IMF Makes USD21 Million Available to Barbados

The following is the latest IMF Update – Blogmaster

May 7, 2021 End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

  • IMF team reaches a staff level agreement with the Barbadian authorities on the fifth review of Barbados’ Economic Recovery and Transformation program (BERT) supported by the Extended Fund Facility.
  • In this very challenging environment, Barbados continues to make good progress in implementing its ambitious and comprehensive economic reform program.

Washington, DC: At the request of the Government of Barbados, an International Monetary Fund (IMF) team led by Bert van Selm conducted a virtual mission between May 3-7, 2021 to discuss implementation of Barbados’ Economic Recovery and Transformation (BERT) plan, supported by the IMF under the Extended Fund Facility (EFF). To summarize the mission’s findings, Mr. van Selm made the following statement:

“Following productive discussions, the IMF team and the Barbadian authorities reached staff-level agreement on the completion of the fifth review under the EFF arrangement (Press Release 18/370). The agreement is subject to approval by the IMF Executive Board, which is expected to consider the review in June. Upon completion of the review, SDR 17 million (or about US$24 million) will be made available to Barbados.

“Barbados’ economy remains severely depressed by the ongoing global pandemic. Tourism came to a virtual standstill from April 2020 onwards and remains at a fraction of normal levels. Economic growth for 2021 is premised on a modest recovery of tourism in the second half of 2021. Risks remain elevated, including in light of the impact of recent volcanic activity in neighboring St Vincent. 

“In this very challenging environment, Barbados continues to make good progress in implementing its ambitious and comprehensive economic reform program. A new central bank law was adopted by parliament in December 2020—a critical safeguard for continued prudent macroeconomic policy. International reserves, which reached a low of US$220 million (5-6 weeks of import coverage) in May 2018, are now at a comfortable level of US$1.3 billion. Quantitative targets for end-March under the EFF were met except for the performance criterion on central government transfers and grants to public institutions, which was exceeded owing to measures to address the COVID-19 health crisis (including the vaccination program executed by the national hospital).

“The Government of Barbados is targeting a zero percent of GDP primary balance for FY2021/22 (compared to a deficit of 1 percent of GDP in FY2020/21). This fiscal stance reflects a projected modest recovery in tourism and facilitates COVID-related emergency outlays on health facilities, medical supplies, and income support to the most vulnerable. The authorities’ long-term debt target of 60 percent of GDP will be pushed out by two years (from FY2033/34 to FY 2035/36) to reflect the impact of the pandemic on the economy; the authorities remain firmly committed to reducing public debt over time.

“The team would like to thank the authorities and the technical team for their openness and candid discussions.”

IMF Communications Department
MEDIA RELATIONS

PRESS OFFICER: David Sharrock

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

@IMFSpokesperson

147 comments

  • Salk Institute science paper reveals the covid spike protein is what’s causing deadly blood clots… and it’s in all the covid vaccines (by design)

    The prestigious Salk Institute, founded by vaccine pioneer Jonas Salk, has authored and published a bombshell scientific article revealing that the SARS-CoV-2 spike protein is what’s actually causing vascular damage in covid patients and covid vaccine recipients, promoting the strokes, heart attacks, migraines, blood clots and other harmful reactions that have already killed thousands of Americans (source: VAERS.hhs.gov).

    Critically, all four covid vaccine brands currently in widespread use either inject patients with the spike protein or, via mRNA technology, instruct the patient’s own body to manufacture spike proteins and release them into their own blood. This floods the patient’s body with the very spike protein that the Salk Institute has now identified as the smoking gun cause of vascular damage and related events (such as blood clots, which are killing many people who take the vaccines).

    SNIP

    The Salk Institute article refers to this science paper published in Circulation Research: SARS-CoV-2 Spike Protein Impairs Endothelial Function via Downregulation of ACE 2.

    This paper is the first to document the mechanism by which spike proteins — even ones lacking an active viral component — cause vascular destruction by binding to ACE2 receptors and inhibiting the function of cellular mitochondria.

    From the paper:

    SARS-CoV-1 [Spike] protein promotes lung injury by decreasing the level of ACE2 in the infected lungs. In the current study, we show that S protein alone can damage vascular endothelial cells (ECs) by downregulating ACE2 and consequently inhibiting mitochondrial function.

