna comprehending dis?

    Steupseeeeee but I talkig to SHEEPLE DOAH so i ent know what to say other than baaaaaaa!

    Liked by 1 person

  • It has now reached the stage that the scandals are coming one after the other, the people do not trust this government, those who were willing to give them a chance will not extend their good will nor their patience for much longer, so why can’t the government see where this is headed..

    What we are noticing is that Mia seems to have all this backward, now if she would pursue the DLP thieves and their co-conspirators who ripped off the treasury and pension fund, as she promised she would….recover ALL the money and use it to pay down most, if not ALL THE ISLAND’S DEBT AND ARREARS…there would be no need for from 40 year olds to 90 year old pensioners to be making sacrifices or suffering in poverty while Mia feeds them the patriotic line of bull crap….which is also a lie….how could anything else make sense to them..

    … it’s like they are ALL stuck in this time warp while the population woke up years ago and moved on, but the government can’t…because of too much corruption..

    I knew I would figure out the problem with this government, it just had to hit me.

    I can’t for the life of me figure out why the Mia government’s foolish solution of robbing the elderly and the vulnerable to prop up shortfalls and thefts by their DLP friends and their masters in the minority community.. is seen by them as a brilliant plan…in 2018.

    But she and Marshall both still think they are talking to idiots on the island…..that stems from years of practicing arrogance….and believing that their own people will remain unaware, uninformed and perpetual victims indefinitely. ..while her ministers parade around doing the same things or worse to the people…just like DLP,..

    …not even the 30-0 from the last election sèemed to have sent a warning to them…or is it acting as a deterrent…but time is longer than twine.

    Like

  • Piece……Mia can parade around as much as she wants but not for as long as she likes…all they are doing now just proves that the corruption they practiced ran so deeply inside both political parties that they both got stuck in a 1950s time warp and still cannot get over or away from it..DLP had to be physically removed by the people..

    …..but at the end of the day…the ELECTORATE will also show Mia & Co…who is the boss…

    The people showed DLP did they not…

    Like

  • I see that a few o wunna going get ban soon from barbados Underground

    One Fearplay for requesting that the results of the investigations doan get stretch our for 5 years

    One Northern Observer – for referencing this fiscal expert and triggering de ole man overactive thoughts bout a Bajan with dual nationality, Bajan and Canadian, is not really a Canadian Fiscal Expert, but a Bajan with dual nationality with fiscal expertise heheheheheheh (dat may be a sociopathological lie de ole man is inserting so forgive me heheheheh)

    And, one Sargeant for noticing that the “Climate Change” cry of “the substantive” Prime Minister Mia Mugabe, and him hinting that this was indeed an emotive plea to get Climate Change funds for places which we bajans know from the time Adam was a lad, used to flood witd two drops of rain

    I going campaign for wunna to get ban forthwith right befo dem ban de ole man heheheheheheh

    Wunna ent hear how Mugabe nearly slip and talk bout the new laws for social unrest management, whuloss, looka dat lie doah heheheheheheh doan mind me Artaxerxes, I understand what you are saying

    Liked by 1 person

  • Wow,the amout of daily drivel I read here on bU is astounding ,All of a sudden everyone is an economic expert ,Waru /Well Well,the idiotic Mariposa,T Inniss,Piece,Theo Gazzerts,Sargeant,Hants,,,,Hal Austin and some newbie Truth,everyday morning till night..tell me soething are you all Bajans and hoping Barbados fails?.What are the alternatives,and why were these not given to the Minister of failure,and the ex PM?Perhaps one of you can answer Sir Lloyd;s question how the hell we ended back here?Let me hear from the know alls.

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  • @ pieceuhderockyeahright,

    Desperate situations require desperate begging so if MIA can get some climate change cash….no problem.

    Liked by 1 person

  • Piece…ya notice as soon as the yardfowls don’t like what is being said…it is drivel…lol

    At least Enuff in Wonderland 68 got the good sense to keep quiet these days, he is worn out with poison Koolaid..

    Liked by 1 person

  • They are acting like we are the ones got the scandals coming at them at warp speed;

    and we are the ones steal the old people’s estates and calling their names on FACEBOOK for tiefing it;

    and we are the ones marinated in corruption and blaming it on them;

    and we are the ones ripping off pensioners and vulnerable people to protect their corrupt friends so that they cannot be held accountable;

    and we are the ones promised the population to fix the Supreme Court, get rid of the corruption, pursue the DLP ministers for the thefts…and RETURN THE HUNDREDS OF MILLIONS OR BILLIONS OF DOLLARS STOLEN…back to the PEOPLE who it was originally stolen from…

    Lorenza…if Mia would lock up her DLP friends and minority masters and return the people’s money to the treasury and pension fund…you will have no need to ask that question…because JUSTICE will have then been SERVED.

