Did We Listen to Mia?

Submitted by Kemar J. Stuart, Banking and Finance Student, University of the West Indies

My fascination with finance and budgetary analysis started started at secondary school because of the late PM David Thompson and with my persistence, I annoyed a UWI student at the time to tell me everything he could about finance.

In 2018 I am a benefactor of a Banking and finance education where conversations surrounded the policies of last MOF Chris Sinckler and his perceived financial mismanagement. The highlight being then opposition leader Mia Mottley going as far as no confidence motions, marches and even offering a sound economic point in which I will address.

Most notably in the 2016-2017 Official Budgetary Reply delivered by then opposition leader Mia Mottley on August 17 2016, where she offered a stellar point to then MOF Chris Sinckler. I quote “there is something called a Government Sinking Fund for foreign debt” ‘established under the External loans Act’ “which makes it absolutely clear that proceeds of the Government sinking fund for foreign debt can only be used to service foreign debt”. She highlighted this figure for this facility to be $322 million. She went on to say “the reason why this parliament passed a sinking fund for foreign debt is to make sure that when foreign debt becomes due and payable that the Government of Barbados is in a position to be able to pay because every year it puts aside 2 1/2% of whatever the foreign debt is.”

After such a beautifully orated economic and fact based solution Barbados received it’s first credit default on foreign debt courtesy of ‘I am not sure who’ since there are 3 Finance Ministers and 2 special economic advisors.

For clarity and to give the financial community some sense of stability, can any of the five economic wizards provide a financial analysis of the default with an explanation if the above recommended advice by then opposition leader Mia Mottley was considered before default, the gain/loss on the country’s international debt portfolio and derived benefits from defaulting ,lastly the financial projection of the debt portfolio given that we did not default and gain/loss Associated. Given the butchered approach to financing our interactional debt obligations what if the international community does not take any debt restructuring offers ? Is our special drawing rights going to be sold under the IMF condition to provide balance of payments support if the BERT plan fails?

Through the five of you one of you need to be man/woman enough to face the many possibilities that our financial fortune faces and gives us the raw deal surrounding our international capital market capacity

122 comments

  • *We cannot we cannot escape the quagmire that we find ourselves ….

    Like

  • *We cannot we cannot escape the quagmire that we find ourselves ….
    * “Insanity is doing the same thing over and over again and expecting a different result”

    Seem likes it is going to be a beautiful Friday that is full of typos..

    Like

  • “Economies that generate revenue from a one nest basket and the pain and suffering of the people .”

    That only happened because both DBLP from inception have been BANKRUPT of any original ideas to UPLIFT and ENRICH their own people outside of the bribery corruption to enrich themselves….ya can’t blame OECD nations for that…ya cant bkame them if ya black leaders are TOO DUMB to know the difference. …too dumb to know they should NEVER rely on a one basket economy or on minority parasites to consistently RIPP OFF that economy.

    .
    Blame ya own black governments even 53 years later for not seeing THAT IT IS THEIR OWN PEOPLE they should have enriched instead of taking BRIBES to enrich a minority of goddamn parasites…it is their own people that THEY SHOULD NOT HAVE TAKEN BRIBES to marginalize and disenfranchise, taking bribes from the same OPPRESSORS of your people to keep them OPPRESSED…ya cannot blame OECD countries because YOUR GOVERNMENTS have no vision, they are petty, greedy, trifling and corrupt.

    When these OECD countries SEE black governments finally CARING for their OWN people, like intelligent leaders ARE SUPPOSED TO….then they will show respect.

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  • I repeat, painful.

    Like

  • Small nations need to stop bowing to these right wing economist
    Using black listing as a suttle form of economic terrorism in effort to make these small nations reform and conform to idealogies and theories that only serve these right wing economist
    If these small nations continue to bow at every turn to these organizations they will continue to use the bully whip at every turn to fast pace their agendas

    Like

  • 2020 To Be Bajan Diaspora “Homecoming” Year

    ​2020 has been designated by Prime Minister Mia Mottley as “the year for the Barbadian diaspora to be recognised and for them to be invited to return to their ancestral home.”

    The concept, named “Homecoming 2020 – Year Of The Barbadian Diaspora “will be a Bajan family gathering that will provide Bajans everywhere on the globe the opportunity to celebrate our roots, while generating much needed foreign exchange for the island.