    SNIP

    The study, obviously authored by a pro-vaccine organization, then says that “vaccination-generated antibodies” may protect the body from the spike protein. Thus, the paper is essentially saying (paraphrased): “The spike protein may cause enormous damage to the vascular system when a person is injected with that spike protein, and when that person’s immune system attacks the spike protein and neutralizes it, the damage may be halted.”

    In other words, the human immune system is trying to protect the patient from the damage caused by the vaccine, before the patient is killed by the adverse reactions.

    Put another way, any person who actually survives the covid vaccine only does so because their innate immune system is protecting them from the vaccine, not with the vaccine. The vaccine is the weapon. Your immune system is your defense.

    SNIP

    Based on this research alone, all covid vaccines should be immediately pulled from the market and reevaluated for long-term side effects.

    According to government published VAERS data, vaccine deaths in 2021 (so far) are already nearly 4,000% higher than all the vaccine deaths of 2020, combined. What’s new in 2021? The covid vaccine, built with the spike protein that causes vascular damage. The number of Americans who died after taking covid vaccines is already in the thousands, and realistic estimates put that number at tens of thousands (with more dying each day).

    The mechanism is now well understood: The covid vaccine injects the patient with spike proteins, the spike proteins proceed to cause vascular damage and blood platelet aggregation, this leads to blood clots which circulate around the body and lodge in different organs (the hart (sic), lungs, brain, etc.), causing deaths that are attributed to “strokes” or “heart attacks” or “pulmonary embolism.”

    more at: https://naturalnews.com/2021-05-07-salk-institute-reveals-the-covid-spike-protein-causing-deadly-blood-clots.html

    Link to original paper published in the journal Circulation Research: ahajournals(DOT)org/doi/10.1161/CIRCRESAHA.121.318902

    Link to discussion on the SALK web site: salk(DOT)edu/news-release/the-novel-coronavirus-spike-protein-plays-additional-key-role-in-illness/

    Liked by 1 person

  • WURA-War-on-U

    They have a real nerve showing up to face the people to become elected every 5 YEARS to be nothing but FAILURES. and corrupt….FRAUDS…

    Pacha warned us over and over, but did some of us listen, no.

    Like

  • WURA-War-on-U

    Can’t wait for the 2023 Election Scampaign…wonder which manifesto of lies they will be reading from next, the people better watch their asses, everything has COLLAPSED around these self-created jokers and clowns, join them and watch yaselves collapse too.

    It CANNOT get any better, but decidedly worse, their time of crime has EXPIRED…they controlled nothing else except for a corrupt parliament/legislature and judiciary for 54 years and NEVER WILL….everyone sees where it has led and now even the decades of corruption and all their wheeling and dealing is out there, it has come to an ABRUPT END.

    If ya think joining another political party filled with frauds and liars trying to slither into the parliament to do the SAME VICIOUS THINGS to the African population is going to help you, your current and future generations in any way……you are wrong….your safest bet is to TURN YOUR BACK ON EVERY BLACK FACE pretender approaching you for votes…take them OUT before they get another opportunity to SELL YOU OUT.

    Pacha..this is the best i can do, they are now on their own, it’s either sink or swim, can’t do that for them, can only sit and watch the show.

    Like

  • It was once alleged that a famous boxing promoter once informed a fellow notorious rival promoter that he would rather earn one honest dollar than earn ninety-nine dishonest dollars.

    Why have our leaders since independence embraced this perverse form of governance where they have appeared unwilling to allow the country to earn its keep with integrity; whilst feathering their own nest at every given opportunity.

    This accusation encapsulates why Barbados will shortly become a permanently busted state with very little to show after 54 years of independence.

    Simply put there remains very little on the island to be extracted or exploited. Perhaps the oil reserves. However oil exploration may soon become obsolete.

    The West coast has already been sold off. All eyes are now on the East coast; and there are environmental reasons why this coastline has never been over developed. Factor in rising sea levels and you can see that these are troubling times for the island.

    This current administration and their predecessor where stripped naked a long time ago. The masses know that we have leaders who lack the autonomy to govern the country. We have a zombie government who are petrified that social unrest will imminently breached their shores. Kidnappings are skyrocketing in Haiti and drug trafficking is on the rise.

    The moral of the story is clear.

