Closer Look at IMF’s Austerity Programme for Barbados

Submitted by Tee White

On 17 May, an IMF team led by Bert van Selm, a Dutch economist and senior IMF functionary, held a press conference in Barbados’ capital, Bridgetown. At this, they announced their findings, after a 10 day review of the country’s implementation of its IMF approved austerity programme, the Barbados’ Economic Recovery and Transformation (BERT) plan. A statement issued by the IMF team declared that the government had made good progress in its implementation of the plan and had met all its targets up to the end of March 2019. To get a better idea of what these targets mean, it is necessary to review the IMF Executive Board’s approval, on 1 October 2018, of a BD$ 580 million (US$290 million) loan to Barbados under an Extended Fund Facility.

This agreement bears all the hallmarks of an IMF neo-liberal plan aimed at eroding the living standards of working class people and prioritising the funnelling of wealth out of the economy into the hands of local and foreign moneylenders. The agreement states clearly that its primary aim is to restore Barbados’ ‘debt sustainability’. Therefore, its priority is to ensure that the Barbados government is able to pay its debt repayments on time and in full, regardless of the social consequences for the country. It is not interested in consolidating and extending the social and economic gains that the people of Barbados have made over the last century, often at great sacrifice, or even in getting the country into a position where it could be debt free. Its intention is to make sure that Barbados remains a dependable revenue stream for those who make their living, not by working, but by living off interest payments. Unable to state its aims openly and honestly, the IMF resorts to easily recognised euphemisms to signal its intentions. Among its proposed measures to put Barbados’ public debt on a ‘sustainable path’ are ‘fiscal consolidation’, ‘reducing transfers to state-owned enterprises’, ‘mergers and divestment’ of state-owned enterprises, ‘reduction of the public sector wage bill’; ‘increase in user fees’ for accessing public services and ‘financial and labour market liberalization’. These euphemistic terms, like the use of ‘collateral damage’ in imperial wars of aggression, attempt to hide the human consequences of government policies through the use of innocent sounding words. However, they have very serious implications for working people in Barbados and represent a direct assault on the social and economic gains that have been achieved over the last century. They signal cuts in government spending on essential services such as public transport, privatisation of public services, redundancies for public sector workers, increased fees for accessing public services and granting finance capitalists greater freedom to do as they wish, while eroding the terms and conditions of workers, thereby making them less able to defend their interests.

The question arises as to what prompts the IMF to propose such a draconian assault on the living standards of working class Bajans. After all, although the country is classified by the World Bank as a high income country, the standard of living of the overwhelming majority of its citizens is most certainly not similar to that of people living in the developed capitalist countries. A trip on public transport or a visit to the island’s only public hospital would soon make that crystal clear. The IMF’s narrative is that the country’s debt burden is unsustainable and the measures outlined above are needed to make it sustainable. But is that what is really needed? When the current BLP government was elected in May 2018, the Prime Minister, Mia Mottley, stated that Barbados’ debt, when taking arrears into account, reached 175% of GDP, making it the third most highly indebted country in the world after Greece and Japan. Referring to the burden of the debt on Barbadian society, she declared, “”Today, servicing the debt consumes more money than the entire central Government’s wage bill. It consumes more than our education and health budget combined. It is a tight chain strangling our throat and has for a while”. It is, therefore, evident that the nub of the problem facing the government’s finances is the unbearable weight of the debt and that this is the problem that needs to be solved. The issue is not to use the debt as a justification for attacking the working people so that the debt can be sustainable. The issue is that the country needs to be freed from the debt noose that is strangling it and draining its wealth away. The IMF Executive have a different aim in mind and their statement declares, “”At 7½ percent of GDP, transfers from the central government to state-owned enterprises are very high, and a major contributor to fiscal risks”. This is where they want to direct their fire, not at the debt servicing which amounted to 17% of the country’s GDP.

In October 2018, the government announced that it had reached a debt restructuring agreement with its domestic creditors. These included local banks, insurance companies, charities, churches, cooperatives, credit unions, individual citizens and its own National Insurance Scheme and Central Bank. This restructuring, according to Deloitte, affected some 85% of the government’s debt, leaving the 15% owed to international creditors to be restructured. The government’s debt restructuring policy has been based on reducing the payable interest rate and extending the length of time over which the debt is repaid. Its 2019-2020 budget projects that, as a result, annual debt servicing will drop to BD$ 772 million, just under 8% of GDP, from its high of 17% in the 2017-18 budget. It is worth noting that even this reduced debt burden consumes more of the government’s finances than all its transfers to state owned enterprises which so concern the IMF and its Executive Board. In addition, the IMF’s BD$580 million loan, which is dispensed over the 4 year life of its Extended Fund Facility, actually amounts to no more than BD$145 million or 1.45% of GDP annually. Therefore its impact on balancing the government’s finances appears minimal. It is rather ironic, therefore, that the IMF is playing such a significant role in this issue and that while it is demanding austerity to address the country’s debt problems, it is itself adding more debt to the pile.

An analysis of the government’s finances does not justify the current austerity onslaught being waged against the working people of Barbados. It most certainly does not justify the efforts to roll back the social and economic gains that have been made at great human cost. Bajans must demand an end to the austerity measures and the defence of our people’s economic and social gains.

138 comments

  • Vincent Codrington

    WOW!!

    Like

  • @Tee White

    You question why has the IMF ihas launched a draconian assault on the living standards of working class Bajans.

    The blogmaster would pose another question: who invited the IMF to Barbados and signed of on the IMF program.

    Like

  • So I ask where is the genesis of these problems?Surely you cannot be serious talking about draconian measures without reference to the ignorance that passed for management of the country by numbskulls like STUART,SINCKLER,BOYCE AND INCE.The only one among them that should have understood was the BOYCE aka the QUISLING,i.e not to be trusted.So true.Leaving the Barbados economy reeling from junk bond status with 24 downgrades,racking up 8 billion dollars in new debt,plundering the NIS funds into oblivion,unable to borrow any money for even legitimate development projects and where they got appproval could not implement the projects because they did not have the will or the knowledge to do so.Was not the $22 billion in new taxes those DLP people wring from the pockets of householders not draconian.What did they do with it?Employ their relatives,friends and party supporters swelling the public purse by 13000 employees many of which have now realized the buck stops at Mia and Ryan Straughan desks.The IMF was the only banker willing to help Bdos and when you have junk status you have surrendered your independence and sovereignty.Lay the blame where it ought to be laid.At the feet of the rotten Democratic Labour Party and their cohorts in bad governance like the current secretary of the party who was soaking the treasury for $20,000.00 per month for what we don’t know because he is an incompetent former low level public servant now crying foul.JA and rubbish people.

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  • Tee White Lies, you want Life without Consequences, for example, you Swipe your Credit Card, and you buy all the Trinkets ya want, ya even pocket a few Dollars and now the Card Issuer tells you that you are not paying off your Credit Card, that you have to pay off your Card and you are pointing at all the Trinkets that you bought and want to keep dem saying while making every Excuse why you do not want to pay off the Credit Card. So the Card Issuers calls in the Bailiff and ya gone before the Judge and the judge makes an agreement with you to Extend the time, Reduce your Monthly Expenditure but that you still have to pay the Debt. In addition, you are Saying ya can’t take away my Audi and give me a Suzuki and the Judge turned around and ask you who took out the money on the Credit Card? And you say, I did Sir and then the Judge said …well then You Got to pay. You could ga home and whine like what ya doing now, but ya Still got to pay. But now ya got to face the Judge who could put ya in prison so Mr. Tee White Lies, ya cannot Avoid the Consequences of SOCIALISM in using other people’s money without paying the Debt while Screaming Unfair. As Margaret Thatcher said “THE PROBLEM WITH SOCIALISM IS THAT YOU EVENTUALLY RUN OUT OF OTHER PEOPLES’ MONEY”.

