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kevin-greenidgeA couple days after Prime Minister Mia Mottley delivered an address to the nation with the Attorney General Dale Marshall in attendance- we have been informed that Dr. Kevin Greenidge, the Barbadian IMF economic advisor on secondment will provide an update on the BERT Program at 11AM.

The blogmaster has promised not to bare the knuckles with heavy critique of government’s policies until after six months to give the new government a reasonable time to signal to the country how it intends to tackle the huge economic crisis we have been gripped since 2008. Although only five months since the Mottley government won the 24 May 2018 general election in unprecedented fashion the blogmaster feels compelled to emit a growl to show concern given the parlous state of affairs.

In stark contrast to the former Stuart government- labelled the government of silence- it is obvious the incumbent sees a good communication plan as critical to successfully implementing its austere policies. In recent weeks the blogmaster has become wary that the type of information being shared has shifted into the realm of propaganda. It is important Mottley does not betray the unprecedented trust the electorate has deposited on her wide shoulders. She is reminded that to whom much is given much is expected.

Clearly the optics of appointing the largest cabinet in our history does not fit well in the minds of many Barbadians, especially the political partisans. It does not matter that the salary cost to pay the large Cabinet and consultants is negligible in the context of government’s budget or that it compares favourably with the former government. An important trait of a good leader is to exude and demonstrate empathy. The message of government to gain buyin of the citizenry will lose credibility if those being adversely affected by BERT I do not perceive that elected politicians are not equally feeling the pinch. She can initiate the best strategy by over communicating with the electorate, it will not work if the actions of government are perceived as ‘impersonal’.

Clearly the decision to touch the Barbadian middleclass  AND body corporates in the ‘pockets’ has served to attune many to the serious state of the economy. It should serve as a reminder to a disengaged citizenry that it should hunt 24/7 for ways to actively participate in government. The blogmaster and members of the BU family have been warning this day would come when the government is forced to siphon from the saving of Barbadians to support the unsustainable policy of unbridled conspicuous consumption.  All of the economic indicators paint the horrific story. What is unfortunate although understandable is that it only when people are personally affected that they respond. For years the Auditor General has detailed cases of malfeasance that the important working committee of parliament – PAC – has failed to pursue.  For years we have witnessed bold face evidence of contracts awarded to the ‘boy’ as a way of legally channelling tax dollars into the pockets of a few. For years we have witnessed the mismanagement of SOEs because of successive government giving jobs to the boys and girls and not others who are more competent. BU’s pages are littered with ALL the examples to explain the current state of the country finds itself. The few examples are symptoms of the decay that has been gnawing at the bowels of our society for years.

While the focus is on the economic performance of the country we should not forget there is also bound to be a negative impact on the social landscape.

There is no doubt the country has to suffer more pain in the continuing attempt to extricate itself from the economic hole it finds itself. Barbadians were asked to hold strain for 10 years by the former government, this will not make the task of the incumbent easy. It is very important the Mia Mottley government takes decisions which demonstrate she is walking with and holding hands of the people who will have to suffer more pain. We understand her challenge of keeping a large backbench ‘happy’. The blogmaster suggests she will have to give the electorate credit for dealing with backbenchers that will risk destabilizing the government at this time for less than honourable reasons

Mottley is a millionaire, she is not in the seat to secure a salary. Do the right thing and stop the pandering to interest groups in and out of the party!

 

 


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186 responses to “No Time for Propaganda Mia!”


  1. Mia’s best bet is to get rid of that 1950s style of governance, it serves no useful purpose in 2018 …not with an electorate and informed Bajan population that are now ALL wide awake…she needs to stop double teaming with Dale Marshall to insult the people’s intelligence…

    …..the people that backward style of governing would have worked on, grandparents and great grandparents have either already passed on or are now in nursing homes…there are not many people left who can be bamboozled and betrayed by useless self serving governments…

    …even the people of St. John woke up…that should have been a real warning for this government not to practice the same slimyness against the people and expect the same results.

    The Mia and Dale show is a huge FAIL..they convince no one but the deaf, dumb and blind…and she should not have him there making an idiot of himself until he can tell the people who has been arrested for stealing their money and land and sinking the island into poverty and scandal..no one is interested in hearing anything else from either of them..

