IMF Gives Green Light to BERT BUT…

The blogmaster must be honest and admit that the reform and structural changes required to transform the Barbados economy and society will have its negative impact. No austerity program can be rolled out without negatively affecting people. Unless one is rabidly partisan or dishonest it is obvious the work rate of the BLP government is much higher than that of the Stuart led government.  The IMF has given the thumbs up to targets met under the BERT plan. We look forward to the plans to encourage investment to fuel growth.

What the blogmaster will not ignore are decisions that expose the government as engaging in more of the same. A comment posted on another blog by SSS sums it up beautifully.

We know the IMF calling the shots. I have no problem with her BERT plan or the fact that restructuring is necessary. I got a serious issue with her laying off people, and hiring her people; ensuring that her father gets a special gift from her in the form of a Knighthood so he can strut his stuff through immigration officials without check because he is no longer to function as an ordinary citizen;how she did not do enough to ensure the layoff process was fair; how she proposing wire tapping and ensuring that another one of her loyals, Dottin, is not too far from her side when she brings it into fruition. I got a serious problem with the transparency she has shown in writing off tax defaulters millions owed. I want her to publish the names because if you forgiving them and they already sleeping better, you should not have a problem publish names of those who benefited under her tax amnesty – Sunshine Sunny Sunshine (SSS)


IMF Staff Concludes Visit to Barbados

February 12, 2019

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board meeting.
  • Barbados continues to make good progress in implementing its ambitious and comprehensive economic reform program.
  • All indicative targets for end-December under the EFF have been met.
  • Two key pieces of legislation—the Public Financial Management Act, and the Town and Country Planning Act—were adopted in early 2019.

At the request of the Government of Barbados, an International Monetary Fund (IMF) team led by Bert van Selm visited Bridgetown from February 5–8, to discuss implementation of Barbados’ Economic Recovery and Transformation (BERT) plan, supported by the IMF under the Extended Fund Facility (EFF). A concluding meeting was held with Prime Minister Mottley in Washington D.C on February 11, 2019. To summarize the mission’s findings, Mr. van Selm made the following statement:

 

“Barbados continues to make good progress in implementing its ambitious and comprehensive economic reform program.

“All indicative targets for end-December under the EFF have been met. The program target for Net International Reserves was met by a wide margin, as was the target for the Central Bank of Barbados’ Net Domestic Assets (NDA). The target for the primary surplus for end-December 2018 was also met by a wide margin.

“Good progress has been made in implementing end-December 2018 structural benchmarks under the EFF. Two key pieces of legislation—the Public Financial Management Act, and the Town and Country Planning Act—were adopted in early 2019.

“Preparation of the budget for FY2019/20 targeting a primary surplus of 6 percent of GDP is well underway. Full year effects of reforms set in motion during the current (2018/19) fiscal year, including the introduction of several new taxes and ongoing streamlining of public sector work force at state-owned enterprises, should help achieve this target. A detailed assessment of the budget will be made when it is finalized.

“Progress being made by the authorities in furthering good-faith discussions with external creditors is welcome. Continuing open dialogue and sharing of information will remain important in concluding an orderly debt restructuring process.

“The team is looking forward to return to Barbados in May to conduct the discussions for the first review under the EFF and would like to thank the authorities and the technical team for their openness and candid discussions.”

IMF Communications Department
MEDIA RELATIONS

PRESS OFFICER: Randa Elnagar

Phone: +1 202 623-7100Email: MEDIA@IMF.org

144 comments

  • WARU, Crazy & Unstable, Hogging the Blog

    BTW…check Caswell for the correct figures of the amount of people laid off by DLP …then give me the correct stats of youth unemployment in the last 5 years…wuh at one time ah could swear that Mia’s then opposition was saying the unemployment figures DLP were promoting are not correct, but suddenly the long distance yardfowl is here trying to convince us that DLP numbers …. they were correct…

    Beware of yardfowls bearing faulty data..