    Successive Pass Governments have not only Collected Taxes from Bajan’s but have Borrowed money to make Bajan’s Repay. It is such a LARGE Amount, that they have all Bajan’s Howling. It is NOT the IMF fault; it is our Government and us Voting them in fault. They have used our money and our Children’s money and Children not born yet their money. As usual as a Leftie, you Turn the Tables making yourself the Victim rather than the Perpetrator.

    Let us Assume for a moment you have Two Buckets, one Containing all the wealth of Barbadians and another Bucket that is Empty and it Represents the Government. Everything that you take from the Bucket of the Barbadians and put into the Bucket of the Government, that means that there is less in the Bucket of the people because the Government Bucket has a Hole in the Bottom. It Consumes Wealth, it Does Not Create it. The Bucket with the people through their Ingenuity, Entrepreneurship and Hard work Create more Wealth.(Imaging a Bread Dough Rising). If you take more wealth than what is Created and put it in the Bucket with the Hole, there will come a time that the people’s Bucket will be Impoverish. The only way that the peoples Bucket will get Fuller is if we make the Hole in the Governments Bucket SMALL Enough that when we put into it, that it would not Leak out so fast.

    Freedom is Not Anti Government, Freedom just wants to make sure that the Hole in the Bucket is SMALL that we can both Survive. We are Not Meant to Serve the Government the Government they are meant to Serve the People. The Bigger the Hole in the Government Bucket is the more Socialist Government that you have.

    However, Mr.Tee White Lies does not see Two Bucks. He wants to take up the Peoples Bucket and put it inside the Bucket with the Hole where the people Serve the Government not the Government serve the people. Tee Tree White Lies want All that the people have. He has Identified the Problems but HIS SOLUTION is a BIGGER SOCIALIST HOLE.

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  • DEMOCRACY is perpetrated on the economies of nations globally yet these nations seem to fall short of economic prosperity. or lack thereof.. besides corruption, the gurus of economics can’t seem to get it right, is it by design of what they’re being taught?
    The submission identifies Agenda 21 at work

    Great perspective T.

    Like

  • @ Gabriel
    When I wrote this article, I tried my best to present the issues in a way that would minimise the possibilities of the discussion descending into a sectarian BLP vs DLP because I think it is actually irrelevant to findng a way out of our current situation.

    I quite understand why for electoral reasons, the BLP would construct a narrative that the problems facing the country are a result of the incompetence of Freundel Stuart’s DLP government. However, if I analyse our country’s history, taking into account the changes in the international environment, I don’t find this analysis convincing. Criticise the DLP government for failing to effectively address the challenges the country is facing if you wish, but sooner or later we will have to come face to face to face with certain realities.

    In my opinion, the central one of these is that the social and economic model that has sustained us for the last 50 or 60 years is broken and there is a need for new arrangements. There is no going back to what was. The unprecendent vote against the DLP in last year’s election is also a sign of this. The BLP activists would do well to think seriously about what this says about the mood of Barbados with regard to the erosion of the people’s standard of living. I was one of those poor African Bajans who benefitted from Barrow making secondary education free. Unlike my father, who was a BLP activist, I was able to benefit from a secondary education paid for by the government of Barbados. He had no such opportunity because my grandmother was too poor to pay for his secondary education, although he passed the 11 plus. He vowed that his children would have better opportunities than he had. The reality is, however, that as long as the commanding heights of the economy remained in the hands of the old plantocracy, both local and foreign, the activities of the government has had a significant role in changing the lives of large numbers of African Bajans.

    In the conditions where the global capitalist pendulum has swung in the opposite direction and the demand is that the state must only have responsibility to the rich and super rich, while for the poor it’s every turkey fuh he own craw is a reality that can’t be laid at the door of the DLP or, for that matter, the BLP. The challenge we face is how to manage the new situation while protecting our very hard won gains. We don’t often speak about the 14 martyrs of 1937 but we need to remember that what we have has not come easy. Our foreparents have sometimes given their very lives for this and we shouldn’t take it lightly. It’s very easy for the IMF delegation to turn up and say send home people with no consideration as to what will happen to them and their dependants. But as a small country, we should be mindful of the social consequences of putting things in reverse gear.

    I’m not claiming to have a monopoly on the answers because the problems are complex. We are a small distorted economy and society, operating in a globalised tyrannical capitalist economy, over which we have pretty much zero control. Tomorrow the EU can put your country on a tax haven list and, in no time whatever, revenue you were getting from financial services can be wiped out. The OECD can demand that you converge your corporate tax bands or you will face sanctions that will devastate your economy.

    The point of the article was to try to get us to engage with the actual problems we face. I am sure that BLP supporters, DLP supporters and those who support neither can have a fruitful discussion about how we can escape from our current situation, while defending the social and economic gains that we have inherited and refusing to throw some of us under the bus.

    Liked by 2 people

  • Piece the Legend

    @ Sand Devil

    You said and I quote

    “…It is NOT the IMF fault; it is our Government and us Voting them in fault.

    They have (ab)used our money and our Children’s money and Children not born yet their money…”

    I repeat the oft chanted remark about a broken clock ring right twice a day

    Both governments have been responsive for our current predicament as they perpetuated this crime against the people.

    The politico economic debate over the objectives of the IMF seem a futile argument about the objectives of the bankers of last resort.

    If we want, and have to get, their monies, then we have to do as they request.

    I can’t come into your house and put down your house rules and want to tell you how to rule your own house.

    While equally cliche, the repetitive bane of our successive governments has been the blind adoption of a one pony economy which has believed in, and religiously deployed a one word liturgy

    Tourism!!!

    It is said that necessity is the mother of invention but vision CANNOT AUTOCOMBUST AMONG DOLTS AND DUFUSES.

    And these unfortunately overrun our system of government and governance.

    And when I include governance in my equal opportunity apportionment of this blame I also need to mention the parasitic private sector WHOSE ONLY REASON TO EXIST is to spend money in imports for a captive consumer market

    This is a vicious cycle of self cannibalization which, being that it is the norm from independence and beyond, has become an embedded and irretractible evil.

    We often speak of Errol Barrow and his social revolutions but I doubt we really recognize what his actions entailed and, what sustaining that socially innovative model requires to sustain it.

    There was a cost to the Barrow model which one of the very critical elements that it spawned, EDUCATION, became its own tail consuming Cadduceus

    Right now we are stuck in that mode where, every five years, a set of our dredges of society, the UnMagnificent 30, simultaneously descend and ascend on us and wreak havoc while we, the docile, watch.

    They descend like harpies and vultures on us feeding on our bodies and ascend from us, like the ofour of piss, from a public urinal called our General Elections

    This IMF is our collective fault

    WE HAVE SEEN THE ENEMY and it is us!!!

    We are the visionless flesh eating harpies who we have elected and empowered to bring us to this feast of our own flesh where our schools are breeding the rebellious, our streets are breeding the killers who are shooting us, our churches are breeding the pastors who are cheating at exams, our police are breeding cops who are selling guns and disappearing drug evidence from drug cases, our politicians are teifing billions and newly elected ones are giving them free passes…

    And we heah writing drivel bout IMF and ascribing blame to faceless demons – ourselves!!!