    Like

  • TlSN
    Reach out to your pal and tell him put aside the ego and come back. No explanation or apologies are needed; just be his self.
    Mr Williams misses him.

    Like

  • @ Theo,
    This goes far beyond one man’s ego. His presence on the blog is not welcomed by someone in a position of authority. Take a look at two countries that I have highlighted over the years: Malta and The Maldives.

    The legendary blogger and journalist Daphne Caruana Galizia, 53, was blown up in Malta in her pursuit of exposing government corruption.

    Yesterday, Mohamed Nasheed the ex-president of The Maldives barely survived an attempt on his life. Take a look at the documentary “Stealing Paradise”.

    Barbados is in a very dark place.

    https://www.aljazeera.com/news/2021/5/8/who-tried-to-kill-mohamed-nasheed

    Like

  • #comment-1645093

    Like

  • I’m having problems posting on Education Reform a Must. The Technical Term is Messages are disappearing up the Bum.
    #comment-1645087
    #comment-1645089
    #comment-1645093

    When you follow a daily practice you have to go deeper into your internal practice each day as the same movements feel different and your understandings increases more. Barbados was a slave port to the Americas during Atlantic Slave Trade but slavery continued after it’s consolidation of slave laws, abolishment of slave trade and emancipation of slaves. Although there were some concessions to slaves there were also reassurances to slave owners. Such as reparations for slave owners and chattel slavery for slave workers. When Slavery was stopped circa 1830’s the colonial plantations still continued and Barbados was a society of discrimination and classes with wealthy ruling class and the fieldworkers and servants from lowest working class. When Barbados become independent in 1966 the system they inherited was a legacy of the British Colonial system in Law, Government, Industry, Social Clubs and all ways of life. Since self rule by Black Slave descendants there has still been a system of a ruling class in Government, Law and Business and a working poor class at the bottom. There has been some social systems copied from Britain such as Health and Education, but these areas need improving to address the wealth inequality gap between haves and have nots which has still widened. It is what it is. Self flagellation of Black leaders is not required. Same problems have been experienced with Global Capitalism where top 1% have 50% where rich get richer and the poor get poorer and the little that the poor man has will be taken away, do you hear what I say.
    Gender fluidity is not compulsory, if you see sex on television between 2 men there’s the option to turn it off.
    Live and let live is the new way of thinking and gays are people who should be accepted in the work place and society just like anyone else. Treat people in the same way that you would want to be treated is a general law of the universe. (no Homo)

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  • Like

  • Problem seems to be with posting a link
    Global Inequality
    That’s all we know

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  • WURA-War-on-U

    “The legendary blogger and journalist Daphne Caruana Galizia, 53, was blown up in Malta in her pursuit of exposing government corruption.”

    if the ones in Barbados could they would, but this is one time EVERY ONE OF THEM WILL GO DOWN FOR MURDER..it will be an INTERNATIONAL EVENT, just as they like to show offf on the international stage……..it will make Donville’s case look like nothing, they love to set up Black people but a bigger set up is waiting for them, let them try anything.

    ..it’s very well known that the corrupt government ministers and dirty racist minorities can be VERY DANGEROUS to protect the crimes they commit against the Black population….ask Hammie La about his accident where his driver died…and there are more incidences that they believe people don’t know about or can’t expose them for…

    It did not have to reach to this, they had the LAST 11 YEARS to STOP VIOLATING THE RIGHTS of the African population, using the supreme court, and they REFUSED because they just gotta show THAT NO ONE CAN STOP THEM….they don’t have any respect for the elderly, children, no one.

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  • So frigging wrong hope govt used some of the borrowed money to clean up the damage done to the reefs

    Headless clueless are the perfect words to describe this govt
    Damage beyond repair
    XXXXCCCC