    The “Homecoming “will be a full year of celebrations, with each parish being assigned a month. Expatriate Barbadians are invited to return to Barbados to participate in the celebrations, including Independence celebrations in November and a Bajan Christmas.

    Click HERE to read the details of the initiative outlined in the memorandum from the Prime Minister’s Office to the Ministry of Foreign Affairs. This memorandum has been shared with all Barbadian organizations in Toronto by the Barbados Consulate at Toronto.

    Like

  • And as for the free yardfowl…ah can’t wait for Mia Borrows to ship ya ass off to the middle east.

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  • There goes all the free education
    Mia hire a barrage of consultants
    Hires another set of economic experts that put themselves first
    Nothing brought to table that would benefit the loyal barbadian who worked a.ss off to help build the country
    Now all the spoils( what left) are being handed over to a band of outside foreign influence
    None that we don’t know
    How fking fair can that be?
    When will we learned

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  • Just don’t walk with ya money.

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  • @Mariposa,

    Your political and economic understanding are very perceptive. Ignore the empty vessels that try to abuse you for your party loyalty. Although I have no party loyalty, your arguments are strong.
    The OECD is a club for bullies; they try to force smaller nations in to introducing policies that support their carpetbagging companies; if they do not there are threats, at first words, then trade, if that fails they resort to the military.
    In the Caribbean, just look at the way the RSS is flexing its muscle, supported by the weak-kneed Canadians. It is clear the big nations have allocated the Caribbean Basin to Canada, the same way the Pacific Islands have been allocated to Australia. The US is too global to deal with small fry.
    But the Chinese are upsetting the applecart, which is terrifying the Australians. At some point those nations using the Chinese for cash flow must make a choice – we are on the precipice of a third world war.
    In the Caribbean only unity can save us, but they will pick us off singly – as they are doing. Our modern politicians lack balls.

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  • Don’t mind Mia Borrows, she got the resources to chase down Bajans in the Diaspora to bullshit them with patriotic talk…….but she cant engage outside agencies to chase down the money that was stolen by DLP former ministers, lawyers and business people…the people’s MONEY..sitting in multiple offshore accounts…money that I am told…the THIEVES are AFRAID to touch.so it’s just sitting there waiting to be repatriated to Bajand…..money that should be RETURNED to the treasury and NIS Pension Fund…where it was STOLEN from…

    Bajans in the diaspora need to leave THEIR MONEY right where it is…whenever they are traveling and going around Mia Borrows and her thugs/goons/thieves.

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  • WARU

    “Can’t wait to Mia ship yall ass of to the middle east”

    That statement seems so far out there … why would the prime minister ship anyone to the middle east…? The middle east can be considered a war theater…

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  • Glad that one got ya attention..ya better start securing ya properties and dont tell anyone from the Mia Borrows government ya business or what ya own when ya gone done there wukking up at Q in the Community, you will probably be the FIRST to get robbed..lol

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  • “WARU November 23, 2018 10:02 AM

    And as for the free yardfowl…ah can’t wait for Mia Borrows to ship ya ass off to the middle east.”

    And that is what I said, dont know what you gone changing up shit to suit yaself for.

    Like

  • @ Hants November 23, 2018 10:02 AM

    Wow… what a rewrite and rebrand… PADRYU was right, certainly taking the “Cavalcades” to another level. Why Nazinga?

    Like

  • WARU

    “You probably be the first to get rob”

    If anybody got the necessary balls to rob a town man from the Bush Hall area …

    Like

  • WARU

    Though I walk through the valley of the shadow of death …I will fear no evil … for I am one of the baddest men in the valley …

    I fear no Bajan man … I lived among the badest here … so no little Bajan boy nah hold no fear for me …

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  • The only lesson being learnt by those who are not close to St. Cyprians Church or Lionel C Hill Supermarket, is that the we have a one party state:BLPDLP.
    Those who fail to recognize this should be allowed the mercy of being left alone to quietly evaporate into the political nothingness , where they belong.