    Liked by 1 person

  • Piece the Legend

    @ the Honourable Blogmaster your assistance please with some drivel here

    Like

  • @ Tee White,

    You are right in your analysis in that the economic model we have followed for the 50 odd years of independence has been flawed. It is a system of rotating mediocrity. That has been stated numerous times. Part of that failure e is a failure e of ideas – both on the side of BLP and DLP.
    On a point of information, you say you father passed his 11+ but was unable to go to one of the grammar schools through poverty. Are you sure? Long before Barrow introduced his so-called ‘free’ secondary education, bright boys and girls from poor homes could still go to grammar schools through vestry scholarship and exhibitions. Those were my days and your father’s memory and experience are different to mine.
    Also, the local economy is not controlled by any old plantocracy; they too have failed. Black politicians and local white business people have failed Barbados. Our businesses are now largely controlled by Trinidadians who did not own any plantations.
    Finally, the BLP/DLP sparring match is a way of closing down debate; it is a form of heckling. It takes the form of if you cannot contribute anything intelligent to the debate you become abusive or nit-picking, like putting your fingers in your ears. Just read some of the regular contributors and you will see what I mean: if you say the blue car was driving too fast which led to the accident, they would criticise you because they believe it was a red car. They would have nothing to say about the speed of the car that killed the child.

    Liked by 1 person

  • Isnt it a god dam shame that present govt would prefer to implement foreign and international austerity policies driven by the IMF on the backs of the poor than rely on a narrative of homegrown policies resolute to solve our economic pronlems
    What does this all say about those put in charge in the affairs of barbados
    Lets face it folks what we have of a govt of barbados is only a figure head
    Not a govt that has been constitutionally formed to.look out for the people but a govt who sees it fit and think it’s best to serve the interest of international financial instititions
    Barrow words now rings true we have become beggars having cup in hand at the door steps of captalist
    Which in my opinion are one armed bandits who cares nothing about the social enviroment of barbados
    One only has to look across at Jamaica social enviroment as the IMF travails and leaves its economic imprints on the country
    Yes that too will happen to barbados in the meanwhile we have a govt who has yet to show any people muscle all by itself to implement a growth plan totally exclsive of IMF policies which would propel barbados towards sustainable economic development

    Liked by 1 person

  • Ideas abound in Barbados. What we have is a people who for whatever reason have disengaged from participating in our governance system. They have surrendered that right to the political class in large measure. To add to the problem, they see no pressing need to discharge their civic duties elsewhere.

    The result is an ethos/culture defined by lethargy which has led to stasis.

    Liked by 1 person

  • It’s the government devised THOSE DRACONIAN austerity measures against the people, the IMF approved it because it is in their best interst to do so, but it is Mia’s actions along with her taxpayer paid consultants grinding the people.

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  • But Gabriel..why is Mia not arresting those in DLP yall keep posting ruined the economy with corruption…ya can’t keep saying they committed crimes against people and country…but ya government REFUSES TO BRING THEM TO ACCOUNT..why???

    people are already tired of hearing all of you talk about these crimes but ya government can’t touch them…ya get my drift..she has police, DPP and can request FBI help…so what is the problem.

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  • Did not Clyde Mascoll a touted economic guru stated that no where in barbados or across the Carribbean islands one would find an economic financial advisers equipped and knowledgeable as White Oaks
    What does that say about those in charge having the will or desire to be confident in the people
    Govt interest is not about going about the business of building an economy which will be proficient enough to empower the people but to walk blindly with close eyes to not what best serves the people but rather march in self righteous manner to uphold all which best serves the interest of the rich

    Liked by 1 person

  • @Tee White

    Understand that it is our culture these days to focus on the symptoms and not how to correct the fault line or systemic problem. The result, some remain fixated on DLP, BLP and Mia 24/7.

    The upside is that sometimes all it takes is a few good men and women to change the world.

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  • Those who ARE THE LEADERS…have battened down and are brazening it out…

    pray tell…where are those changes going to come from….UNLESS THE CORRUPTION IS ADDRESSED…and the CORRUPT…dealt with.

    That’s like ya shite tlaking magistrate…a black woman gets assaulted by the useless shit that oozes out of UK…the magistrate talks a whole load of shite and if we did not know better we would believe it, the very next day, the same shite talking magistrate releases the assaulter with a reprimand….do you see another sexual deviant from UK getting arrested, charged and sentenced for assaulting a black female in racist, aoartheid Barbados.

    i saw a 60 year old black man get a year in jail for stealing a nailclip that costs 3 bucks US in Barbados and 99c in NYC….

    So in essence..a damn nailclip has more value in Barbados than a Black female when it comes to committing crimes against either..

    So if the leaders REFUSE to address the corruption..the leader being MIA…who will????

    So where are the changes going to come from Blogmaster??? would love to hear so i can assist and contribute..

    Liked by 2 people

  • T-White

    BU bloggers are giving you deserved LICKS, you are a TYPICAL BAJAN, putting the BLAME anywhere but where it belongs. The IMF or International lenders did not cause the present “draconian” situation, it’s the Bajan populace ignorance. If Barbados wants to perform in a world economy it has to learn the RULES or it will be taught the RULES, batting above its weight is going to result in DRACONIAN consequences, black begging and wineing is only making a difficult situation worse.

    It’s time for Barbados and numerous other independent Caribbean nations to grow up and make something of your countries and stop wineing.

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  • “…….the magistrate talks a whole load of shite and if we did not know better we would believe it, the very next day, the same shite talking magistrate releases the assaulter with a reprimand….do you see another sexual deviant from UK getting arrested, charged and sentenced for assaulting a black female in racist, aoartheid Barbados.”

    Are you suggesting gas station’s CCTV, which recorded a different version of the events that unfolded that night and may have played a role in the magistrate’s decision to release the accused with a “slap on the wrist,” was tampered with?

    What the Court reporter should have done was to also print a verification of “the other side of the story.”

    Liked by 1 person

  • Art…do you know what a sexual predator is. according to what the magistrate said the day before when am sure she saw the CCTV footage before she said it…you do not release sexual predators back into a society filled with black women…unless ya having them escorted to the airport…one…or they are in prison getting their own backsides slapped..

    but ah know yall don’t mind seeing black women and children being raped and sexually abused, ya know, the culture thing, so your extended bullshit excuse is of no surprise…and the as*hole admitted to assaulting the female, he PLEAD GUILTY…

    again and as usual ..ya are as useless as ever Artax…

    …had not for social media the sexual predator will be going merrily along his way and maybe slapping a few black backsides for good measure…but as things stand…ah don’t think another ass slapper will want to be in his shoes any time soon..

    what the hell do i care about your useless evidence…

    Like

  • The sexual predator PLEAD GUILTY..get that through your THICK SKULL.

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  • @ David who wrote ” What we have is a people who for whatever reason have disengaged from participating in our governance system”

    Bajans become engaged when the political campaigns start before an election.

    They embrace one of the two political parties and hope to get some bills paid. a fridge or stove and if they are lucky some cash.

    Then there are those whose lives have improved marginally if at all.

    Anyhow it is that time of year when some of the “pain” is reduced. CROP OVER. Drink smoke and wuk up.

    Like

  • THICK SKULLS SINKS SHIPS…and will get vulnerable Black women and children…RAPED.

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  • Wily coyote
    You spoke a mouthful but how and what would you suggest to carribbean leaders and its people sustainable ways of paving a social and economic path definitive of home grown policies which would empower its people by havimg policies which would remove them from being beggars on the captalist door steps

    Like

  • peterlawrencethompson

    @Tee White
    “… the IMF’s BD$580 million loan, which is dispensed over the 4 year life of its Extended Fund Facility, actually amounts to no more than BD$145 million or 1.45% of GDP annually. Therefore its impact on balancing the government’s finances appears minimal.”
    ++++++++++++++++
    The IMF loans of US$290 million are NOT for “balancing the government’s finances” because you cannot balance finances with loan funds. The loans are for bolstering the foreign exchange reserves in the short to medium term.

    Please don’t interpret this clarification as a defense of the neo-liberal BERT program. Neo-liberalism is the enemy of prosperity for the vast majority of Bajans, but it will serve the interests of the 1% and credulous dupes like Freedom Crier who still defend Thatcherism over a decade after it collapsed in utter ruin around the globe.

    Liked by 1 person

  • peterlawrencethompson

    @Tee White
    What you are missing is any outline of an alternative policy framework to the neo-liberal garbage that is being shoved down Bajan throats.