    Ya see we realize from that joke of a press conference that neither Dale nor Mia seem too keen on seeing justice SERVED for the people who elected them…or we would have already seen someone arrested AND CHARGED…

    Liked by 1 person

  • “The Attorney General said that while the Barbados Labour Party (BLP) was not totally aware of the levels of corruption in the island while in opposition, they have begun to uncover “startling” information:”

    I just saw this in a Loop article..this level of lying takes A LOT OF NERVE.

    Let’s see how long those nerves will hold up for..

    Giving thieves time to come to jesus is not the same as recovering the people’s stolen money….I don’t know why Mia is muddling this with crap…one has nothing to do with the other…ya can call them to jesus after ya have arrested their asses….but get the people’s money back..

    Liked by 1 person

  • Lorenzo go back to yuh hiding hole but before you do ask Mia how much more pain she has in store to brek the backs of bajans

    Liked by 1 person

  • @Hants
    I haven’t used most of their services, save satellite TV, in years. And they contact me, cause they want me to get rid of my packages, which permit four locations for one price in Ontario.

    Like

  • @Lorenzo
    “,Waru /Well Well,the idiotic Mariposa,T Inniss,Piece,Theo Gazzerts,Sargeant,Hants,,,,Hal Austin and some newbie Truth,”

    How dare ypu put me in that group? I am not an economist and I don’t play one on BU>.

    However, I believe that Mugabe “got this”. I believe that having the “terrorist land thief” and his accomplice as Minister of Land and Housing and as Attorney General was a brilliant stroke – foxes guarding the hen house. The integrity legislation is flawless. It would be tough to find a better barber than Mugabe – keeping old folks well shaven
    .
    Just like you, I drank the koolaid.

    Like

  • lol..ah can’t wait until next election..

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  • @Hants
    I have Rogers but all my services are discounted and long distance calls in NA are included, my Netflix package is courtesy of a US relative so I don’t pay. I use facetime to speak with close relatives in Bim.

    Rogers just upgraded my neighbourhood and is trying to sell me Ignite,4K and their credit card, I just ignore their calls.

    Like

  • ” White Oak Advisory LTD is acting as financial advisor to the Government on its Comprehensive Debt Restructuring Programme. Cleary, Gottlieb, Steen & Hamilton LLP is acting as legal advisor.”

    http://www.nationnews.com/nationnews/news/204864/creditor-support-comes-debt-exchange-offer

    Like

  • @Lorenzo
    Sorry to have disturbed your reverie but if you have me linked to Economists you should get your eyes checked and your brain examined.

    In the meanwhile this is for you, try to sing it every morning before coming on BU
    There’s a bright golden haze on the meadow
    There’s a bright golden haze on the meadow
    The corn is as high as an elaphant’s eye
    And it looks like it’s climbing clear up to the sky

    Oh what a beautiful mornin’
    Oh what a beautiful day
    I’ve got a beautiful feelin’
    Everything’s going my way

    All the cattle are standing like statues
    All the cattle are standing like statues
    They don’t turn their heads as they see me ride by
    But a little brown maverick is winkin’ her eye

    Oh what a beautiful mornin’
    Oh what a beautiful day
    I’ve got a beautiful feeling
    Everything’s going my way

    All the sounds of the earth are like music
    All the sounds of the earth are like music
    The breeze is so busy it don’t miss a tree
    And an old weepin’ willer is laughin’ at me!

    Oh what a beautiful mornin’
    Oh what a beautiful day
    I’ve got a beautiful feeling
    Everything’s going my way
    Oh what a beautiful day

    Oscar Hammerstein

    Like

  • https://barbadostoday.bb/2018/10/15/franklyns-damn/
    “…The unions are being outfoxed and outmanoeuvred . . . . The unions don’t have the support of the country because they have been neutered, their balls are cut,” said Franklyn, as he repeated prior claims that the NUPW and BWU were in bed with the administration…”

    Like

  • I (for one) glad that the Unions have been outfoxed and outmanoeuvred ..couldnt have happen to a bigger bunch of losers
    Not only have they been neutured they hands and feet have been cut off
    No more midday marches
    No more long hours of TV meeting demands
    And no more strike action
    Finally the Unions have been permanately put to sleep
    What a bunch of losers
    God bless Barbados

    Like

  • Sargeant despite the fancy footwork and pretty words you dodged the question asked how did we get back here?you in my view are just one of the dis gruntled Dems but you have a lot of bellyaching to do.As for Well Well I do not have the time to like you be on this blog 24/7,but enuff is Enuff and I am me I speak for no one and no one but the blog master can stop me responding to your daily drivel when I choose to capiche as I know you have never run any Government yet just your mouth,capiche.