    When she brings maturity to the table instead of antiquated 1950s slimy tricks, then the response will be more favorable.


  2. How can a cabinet by Mottley of 26 ministers and 2 parliamentary secretary be the same as 16 ministers and 2 parliamentary secretaries ?

    So many persons have pointed out that you don’t arrive at the total cost of that big cabinet by only adding up the ministers salary and multiplying by 12 – but you have to add all the new staff that is created when you create all these mek – up ministeries.

    .

    Each minister must have a permanent secretary so you add their salary and multiply by 12
    .

    Each minister must have a secretary and at least 2 clerical officers -so you add their 3 salaries and multiply by 12
    .

    Each minister must get a personal Assistant and their salary start at $6,000.00 per month – so multiply that by 12 and add to the others.
    .

    Then you have to get new stationary with new letter heads ,stamps etc reflecting the name change of the new ministry.

    So when an article starts off with an obvious lie that the cost of Mia’s large cabinet is almost the same as the smaller one of the last government – I will find it hard to take this blog seriously.

    WE SHOULD ALSO REMEMBER THAT WE HAVE NOT ADDED THE COST OF THESE CONSULTANTS – WHOSE SALARIES WE DON’T KNOW – LIKE AVINASH PERSAUD,CLYDE MASCOLL,BILLIE MILLER,PAT PARRIS,JESSICA ODLE,MS BABB,COMMISUNG,ANOTHER YOUNG FELLA WHO THEY SAY IS A TSAR,PAT PARRIS WHO WAS HER ASSISTANT WHEN SHE WAS OPPOSITION LEADER – STEUPES

    Yet the pensioners and the working and lower middle class must bear all the burden of the excesses of MIA AMOR MOTTLEY CRAP.

    If yuh start wrong yuh will end wrong ! ! !


  3. The political class appears to be exempt from austerity measures.
    Austerity for everybody except the political class.
    Send home some of the UWI educated sloths drawing big salaries for doing nothing.


  4. We see in Today’s Nation that the overseas Company White Oaks is acting as financial advisor to the government on the debt restructuring programme.

    Now pray tell me – if you are paying this foreign firm – and we are yet to be told how much you are paying them – but don’t expect those “journalists” or people who are pushing Mia’s propaganda – to ask these questions and show up the govt – then tell the people WHY DO WE NEED

    Kevin Greenidge from the IMF Office – and how much is he being paid
    .

    Why do we need Avinash Persaud – and how much is he being paid
    .

    How much are we paying Clyde Mascoll and why do we need him

    You all see how Mia is squandering money we have – and boasting about how she is able to borrow and borrow and borrow and all we can read in the Nation newspaper and hear on VOB radio that this money Mia get is so unprecendented because she got it in quick time.Again pushing the BLP propaganda.

    BIG JOKE.

    AS ALBERT BRANDFORD SAID IN HIS COLUMN 2 WEEKS AGO – THE USUAL AMOUNT THAT IS GIVEN BY THE IMF AS AN EFF IS 350 % OF YOUR QUOTA – BUT THEY ONLY GAVE MIA 220 % – WHICH IMMEDIATELY TELLS US THAT THEY HAVE NO CONFIDENCE IN HER ABILITY TO MAKE A POSITIVE DIFFERENCE TO BARBADOS’ ECONOMIC SITUATION WITH ALL THIS BERT PLAN AND RE – RE STUPIDNESS.


  5. A couple days after Prime Minister Mia Mottley delivered an address to the nation with the Attorney General Dale Marshall in attendance- we have been informed that Dr. Kevin Greenidge, the Barbadian IMF economic advisor on secondment will provide an update on the BERT Program at 11AM.

    David BU

    Interesting article

    I listened to Sunday’s “address to the nation”……. and was eagerly awaiting Dale Marshall’s “turn at the mike,” after Mottley said he would talk further about the alleged corruption they “discovered” on assuming office.

    Marshall made broad statements by inferring from what he previously mentioned during the first press conference…… “a generalized regurgitation”………. of the allegations of corruption and malfeasance by members of the former inept DLP administration, as it relates to the renewal of employment contracts of DLP operatives months before the said contracts’ expiration dates and payments of exorbitant legal fees days before the general election.