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Short memories and 15 second attention spans will do in yardfowls each and every time…lol

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Ah must ask though, did Mia give the greenlight for health food stores to sell imported CBD oil that does not work…is that part of the BERT plan……is the legal framework in place, if it is, how come no one knows….and where are the permits for planting and selling in the majority population…..ya would think Mia would need the funds to inflate the treasury…..just asking, the info is accurate by the way.

    Like

  • But where are the jobs for the youth
    How does govt plan to create an environment in helping the youth to get jobs
    Right now all one can hear coming from govt is more plans for laying off
    Given the last estimates and many fiscal cuts one can expect the unemployment to rise to astronomical levels especially when govt has not yet lay out any policies for tackling unemployment
    This govt only focus seems to be a plan of recovering monies out of the people pocket to pay BERT

    Like

  • Also if Tourism continues to flounder one can expect private sector to lay off people as well
    Right now the hint from govenor statictics seems such might be inevitable
    Sooner rather than later this govt would find itself having to retrenched BERT in order to appease a growing number if unemployed
    OSA all but said that this govt is taking barbados down a path which would lead to a cul.de sac

    Like

  • Lawd see wuh I tell wunna, the Salemites and friends have no intention of straying from their narrative. Once the stats don’t support their position, the stats are bogus. Imagine a character that swore Roleric Hinds was the MP for St.Thomas and all other instances of wrong info on the blog talking about faulty data. LMBAO!!! All of a sudden there is concern for youth employment by one but in 1993 it was 44%, 18% in 2007 and 29% in 2017. All yuh see a trend? One of them is raising red herrings about same sex marriages and legalising homosexuality while proud to announce she is a Marketing Manager in the EU, where same-sex unions are legal. Y’all just like the politicians wunna love to cuss, dishonest af.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    You could holler as much as you want…

    Mia’s opposition said the unemployment stats were incorrect…

    …Caswell said the unemployment stats were incorrect….all of them live on the island…but you…who don’t is now slithering out to tell us that they are…so…who ya think i will believe…

    Has it occurred to you that world bank got it’s unemployment stats from DLP…whose stats BLP was saying is incorrect…

    #stayinLaLaland

    BTW…the heat is on…..lol

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Enuff in Wonderland..ah got one that will really sting, real hard…ah just letting it play out, so don’t cry yet…ya will need the tears..and a hell of a lot of tissues..lol…dont want ya bawling and ya aint got the tears as evidence..

    Ya done know since i have not just come out with it…it’s a real life doozy…lol

    Sorry ah can’t see the expression on ya face when that one unfolds…. ya can post a photo though…..ah wont mind.

    Like

  • Every day that Lorenzo comes here with one “Cockadoodle do.” He has nothing of substance to say. He cannot discuss one issue. Just ‘Cockadoodle do!”

    How does he know that what is being done is good if he cannot even analyze it??????

    Just BLP good, DLP bad?????????

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Different year…same fowl…just the flipside of the same record we heard for 10 years….DLP good, BLP bad..

    ….no in betweens..

    But with the same fast approaching drama.

    Like

  • WW&C
    where is your main squeeze Lawson?
    Total silence as pretty boy squirms, changing his story daily. Seems he watches too much of orange boy? JodyRW has him between a big rock and a very hard place.
    Brison, who departed politics to ‘spend more time with his family’, suddenly announces new job with BoM !!!!
    This Octopus seems to have more than 8 tentacles.

    Like

  • I heard a voice clip which was read on local media today by the moderator
    The clip was heartbreaking to listen
    The writer of the letter seem to be having tremendous financial trouble trying to make ends meet
    The last part of the clip reveals a persons who might have reached the end of their rope while desperate thoughs invade their mind

    #####so sad

    Like

  • Is this the same govt when in opposition made a rallying cry not to burden the ” poor” people
    Is this the same govt who made all kinds to promises to put people to work
    Now this govt have the same people by the long and shorts and the scruff of neck sh.iiting bricks

    Like

  • Mariposa spare us the crcodile tears,where were you in 2013 when close to 5000 people were sent home.Tell me these were rich white people?Where was your voice back then hyprocrite?Unfortunately some persons had to be sent home,which the Dems would have done the ssme had bajans been crazy enough to have voted them back in., all because of the Dems mismanagement of the country for ten years resulting in 23 downgrades.As for poor Donna always the victim comes on here regularly joining with Piece and Waru ,taking pot shots at our PM but crying foul when she is attacked well too bad you share licks you will receive licks.Therefore if you cannot handle the heat stay to hell out of the kitchen j/a.Still waiting to hear which country you or the shite know all tag team ever run.