    Massive mistake
    ANCHORING DESTROYED OUR REEFS; DID WE LEARN ANYTHING?
    By Robin Mahon
    At the start of the COVID-19 pandemic last year, Barbados gave several cruise ships permission to anchor off Barbados. In extending this helping hand, mistakes were made that have cost Barbados dearly.
    The anchoring has destroyed extensive areas of live coral reef on the South and West coasts. This is the conclusion of recently published research carried out at The University of the West Indies.
    The report also notes that this is an opportunity for Barbados and the region to learn from its mistakes, which is the purpose of the research report.
    The project obtained data on the 28 cruise ships permitted to anchor off Barbados between March and September 2020, several of which anchored multiple times resulting in a total of 132 anchor drops.
    Thousands of square metres of reef were visually confirmed by divers to have been destroyed. The potential area of habitat damage from all anchoring events was estimated to be in the region of millions of square metres.
    So what mistakes were made? It appears that there was inadequate understanding of the potential damage caused by anchoring such enormous ships, as well as inadequate surveillance of exactly where anchoring was taking place.
    When a large cruise ship anchors it not only drops an enormous anchor weighing in excess to five tonnes, but must also lay down up to 300m of heavy anchor chain.
    As the ship swings at anchor the chain is dragged back and forth through an arc of up to 180 degrees, creating a semicircle of destruction on the sea floor the size of a playing field.
    In this way, huge areas of reef were destroyed last year on the south and west coasts of Barbados, as far north as off the cement plant. The time for recovery of these reef areas is in excess of 100 years.
    The sheer space needed to anchor a cruise ship was also an issue with so many cruise ships seeking safe harbour in our waters.
    The fact is that there are very few shallow sandy areas off Barbados large enough to accommodate anchoring of ships this size without damaging reefs.
    Reefs have long been recognized as essential for the Barbados tourism industry as they protect the shore, generate the white sand beaches and support livelihoods for those offering SCUBA diving, snorkeling, glass bottom boating and catamaran cruises.
    So highly valued are our reefs that according to the Coastal Zone Management Act the fine for damaging just one square metre of reef is US$150.
    The important lessons that could be learned and acted upon are: (1) the benefits to be gained from the decision to allow anchoring could never offset the losses of such largescale and long-lasting damage caused to our coral reefs; (2) cruise ships should never be permitted to anchor in the shallow coral rich waters of Barbados or any other Caribbean destination; (3) cruise ships do not need to anchor since they can still find safe harbour in our waters by using the port facilities as needed, by holding the ship stationary in any location using the advanced onboard technology, and by drifting nearby in our waters when not working.
    These lessons show a win-win option for all – no damage to sensitive reefs, no bad press for the cruise industry, no negative repercussions for governments.
    Yet, despite awareness of the potential for reef destruction, cruise ships are still being permitted to anchor here in Barbados and important lessons do not seem to have been learned or acted upon.
    It is time to demand that the government takes its drive for a blue economy more seriously. This is not even a hard choice to make.
    Robin Mahon is Professor Emeritus, Centre for Resource Management and Environmental Studies (CERMES), University of the West Indies, Cave Hill Campus

    Liked by 1 person

  • @ Angela,
    The government clearly thought it was a price worth paying. My preference would be to have a complete ban on cruise ships – period!

    Like

  • The central bank report comes as no surprise, but I would caution Bajans to read between the lines when it comes to the proposed growth hopefully in the next 3 quarters. Regardless of how the talking heads will be shouting it from the rooftops, don’t get too carried away by it and below is why I say this.

    Remember any growth that will be recorded in the next 3 quarters is compared to last year, a covid year. To get a fair comparison of where we still are though in terms of TRUE rexovery, we have to compare it to the pre-covid period which would be the last 3 quarters of 2019. If we are to put the 40,000 back to work and claw our way back to the level of economic activity we need, this is the only true comparison that should be made. This should be the target for all of us both in the private and government sector. To get there we will need to broaden our economic base though by bringing alternative energy and agriculture to its full potential. WE WILL NOT GET THERE DEPENDING ON TOURISM ALONE.

    Unless we can get back to 2019 levels of economic activity this island can not address the unemployment levels, or even begin to talk about any real level of recovery. So don’t be fooled by the growing propaganda officials that will try to play spin doctors with the next 3 quarters.

    Ask them one simple question ” where are we in terms of comparison against 2019 economic activity ” of course wunna don’t hold you breath for none to offer this information!