    I gave the address an “A”……. A for “A waste of time.”

    As it relates to the issue of “Dr. Greenidge providing an update on the BERT program,” I understand the thinking behind this ”strategy.”

    Wunnuh dun know how Bajans duz operate…….with whom do you believe most Barbadians would feel comfortable hearing articulate the “intricacies” of BERT………

    ………the Minister of Finance, who everyone knows is a lawyer……….

    …….. or Dr. Greenidge, a Barbadian economist and employee of the IMF, who was contracted by government to render technical assistance in the drafting of BERT and negotiations with the IMF?

    Wunnuh gots to check de “optics.”


  6. I think it is heartless to send home people particularly low wage, semi skilled workers at this time when jobs are scarce. I would institute an across the board wage and salary cuts in bands of 5%, 10% and 15% . I would discontinue all the travel allowances, entertainment allowances etc. The public service does need to be reduced and made more productive but that should be done over 5 to 10 years and only as the economy grows and can absorb retrenched and retrained workers. The Cabinet and the “czars” need to be pruned ..does Dame Billie need a job at her age? McConney,?, Avinash Persaud? Duguid?Payne? Caddle?

    Either ALL are in this together or NONE.


  7. @T.Inniss

    It comes as no surprise the point about a couple million tacked to the public sector wage bill is lost on you. Continue to sweat the little stuff.


  8. Waru or Well Well,since you are a know all like the shite conspiracy theorist Piece tell me which government you ever run which qualify you to be talk of Government styles?Here you are talk about the presentation of Ms Mottley and Mr Marshall was a huge fail,you must add in YOUR OPINION,and you are one person ,certainly not in mine,so do not speak for me.You need to take a rest before you like Piece get a heart attack since from what I see and hear on the ground most people are willing to give the government of 5 months not years a chance,as anyone would be better than the try a thing government of the Dems.Therefore you,Mariposa ,T Inniss and few others can rant and rave every day,for at least 5 years and 90 days and in my view another 20 years it will not help you nor Barbados.Suddenly these Dems are experts at everything as I hear Mr ellis entertaining a few of them everytime he is on for over 30 minutes,really annoying to be honest,after their redwash,who the hell want to hear you all.What I would like you experts to answer is the question of Sir Lloyd Sandiford as to how we got back here,to have to take these measures..


  9. We understand her challenge of keeping a large backbench ‘happy’.
    +++++++++++
    “backbench”? What large “backbench”? Almost all the MP’s are either Ministers or Parliamentary Secs. Another moment of levity from the blogmaster


  10. @Artax

    The talk by the AG that it will tak months and years to call people to account for obvious corruption is not acceptable. We have heard it before.

    The PM and AG have stated there is evidence contracts were awared withiut following the procurement rules. At a minimum we should be able to fire a PS. It may force “evidence’ to appear.


  11. @Sargeant

    They are ministers in title only. For the purpose of the political many are backbenchers.


  12. Why is this government insisting on having technocrats explaining its economic policy to the general public? Is this what they believe is the Westminster/Whitehall model?
    If you are sacking public sector workers that must be made clear by an elected official – someone the public can remove if they do not like the policy.
    A PhD in economics is no guarantee of rational policies. I have said before, neo-classical economic theory failed the global economy in 2008, yet, unbothered, leading policy-makers continue to press this redundant theory on national economies as if nothing had taken place.
    Let us have a national debate. I suggest that David BU, or the editors of our national newspapers, or producers of news and current affair programmes get people on to discuss/debate these issues in the public interest. And, if any of the policy-makers decline to take part, then make it public.
    I have said before, local publications can easily commission leading global economists to write about the local economy. The crucial point is that they have to be paid. But, what is a few pounds if it means getting different ideas to the local rent a quotes.


  13. @David

    “Continue to sweat the little ”

    David it’s time to STOP SPEWING this CRAP. It’s all these LITTLE’s that add up and THEY ARE CONTRIBUTING to the PROBLEM, NOTHING is excusable.

    Time for you to WAKE UP and SMELL THE ROSES.


  14. “you must add in YOUR OPINION,and you are one person ,certainly not in mine.”

    yardfowls don’t count.

    “You need to take a rest before you like Piece get a heart attack.”