    Like

  • Abigail Williams

    So the stats are so wrong that the true level of youth unemployment is 150% greater than what is reported? Here nuh, 70% of the youth population is MORE than the entire number of persons deemed unemployed. Woman go look for articles to cut and paste and stop making yourself look like a BIGGER ass. Threats about scandals do not bother me. Only this morning I talked about people with no shame. Don’t forget you disappear in the end after causing much bedlam with your false accusations. #dunceinseason#evenwonderlandshecopied

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    “This Octopus seems to have more than 8 tentacles.”

    NO…i lost track of the happenings, lots of drama…lol

    Lawson must be travelling, he was jumping out of his skin on here recently.

    Enuff 68…stay there and fret.

    Like

  • Lorenzo did you hear the the letter when read on local media
    Lorenzo have a heart and stop trying to use me as a catalyst to make an unesscessary point
    What happened today was an unexpected exposure thrown into the face of this govt of pain and suffering which many barbadians households are going through

    Like

  • Possibly at that resort in the DR, I think that was the location Lawson spoke of, doesn’t have internet?
    Or maybe the Air Transat flight was rerouted, and he is one of the 100+ Canajuns at the resort in Haiti.
    Anyways for a place ranked at #8 on the Corruption Perception Index, I suspect the next few months will shed some light on a plethora of corruption stories, and Canada will tumble as reality refocuses perception.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Lol….maybe too drunk to type, he was so excited recently, ah guess @45 joined him, not seeing him either.

    As long as he ends up in Barbados twice this year i dont think Lawson minds saying in Haiti a while.

    did not realize there was so much tension in Canada, i cut back on reading for a little bit, will start back soon, missing a lot.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Northern…i took a quick read and it appears he will get a lot of heat because of the broken promises, seems they want him to decriminalize coke and heroin due to the opiod epidemic as well..

    The broken promises though, they are real angry, happens when you promise the electorate just to be elected and then renege,….more than enuff reason for the electorate to kick ya ass out of parliament…at the very first opportunity.

    Like

  • What is Vision 20/20? Is it another PR gimmick? Spell it out, what are the objectives, for the nation and for citizens? Let us get the substance.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    What we need to know is how much tax dollars is being spent on these 2 palace riffraff for a one day visit and who will tell Prince Tampon how corrupt the old guard in this government is and how much they have all stolen from their own people and still are, hence the reason the island is broke, and is very likely to stay that way…under the same crooks.

    Enuff in LaLa Land..,wuh ya never told me that word is Bitt Inc scam gets 30 million of taxpayers dollars a year to train laid off workers…,what everyone is asking….to do what?…that same money could keep the workers EMPLOYED indefinitely instead…..yall thieves.

    Like

  • Abigail Williams the Salemite aka WARU, a known liar with no credibility. Yet another quiet capitulation disguised as a new breaking story of corruption. You need help. Now for the ignore button. ☢☣🚫🤣🤣

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    If only ya can ignore me, but ya cant..lol

    And that is only the preamble, ya forgot ya cross.

    Like

  • @WW&C
    nah nah.
    This is about corruption.
    Google Scott Brison, SNC Lavalin, Jody Wilson-Raybold corruption, SNC & campaign contributions and DPA (Deferred Prosecution Agreement)
    The promises relate more to pipelines (and other things) and the Alberta truck convoy on its way to Ottawa. Plus a court case is being heard about the Federal Carbon Tax.
    The PM has his hands full in almost every Province, and seemingly within his own Party.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    No good NO…any investigation will capsize him, so he is now walking through a minefield, but he is young so he may survive….the drama will be something to watch though, let’ s see how Canadians handle it. I did notice the mood of the people change on facebook recently and not in his favor..

