Does White Oak Have a Plan B?

The Mia Mottley government forced a debt restructure on locals holding bonds. The government boasted about the speed it was completed although truth be told it was a Hobson’s choice.

On the other side of the debt restructuring transactions the external bond holders have so far been nettlesome at the negotiating table. Approaching 18 months and there appears to be a stalemate in the negotiation. The Mia Mottley government has been unable to deliver on a promise that the debt restructure transaction would have been closed by now.

Senior members of the BU family have taken umbrage to a recent comment by one of the government’s financial advisors Avinash Persaud.  Here is a pertinent quote.

What we have been trying to do is to get the best deal possible for Barbados, which means that it can’t be the quickest deal possible. If you play poker do you fold early? If you don’t need to borrow for four years you have a good hand. So, we are following the right strategy – No backing down

The blogmaster must agree at the idiocy of the statement when viewed through the eyes of a good poker player.  A good poker player will fold based on the game situation. It does not have one Rh to do with early or late in the game.

The blogmaster appreciates there is an element of table craft that will be exercised by actors sitting around a negotiating table. One must however critique the judgement of Persaud to feel embolden to have issued such a statement at this juncture in the negotiation.

Despite a bevy of officials recruited by the government with job descriptions to cover finance, communications, public relations and media liaison –  the public is left to speculate as to the current state of negotiations with the external debt restructure transaction.

Given the perilous state of the Barbados economy and the time it is taking to close the debt restructure deal with external creditors – the more aware citizens excluding the yard fowl variety – have started to examine the increasing downside risks threatening the Barbados recovery program. The blogmaster counts himself among those who is now very concerned that the high price White Oaks team has been unable to resolve the wedge issues.

It is time to go to plan B.

Do we have a plan B?

 

322 comments

  • Forty acres
    The same principle applies to the Carribbean as black givt open the flood gates for foreign business predominately whites to start business flooding them with sweet deals
    Who do you think owns Prime land and property in barbados
    Right now the native barbadian predominately black is struggling to own land or buy prime property
    Look at who got the lion share of prime land at Coverly and the govt who made that all happen(black)
    Need i say it was not a black man who was that lucky
    So your thought process of presenting America as a bastion of racism sticks but the measurement also applies to the Governments of the Carribbean

    Liked by 1 person

  • I don’t who is seeking to use Grenada’s economic performance as a yardstick for Bdos’ SDR, certainly not me. I merely pointed out the details of their SDR, timeline, litigation etc to show Bdos current drawn out negotiation is not a first. But if we want to use social indicators to discredit the positive economic numbers, Grenada’s unemployment stood at 40% in 2013 by 2017 it was 24%. The GNI (standard of living measurement) has increased and was at its highest ever in 2017. You can’t experience that level of economic growth without the attendant changes to the social indicators.

    Like

  • @fortyacres

    The reference to model had to do with IMF model for Barbados Grenada or Jamaica read BERT.

    Like

  • Unemployment numbers can not be used solely as a country social enviroment in good standing
    A 16 percent drop does not tell how many people stop looking for work out of the 40percent which can contribute to a false indicator or a perception that the unemplyoment rate was reduced drastically
    The fact still remains that the social enviroment of any country cannot be separated from the health of its economic growth which the IMF programs has done over the years as to indicate that the country over all economic health has progress while in the long term the poverty rate of these countries increased and the social enviroment becomes tattered and torn
    Grenada for what is worth is still considered one of the poorest countries in the Cartibbean and its cost of living is one of the highest having its wages amongsts the lowest

    Liked by 1 person

  • First Citizens Bank Barbados needs to get its act together, 10:44 on a Monday morning and no one can get their money out of the ATMs and that is from yesterday…while their useless employees REFUSE to answer their phones..

    No one wants to stand in long lines dealing with slow ass, incompetent employees…which i might add all banks in Barbados have..

    People will have no choice but to remove their money.

    Like

  • Vincent Codrington

    @ WURA WARU

    Remove my money and put it where ?
    You like you belong to the gang that breaks through and steal? You creating Hobson’s choices and then claiming victory/public agreement. Wuh Loss !!

    Like

  • lol…there are other ways to secure your money Vincent…just look for the BEST WAY……the banks in Barbados are getting worse, even if the weekend finished the stack that was there….it is nearly 11 in the morning..people got other things to do..besides stand in line with slow ass employees trying to out do each other in SLOWNESS and INCOMPETENCE..

    Liked by 1 person

  • “Remove my money and put it where ?”

    Me thinks we are forgetting the REAL CHALLENGES our foreparents HAD…and despite all of that…THEY STILL MANAGED TO PREVAIL…they got robbed by traitor negros, but we too can find a way to prevent banks from acting like OUR MONEY BELONGS TO THEM AND THE THIEVES THEY HIRE AS EMPLOYEES.