    No rest needed, some people have heart problems, I dont….taking a rest means more old people’s land stolen by lawyers, ministers etc, more CLICO crooks on the Pension Fund board to rip off old people, no fix at the Supreme Court, more injured people ripped off by insurance companies and their dirty lawyers, no one being held accountable in DLP for tiefing the people’s money, or if any money is recovered, it gets stolen by the usual crooks in the Mia government…I could go on, but you know what I mean….

    ya really need to read the comments on ALL of social media…you are only one yardfowl..


  15. The national Debt Restructuring for DOMESTIC DEBT is just the first haircut trim, the final shaving will come several years down the road when the country’s finances have not improved and once again they fail to settle. The only hope for future settlement is in DEVALUED BARBADOS DOLLARS where debt holders are returned pennies on their original investments.

    Now the international debt holders can scuttle the WHOLE PLAN if they are not willing to negotiate DEBT RESTRUCTERING and put Barbados into International Court, ie Argentina.


  16. What steps have Mottley taken to show that she is seriously cognizant of the pain and pressure average bajans are under.

    There are the obvious first steps like:

    Cutting back the cabinet to about 15. IF WE RECALL DURING AN ADDRESS TO THE CHAMBER OF COMMERCE IN 2013 HERE IN BDOS – MIA MOTTLEY WHO WAS THEN THE OPPOSITION LEADER SAID – PRIME MINISTER STUART SHOULD LIMIT HIS TRAVELLING OVERSEAS AND RIGHT -SIZE HIS CABINET OF 16 OR 17 MEMEMBERS – BECAUSE OF BARBADOS CURRENT ECONOMIC TROUBLES.

    So why are the journalists not reminding her of that?

    WHY IS MOTTLEY NOT TAKING HER OWN ADVICE THAT SHE OFFERED STUART IN 2013 AND RIGHT SIZING HER CABINET DOWN TO 16 ?
    .

    MAI MOTTLEY BADGERED AND HARRASSED THE STUART ADMINISTRATION TO SHOW SOLIDARITY WITH THE SUFFERING OF THE BAJANS CITIZENS.SO, THE LAST GOVT CUT THEIR SALRY BY 10 % FOR A YEAR. HOWEVER, WHEN THEY WERE THINKING OF RESTORING THE 10% BACK TO THEIR SALARY WHEN THE YEAR ENDED – MOTTLEY AGAIN RAN TO THE MEDIA WHO PICKED UP THE BLP CHANT OF – THE OPTICS – AND HOW WILL THAT LOOK TO BAJANS WHO GETTING TAXED SO HARD.

    REMEMBER THAT?

    SO THE DLP CABINET MINISTERS EXTENDED THE 10 % CUT ON THEIR SALARY FOR ANOTHER YEAR.

    AS SOON AS THEY DECIDED THEY WILL GO AHEAD AND PUT IT BACK AT THE END OF THE SECOND YEAR – KERRY SIMMONS, MIA MOTTLEY,DAVID ELLIS,PETER WICKHAM ,THE NATION BLP RAG, AKANNI MCDOWALL (NUPW UNION),TONI ‘POUTING PRINCESS’ MOORE (BWU UNION) AND ALL THE OTHER BLP SUPPORTERS STARTED SAYING THE DEMS GOVT GAVING THEMSELVES AN INCREASE.

    Yet here we have a govt coming in and saying that the financial situation is so dire that she had to DO THE UNTHINKABLE AND DEFAULT ON THE DEBT – and as soon as she get in she gave herself and her ministers a 5 % increase in salary.

    NOTE SHE DID NOT TAKE A 5% CUT BUT SHE INCREASED ALL OF THEM SALARIES.

    At the same time the taxes that she said was killing bajans – she add in some more on top of what Chris had. Wunna realise that except the NSRL – MIA KEPT ON ALL OF CHRIS SINCKLER TAXES ?

    And then she put on new Gas Tax,Tax included on the Water Bill,Health Levy,PAYE TAXES INCREASED,cOMPANY TAXES INCREASE,,FOREIGN EXCHANGE TAX,Online sales taxes Wuhloss people

    And yet she in yuh face saying all are we in this together – while the ministers getting travel allowance,entertainment allowance,duty free cars ,per diem allowance to spend – when they travel overseas – plus first class or business class upgraded travel.