    Lawson must be convulsing in ecstasy, no wonder he was so hyper and excited recently, outside of the excitement he displays when it’s time for him to hit the Caribbean.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    No good NO…it’s looking worse and worse by the minute the more we read……, this is from 6 hours ago..

    “In the week since the SNC-Lavalin story broke, Prime Minister Justin Trudeau has changed his talking points several times.

    After the story first hit, Trudeau insisted that the allegation in the Globe and Mail story — that Jody Wilson-Raybould had been pressured by the Prime Minister’s Office while serving as minister of justice to help the Quebec-based engineering firm SNC-Lavalin avoid criminal prosecution in a bribery case — was false. He said Wilson-Raybould’s continued presence in cabinet, as minister for Veterans Affairs, spoke for itself.

    Then she quit — and the message changed. Wilson-Raybould, Trudeau said, had never raised with him the suggestion that the PMO was pressuring her to go easy on SNC-Lavalin, and he made it clear to her that any decisions on the file were hers alone to make.

    The SNC-Lavalin crisis seems set to derail the Trudeau governments’ preparations for the upcoming fall election. How does the Prime Minister get the wheels back on track and repair what appears to be a fractured caucus? Chris Hall talks with Minister Carla Qualtrough about the resignation of Jody Wilson-Raybould and the challenge ahead for the government. 10:07
    The shifting nature of Trudeau’s explanations suggests a recognition that the government’s messaging has gotten out of hand and a correction was needed to contain some of the blowback, said one member of former prime minister Paul Martin’s inner circle.

    Scott Reid, who served as the director of communications to Martin during the sponsorship scandal that led to a public inquiry, said that if enough voters conclude that Wilson-Raybould was thrown under the bus, it could leave a stain on the Liberals that would be hard to shed in an election year.

    “If a conclusion was reached that that suggests that the only way to defend the actions and the integrity of the government is to put the boots to a former cabinet minister — who is a woman, who is Indigenous, who is from British Columbia, who’s very sympathetic — then I think that would have brand damage,” he told host Chris Hall on CBC Radio’s The House.

    “And I think that’s why you’ve seen the government shift its tone over the course of the week, because I think it knew it was headed for trouble on that front.”

    Wilson-Raybould has yet to speak publicly on the matter. Reid said the story is so murky at this point it’s at the point where a former Supreme Court justice should do a month-long investigation, and release the conclusion publicly.”

    ©2019 CBC/Radio-Canada. All rights reserved.
    Visitez Radio-Canada.ca

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Throwing an indigenous female under the bus in 2019 is indeed political suicide.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Enuf in LaLa Land….things don’t look so rosy yuh….the shit really hit the fan now..lol

    Ah would tell ya what is coming down, but since ya dont believe “liars”…your words not mine…it would be a total waste of my time….right?

    But dont worry…just a little longer now…just a little longer baby….

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    IMF should have been telling small poor countries lije Barbados this for decades, but no, instead they allowed them to run around with their small island fantasies and backwardd archaic pretences and corruption with a smie……now look….it’s definitely not going to end well.

    “The head of the International Monetary Fund (IMF) has told poor countries to stop using global consultancy firms to write development strategies.

    The fund’s managing director Christine Lagarde singled out inefficient spending on consultants for criticism at an event about funding the sustainable development goals at the World Economic Forum (WEF) in Davos, Switzerland.

    She even ordered any representatives of “the McKinseys and Boston Consulting Groups” or any other consultancy firms in the room to listen to her as she delivered an uncomfortable message about their work.

    The former French government minister said low-income and emerging-market economies had to raise more revenue themselves domestically and cut white elephant projects and corruption.

    READ MORE: Bono says sustainable development goals sound like a “sexually transmitted disease”

    She argued the private sector had a key role to play if poorer countries were to ever achieve the 17 development goals set by the UN.