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  • “The time for recovery of reef areas is in excess of 100 years.”

    i mentioned this several times on the blog over an 8 YEAR PERIOD…the tourism pimps who act like they know everything, and love to run up to NYC and everywhere, if they had bothered going and check out educational venue like the museum of science/New York Hall of Science in Queens, they would see A WHOLE DOCUMENTARY on how ships, scuba diving tourists and that toxic sunscreen they wear DESTROYED the reefs in the South Pacific for decades and decades and some areas had to stop the tourism so that reefs THAT ARE LIVING THINGS can recover and breathe again….

    but the tourism hounds know nothing else…..they may have to ban the cruise ships or everything will turn brown and ugly under the water and of course the tourists who have such huge options will not even remember Barbados..

    saw some islands joined by bridges just off Japan that are absolutely beautiful…

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  • @ angela cox

    So frigging wrong hope govt used some of the borrowed money to clean up the damage done to the reefs.
    +++++++++++++++++++++++++++++++
    As per de Blogger “spot on” flying fish will leave again….TT we coming..

    Like

  • @John A

    Agree growth s forecast based on prior year, what other reference point would you prefer?

    Liked by 1 person

  • TLSN…ironically, i spoke to someone, a fellow journalist only this morning who knew Daphne quite well and they all also know about the corruption in Barbados, it’s no secret, so let them go threatening anyone or trying to end any life, everyone is waiting for their next move.

    they won’t hear that everyone is NOT A SLAVE and that those are the only ones afraid of them..

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  • Anyone who expect Barbados to make up 15+ % lost of economic activity this year only fooling themselves.

    The spin bowler really out early testing out the“pictch“

    Liked by 1 person

  • @ Waru

    One thought that occurred to me during my morning meditation is:
    why shouldn’t GB be blamed for
    white supremacy racism
    colonialism
    slavery
    disrespect of Africa/Africans

    Them a vampires
    Them a bloodsuckers
    Them a massacre
    Africa

    Riddimewise We Specialise

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  • @David

    To get a true reference of where we are and where we need to go, we must compare current activity to the pre covid period.

    Lets put it in simple terms for the blog and leave out all the central bank fancy language.

    We have a store called Barbados and for years we have been selling over $100,000 a month. The business employed 10 people and has 2 trucks and the owners lived in a nice 3 bedroom house.

    Then 2020 came and sales fell 30%, so 5 of the 10 workers got laid off and 1 truck got sold and the owners rented out the house. Lets call that the effect of economic decline due to covid.

    So if in 2021 sales went up 5% after falling 30% in 2019, does that do anything in returning the Business called Barbados to where its owners could hire back the 5 laid off people and move back in their 3 bedroom house? The answer is no.

    The point is if we want to get back to the level of economic activity we had pre covid, then that must be our measuring stick. If you read between the lines of the governor’s speech that is what he is cautioning everyone. He is saying don’t let a modest recovery in 2021 go to wunna head. In other words yes it better than further decline, but don’t go borrowing based on it as you are no where near where you need to be in order to be close to a pre covid economy or any real form of recovery.

    Now the party boys will try and spin this both ways. The boys in red would say ” we doing great when last the economy grow 3 %?”. The yellow boys will say ” wait wunna still got 40,000 unemployed.” The independent thinkers capable of reading between the lines will however say ” we are still 27% off where we need to be for levels of a pre covid economy.”

    That my friend is what the governor is warning us about, but he has couched it in economic terms and worded in the form of a report, which is his job. The MOF and the big brain people are the ones that must take what he has said and bring the relevant measures into play, be they an alternative energy program or major agricultural push.

    Again I stress it is not the governors job to implement policy. He is the book keeper who has laid his financial report out for all to see. What we do with it is up to us.

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  • @John A

    Given the planks upon which a precovid economy was built it is clearly not possible to sustain similarly in a postcovid economy.

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  • New-look garbage collection coming – New-look garbage collection coming:

    https://barbadostoday.bb/2021/05/08/new-look-garbage-collection-coming/

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  • @ David

    If we accept that a post covid economy will never be as good as the pre covid one then you are saying the following.

    We will never be able to re-employ the 40,000 jobs lost.

    We will not be able to finance our current level of government.

    We will have to completely downsize our estimates to reflect our stagnant expenditure along with several other belt tightening measures.

    Do you see that happening with elections 2 years off? No, so we will run a sizable deficit which by elections may well be close to 1 billion dollars cumulative. Sound familiar? It should that was exactly what the last government did when all the shenanigans were taken into account.

    6 of one or half dozen of the other pick you poison.