    Wunna better open wunna eyes,Open wunna ears and Open wunna mouth and talk.


  17. @T. Inniss,

    If Mottley is the millionaire she is said to be, and if she is morally and politically concerned about the state of the nation’s finances, may I humbly suggest that she works for a nominal Bds$1 a month and donate the remainder of her salary to the exchequer?


  18. At this point and time barbadians would be mostly listening to there pocket books
    All the long talk by these million dollar paid consultants being used as propganda machines not going to add up to a hill of beans


  19. @David
    They are ministers in title only. For the purpose of the political many are backbenchers.
    +++++++++++++
    Stop with the excuses, her hand wasn’t forced and Mia even imported one from Canada to be among the mostly neophytes in Executive positions.


  20. Hal

    I agree with you ! The blog moderator on here telling us that Mia Mottley is a millionaire and she does not need the money – so why the ars*e she don’t take a token $100.00 per month salary AND SHOW THE PEOPLE THAT MIA REALLY CARES .Lololol.

    Fool yuself with that. Mia more greedy than the best of them – and she likes her cuts just as Lashley and the others.

    She has no children – her family seem comfortable enough – so what all this money grabbing is about ?


  21. and too besides the mantra was “many hands make light work”, yuh can’t have it both ways


  22. @Sargeant

    Not finding excuses. Mia is a political animal wired to make decisions influenced by what she knows. Bringing people from outside for her seems a great decision. People will make decisions based on what they know.


  23. If she cuts the Cabinet what then? The size of the cabinet is optics, it does not attack the need to address the fault lines in the economy which got wider under the last administration.

    You are aware Thompson was also a multi millionaire? You should recall how he acquired his wealth.


  24. Big Steupes.


  25. Richard L Chelteham, CO Williams, David Simmons ,Owen, Mia Were always crooks, liars, scumbags and all are more than that now, Indictments , Extraditions,Land and Money Laundering , Fraud and PONZI is the case, Restore all Public and History Records will show the Truth of what they all are covering up, The United States of America with their new President Trump will go after Deep State and the Kabal and clean the swamp & We Will go and clean our Own Gullies, All need to Be charged and give them bail on the amount of All Monies missing, We shall see who make bail and then to learn how they got all that money. Massive land fraud and PONZI is the case Clear Title is the Cure, We never changing out truth for long talk and lies, better read Plantation Deeds old post to know the real deal,Bajan Free Party/CUP The Crime Minister needs to go , with the AG, COP, DPP ! Rule of Law Wanted,


  26. Mia’s credibity took a nose dive few days after May 25th when she offered giant tax waivers to the rich and has of yet to present a list of names to whom these tax waivers were given
    Another form of stealing from the poor to give to the rich which falls in line with similar actions imposed on pensioners savings which will be used to pay big bellied local and international financial institutions
    God Bless Barbados


  27. You are aware Thompson was also a multi millionaire? You should recall how he acquired his wealth.(Quote)

    I take it that David BU has seen David Thompson’s probate report? If he has, it should share it with us, and if he has not, then stop smearing the dead.


  28. @T.Inniss

    You have shown that you lack the ability to be non partisan. If it is a BLP policy it is wrong. Barbados is in a deep Rh hole, there will be more pain. We can exchange notes on who has the greater tolerance level. What the government must prioritize is how it protects the most vulnerable in the country.you Yardfowls can wait your turn.


  29. Not only was he a millionaire, he was a fraud and an incompetent.

  30. Vincent Codrington Avatar
    Vincent Codrington

    @ David BU

    The more things change ;the more they remain the same. Are you surprised that we are doing the same thing over and over again and we are expecting a different result.

    Pay attention to what Hal Austin wrote at 8 :32 AM.

    BERT has not addressed the real problem/s. It will fail spectacularly.


  31. @Vincent

    You not reference was made in the blog to BERT 1?


  32. David/BU

    “You yardfowls can wait your turn.”

    I suppose you were looking at yourself in the mirror when you said that right? hahaha


  33. Not only was he a millionaire, he was a fraud and an incompetent.(Quote)

    I know nothing about your wealth, but from your writings and interventions on BU, you are incompetent and an intellectual fraud. I suggest you post these silly remarks anonymously. You inflict more damage on the impartiality of BU then any of the contributors. Have you seen David Thompson’s probate report?