    But she warned: “I’m looking around to see whether there are any of the McKinseys and Boston Consulting Groups, and if there are please listen to me.

    “I see many, many low-income countries and emerging-market economies spend millions of dollars commissioning consultants to build their strategy plan. I would recommend some saving be made by taking the 17 principles, the actionable items, and start with that.

    “From there, the consultants can actually do their job of putting it into reality. But don’t reinvent it — it’s right there. So much is wasted. That’s part of the inefficient spending that can actually be saved.”

    READ MORE: Where is Davos? Guide to the ski resort hosting the global elite

    The comments may spark controversy not only in the consultancy industry, but also among critics of the IMF itself.

    The fund has a tarnished reputation in many parts of the world for its heavy-handed promotion of free-market reforms in indebted countries over the past few decades.

    The sight of a senior IMF figure now urging developing countries to cut down on their use of imported private sector expertise may raise eyebrows.”

    Like

  • @Waru
    I am a big fan and supporter,
    But when you drop a nugget like ” Bitt Inc scam gets 30 million of taxpayers dollars a year to train laid off workers” it sends me googling and when I cannot find it I begin to wonder.

    There are a few items/names that I like to follow. Please provide links where possible.

    I need to get on one of these MM train (Mia Motley, mMoney or Mark Maloney). I am on the Mia train, but not getting my share of gravy…

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Enuff in Cuckoo Land…ah cant get a fella to help me with this one, but its ok.

    Is this IMF article not really, really embarrassing though….when Mia jumped out with all these consultants and adding more every month, and czars..whatever those are…. and plen this and plen that…all at taxpayer’s expense when we all know none of it is necessary…cause she claimed on the political platform that she knew what to do…now it seems all she is doing is hiring everyone at a high cost to taxpayers…and claiming that they know what they are doing when in reality all they are doing is collecting free money for doing very little to nothing,

    But wait….there is even more embarrassment ahead for Mia…but ah can’t say yet cause ya stop talk to me.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    “But when you drop a nugget like ” Bitt Inc scam gets 30 million of taxpayers dollars a year to train laid off workers” it sends me googling and when I cannot find it I begin to wonder.”

    Sorry Theo…i feel your pain, but you will not find everything online..not when this government is staying in character and doing most things in the dark….what i will tell u is…that most of these government scams will have to be walked back….in the dark because neither IMF nor other lending agencies will have any of it.

    There is one particular nasty move that will be exposed shortly…it too was done in the dark…but could not be hidden forever…although we suspected and blogged about it…no transparency whatever…as Piece told us would happen.

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    Do not stay on Mia’s train…do not go on any of the other runaway trains either…ya dont want to be on any of them WHEN they crash…..trust me on this.

    Like

  • Salemite
    As a wannabe keyboard warrior, you would do well to go watch the Appropriations Bill proceedings to learn, be educated and be informed. Rather than peddle your idiocy on BU. #dunceinseason

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    lol..ah knew you would miss the main event, way above ya pay grade, just watch for the fallout, the blowback already happened…

    #longdistanceyardfowl.

    Like

  • A shepherd-boy, who watched a flock of sheep near a village, brought out the villagers three or four times by crying out, “Wolf! Wolf!” and when his neighbors came to help him, laughed at them for their pains.

     The Wolf, however, did truly come at last. The Shepherd-boy, now really alarmed, shouted in an agony of terror: "Pray, do come and help me; the Wolf is killing the sheep"; but no one paid any heed to his cries, nor rendered any assistance. The Wolf, having no cause of fear, at his leisure lacerated or destroyed the whole flock.
    