    Old fashioned Keynesian public spending programs collapsed as a credible policy framework over 40 years ago. Reagan’s and Thatcher’s Hayek based neo-liberalism took its place in the 1980s, but that also collapsed in the 2008 meltdown.

    What is your suggestion for an alternative?

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  • Tee Tree White Lies you have not learned one S***e from the things John Spoke of in the last Article you penned ‘Barbados a way forward’…Really your idea of Forward for actually means Backwards.

    You came back this time with your UWI MARXIST DRIVEL while putting MORE SPITTLE WHERE YOU HAD DROOL. You do not Seek to Understand, you have identified some of the Problems correctly but YOU DO NOT WANT SOLUTIONS EXCEPT YOURS, which is CONTROL. Your idea is to FORCE people to do what you say for you to save the people.

    In your WARPED MIND you must LOVE Xi Jingping, he has the same ideas as you and by next week Freedom thinks you will give us an Article on the NECESSITY of SOCIAL OBEDIENCE SCORES.

    I would compare you to Jean-Baptiste Belley, who was a FREE” BLACK OR “COLOURED” SLAVEHOLDER in Saint-Domingue modern-day Haiti. It seems that Belley was born on the coast of West Africa in 1746 or 1747 and sold into slavery in Saint-Domingue, modern-day Haiti. Little is known of his life as a slave, except that he was allowed to pursue a trade and earn enough money to eventually purchase his own freedom. He clearly received an education, either before or after his emancipation…

    The National Convention decrees the abolition of the Negroes’ slavery in all of the Colonies. Therefore, it orders that all men, without any distinction of color, domiciled in the Colonies, shall be free citizens and enjoy all the rights guaranteed by the Constitution…

    Commissioners of the Republic had already proclaimed the abolition of slavery in Haiti a year earlier, but now that measure was extended to all French territories.

    AS FOR BELLEY, HE CONTINUED FIGHTING IN PARIS THE INFLUENCE OF THE LOBBY OF PLANTATION OWNERS, WHO HAD REGAINED HOPE OF A REINSTATEMENT OF SLAVERY AFTER THE FALL OF ROBESPIERRE IN 1794 AND THE ENSUING REACTION.

    Tee White Lies, you are like Jean-Baptiste Belley is FIGHTING FOR REINSTATEMENT OF SLAVERY…Birth To the Grave Care SOCIALISM on STEROIDS. Did you not Learn that when the Slaves were Free Men even before Emancipation that they worked Consciously and more Diligently than when they were Driven by a Slave Master.

    By insisting that we do as you say, you want us to be Modern Day Slaves NOT BOUND BY CHAINS BUT BOUND BY IDEOLOGY but we ordinary Bajan’s can Recognise the UWI Double Speak. You sound like you worked you whole life in Government whose ideas is that they are the Masters and not the Servants of the people.

    Progressives like you are Regressive (In Bajan terms meaning, “ASS BACKWARDS”.)

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  • Can some of you stay on topic for a change?

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  • @Peter

    You should add that managing a successful IMF program created accesss to concessionary financing, important for a country with crumbling infrastructure and junk status credit rating.

    The biggger issue is not only about nurturing growth, it has to be about transforming how we behave as a people and do business.

    Like

  • peterlawrencethompson

    @David
    “Concessionary financing” is just more debt. You can’t cure an debt problem by increasing your debt.

    Growth is not a cure all either… there is no way to keep growing forever in a finite ecosystem.

    We need to think much deeper.

    Liked by 1 person

  • We warned president Mia about that 1950s style of governance she brought back in 2019. She still did not listen, it is not that we want her to fail, far from it, but maybe if she would’ve listened, she could have avoided the large open pit that they created and DUG for themselves..

    but don’t mind me…ah crazy and unstable.

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  • Vincent Codrington

    @ T White

    Good start towards getting the debate back on course and rescuing it from this BLP/DLP hog wash.

    The objectives seem to have switched to passing IMF targets which have no meaningful relevance to what is happening on the ground.
    I agree and have stated before that we have to focus on understanding the international economic and political environment in which Barbados has to function ,and develop the strategic skills to effect Barbados survival in it.

    Our way of life and our social and economic standard of life must be paramount. All else is tilting at windmills.

    If it will give a degree of comfort, the more developed countries are floundering also.
    How can they devise a solution for us?

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  • @Mariposa

    Take a look CAREFUL at the Failure Countries, paying particular attention to their colonial history, political and ethnic makeup since independence and tell me what conclusions you come to. If you do this objectively you’ll have your answers.

    Liked by 1 person

  • Peter until the economy is transformed and all the related activity necessary to get on track how do we pay for repairing the roads, sewage plants, transformational undertakings and all other necessary to support growth?

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  • @ PLT

    Hayek, or Friedman.

    Like

  • Well, I have to agree with Piece here… hahaha!

    Despite our history of colonization and the control of the rigged system by the powerful countries we could have done a whole lot better than we have. We went soft. We got lazy. We thought the battle was over and we could now relax. We want to live beyond our means and spend money on consumer goods that evaporate rather than invest in assets that solidify our finances. And the much touted private sector did very little but parasite off our stupidity.

    We vote in people who tell us what we want to hear instead of what we need to hear. These liars we vote in obviously remain liars throughout their tenure and then we are disappointed.

    We need to face our truths and work together to change our reality. We must look for leaders with a vision, that tell us the truth about the hard work we need to do to reach that vision. That vision must be sustainable at least for a little while. We must constantly be looking ahead to the next thing knowing that the forces of the powerful nations will always rig things to their advantage.

    I don’t mind staying the course with the right leader. The right leader who is of the people and for the the people who sees him or herself as a SERVANT and not a RULER.

    But I cannot stay the course with RULERS who get fatter and fatter while the average man gets skinnier and skinnier. We must all be in it together, sharing the hard work and the hardship, lifting each other up when we fall into the cracks.

    We must ALL examine ourselves and determine to do better.

    Liked by 1 person

  • ” We must look for leaders with a vision, that tell us the truth about the hard work we need to do to reach that vision. That vision must be sustainable at least for a little while. ”

    Donna…believe it or not, both useless governments HAVE KNOWN FOR DECADES…that they have those in the community and across the Caribbean who are well able and GIFTED because of ANCESTRAL BLOODLINES to assist them with what they need……but they do not want that help …they prefer destroy that help…all because of the corruption factor..

    …ask president Mia..

    Liked by 1 person

  • peterlawrencethompson

    @Hal
    Friedman added monetarism to Hayek’s neo-liberalism and they both played pivotal roles for Reagan and Thatcher in their assault on Keynesian policies.

    Liked by 1 person

  • peterlawrencethompson

    @David
    “… until the economy is transformed…”
    ++++++++++++++
    My point is that WE have to transform the economy, not the IMF, not the government, we the citizens must take up this task because it isn’t going to happen by itself. How should we do that?

    Liked by 1 person

  • Tee I don’t think we can blame the IMF for the BERT program and it’s hardship. The PM has said many times BERT was a home grown program which sought the approval of the IMF for funding. They approved the program as being adequate and signed on for funding and oversight.

    So what was the alternative? We have debt way in excess of available revenue, we have subsidies being paid every year to money losing entities like the transport board and we have a civil service that was 40% larger than it needed to be. So we were left with 2 choices.

    1: We could continue as was with our head buried in the sand, keep printing money to pay the subsidies and swollen civil service, thus creating a PONZI scheme. In other words we take money from the NIS
    Monthly and give them a worthless piece of paper know as a bond, we then go and sell more worthless pieces of paper to the public also known as bonds, so on paper we can issue the NIS with more worthless pieces of paper and in so doing pay workers etc. That my friend was doomed to fail based solely on financial principle, so let’s now look at option 2.