  34. @David, Did not Mia and Owen declare their assets publicly in 2013. Can you find the file


  35. The blogmaster has been labeled many names in the last ten years, will add your name to the list.


  36. David knows all who are alleged fraudsters in the DLP Camp – but have you notice he can never name one in the BLP.

    I guess they in the BLP are all whiter than the driven snow. Watcha think?


  37. You have shown that you lack the ability to be non partisan(Quote)

    Please! Look in the mirror..


  38. Owen Arthur Declares Assets Also Following Mia Mottley Big Foot Move

    July 10, 2008 Leave a comment
    Awakening from a slumber in time to see Owen Athur speaking I quickly remember that this was Owen time to declare his net worth also. Speaking for an extended period way over the 30 hr time [ probably had a flash back on the Prime Ministrial role] I waited patiently for this eager anticipated news. Mention something about agreeing with ITAL. Had plans. Why was it not implemented?

    Okay I am under the weather if I leave anything out I will update later. Here go.
    Assets

    House at Westmoreland – $683,000
    Gratuity – $384,135.82  [pay as former prime minister]
    20,000 shares in I.C.B. –   $79,000
    2 life insurance policies – $161,000
    

    Liabilities

    Mortgage – $366,000
    Scotia Bank loan [daughter UWI] – $69,000
    Visa credit card [bal] $23,000
    

    Something about tying up business for father and a car loan re Consolidated Finance. Later.

    Okay folks I’m back with you again. Been taken care off by the lovely wife whom I suspect figure the sooner I’m back on my feet the quicker the money can start rolling in again. Wives are smart that way. Especially when it comes to money. I see the Nation have a bit more info on Owen declared assets following Mia big foot move. Yeh it was a big foot alright. Can’t get more Bajan than that! But let face it. It made a mockery of the whole exercise of integrity short of an verification process. Reeling assets off a 4×6 sheet in Parliament insults the intelligence of Bajans. Owen 1.5m net worth also includes but never mentioned in Parliament,
    Nova Scotia

    Savings accounts – 25,146.41
    Terms deposits – 23,767.03           
    Current account – 26,360.33
    

    First Caribbean

    Current account – 7,950.25
    Term deposit – 86,480.95 [would this include the 75,000 cheque?] and saving bonds valued at $50,000.
    

    Then came the comical part “the Weekend Nation questioned Arthur as to whether or not there were other assets that might not have been declared.” I don’t recall the Nation attributing that question to Mottley.

    https://bimchat.wordpress.com/2008/07/10/owen-arthur-follows-mia-lead-declaring-assets/


  39. Mia can doubled up her optics. . People already have been exposed to the damages and are fully aware what to expect
    People by nature practiced selfpreservation and govt has already acted in ways which will force them to act for their own survrval
    These five years will force govt to come to a realisation that people will repulse and refuse to eat eagerly of the bitter fruit
    The IMF is here for only one reason and not because they Love Barbados


  40. Opposition Leader Mia Mottley Declares Assets – Tek Dat And Dat And Dat

    July 10, 2008 2 Comments
    Describing the Budget Speech as a Karaoke Budget [lot of noise and no substance?] Opposition Leader Mia Mottley decided to declare her assets and liabilities during her reply to the Budgetary Proposals by PM David Thompson.

    The only bright spark coming out of her 4 hour response, Mia Mottley in declaring her assets and liabilities has score a first. Not only is the parliamentarian the first to publicly reveal her worth but did it before any government ministers. Challenging governments ministers to do likewise saying that “she was satisfied that MP’s who wanted to serve in public life would have to face the legislation,’ Mia with nothing to lose hurriedly hit a six exposing her net worth to all and sundry in an attempt to show up David Thompson on the fool hardlyness of implementing Integrity Legislation [ITAL] in 100 days upon assuming office. Taking advantage of this Mia Mottley “tek dat’ attitude not only guarantee points in her corner but if nothing else forever branded in the minds of Barbadians history in the making on July 08 2008. Even for those with long term memory who may forget her reply all together.
    Document Dated June 30 2008 [ Assets $3.5m, liabilities $1.5m]
    Assets Are As Follows:

    Houses at Frere Pilgrim,  Lodge Hill and land at Cattlewash;
    Three bank accounts; one vehicle; a credit union account; shares and mutual funds;
    Part ownership in St Lawrence Management Inc. (which owns a condominium) and Barefoot Chattel Resorts Inc. and is settling a partnership agreement for 50 per cent of E.D. Mottley & Co. plus salaries from that company
    And as Leader of the Opposition plus $4 000 a month in rent from Frere Pilgrim. Source : The Nation
    

    Having recover from that masterstroke [?], we await government’s reaction to Mia Mottley’s challenge.

    https://bimchat.wordpress.com/2008/07/10/opposition-leader-mia-mottley-declares-assets-tek-dat-and-dat-and-dat/


  41. At the time Ms Mottley had declared assets of about Bds$3m (or US$1500000, or $1m). The average UK property is £250000 or Bds$750000.
    I remember a leading QC politician telling me that junior lawyers in his chambers disliked so-called returnees who come to Barbados with over Bds$1m in assets. He told me that they reasoned that they went to university and most of these returnees worked on London Transport and the national health service, yet had more material assets than they. I asked him if he had explained to them how these people were treated in the UK as they worked to accumulate these assets.
    The conversation came about because I was trying to get a mortgage lender to enter the Barbadian space (David’s favourite word) to give the banks competition. This man was looking for a local lawyer to Barbadianise his legal documents. His corporate lawyers were based in the UK.
    The junior lawyers in the QC’s chambers had promised to provide him with a service, which they failed to. I complained to the QC and met him for a meeting at the high commission – along with this CEO of the firm. The QC spent a large part of his time talking himself out of business. At the end of the meeting the CEO thanked him, said he was still interested, but wanted to concentrate on lending in Spain.
    We have a serious cultural problem in Barbados.

  42. de pedantic Dribbler Avatar
    de pedantic Dribbler

    Ah Mr Blogmaster….now that (…he was … an incompetent) is smearing the dead 😂.

    He fits well the other descriptors I would agree but it’s beyond strange to label him incompetent.


  43. How was Owen able to gift Cricket Legends of Barbados $250,000.00 dollars (a quarter million) on those income?

    Did Mia declare her ownership in Jose Y Jose business?

    Did she declare her ownership of the townhouses/Apartments at the bottom of Rendervous Hill and Worthing?

    Did she tell us of any overseas bank accounts.

    Look let me stop here because the hypocrisy of this would make you vomit.


  44. David BU, have you seen David Thompson’s probate report? Until you have all other claims are gossip. Probate reports are public documents, go and read it. Have a look at his will. Or, as you obviously prefer, gossip is preferable to facts.


  45. Hal Austin you on here attacking the blog master for stating what most in Barbados know that Mr Thompson was incompetent dishonest and in my view a bullshitter and a fraud.This tells me you know nothing of the person.

  46. NorthernObserver Avatar

    CIBC, RBC, Scotiabank facing fallout from debt restructuring in Barbados Globe& Mail p2 Oct 15

    A trio of Canadian banks is facing the fallout from a debt restructuring in Barbados that will slash the value of hundreds of millions of dollars worth of government paper they collectively own.

    Canadian Imperial Bank of Commerce, Royal Bank of Canada and Bank of Nova Scotia are the largest lenders in the Caribbean, and each has direct exposure to Barbados. The country is home to one of the region’s largest economies, but the government’s finances have deteriorated over time. In May, a new prime minister, Mia Mottley, was elected and she has promised to make fiscal responsibility her top priority.

    To help turn the economy around, the International Monetary Fund is working with Barbados to formulate a financial rescue plan. As part of this effort, the government proposed a debt restructuring in September that would amend the terms of its existing domestic debt. On Sunday, Ms. Mottley announced the restructuring plan will proceed.

    Through the restructuring, Canadian banks will face losses on their debt holdings because Barbados has forced them to hold a greater percentage of their reserves in government debt, to help fund its deficits. These securities must now be held for much longer, and their coupons will also be cut, so the lenders will receive much lower returns on their money.