    Liked by 1 person

  • On another note…

    Counsel Rests..i will show you just how MALICIOUS I AM NOT…

    someone gave me info and though i am STILL not endorsing the government actions of NO TRANSPARENCY…..because they should be more TRANSPARENT about the deal with the CAVES, it is TAXPAYER FUNDED, it does not belong to Mia…and just in case the family PLAN is to OWN the Caves WITHOUT the knowledge of Bajans…i especially have to put the info out there, it is the right thing to do..

    am told from someone outside of Barbados who knows the Chukka owners well….. to be careful how the media is being manipulated by Ince of Foster & Ince the Tour Travels…the likes of whom are still trying to keep Barbados in the Plantation age…unable to move into the 21st century….so they can benefit as usual with their backwardness and wickedness….they would do anything to prevent a positive move to upgrade the Caves..

    It has been acknowledged that the Caves is a TIRED PRODUCT and needs NEW LIFE INJECTED into it….and the info sent me on the MODERN WAY Chukka operates is impressive…….and the person trusts them more than they trust the Trinidadians…or the disgusting minorities with their plantation mentalities…

    So…in that case…WHAT is the damn secret…WHY no transparency…unless there is an ulterior motive…let’s hope not….as yall can see…people are WATCHING.

    Like

  • BLP government has a very long history of the majority population NOT BEING ABLE TO TRUST THEM..

    ..they are known as land thieves…even by their own fellow crooks in parliament…who are now silent although they knew it was highway robbery and theft of lands nearly 20 years ago….why is Billie the goat…so quiet now.

    that is why they are NOT TRUSTED WITH THE CAVES…

    https://external.fbgi3-1.fna.fbcdn.net/safe_image.php?d=AQDtbFabOrfUQmOO&w=540&h=282&url=https%3A%2F%2Fbarbadosfreepress.wordpress.com%2Ffiles%2F2008%2F09%2Fbarbados-land-corruption.jpg&cfs=1&upscale=1&fallback=news_d_placeholder_publisher&_nc_hash=AQAGWhcSDAay7eHA

    Like

  • Enuff

    Your last story was only half truthful.

    The next half is that almost everywhere you see that nature of economic decline

    Getting up off the floor is not that difficult

    As a result massive indicators are racked-up in getting back to square one.

    Also, after such a 2,3,4,5 year spurt in ‘growth’ there is consistently a leveling off, a return to near-zero growth or even another round of consistent declines.

    Our broader point is that the road ahead for this and the next governments is not going to be easy, especially with all major European countries in decline, America desperately trying to sustain notions of growth for the next election cycle and the impending global recession which we have long forecasted to come within a 24 month period, ending March 31, 2020.

    Liked by 1 person

  • fortyacresandamule

    @David. Most IMF prescriptions are the same with a little tweak here or there. BERT has been touted has our own home-grown solution which is fine by me for whatever it’s worth. St Kitts had their own version in (2011-2014) and they did well. Jamaica didn’t have a home grown solution, so basically the IMF dictated everything.

    Besides Jamaica’s still enduring low-growth phenomena, the country nonetheless has become an IMF success story of austerity and macroeconomic stability.

    Barbados in the next three years will do just fine in my opinion, as long as we achieved both (BERT and IMF) targets.The primary surplus of 6% will be very crucial in this regard. NB: In the short-run, low-growth might be the price we have to pay.

    Like

  • Let’s hope any plans BLP government has, does not include this, hope it’s not part of the ECONOMIC PLAN..

    Bajans HAVE TO BE VERY VIGILANT, since no one wants white organs, but whilte wealthy racists CANNOT LIVE WITHOUT BLACK ORGANS, yall better watch ya backsides and those of your children..

    Counsel Rests..here is some reality for ya, ya know yall live in LaLa Land..

    Like

  • Oh well we all lnow the house of windsor isprimarily made up of crooks and criminals who themselves are descended from EVIL CROOKS and criminals or the last 1000 years, so what McJale is saying is not exactly news. Difference is the criminals in Windsor have their asses WELL COVERED. The shitehounds in Babados can afford to do some quality jail time FOR THEM. We done know they are all imps, pimps and 0negro sellouts owned by the palace.

    “‘Attorney General.

    Based upon my own personal experience and knowledge gained over the last 45 years living, investing and working in Barbados: and particularly the last two years:

    the “ROYAL Barbados Police FORCE”: 

    the Registrar of the Supreme Court and the Registrar’s Department:

    The Barbados Bar Association:

    the entire Barbados “Judicial” System: 

    the Chief “Justice”: 

    The Magistrates Courts:

    the Prime Minister; 

    the Goddard Group: 

    the Nation Newspaper; 

    the Advocate News:

    CBC NEWS

    Simpson Motors, etc

    are all linked and controlled by crooks and  perverters of justice; and drug dealers the majority of whom are white; and who are subject to the control and influence of the House of Windsor:…

    particularly the Knights of the Realm and the Dames;

    even though Barbadians treasure their “independence”.