    Like

  • Loraenzo…ah think ah told you all you need to know on the Mia Propaganda link, no need to repeat.

    I am not the one taking taxpayers money in big salaries and feeding them nancy stories and have them sacrificing while the thieves get away and their money and lands remain missing.

    When you make fancy promises during the election and 5 months later pretend to forget you made those promises to the people who hired you, who pay you a salary and get caught in lies and deceit, ya have to deal with it.

    yall need to grow the hell up and stop thinking ripping off Bajans is a blood sport.

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  • @Lorenzo
    as I know you have never run any Government yet just your mouth,capiche.
    +++++++++++
    That puts us in good company e.g. Mia, yuh know I have been mild in my criticism of Mia and the BLP as I believe it should be given time to implement its agenda but I have focused on the nonsensical statements made by some of the Ministers who are just feeling their oats and don’t realize that people are paying attention to their words and they won’t get a do-over.

    Why don’t you relax and take the advice proffered?

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  • @ Sargeant

    I wondered if you understood the verb dissent from the latin verb dissentio?

    “…dissent – verb (used without object)

    1.to differ in sentiment or opinion, especially from the majority; (or the majority, as interpreted by Mugabe, and her followers) to withhold assent with the poochlickers of the Long March visionaries, or to disagree with these accolyes: as in “a few of the citizens dissented from the Mugabe decision to steal their bond holdings and confiscate their property through the Bond Holder Act of 2018”

    2.to disagree with the methods, goals, etc., of the Mugabe, sorry the BLP party, and current government, and take an opposing view pertaining to the unilateral pernicious Breach of Contract in the matter of these Government Bonds.

    3.to disagree with andvehemently reject the doctrines or authority of this established group of Brownshirts, a group which has shown that it cannot be trusted, as is evidenced by its systematic, and ongoing, breaches of trust while changing the Constitution of Barbados on a fly, to import 3 senators. Further its changing of the Laws of Barbados to fleece bond holders and its disturbing commensurate changes to the Laws of the country as in its Enablement Act of 1933 which more of you know as the Integrity Legislation facade of 2018.

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  • Sargeant what advice is that,you all Dems need to relax and get off the lady,s back to see if the policies work or not.,and you still have not answered the question.Well Well,you have evidence carry it to the DPP,instead of hiding behind a computer hurling accusations,grow some balls.As far as being a yardfowl is concern I support Ms motley who have a tough job on her hand because of mismanagement by the Dems,and like most Bajans willing to give her a chance,so as I stated to you,you speak for yourself.

    Like

  • I don’t know who or what these think this is..no one likes let alone trust politicians/lawyers/governments…not in 2018..

    Yall are getting heavy salaries, just do ya damn jobs without TIEFING from the people AND selling them out…cause the people done know that every time yall open ya mouths it is another lie.

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  • Lorenzo…5 months later and yall still don’t have a FUNCTIONING court system…what DPP what..ya have someone collecting a DPPs salary from taxpayers, but that is all….

    …the embattled and heavily exposed AG cannot even get the Commissioner of police to follow up on a criminal complaint…made by him..what is he collecting a salary for…

    So when will the supreme court move back to the Whitepark Road..it was only supposed to be at Manor Lodge for a few months..

    Don’t forget…Mia is the one said she had all the evidence of DLP corruption…so why don’t SHE take all that evidence to the DPP.

    DLP yardfowls said much more than you and for many years longer….and look where they are today..

    Liked by 1 person

  • Well,Well all you doing is looking for excuses ,you were on here everyday lambasting Mr payne and Mr Marshall that has come to nought,carry your evidence forward and start the ball rolling.Stop hiding behind the computer you do not have to wait on no one,but like most you are a bullshitter just run your mouth 24/7.to make yourself like the shite conspiracist,known only for stupid cartoons to make yourself sound important.As I stated to you speak for yourself you are one person with one vote like I told Pachanama who used to speak about we and since the redwash seems to have gone Underground.