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  • William Skinner

    I knew Lionel C Hill as a child attending to school at Roebuck Boys Primary in the early 70s … the old supermarket was on the other side closest to the Metropolitan and Harrison College …then it moved next to our school …

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  • If any one has been following the stock market in recent weeks
    These sharks (Coporate) who rely on these organizations for suport would be out in full force as the voiatile nature of the stock market in recent weeks would send the sharks looking for safer ground in the form of Capital
    Govt should not be coreced to sit at table with a bunch if sharks having nothing which serves the interest of country
    Govt handed them a Xmas gift having very little benefits for country

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  • Lexicon …with the likes of PAIN and TEETS in the government…ya won’t even know ya got robbed..

    Enuff in Wonderland…ya see why no one in their right minds would OR should TRUST Mia Borrows..

    “Earlier this month, the private entity representing thousands of former CLICO policyholders had requested an urgent meeting with Prime Minister Mia Mottley to address fears that many more of its members may die without receiving “one red cent” of their savings if Government’s recent bond exchange offer is applied to their investment.

    President of the Barbados Investors and Policyholders Alliance (BIPA) June Fowler said then,

    “Our concern is that more of our members will pass away, adding to the 300 people who have not survived the CLICO debacle [over the past 10 years] to see their hard-earned savings being returned. These issues need to be addressed as a matter of urgency,” Fowler said.

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  • I implore all to watch the stock market and it would give all an idea of who will benefit from these tax cuts
    If govt was doing there homework instead of cow tonguing to this elite group govt would have look towards global markets for performance before signing the bottom line
    All i can say these elite corporations and organisations know what time it is govt does not have a clue

    Like

  • Since yesterday I have been seeing this one all over Facebook..lol

    “NEED A JOB? WANT TO STEAL MONEY GET RICH QUICK, DONT PAY TAXES,AND TALK NUFF SHIT.PLEASE APPLY TO THE BLP OR DLP ADMINISTRATION.”

    Like

  • Do you know the companies listed on the BSE?

    Like

  • Not only do i know. I shop around different markets looking for value

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  • So who are these White Oak people and exactly how much of taxpayer’s money are paying them, they seem to be another recently created fly by night operation in London.., but we shall see if they are credible or are just a scam.. at some point.

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  • http://www.nationnews.com/nationnews/news/216682/central-bank-repaying-pensioners

    Enuff 68…yall still playing cruel mind games with the pensioners for their money.

    How many technical and other issues real or imagined are yall having, .how many news dates will we hear about before these people get their money, if ever….

    Like

  • Salemite why you don’t go and take your medication?

    Like

  • New sewage plant in the works

    Back to the drawing board

    Thank God its Friday

    “The most recent efforts to fix the three-and-a-half year-long south coast sewage crisis has received a major blow, forcing Government to decide to build a new waste plant within the next 18 months, Minister of Energy and Water Resources Wilfred Abrahams has revealed”

    https://barbadostoday.bb/2018/11/23/south-coast-to-get-new-sewage-plant/

    Like

  • This sewage plant thing reminds me of George Bush declaring the Irag war over. I remember some jokers on BU a little while back hailing the solving of the sewage problems. I read story after story in the press saying the problems will soon be a thing of the past.
    Not a failed state yet but………….

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  • Sargeant
    November 23, 2018 11:44 PM

    New sewage plant in the works
    Back to the drawing board
    Thank God its Friday

    ++++++++++++++++++++

    Hopefully this time it will get proper, diligent oversight!!

    These clowns … well these clowns have already shown themselves incapable.

    So whoever the lender is better make sure it is built to specification!!

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  • This govt was told by a leading World Envirolmentalist group that under no circumstances should the outflow be disharged into the sea and the Graeme Hall swamp
    This warning was given to them months ago
    A read of the article also states that govt did their own environmental testing
    It is obvious that the results might have been negative and gave a hastened reason for Govt to come clean on a decision to replace the plant

    Like

  • “Enuff November 23, 2018 10:02 PM

    Salemite why you don’t go and take your medication?”

    Wuh happen, ya ran out of big talk?

    No more big boasting, everything is turning too real right, ah know…lol

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  • So…Enuff 68…when were yall planning to have me committed, wuh ya want to bet many of you will be committed to Jenkins, Black Rock instead by the time all is SAID and DONE….

    Watch muh nuh!!