    Sincerely, Christopher Mchale’

    Like

  • In other words..negro sellouts AND criminal minorities ARE EXPENDABLE..less than human…easy to REPLACE.

    Wuh i been telling yall for years that ya aint worth shit.

    Like

  • Wait, wait wait…let me get this right…DLP picked up NIS Pension fund money…gave it to CROOKED Cow to invest in some shitey Apes Hill Club house, nearly 300 Million dollars…helllo…then Republic Bank …one of the BOND HOLDERS for this scam…picked up the project…cause hello…they invested along with about 5 other bond holders…which includes NIS Pension…ya know, the pensioner’s money..

    …..so president Mia steps into the nearly year long debacle and what happens…well ALL THE BOND HOLDERS are taking a 70% HAIRCUT…..and that includes NIS PENSIONERS…

    bond holders screwed AGAIN…

    …..but, the silver lining…Apes Hill workers are back to work..Canadian Gildan are the new owners of the golf course,..and the vicious, greedy, racist cow/bizzy Williams thieves and their fellow criminals……ARE GONE…

    Like

  • Well there is nothing wrong with a little trip down memory lane….

    GP told me to get some help, well here is help..

    Like

  • Mia cares so much she ALLOWED the pensioners to be ROBBED again…

    what can they do with 30 cent on the dollar when pensioners are getting NO MONEY NOW….that loss is in the HUNDREDS OF MILLIONS..

    …yall let the tiefing Williams rob the people AGAIN..as usual…and don’ think ALL OF YOU SHOULD BE IN PRISON…and Justin Robinson HUNG in the city square….

    …..you stinking house negros continue to allow your people to suffer by picking up their money and give to the criminal minorities….like Maloney, Bjerkham, the wicked Williams and whomever bribes you..

    Like

  • 100 Apes Hill workers were sent home in May because the claim was there was no more money to keep the scam going. That Apes Hill scam was conceptualized in 2005 under a crooked SLR tiefing cow company COW Williams Investment Incorporated…the usal thieves who rip off the majority population on the REGULAR….and an MLI Caribbean Ltd…claiming they are developing property…which we all know THEY STOLE FROM OLD BLACK PEOPLE…with the help of the DISHONEST bar association lawyers and their wicked, corrupt house negros in the parliament….the golf course started in 2005 and property sales in 2006. Apes Hill Golf Club was opened in December 2009.

    NIS money should never had gone into that scam…they are not even telling us the EXACT FIGURES…so ya can guarantee they STOLE MUCH MORE FROM PENSIONERS….and the wicked governmenmt officials who picked up the PENSIONERS money in that reckless manner to give to thieves…SHOULD BE LYNCHED….if ever there were grounds for lynching…this is it.

    Apes Hill Bond Holders:

    Republic Bank..
    First Citizen’s Bank
    Ansa McAL Merchant Bank
    Insurance Corporation of Barbados Ltd (ICBL)…it is told together they put 80 million dollars into the Apes Hill scam..

    And of course NIS Pension FUND…the pensioners whose money these thieves in parliament and their pimps and the CRIMINAL MINORITIES believe belongs to them and they can pick it up at will and give to their fellow thieves to ..LIVE ON….the pension fund ended up taking the the biggest loss…

    And instead of Mia get out of that scam since the golf course is deteriorating…she is still trying to keep PENSIONERS MONEY IN PLAY …for further and FUTURE THEFTS..no doubt….cause they CANNOT STOP ROBBING THEIR OWN PEOPLE.

    How the hell tiefing Cow get to own wells on the island, now a deal has to be finalized for the water on the Apes Hill property…property which was STOLEN to begin with, so there is no way THIS CROOK ever owned any wells and now trying to sell them..

    Like

  • Insurance Corporation of Barbados Ltd (ICBL)…yes, ICBL of BRIBING Donville fame….ALL CROOKS TOGETHER..

    it is told together they put 80 million dollars into the Apes Hill scam..

    Like

  • Just to make it clear about the water wells at Apes Hill….tiefing Cow got it in his head that he owns Barbados’ water system…so he wants to control the Apes Hill water supply and RENT the wells to the property owners..SO HE CAN PUSH THESE PEOPLE …WHO INVESTED UNTOLD MILLIONS IN APES HILL….WHICH IS OUTRIGHT CROOKERY…as is the norm for the Williams crooks…..because the owners already SUNK MANY MILLIONS INTO APES HILL…the wells should be made AVAILABLE TO THEM AND ANY FUTURE OWNERS.

    AND …the owners are having none of that ….wuh the wells are NOT HIS to rent OR SELL…..got some damn nerve..

    Bajans need to put their FOOT DOWN…when the NEGRO TRAITORS IN PARLIAMENT ALLOW THIEVES LIKE COW & Bizzy et al….. TO CONTROL THEIR WATER SUPPLY….IT’S DANGEROUS.

    Like

  • Apes Hill reboot..

    Like

Join in the discussion, you never know how expressing your view may make a difference.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s