    The total impact on Canadian lenders is still being calculated, but the three affected banks hold a substantial amount of Barbados debt. As of January, 20 per cent of their Barbadian reserves had to be held in government debt.

    CIBC is the only bank of the three that has disclosed its exposure. In a regulatory filing earlier this year, the bank’s regional subsidiary, FirstCaribbean, which is based in Barbados, revealed that it had US$506-million worth of exposure to the government through securities and loans. Of that, US$445-million will be exchanged under the government’s plan, and the bank holds another US$30-million in debt instruments for which a restructuring plan has yet to be announced.

    CIBC spokesperson Tom Wallis said the bank accepted the debt exchange offer, “remains fully committed to further negotiations” with the government of Barbados, and “will continue to exceed all of its regulatory and policy liquidity requirements.”

    RBC and Scotiabank have not disclosed the extent of their exposure, but their regional headquarters are based in other countries: RBC in Trinidad and Scotiabank in Jamaica.

    A spokesperson for RBC, Gillian McArdle, said the bank’s exposure to the distressed debt “is limited” and that RBC supported the government’s proposal. “Any potential impact from the government’s proposed debt exchange is not material to RBC,” Ms. McArdle wrote in an e-mail. “We are closely following developments in the country.”

    A Scotiabank spokesperson declined to comment.

    To help fix its finances, Barbados is relying on a common restructuring tactic, often referred to as “amend and extend.” As part of the Barbados Economic Recovery and Transformation (BERT) program, the government will amend the terms of its domestically held debt, and commercial banks will see their holdings broken into different tranches with maturities ranging from five to 15 years.

    The coupons on this debt will also be significantly reduced. Before the restructuring, government treasury bills often paid interest rates around 3.5 per cent, and other government debt had interest rates as high as 7 per cent. Under the new terms, commercial banks will receive 1-per-cent coupons for the first three years; 2.5 per cent in year four; and 3.75 per cent annually until maturity.

    On Sunday, the government said it received the support of 90 per cent of its debtholders eligible to vote on the restructuring proposal. “I’m happy to report that having received the support and the positive vote of all of our banks, our insurance companies … we are now in a position to address their peculiar needs within the next few weeks,” Ms. Mottley said in a public address.

    With this backing, the IMF is now likely to release the full US$290-million it has pledged in financial support, providing Barbados with crucial foreign reserves during the turnaround.

    However, CIBC, RBC and Scotiabank are still wrestling with abnormally high risk in the region. At the end of fiscal 2017, Scotiabank reported $1.2-billion worth of gross impaired loans across the Caribbean and Central America – beating its total of $1.1-billion for all of Canada. In the same period, RBC reported a gross impaired loan ratio of 6.33 per cent in the Caribbean, many multiples higher than its 0.24-per-cent ratio in Canada.

    The region’s woes have hit CIBC particularly hard. In 2014, 58 per cent of the bank’s total gross impaired loans came from the Caribbean, leading to a $420-million writedown on the division that year. In the most recent quarter, CIBC earmarked $44-million to cover expected losses on impaired FirstCaribbean loans, in large part because of Barbados’s financial woes.

  47. Vincent Codrington Avatar
    Vincent Codrington

    @ David Bu

    The relevant reference is :

           "leading policy makers continue to press this redundant theory on national economies as if nothing had taken place ".
    

    A lot has taken place ,before and after 2007. And leading economists at The World Bank and the IMF have written extensively on the inappropriateness of austerity measures with which BERT is laced.
    The lifting tides of economic growth and transformation ,except for trivial nonsense ,have not been addressed.

  48. NorthernObserver Avatar

    “What is unfortunate although understandable is that it only when people are personally affected that they respond.”

    isn’t that the truth.


  49. Lorenzo,
    I would normally ignore you, but fraud is a criminal offence. Has Mr Thompson ever been charged with fraud, or even interviewed under caution for alleged fraud? His clients (juries and judges) will have to vouch for his competence; so will his clients and close friends and relatives for his honesty. That he was a bullshitter, he was Bajan, it is a cultural burden.


  50. @T. Inniss,

    Ownership of limited liability companies is a matter of public record. Property ownership must be registered with the land registry, a pubic record, although we allow some people to use trusts and other devices to shield end owners..

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