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  • oh dear oh dear de ole man seems to have offended someone here has he not?

    It has become evident that the Stoopid Cartoons are being very effective.

    Just by way of FYI for those of you you understand these battles and how they are fought

    I shall carry a few of you down the annals of history with a battle which occurred around September 480 BC.

    The Battle of Salamis was a naval battle between the Greek City-states and the Persian Empire of Xerxes I.

    The Greek City-states navy was led by Eurybiades and the very important Themistocles while the Persian Navy was commanded by Xerxes I and his two Generals Artemisia I of Caria and
    Ariabignes.

    Interestingly enough, for those of you who give a flying badword, this was the very first recorded Stoopid Cartoon

    The battle was documented by Herodotus, and there is a similarity between the questions that the protagonists of that battle, the Greeks and Persians, were asking at that time and what we persons in this BDLP duopoly ask of ourselves now “Who am I? Where am I from?

    And more specifically, which team am I on THE BLP, THE DLP or am I a supporter of neither but am a Barbadian.

    Now, wunna done see why dem ent like de ole man causing dem still at this Mugabe Suck Poochism and cannot move from there.

    But I digress,

    Herotodus reports that Themistocles, mindful of the bloodlines between the waring sides, and with consideration to previous cross cultural “pollinizations” between the two nations, used some large cloth signs on the sides of the cliffs that sought through the language used, to get warriors in his opponents armies, to defect to his side.

    And it would appear that, these close to 2500 years hence de ole man’s stoopid cartoons are achieving equal, IF NOT SUPERIOR RESULTS, with these sheeple whom will soon come back and say baaaaaaaaaaaaaa” heheheheheheheh

    Watch how easily they will get incensed and rush to respond heheheheheheheh, all two uh dem

    And so to aid them on here is indeed a cartoon that shows the true mettle of the BLP

    Like

  • @ pieceuhderockyeahright

    The best things about being a Government Minister other than the $100,000 plus a year salary.

    Luxury cars and SUVs with soft suspensions and TINTED windows.

    Then there is the free food, free travel and other freeness.

    All they have to do is pretend to work and talk bare shiite.

    Liked by 1 person

  • Piece…we are very effective, the yardfowl is whining consistently and seems to be stuck on us..lol, from experience we done know they are being stung…because the yardfowl is crying and crying,

    Don’t know why Lorenzo is so concerned though when Jackie is even more effective with her daily videos on FACEBOOK…streaming worldwide FROM UK..exposing Payne, Marshall, Cow, the corrupt Judges at the supreme court and the whole government and their dirty ball of wax DAILY..and daily other people are joining to stregthen the fight…so tek dah.

    ..we are just the usual BU…gnawing away at corruption, the tiefing lawyers and government ministers…we are not doing anything differently to what we did before and BLP was more than happy then to watch us decimate their partners in crime in DLP…to help them win the election, frauds that they all are…but now, since the election..

    …, THE SHOE IS ON THE OTHER FOOT…lol

    What they did not realize is, we were not helping them win an election, we were helping DLP…LOSE the election. .BUT…it is their turn now…see, be careful what ya wish for, ya might get it..

    Whatever yardfowl…ya really think that useless talk means something, yall have already been DEFANGED and are now being watched by EVERYONE across the globe..so idle threats will return in the form of KARMA…and yall done know how I dish it out, just keep testing me and see..

    .. I am only ONE PERSON…yall got a lot of us to attempt to pass through.

    Liked by 1 person

  • This is what yardfòwls should be worried about…allowing wealthy criminals into the island, selling out the people for a mess of pottage..and a current government being exposed worldwide as harboring thieves and abusers of the elderly as government ministers, well let’s just say, yall will not move off that blacklist any time soon.

    https://barbadostoday.bb/2018/10/17/barbados-blacklisted/

    “The forum of the world’s richest nations has placed Barbados on a blacklist of 21 countries whose so-called “golden passport” schemes are deemed a threat to efforts to combat tax evasion.

    While Barbados does not have a citizenship-by-investment (CBI) programme, this country was placed on the list because of its provisions for a Special Entry and Residence Permit, according to the report.

    The Freundel Stuart administration had offered High Net Worth Individuals the option to be granted indefinite Special Entry Permits. The Special Entry Permits allow non-nationals to enter and depart from the island as they wish, as well as stay for indefinite periods of time.