    Like

  • @John A

    We will have to manage a smaller economy until we are able to create new industries and revenue streams. In our history, even in the best times, we were never able to grow at some of the rates being bandied about.

    Liked by 1 person

  • @ David

    If the best we can do is recover by 3% after falling 30% from 2019 then we ain’t saying nutting. So we saying then that a return to the 2019 economy is 8 years off? If so half the businesses will close never to be reopened.

    I just wonder how many of the big brain people understand the challenge ahead of us. If we expanded non traditional sectors like alternative energy and agriculture, I guarantee we would see growth well in excess of 3% annually.

    Our failed logic is that we are going to depend on the same sectors that collapsed in covid to now be our saviour. Even a 6 year old child would not build a sand castle where the last one just get wash way by a wave.

    Lord have mercy how much more it going tale for them to see and understand what must be done? You mean it got to get hand delivered on a tablet of stone from heaven for them to understand THINGS MUST RADICALLY CHANGE POST COVID.

    Like

  • TLSNMay 8, 2021 9:53 AM

    @ Angela,
    The government clearly thought it was a price worth paying. My preference would be to have a complete ban on cruise ships – period!
    Xxcccccc
    I spoke on this issue from day one and the damage it would have done to one of the worlds natural environment
    But I was told I have no credibility and don’t know what the RH i was talking about
    The damage to the reefs and water will cost millions to repair along with the damage caused to plant and animal life
    This govt prefers PR relations over what is best interest to the country

    Liked by 1 person

  • @John A

    Growing the economy if dependent on the inputs available, what have you seen to suggest the drivers are present to deliver precovid growth?

    Liked by 1 person

  • WURA-War-on-U

    “why shouldn’t GB be blamed”

    who do you mean? UK or government of Barbados?

    If UK…they are not the ones controlling EVERY DAY, the legislature, parliament or the judiciary, the little negro descendants of the enslaved with their colonial titles and corrupt, sellout minds are..that’s why i HIGHLIGHTED what they control as civil servants elected by the people…..that’s they ONLY REAL POWER THEY HAVE…and they wield it as a weapon AGAINST THE AFRICAN POPULATION…

    .they are the ones with their uppityness labeling themselves shite elitist with pedigree…..something that does not exist…

    what UK etc did and does, falls under the heading of something completely different, a whole other subject…..completely different to what the sellouts do. although they believe they are in the same league.

    Like

  • @John A

    The Barbados economy has been perched on the back of of tourism for too long, dismantling it in a covid environment where there is no alternative to generate the same volume mean a problem for us.

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  • William Skinner

    @ David; @ John A
    “ The authorities’ long-term debt target of 60 percent of GDP will be pushed out by two years (from FY2033/34 to FY 2035/36) to reflect the impact of the pandemic on the economy………,..,.”

    I tried to explain when @David and all were talking about how great going to the IMF was, that they had missed the salient point, as quoted above by the IMF.
    Note, I never said at any time ,that it was not wise to go. I merely stated that I personally see the IMF as a beautified imperialistic force.
    I also said that the real targets set by the administration and the IMF, would not materialize until 2033/ 34. That was only if all things remained the same.
    We now know that because of COVID, we cannot expect those targets to be met in 2035/36.
    In other words, we now have 15 more years of serious austerity to deal with. This means that we have to hope that there are no more shocks.
    We are now paying the price of pure economic madness by refusing to reform the economy forty years ago. Common sense would suggest that no amount of pretty talk will save us unless we use this period to address the underlying causes both pre COVID and what we need to do post COVID.
    In my humble opinion @ John A, is correct.

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  • @William

    The pandemic was unforeseen. Added to which forex reserves was in the red zone.

    Liked by 1 person

  • @ David

    Two low hanging fruit are definitely alternative energy and agriculture. If we look at a USD saved as a USD earned they are both obvious. This must be done in a clearly formalised way though. In other words take our food import bill and in collaboration with the ministry of agriculture and the private growers, identify what we can grow locally. Then protect those farmers and structure the production to avoid gluts or shortages by formulating which farmers will grow what. Make available land and green houses on state land or the lands of clico. Let government make available the green houses at a monthly rental rate, but do not let them be growers in the project. So for instance the hilly lands of St Joseph and St Andrew could be designated for bananas, figs plantains etc. The flatter lands then for other vegetable crops and so on.