    2: We could finally address the situation and bring the gap between expenditure and income closer by confronting head on the money drains as painful as it might be.

    Let’s look at just The Transport Board as an example of financial lunacy. The board used to operate in the region of 200 buses a day and had roughly 500 employees. The buses on road per day fell to roughly 50, but the board still had let’s say 450 employees, do you see my point? Instead of adjusting the payroll to suit the revenue we carried on smartly and then of course good old central government topped back up the Boards cheque book every year with subsidies. That business plan for lack of a better word, was then taken and applied to every entity of government hence bringing us to where we are today.

    In closing let me say yes it is hard on the backs of Bajans. The thing is though whether you are a country or a company you can only spend what you earn. If earnings drop then spend must drop. Yes you can opt to run a little credit card debt ( known in government terms as deficit) but that too must be controlled. Sadly my friend there is no third option here and regardless to what is said I also see little growth in the immediate future either. I say that as growth depends on liquidity and right now the business community and government are fighting over each dollar in circulation,hence liquidity is drying up fast!

    I know the above is not comforting to hear but it’s our reality and we have to discuss and accept it while also moving pass the blame game and party politics nonesence.

    Liked by 1 person

  • @Peter

    We have to be careful not to sensationalize the role of the IMF. BERT is a transaction that supports a bridge to where we need to get given where we were mired. The debt, the falling foreign reserves, the junk rating etc. this is why transforming is important to avoid a recurrence. Many things must not occur in lockstep.

    Like

  • @ Hal
    He has now passed on and while he was alive, I didn’t know about the Vestry scholarships so I didn’t ask him why he didn’t get one. I do know, however, that the experience of being denied the opportunity to have a secondary education because of my grandmother’s poverty stayed with him all his life. Like many poor Bajans of his generation, he never missed a chance to stress to us how precious our opportunity to have a secondary education was and to encourage us to grab it with both hands and make the most of it. When we talk about reversing our social gains, we need to see the human stories behind those words.

    Liked by 2 people

  • @ David May 22, 2019 9:21 AM
    “The biggger issue is not only about nurturing growth, it has to be about transforming how we behave as a people and do business.”
    +++++++++++++++++++++++++++++++++++++++++++++++++++

    And the most ‘effective’ means of curbing the greed of Bajans for imported goods to maintain their conspicuous consumption lifestyle is to make those goods and services very expensive.

    How about the Devaluation of the Mickey Mouse Bajan dollar and making residents pay for luxury items in hard currencies?

    Why should well-off Bajans pay car dealers and lending agencies in Bajan dollars for imported Mercedes and SUVs while those working and earning the ‘real’ forex finance and maintain these ‘Cadillacs’ in the one-trick pony sector called Tourism are catching their royals trying to get access to timely public transportation?

    It’s only a matter of time before the IMF lays the devaluation Jack card on the table as a precondition for further balance of payments support required to feed the gargantuan beast called Bajan Sweet Living above their forex mauby means.

    Liked by 1 person

  • You have to overhaul the nasty, corrupt governance, until that is done, the island CANNOT move forward, we keep hearing the lip service, but the corruption keeps highlighting itself.

    another note…someone was asking a year or two ago about Owen Arthur’s brother and the massive gun charges, someone just mentioned that yesterday’s newspapers highlighted that he won his case.

    Liked by 1 person

  • @PLT
    What you are missing is any outline of an alternative policy framework to the neo-liberal garbage that is being shoved down Bajan throats.
    ######
    Like I said, I don’t have the answer somewhere locked in my head. I wish I did. What I do think is that if we can get a discussion going that involves ordinary Bajans, lifted up from the status of being voting fodder every 5 years and with a clear vision of what we want our country to be like, that together we can work out solutions that benefit the majority. I have already seen many ideas and proposals on this blog and elsewhere which strike me as very sensible and practical.

    Of course, one of the big problems we have is that we don’t have access to much of the information we need to form evidence based opinions. For example, people are having their lives turned upsided down to pay a debt that we know little of. Can you imagine the bank asking you to pay off a loan that you know nothing about? Maybe the blogmaster can use his good offices to get the current government, given its oft repeated commitment to transparent government, to publish in an easily accessible way for all Bajans to understand the exact details of each loan within the debt portfolio.

    But there’s also a lot more information that we quite simply don’t have. For example, we don’t know what happens with some 70% of the country’s GDP. How is it split between workers and capitalists? What proportion of working people are on which income levels and what lifestyle does this provide for them given the cost of living in Barbados. How comes the private sector can say it has savings of BD$80 billion, which is roughly 80% of GDP, while all around austerity is being practised because we are told we are ‘living beyond our means’? Why are these funds not being deployed to develop the country’s productive capacity, outside of tourism? I know that you have mentioned on this blog the possibilities of developing ICT as a branch of the economy. There are a lot more questions but I guess the main point is that we need this information so that we can discuss in a serious way what we might put in place.

    Like

  • @John A
    Let’s look at just The Transport Board as an example of financial lunacy. The board used to operate in the region of 200 buses a day and had roughly 500 employees. The buses on road per day fell to roughly 50, but the board still had let’s say 450 employees, do you see my point? Instead of adjusting the payroll to suit the revenue we carried on smartly and then of course good old central government topped back up the Boards cheque book every year with subsidies.
    ############
    ….and people waiting 4 and 5 hours for a bus to get to work or home from work. So the issue isn’t one of sending home Transport Broad workers because most of the buses aren’t working and the commuters are stranded in the bus stands for hours on end. The issue is to undertand how it is possible that an entity like Transport Board, which is given the responsibilty of providing public transport to the people of Barbados allows the situation to come about where over 75% of its buses are not roadworthy and no one is held to account? Obviously, the buses didn’t break down the day after they were bought. How is it possible that this situation was allowed to rot and fester until we got to the point where 75% of the buses were of no use? These are the questions that the situation at Transport Board bring to my mind.

    Liked by 2 people

  • @ Mariposa
    I share your outrage about the sentence handed down to the tourist sexual assaulter. It is a grim reminder of where we are as a society.

    Like

  • @ Tee White,

    Your father’s recall was largely accurate. It was a cultural thing. Bajans of that generation valued education and many of them, poorly educated themselves, paid relatively large sums of money to send their sons and daughters to private lessons (tutorials) and to fee-paying schools – the Modern, Federal, Green Lynch, etc. When we talk about an educated Barbadian population, that s the generation we generally mean.
    @ Tee,
    I have said on here on numerous occasions that our social and cultural history has been greatly neglected. That is why I have called for the prime minister to appoint her uncle as a consult ant on social and cultural history; this will be on merit, since he is the best at what he does, and not nepotism.
    Ironically, it was her conservative grandfather, Ernest Deighton Mottley, who did an enormous amount for poor people, not only in the City, but all over Barbados, with his scholarships and the free food in the Park kitchens. A bright poor boy’s parents only had to appeal to E.D. Mottley and he would have been supported – books, uniforms, lunch, shoes.

    Like

  • So Donna…check this out.

    You KNOW that you have a people (females)…KNOWN throught history for having these UNIQUE SKILLS…you KNOW…this people have a long, long ancestral history of ruling and ADVISING governments..

    You KNOW…that these people from this specific tribe of FEMALES…only do…WHAT THEY KNOW BEST…it is in their BLOODLINES…they do not DEVIATE..

    instead of utilizing those skills, those unique gifts…you spent DECADES..setting up and trying to KILL IT…

    now ya ass in DUCKS GUTS…guess what..

    those with the UNIQUE GIFTS AND SKILLS…can only sit by and watch you IMPLODE…

    Like

  • WARU, Crazy & Unstable, Hogging the Blog

    You see the problem that is haunting ……those pretending to be saviours DO NOT HAVE what is required to successfully manage a government…and of course they DO NOT WANT to utilize their local talents…from the PROVEN ANCESTRAL BLOODLINES.