    According to several offshore finance and expatriate advisory websites promoting the initiative, non-nationals with a net worth of over US $5 million were to find “making a living, working and retiring in Barbados easy”.

    Liked by 1 person

  • I see the Transport Board is unable to account for $48.5 million in …. of all things … income!!!

    Man, maybe the $15 billion debt is just make believe!!

    Liked by 1 person

  • Well well all I told you is to speak for yourself,capiche ,I do not know you ,do not wish to know you as nobody voted for you or the shite conspiracy theorist.Go look for something to do instead of pimping about on BU.I am not interested in what you know about politicians,carry it to the DPP,as none are family to me.You are a know all bullshitter with a huge dose of self importance,but you will never impress me,J/A.Bajans elected The BLP to run the affairs of Barbados for at least 5 years and 90 days not you put that in ya pipe and smoke it,you got a lot of ranting and raving to do.

    Like

  • yardfowl…yall know why my thunder cannot be stolen….

    …I am not doing this for bribes, or any financial gain;

    .. or to deceive the people of Barbados;

    .. or to help politicians/ministers/lawyers steal from my own people, as yardfowls do and are famous for;

    .. or for recognition or for any fame and glory;

    …I do it because it is the responsible thing to do if ya are going to uphold each others human rights…and that is why it is so successful.

    What yall need to put in ya pipe and smoke is that the spotlight now shining up your asses that ya cannot shake or get rid of no matter how many lies ya tell or deceit ya bring with the Mia and Dale Show……aint going nowhere for 4 years and 7 months….people love the entertainment, it is a blast and the right thing to do ….so just like the blacklist yall now stuck with, get comfortable and get used to it..

    How Mia ever thought she could bring a 1950s archaic style of governance to a population that already has it’s mentality FIRMLY embedded in the 21st century of 2018..the 3rd quarter of the 21st century…is what yall should be worried about..it just goes to show the backward useless mentalities of the government minister/lawyers involved.

    watch muh nuh…cause. yall still ain’t see what is really happening here..

    Liked by 1 person

  • The Unions have lost ground and footing to stand up to govt
    PMStuart had warned them when laying with lions the inevitable happens
    Govt restructing program would gut the civil service to bare bones
    After which inefficieny in regards to service providers would be worsened
    After which the people tolerance would for increasing poor service would reach an all time high
    The IMF program is not geared to help the poor
    But as a collection agency geared to service the debt in a timely manner for financial agencies

    Like

  • I don’t know why Lorenzo yardfowl don’t find something better to do other than pimping for a government…pimping for corrupt ministers/lawyers is NOT a real job..

    …go feed the HUNGRY and HOMELESS or something equally useful, it is much more satisfying. AND rewarding.

    Like

  • Well Well as Enuff told you do not even know Roleric Hinds ain,t the MP for St Thomas but think that you are so intelligent,look get lost woman you are a nuisance,on the blog,again I state I care nothing about what you know or don,t know,carry it to someone who cares J/A,.I done with you.they will soon carry you and the other know all to the mental.

    Like

  • Vincent Codrington

    @ PUDYR

    Please alert me when the real David BU is on duty .I have been blocked for asking how we reached here ?

    Like

  • Lorenzo yardfowl…compare that idiocy ya spouting to the fact THAT YALL STILL CAN’T SEE WHAT IS REALLY HAPPENING…and WHEN yall finally find out…ya will realize that there is nothing yall can do about it..

    really…you really parroting Enuff in Wonderland 68…who is still waiting for his 69…(Piece ..how ya like that one)….and who poisoned himself with enough Mia Koolaid to kill 5 elephants….and who now has to take a big break from BU……really…lol, lol, hahahahahaha…murdahhhhhh!!!!

    Like

  • Speak your truth quietly and clearly, and listen to others, even to the dull and the ignorant [and the so-called nuisances]. They too have their story.

    BLP BEWARE!

    Liked by 1 person

  • Seems like the 30:0 drubbing of the prior administration has already lost its effect. Some supporters of the new administration are exhibiting on this blog the same “like it or lump” it “we are in power and you’re not” attitude that characterized the Rejected Ones. Five years is not as long as you think and the historian’s pen will not run out of ink. That may have been the first 30:0 shame but it does not have to be the last.

    Like

  • @Donna

    Agree with you, it is the script from Animal Farm we are familiar.

    Like

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