    Like

  • Unfriendly BERT gonna wash away barbadians with more licks
    Coming soon to everyhousehold near You

    Like

  • Shareholder governments of the cash-strapped regional airline, LIAT, were meeting here late into Monday to discuss the financial crisis facing the Antigua-based airline.
    Vincentian Prime Minister Dr Ralph Gonsalves said that the “urgent meeting” to be attended by the airline’s management and the trade unions representatives, had been mandated by LIAT shareholders at a meeting held here over the last weekend.
    “I have already secured the personal commitment of the three leaders of the main unions including LIALPA (Leeward Islands Airline Pilots Association), the pilots’ unions, based in Antigua and Barbuda,” he told Parliament in Kingstown on Monday, adding that the Bridgetown talks were vital for the further progress of the amended restructuring option.
    The Barbados meeting comes as Caribbean countries are being asked to contribute a total of US$5.4 million in emergency funding need to keep the airline in the sky. At the same time, 11 destinations have been given until Friday, March 15, to respond to the airline’s minimal revenue guarantee (MRG) proposals.
    Gonsalves said that countries, including the four major shareholders – Antigua and Barbuda, Barbados, Dominica and St. Vincent and the Grenadines – along with Grenada, have agreed to contribute to the US$5.4 million.
    Barbados, which has the 116 weekly departures, the highest by LIAT, is being asked to contribute US$1.614 million, while Antigua and Barbuda, which has 69 departures, will contribute US$960,310.
    Dominica, is being asked to contribute US$347,938 in light of its 25 weekly flights, St. Vincent and the Grenadines with 52 departures per week will contribute US$723,711 while Grenada, which has 35 LIAT departures per week, is being asked to contribute US$487,113.
    Gonsalves told legislators that said these five countries constitute the “A Group” and that while no other government has come forward in the face of the crisis, the shareholder governments are targeting a further three, namely Guyana, St. Kitts and Nevis and St. Lucia, for contributions of US$292,280, US$389,691, and US$584,536, respectively.
    Gonsalves told lawmakers that LIAT’s shareholder governments have asked the airlines to refine the US$5.4 million request.
    Monday’s ministerial statement came on the heels of the meeting in Kingstown that was attended by Antigua and Barbuda and Barbados prime ministers, Gaston Browne and Mia Mottley.
    Gonsalves told legislators that several other countries serviced by LIAT — including Trinidad and Tobago — are not included in the request because they have opposed, up front, putting in any emergency funding into the ailing airline.
    But Gonsalves said that Caribbean Airlines, the national airline of Trinidad and Tobago, is scheduled to meet with LIAT regarding functional cooperation between both carriers.
    Last month, Port of Spain said it would seek to help the cash-strapped regional airline reduce its financial burden by possibly entering into an agreement with CAL regarding the maintenance of its fleet.
    “I have agreed to allow them to talk with CAL to see whether there is any economic benefit or possibilities for cooperation between CAL and LIAT from that standpoint to even a business cooperation, ‘ Prime Minister Dr Keith Rowley told reporters in Port of Spain, adding “LIAT is expected to come to talk to CAL to see whether there’s any possibility of them doing business with CAL…which may relieve them of some of their expenses”.
    Gonsalves said while St Vincent and the Grenadines recorded 52 LIAT departures per week, several of those flights are underperforming, as is the case in every other destination, though some more than others.
    Under the MRG model, it is likely that a few flights may be cut if the Government is not prepared to fund them with a guarantee, Gonsalves told lawmakers.
    For example, two flights from St. Lucia to St. Vincent have average passenger loads of 46 per cent. One of the flights from Trinidad has a 38 per cent average passenger load and Gonsalves said “maybe another air carrier, perhaps a small one registered in St. Vincent and the Grenadines, may fill the breach on the St. Lucia-St. Vincent.
    “In short, there are possible, reconfigured options. In this respect, the regulatory authorities are urged to address expeditiously application by other airlines — third-tier airlines — for the various routes in a reconfigured regional air transport industry,” Gonsalves said, adding that theoretically, several countries have no quarrel with the MRG.
    “If a country wants a particular flight and it is not viable financially for LIAT that country pays a guarantee for its operation, just like they do for the international carriers.”
    He said that in the “evolving saga”, among the things that the management of LAIT has done is to send MRG letters to 11 destinations, namely: Antigua, Barbados, Dominica, Grenada, Guyana, St. Kitts, St. Lucia, St. Martin, St. Vincent, Tortola and Trinidad.
    No MRG letters have been sent, as yet, to Martinique, Guadeloupe, St. Martin, and Puerto Rico, Gonsalves said, adding that the MRG would yield an estimated US$16 million annually but will not address LIAT existing debt to the Barbados-based Caribbean Development Bank.
    The airline has been unable to service that debt and the shareholder governments have had to repay.
    He said the MRG model, may, however, cause a reduction ine flight schedule, adding that he will chair the Barbados meeting.
    Gonsalves said that Mottley on Saturday jokingly called the MRG “Mr Ralph Guarantee” and he told her that the MRGS means, “Mia, Ralph, Gaston and Skerrit” — referring to the four prime ministers of LIAT’s main shareholder nations.
    “But the MRGs require the involvement of all countries served by LIAT,” Gonsalves told Parliament.(Quote)