    …they prefer hire pretend consultants from UK and everywhere else and rape the treasury….with NO BENEFITS..to the majority population…..

    on another note…apparently someone who saw the CCTV footage, is speaking out on FB..

    “Sarah Boyce in the video, even his wife told him he should not have slap her on the butt”

    Like

  • @PLT

    In economic theory, Hayek is more associated with the Austrian School. It is true he left the London School of Economics to work at Chicago in the early 1940s, but while there he was a master to Friedman, the apprentice.
    Hayek’s really important work was his intense debates with Keynes and Keynesian theory while he was still in London (numerous essays and books have been written on this) during the 1930s.
    Friedman’s monetarism developed away from Austrian heterodoxy. It was in Chile that monetarism was first trialled. Laffer also played a key role in Reagan/Thatcher economics. Classical austerity contradicts monetarism. Economic theories are not that simplistic.

    Liked by 1 person

  • @ Tee White.

    That’s exactly what was allowed to be repeated In government on the whole and today we now have to not only repay the debt but look for the money to rebuild these entities through restructuring. It’s a double whammy, we have the accumulated debt to service but at the same time we have nothing to show for it and now have to find more money to buy new buses, garbage trucks etc. Plus if you take that way of management and spread it across most of the public entities, you can imagine the total mess we are in. You are right this nonesence has been going on for years and no government ever held those responsible accountable.

    In closing let’s look at the central bank. How could a central bank lose money when every single transaction is profit generating and they have a monopoly on the market they are in? That to me was the best one of all

    Like

  • Tee White May 22, 2019 11:37 AM “@ Mariposa
    “I share your outrage about the sentence handed down to the tourist sexual assaulter. It is a grim reminder of where we are as a society.”

    AS USUAL, RACE REARED ITS UGLY HEAD.

    The Story about the British visitor who was charged with assaulting a women in Sol Top Rock station. It was upsetting that a man would treat a woman like that.

    TODAY, WE READ HE HAS BEEN FREED OF ALL CHARGES BECAUSE CCTV SHOWED SHE WAS LYING.

    THAT HAS DONE IRREPARABLE DAMAGE TO THIS ISLANDS TOURISM. HE IS GOING BACK TO ENGLAND TODAY AND MILLIONS SPENT ON ADVERTISING THIS ISLAND CANNOT REPAIR THE NEGATIVE ADVERTISING SHE HAS CAUSED TO FOREX…TOURISM.

    We are trying to repair damage done in the last ten years and now we get this. The entire island benefits from Tourism, but ONE ACTION LIKE THIS CAN PUSH US FURTHER INTO THE WELL THAT WE ARE TRYING TO CLIMB OUT OF. The woman should be charged.

    DOES BU BLOGGERS CARE FOR THE FACTS? NO IT DOES NOT FIT THE NARRATIVE OF TEE WHITE LIES & ILK.

    Like

  • The government didn’t repeat anything. The people as a result of disengagement contributed to the decline. We have to continue to educate the people the importance of executing on being civic-minded.

    Like

  • David that’s true in that we need to try and get people to look at issues more practically and avoid party loyalty. The thing is though I find that all conversations seem to always end up being about the BLP did this and the DLP that. I also believe politicians know that too and use it as a method of deflection with great results. The problems we are dealing with today are probably more than 20 years old, the problem is we never demanded changed or accoutablility. Year after year tye Auditor General brought these issues to our attention and what did we do? it now as a result snow balled into what we now have.

    That is why I feel forums like these are so useful for discussion and thought sharing. Call me the eternal optimist but I hope some day they will be used free of partly loyalty as well.

    Liked by 1 person

  • @John A

    Agree discussion is useful. We have the attention of the political class, they read and participate. There is sufficient track record here to demonstrate that BU is a forum useful for giving a pulse check of the wider population.

    Liked by 1 person

  • NorthernObserver

    A former PM asked “how did we get back here”?
    Possibly the author’s most telling insight came in his rebuttal of 10.18 pm, where he wrote “defending the social and economic gains that we have inherited”.
    Inheritances are frequently blown, because the inheritors never earned them in the first place, their foreparents did. Rather, they feel entitled, because they have always enjoyed these benefits. They are worthy of, and deserve them.

    Whether personal or corporate or governmental, the crux comes when we SPEND more than we EARN, or have saved. It is that simple.

    We can debate the components of earnings and expenditures. What is non-negotiable, is we must balance at some foreseeable point. OR we will lose those inherited gains, we will blow them. These gains are not guarantees, but privileges.

    And for those who think the IMF is a badword, and I’m not suggesting it isn’t, they are the lender of Last Resort. Balance your financial affairs, and you will not need them. This is the time to determine priorities. Is it continued free education or multiple diplomatic and trade missions around the globe? Is it a car or a luxury car? Is it universal healthcare or 1000 public employees? The choices go on and on.

    Like

  • I think too the powers that be need to also stop mentioning things until such time as they are ready for implementation. This issue about bajans holding USD accounts was brought up in March’ s budget and we are nearly in June with no date set for implementation. That can be done quickly and would immediately allow badly needed foreign exchange into the system. I believe they should also allow all foreigners who are property owners here to also open USD accounts based on a current Land tax bill and passport. Lets get some hard currency from the million dollar mansions on the west coast paid into the landtax using USD instead.

    Like

  • @NO
    This is the time to determine priorities. Is it continued free education
    +++++++++++++++++++
    For uttering those words you are now on the official black list i.e. to be arrested on sight and transported to the crow bar hotel aka Dodds. Don’t you know that “free education” is a core plank of the Gov’t come IMF or high water? As Hammer sang “Can’t touch this” I continue to be amazed that “free education” included post graduate degrees while students in countries with far more resources are burdened with student loans for undergraduate degrees.

    There is an alternate universe vibe, yesterday the blogmaster wrote that LIAT was not set up to make a profit.

    #tearingmyhairout

    Like

  • @ Sargeant,

    It is worse than that. The brain drain from the Caribbean is per capita one of the highest in the world. In other words, hard-up Caribbean taxpayers are paying to educate workers for the Canadian, US and UK markets. You can’t make it up.
    Where are our clever economists and politicians?

    Like

  • @ John A

    David that’s true in that we need to try and get people to look at issues more practically and avoid party loyalty. The thing is though I find that all conversations seem to always end up being about the BLP did this and the DLP that. I also believe politicians know that too and use it as a method of deflection with great results. The problems we are dealing with today are probably more than 20 years old, the problem is we never demanded changed or accoutablility. Year after year the Auditor General brought these issues to our attention and what did we do? it now as a result snow balled into what we now have.
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    BEST STRATEGY FOR WEAK MINDED PEOPLE UNFORTUNATELY MOST LOCAL VOTERS FALL IN THIS CATEGORY.

    WHICH IS WHY BARBADOS IS A FAILED ISLAND WITH DEAD WEIGHT POLITICIANS STRATEGY OF DIVIDE AND RULE WHILST FLEECING FOR PERSONAL GAINS VIA CORRUPTION, BRIBE TAKING AND KICKBACKS.

    EVER NOTICE THAT POLITICIANS ON BOTH SIDES AFTER BEING ELECTED PUNCH ABOVE THEIR WEIGHT AND BECOME OVERWEIGHT WHILST THE MASSES OF VOTERS BECOME UNDERWEIGHT AND MUCH LIGHTER IN THEIR POCKETS.

    Liked by 1 person

  • @ Barbados 2019

    Yes that’s true but as David said we have only ourselves to blame for this happening. I can’t remember which politician it was that said bajans had a 7 day memory. On day 1 they hot and vexx and by day 7 they can’t remember what they were vexx about on day 1.lol

    Sad but true unfortunately.

    Like

  • @ John A

    I will not accept ANY of that blame because I HAVE NEVER VOTED.