    Like

  • pieceuhderockyeahright

    @ Brother Hants

    De ole man was did get de video with the homecoming by the Witch of Endor

    Dat was all over de place for months

    You ent see de tickets?

    Like

  • It is a dam shame that it took outside interference to make govt come to an understanding that destroying of the enviroment all in the name of politics would not sit well with international Environmentalist groups
    Isnt barbados govt signed on to agreements that have agreed to protection of the enviroment
    This govt has set this country on a path of self destruction economically and environmentally
    This asinine govt group thought it best to appease the political noise makers by litteraly poisioning our undeground water system by pumping toxins in our bodies of water that should remain absolutely free of pollutants
    This 8 month exercise of pumping toxins in the swamp and ocean would one day come back to bit barbadians in the a.ss
    Not nice to fool with mother Nature

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  • So David what fo u have to say .now present govt has admitted that they have no quick fix or solution to the Sewer plant
    Another broken promise and bold faced lie told to the people to win an election
    David u can use the Spinning Top as a logo when u submit an article

    Like

  • France fuel protests

    ” the protesters oppose an increase in fuel duty on diesel.”

    https://www.bbc.com/news/world-europe-46328439

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  • Well I listened to Mia Mottley quite well !

    She said the retrenchment plan is not working properly because of ” SABOTAGE ”

    Sadly to admit , I believe her !

    The retrenchment plan is being sabotaged by her own Ministers of government and Permanent Secretaries !

    Case in point Minister Lucille Moe & Permanent Secretary, Cheryl Alleyne – doan know one RH what they doing about the merger of CBC , GIS & Government Printing Department ( GPD )

    Take for example the GPD , I am reliably informed by someone from the Accountant General Office that Minister Moe and PS Alleyne has ” okayed ” the closure of the GPD – so that Ministries & Departments will have to go to private printeries across the island to pay 💰 out millions of dollars to get work done that was previously printed by the GPD – for FREE !

    If that is true , can that make sense to anyone ?

    The Mia Mottley administration says it is broke – so it has decided to send home 2.3 million dollars WORTH of wages & salaries ( per annum ) from the GPD ………to pay between COT , COLES , Acute Vision & Primt Max printeries ……..4.9 million per annum for printing services .

    Who do you believe will split this WINDFALL amongst them ??

    Also to give out all the Official emblems & documents of government into the hands of private printeries .

    So NATIONAL SECURITY don’t matter no more…….under the MIA Mottley administration ???

    But PS Alleyne behaving like a FRIZZLE FOWL in this matter ……and allowing Minister Moe and others to make a bad decision on the GPD .

    But leh they lone ……time always longer than twine !!!!

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  • “The Mia Mottley administration says it is broke – so it has decided to send home 2.3 million dollars WORTH of wages & salaries ( per annum ) from the GPD ………to pay between COT , COLES , Acute Vision & Primt Max printeries ……..4.9 million per annum for printing services .”

    No surprise there…we already know that there are NO GENUISES in the Mia Borrows government.

    From Enuff jumped out to support the government, we knew they were all dumb as shite.

    Like

  • Is this the same Ron Sanders who introduced and edited the book “Inseparable Humanity – An Anthology of Reflections of Shridath Ramphal? I have been reading and rereading this treasure chest for months and months. It so clearly defines what we are up against with these world organisations and what arguments need to be made to fight them.

    Don’t see how Sanders could be dismissed as a BLP mouthpiece after making this work a priority.

    Like

  • Donna

    Oh please !

    Lay off the sleeping 😌 pills !

    And stay awake !!!

    Like

  • And you, Fractured BLP grow a brain and age it to adulthood!

    Like

  • Donna

    Please go and grow up !

    Like

  • Fractured BLP,

    Is that the best your brain cavity can come up with? Sad!

    Like

  • NAME AND SHAME THESE LANDLORDS.

    “People taking houses that should really accommodate one person and trying to put in ten and 15 and asking people to share one kitchen or one bathroom. It is not right,” said the minister during debate on a Resolution for the vesting of land in Cluffs, St Lucy, this morning in Parliament.

    https://barbadostoday.bb/2018/11/20/blame-landlord-cartel-for-the-way-we-live-now/

    Like

  • WARU

    But I know the difference between a candidate and an MP though.

    Like

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