    I understand Barbados owns 49 per cent of the equity of LIAT. Sell it. Where s BERT/IMF when you need it?

    Like

  • Chung said the US planned to revive its engagement with the region through “Caribbean 2020”, a multi-year strategy to increase security, prosperity, education, energy, diplomacy and the well-being of the people of the US and the Caribbean.
    While noting that the US is an important tourist source market, trade partner and home to a growing Barbadian diaspora, Senator Walcott queried the pace of deepening ties under the Trump administration, as President Barack Obama signed into law the United States-Caribbean Strategic Engagement Act of 2016 (HR 4939).(Quote)

    So this is where the idea of Barbados 20/20 came from. When is t going to be explained to people, other than a year-long party? Or the appalling stupidity of having a Facebook page? Policy Barbados style.

    Like

  • Today

    SOME BUSINESSES OWED millions of dollars by Government, and are prepared to accept 85 per cent of the debt in cash, are in line for payment this month.
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    But in order to access the offer and receive the funds before the financial year ends on March 31, these suppliers of products and services have to notify the Ministry of Finance by filling out and submitting the requisite form by tomorrow.
    Otherwise, payment will be made by the end of September and once businesses accept the offer in writing, they are agreeing to make no further claim on that debt.
    The bad news for those creditors who want all of the money Government owes them is that they might have to wait another four years to get it.
    The “85 cents in the dollar” debt repayment offer was announced by Prime Minister Mia Mottley in a Ministerial Statement in the House of Assembly in December. (Quote)

    Proof, if it were needed, that the government is bankrupt. What is BERT got to say about this? By the way, last week our esteemed chairman mentioned the so-called economic model that has governed Barbados for decades. I am still waiting for an explanation/definition.

    Like

  • Some of us here are still waiting for an explanation on how the suggestion of revoking the citizenship of Barbadians who commit serious crimes will work.

    Like

  • @ Robert Goren,

    Explain yourself.

    Like

  • GUANGZHOU — BYD, China’s largest electric-vehicle maker, temporarily halted operations at its EV bus factory in Guangzhou, Guangdong province, the latest knock-on effect that began when the government earlier this year decreased electric vehicle subsidies by up to 50%.
    BYD and the Guangzhou Automobile Group jointly invested in the factory, which will be stopped through May. In company parlance, the factory “has entered the off-season.”
    Production-related workers as well as employees at the quality unit of Guangzhou GAC BYD New Energy Bus will be put on leave for the duration of the shutdown, which “will not impact sales or business in 2019 as a whole,” BYD said.
    Beijing has driven market growth in the sector with heavy subsidies meant to encourage the development of new energy vehicles such as EVs. However the government started gradually decreasing the subsidies in 2017 and plans to terminate the program by next year.
    Some executives in the Chinese auto industry expect “the market for new energy vehicles to shrink nearly 40%,” one said.
    If the government completely phases out the subsidies as planned in 2020, Chinese EV makers will be put on a level playing field with their Western and Japanese rivals, whose brands make up a minority of the Chinese market.
    The shutdown at China’s largest EV manufacturer suggests that other less competitive players could fall by the wayside.(Quote)

    Is Barbados going to buy China-made electric vehicles?

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