    I GREW UP IN A POOR HOUSEHOLD WHERE THE ADULTS ALL VOTED FOR THE DLP WHO WERE SUPPOSED TO HELP POOR PEOPLE,

    WE REMAINED POOR IN THE HOUSEHOLD.

    AS AN ADULT I HAVE INTERACTED AND DONATED TO BOTH MAJOR POLITICAL PARTIES AND REALISED THAT NEITHER HAD THE PUBLIC BEST INTEREST AT HEART.

    I ALSO NEVER SAW POLITICIANS OR POLITICAL PARTIES AS ENTITIES THAT I NEEDED TO BE SUCCESSFUL IN LIFE.

    THAT IS WHY I AM WELL EDUCATED AND SUCCESSFUL AS I NEVER DRANK ANY OF THE KOOLAID.

    Liked by 1 person

  • @ Barbados 2019

    Well all that may be true but seeing what you said, don’t you think then you should try and help those blinded by political loyalty to see and understand issues that may escape their grasp, as they may not be as well educated or exposed as you?

    I differ on that approach, i think we must try using facts and data to help those less versed to think for themselves and in so doing become independent of ” drinking the coolaid” as you put it. I always believe even the most stubborn person has the quality of reason buried deep inside them. I make it a practice talking across to people as opposed to down to them, as in business I can tell you from my experience some dam good ideas come from the man on the shop floor. Unfortunately few people stop to talk to them.

    Having said that we are all entitled to our view and approach, as that is what makes discussions like these interesting.

    Liked by 1 person

  • Bravo, John A! Bravo!

    Like

  • @ John A

    Well all that may be true but seeing what you said, don’t you think then you should try and help those blinded by political loyalty to see and understand issues that may escape their grasp, as they may not be as well educated or exposed as you?
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    One can lead a horse to water but can’t force it to drink.

    I was not well educated or exposed when I made my decision as a young teenager by observing all around me whilst growing up in poverty.

    Only fools fall for the same storyline hook line which is detrimental to their well being and disposable income.

    I chose to be a leader and not a follower by observing the adults around me growing up including household and wider neighbourhoods and decided not to continue the same downward spiral.

    It comes down to one choice either to follow the crowd and be shafted or go in a different direction with a greater chance of autonomy and success.

    That is what I preach to the young and to anyone who cares to hear.

    Liked by 1 person

  • @ Barbados 2019

    I can agree with you there but sometimes we have to lift some people up and carry them initially, so they can be enlightened a little bit till they can understand and break issues of a more complex nature down on their own. Bajans are proud people and many will out of pride, continue to not understand an issue rather than ask someone to help them with it. Blogs like these lend them the cloak of privacy so they can speak and seek help, without being looked down at. I hear your view but all I am asking is we take time to share knowledge and not condemn them to ” a life of Koolaid drinkers ” as you so eloquently put it.

    You were a strong willed person who was intent on bettering yourself at all cost. Regrettably not everyone is that blessed and hence you have to take out the proverbial pitch fork and give them a few gentle ” jucks” as we say to get them started.

    Like

  • NorthernObserver

    @Sarge
    #havenohairtopull

    Funny. Of 10 prov + 1 Fed, that is 55 budgets in the last 5 years. Only 3 projected balance or surplus, and all were Quebec. You know what happened to that Gov’t? Our Feds promised a return to surplus after 2 years of deficit, that has now gone thru the eddoes with deficit projected through 2024. And each time a Gov’t attempts to rein in spending, they face a barrage of protests and demonstrations. God help any counter protesters who show up. The Ontario debt, the largest sub-sovereign debt in the world, is already on a per capita basis, 7x that which sunk the good ship Bim. Nobody cares much about deficits or debts UNTIL it affects them personally or they have made it their raison d’être to be a spokesperson for the poor and vulnerable.

    #onapermanentgraylist

    Liked by 1 person

  • NorthernObserver

    Latest IMF buzzword in Article IV reports….MACROPRUDENTIAL…and it isn’t a big insurance company. “Synchronous” remains popular, and it isn’t a style of water ballet. “Fiscal Space” seems to be waning.

    Liked by 1 person

  • Vincent Codrington

    @ Northern Observer at 7:00PM

    Good observation on the question of Debt / GDP ratio. There may be quite a bit of hype in the theory surrounding this metric. It conceals more than it reveals,when superficially analyzed.

    Like

  • William Skinner

    The party loyalists and apologists will eventually disappear especially the little poodles here on BU. They only come out these days with two positions:
    1. The Bees: We are in this position because of the last ten years
    2.The Dees: We are worst of now because the Bees sending home people and raising taxes etc

    When serious debate takes place they get very silent.

    Liked by 1 person

  • “Let’s put things in their proper perspective.”

    First things first, the topic of this thread is “Closer Look at IMF’s Austerity Program for Barbados.”

    So far, as at the time I wrote this contribution, you posted six (6) responses, NONE of which were RELEVANT to the topic.

    What does the particular assault charge have to do with the austerity measures as described in the article?

    A history of the man’s antecedents was not revealed in the newspaper reports. How do you know the man in question is a “sexual predator?” It is ludicrous for you to characterized the man as such without evidence.

    Do you know the reasons why the man “plead guilty?” He was scheduled to leave the island the next day and his lawyer told him to plead guilty to the charges because they were “misdemeanours.” If he did not enter a guilty plea, a trial would have been scheduled.

    How is asking you a simple question relative to the CCTV footage, which REQUIRED a SIMPLE “yes” or “no” answer, be interpreted as making an EXCUSE for a white man…… and how, as it relates to this specific issue, are white men raping and sexually abusing black women relevant?”

    All this does is to provide you with an outlet to express the SAME USELESS, IRRELEVANT DRIVEL you REPEATEDLY post to EVERY article on BU.

    “Stealing from the Treasury and pension fund;” “low life lawyers and politicians;” “120,000 off shore accounts;”……. is a regurgitation of the rhetoric spewed by Jacky Stewart….. thereby indicating your intellectual capacity is limited……… you have to rely on the contributions of others to make a comment.

    At least you have moved away from “Peter Harris, COW, Bizzy, Maloney and minority thieves.”

    Here you are, on every thread cussing and criticizing white people, yet you feel proud coming to this forum “saying” you are married to a white man.

    You are a FRAUD, NUISANCE and LIAR.

    Like

  • “The issue is to understand how it is possible that an entity like Transport Board, which is given the responsibility of providing public transport to the people of Barbados allows the situation to come about where over 75% of its buses are not roadworthy and no one is held to account?”

    Tee White

    I agree with your above comment.

    We had minsters of transport from both BLP and DLP administrations issuing excessive amounts of permits (in several cases, for a small personal fee) to the owners of the PSVs.

    Then there was the situation where the former transport minister ignored an agreement between the Transport Board and UCAL to fix buses, in favour of Trans Tech Inc., which repaired buses, in some instances, three times the amount UCAL charged……..and those same buses had to be “re-repaired” by UCAL a few days after leaving Trans Tech.

    What is even more outrageous, is a minister driving an expensive SUV owned by Trans Tech Inc. And even after drawing this travesty to the attention of the public, this Mottley led VLP administration was in office one year…. and nothing has been done so far to hold Michael Lashley to account or address the other issues of corruption they raised while in Opposition.

    The TB was paying a Trinidadian consultant $22,000 per month, as well as 5 Trinidadian mechanics that were based at Mangrove Depot…… and we ended up with a situation where TB’s fleet went from 115 units in operation per day…… to 80 and subsequently 40 units.

    I gave an example a few months ago of the nonsense that happens at TB. There was a 2000 Mercedes Marcopolo Torino bus, BM42, that was refurbished and awaiting to be licensed and insured. This bus was stripped to repair other buses and its body is now on 4 barrels.

    Like

  • He is a sexual predaotr trying to avoid going on the UK’s sex offender’s registry WHERE HE BELONGS…and where USELESS BLACK MEN LIKE YASELF…think you can keep him off so he can return to Barbados and assault and abuse black women again…

    Artax you are a useless specimen of a black man..an empty shell, useless to your race, useless to black women and children..why are you even on earth.

    Like

  • https://barbadostoday.bb/2019/05/23/he-slapped-my-behind/

    The sexual predator did not slap the behind of some giddy head young girl, he slapped the behind of a fully grown woman.

    Black women have to be very careful of black men who don’t mind seeing them sexually assaulted just so tourist dollars can flow in Barbados….nasty sell out black men who would sell
    their own asses, let alone black women and childrens..

    On another note, saw inthe press where Arthur did not win his guns and ammunition case, so i guess we wait to see if it is a guilty or not guilty, in Barbados it is hard to tell..lol

    Like

  • https://barbadostoday.bb/2019/05/22/arthur-off-to-prison/

    Well ah guess it’s off to prison. What can i say.

    Like

  • “Artax you are a useless specimen of a black man..an empty shell, useless to your race, useless to black women and children..why are you even on earth.”

    I have mentioned in this forum on several occasions that I’m not too fond of white people and their racist agenda.

    Although I am one who is quick to frown and speak on how white people treat blacks.

    If being FAIR and giving them their due when necessary…. or I prefer not to “jump on a bandwagon” to see everything as a black versus white scenario…. or in the absence of all the facts I choose not to call someone a sexual predictor….. or label someone as such, WITHOUT knowing their history in those circumstances….or based on one allegation…….

    ………..makes me “a useless specimen of a black man..an empty shell, useless to your race, useless to black women and children,” the so be it.

    However, I will not keep “harping” about whites, calling them all types of names and expressing my dislike for them……. and then BETRAY my black brothers and sisters by MARYING a white woman.

    To do so, will NOT only be HYPOCRITICAL and I’ll be definitely “useless specimen of a black man..an empty shell, useless to (my) race, useless to black women and children.”

    But what amazes me is, despite your anti-white rhetoric, you married a white man….. and you justify doing so, by wanting us to accept his case is unique.

    Then why is it that you can’t put anything involving black and white individuals into its proper perspective, without trying to make it a racial issue?

    Like

  • The dumbest of black men sat back and caused centuries of enslavement of their own people, your skull is too thick for u to get away with enabling this new age modern day threat to black women and children.

    Like

  • http://www.nationnews.com/nationnews/news/239919/mottley-stays-mum-liat-negotiations

    Wow !

    PM Mottley remains MUM on LIat negotiations !

    Why ????

    Because the CABINET of Barbados needs to review the Liat matter !

    Oh Holy Smoke !!

    What about White Oak a.k.a HOAX !!

    BDS $ 54 Million siphoned off to a … two man …..company ……at a time when no CABINET was in place !!!

    The PM is right to remain MUM over this :

    Most

    Unsavoury

    Madness

    Barbados deserves better !!

    David BU…..what says you ?????

    Like

  • What evidence is there money has been illegally shared with White Oak except your suspicions? That said we are on the right track to question government contracts until the contractor general is in place.

    Like

  • the Ministry of Finance said “good faith discussions with the Barbados bondholder committee have intensified since the start of 2019 in the context of a non-disclosure agreement (NDA) between [Government] and the advisors to the committee that was first put in place in September 2018.

    http://www.nationnews.com/nationnews/news/239918/debt-talks

    Like

  • NorthernObserver

    Hmmm…GAIA
    http://www.nationnews.com/nationnews/news/239920/airport
    “But in the end, the National Insurance Scheme and workers at the airport will be shareholders in the facility, Prime Minister Mia Mottley has revealed.”

    A story that begs many questions but answers none

    PS I just wanted in on the C&P action

    Like

  • BARBADOS HAS AGREED to a long-term business partnership in the region of 25 to 30 years to completely renovate and refurbish Grantley Adams International Airport (GAIA),

    25 to 30 years to completely renovate ????

    Like

  • @Hants

    This is long overdue. GAIA is a dump compared to others in the Caribbean namely St. Marten, Antigua, St. Vincent and a couple others.

    Like

  • @ David,

    I just don’t understand why it would take 25 to 30 years to renovate and refurbish.

    Like

  • @Hants

    We operate in a culture where maintenance is not a priority. A mash up and build back culture.

    Like

  • @ Hants
    Is there a management deal? Prime minster is a very strategic thinker. Remember a few weeks ago she talked about improving the airport and I said that she was obviously in private talks with someone. The prime minister does not talk wild talk; she is not Stuart. Everything she says has a deeper meaning. Watch out for treason.

    Like

  • @ David,

    It seems the lack of maintenance continues. More sick building issues.

    “Sources said the environmental issues have been ongoing for a while and the discovery of what appeared to be mouldy cupboards in the nutrition room that eventually dropped off, was the straw that broke the camel’s back.

    Like

  • I am here listening to Brasstacks and the DEMS would make one believe that the last government was the greatest thing that happened to BIM.

    Like

  • SirSimpleSimonPresidentForLife

    It should not take 25 years to repair and renovate, I expect that the contract MUST include ongoing maintenance and management.

    And David GAIA is NOT a dump. I know every airport in the region, from Trinidad to Jamaica.

    Like

  • SirSimpleSimonPresidentForLife

    @roverp

    If the DEMS were so great, maybe someone can ask the DEM yardies why is it that the people skinned their ra@@es out a year ago?

    Was it a love t’ing by the people?

    Simple Simon
    Neither “B” nor “D”

    Like

  • Rihanna’s new company, Fenty Beauty, has had a turnover of Bds$1500m in its first year – more than the foreign reserves of Barbados. She is Barbadian, an ambassador for the nation and loves her island home. Can’t this government persuade Rihanna to register her company in Barbados by offering the kind of deal it has offered Butch Stewart? Just an idea.

    Like

  • On a visit to Frankfurt in the 80’s I observed that the airport was chock a block with brand name stores giving the appearance of a mall.I think our terminal 1 was built at a cost of Bd$27 million and started in 1971.Loading bridges were thought too expensive at $90,000.00 each at that time.In the 70’s and up until recently it was a nightmare getting on or off an aircraft in a wheelchair,negotiating those steep aircraft steps with 3 man handlers lifting and negotiating the ascent or descent while the passenger’s heart was perhaps in their mouth out of fear of falling out of the chair and crashing on to the tarmac.One lawsuit would have bought 2 bridges.The shortsightedness of it all.

    Like

  • I think the article was worded ambiguously in that the airport lease would be for 25 to 30 years, not that the renovation would take that long. Privatizing our airport is no big issue once done correctly. If you are flying to the UK you are in fact landing at a privatised airport.

    Like

  • The Prime Minister said discussions were held with the IFC, and after much discussion, it was agreed that government would retain ownership of the airport.

    https://gisbarbados.gov.bb/blog/civil-aviation-authority-to-be-set-up/

    Like

  • Freehold ownership is different to a management deal. What is this PPI?

    Like

  • Yes they will maintain ownership but that doesn’t mean it can not be leased under a long term contract to a private entity to run. I see this playing out as us continuing to own the property and operate customs and immigration, while the day to day operations will be contracted out under a 25 to 30 year contract so that the operators have ample time to get a return on capital for the expansions outlined.

    Like

  • Don’t forget the British Government privatised Heathrow and 6 other airports years ago and they are all rum by a company called BAA limited. Not to be confused with the British carrier BA which was also privatised years back and is now operated by AIG who also operate Iberia Airways .

    Like

  • A leasehold s different to a management deal.

    Like

  • Why people that like to comment on everything always seem to be uninformed? A simple viewing of yesterday’s press briefing would provide all the info some are trying to make into a suspense movie.

    Like

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