    Like wise identify the rab non agricultural land for alternative solar farms. Again this can be either private/public sector based or private sector based.

    The fx saving on these 2 things alone along with the value added to our economy can be all gained within a 6 month period. I have see Williams in shop hill put down a solar farm up there In weeks and have it working.

    To me we seem to be paralysed by the thought that without tourism as the pillar of our economy we will perish. So wait what brought barbados through its initial growth to the later 60 not agriculture? Solar and alternative energy is the next sugar industry for us, with structured agriculture focused on fx retention being there as well.

    Enough free advise from here on wumna got to pay. LOL

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  • @John A

    The BL&P monopoly license has expired and the market is now open for bidders to supply energy. There is room for agriculture production to increase but the blogmaster is unconvinced it will be enough to fill the tourism hole.

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  • Developed cities and countries have high rise buildings in their skylines nowadays, what is the Barbados skyline like.
    Tall semi-luxury apartments could be built to house the poor on small footprints and free up land which is limited.

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  • Glad to see i ain’t the only body saying things got to change and fast.

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  • @John A

    It is not only Barbados, the region.

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  • When people think about the wealth of the universe it is usually in financial monetary terms but money is just a vehicle for choices and options and the true riches is not about monies and quantity but the is more about the quality of life.

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  • Vincent Codrington

    John A at 3:07 PM

    Life changes. Man should always be prepared for changes. His adaption to the changes must be studied. The rush for changes without analyses is very very dangerous and counter productive. Is the current disequilibrium a blip on the chart or is it a prognosis of long term changes? No one has the answer. But it could just be a blip.
    I share your preference for a balanced ,diversified economic structure,but even the economy is not immune to external or self- inflicted shocks. We should have by now,drawing on history ,know how to deal with our vulnerabilities. The latter term is not a recent invention.

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  • What govt ought to do is speak with great interest on the damage done to the coral reefs and it’s great impact on
    a. The economy
    b.. The environment
    c. The base and foundation of the tourist industry
    Not to compare or reefs to the great Barrier Reefs of Australia
    However the coral reefs and the underground world of plant and animal live has been one of the many attractions when tourist visit other countries
    Hidden inside that environment are barrage of different species which are a fascination to many tourist especially those who like the thrill of deep sea diving
    Protection of the reefs and plant and animal life should have been given great consideration in more ways than one especially at a time when highten consideration Is all about global warming
    It is appaling that before govt made a decision to let these mammoth cruise liners docked in Carlisle Bay for many months
    Govt did not seek the advice of a trained professional marine biologist
    So friggin the sad
    One can also bet that next on the agenda would be the landfill cells which can not hold anymore garbage
    Then What

    Like

  • @ Angela,
    This is a classic case of government negligence. The cruise liners would have been cognisant that irreparable damage was done to the ocean bed coral floor.

    Without the coral lining the sea bed and the sand on our beaches Barbados would be prone to flooding.

    This is another in a long line of government cock ups. Heads must fall. Cruise liners are terribly damaging to our region. The government should recognise this and I repeat ban them from the island. By the way is this government going to sue the ship companies for the damage to our environment?

    Like

  • @ Vincent

    Yes I agree we have to plan change but any change that can reduce our dependence on Fx Is a safe one. In the past when we had a buoyant tourist industry, many would argue that is when we should of diversified. Any business man would tell you the hardest time to diversify is when cash flow is tight.

    Mind you I am not saying we should abandon tourism, not at all. What we do need to do is see what we can do for ourselves independent of tourism. Now that there will be a short fall in earned Fx, we must work towards ventures that can reduce our dependency for imports and FX drain. If tourism does return then its a win win. Notice I said earned Fx as that excludes the borrowed fx that has to be repaid, which is what most of our reserves is made up of.

    No more evident example of this is what Dubai has done. Even with all their oil wealth they have still diversified and are now encouraging tourism and offshore business on a large scale. I just feel we can do more to help ourselves be less dependant on the tourist dollar. If Covid has taught us nothing else we should at least of learnt that lesson from it.

    Liked by 1 person

  • @ WURA-War-on-U

    I noticed de new bloke in town is non other than John A..

    Was Pachamama clothes put on de doorstep???

    You have to find a Tag-team buddy. Maybe 555 Nairobi???

    Like

  • WURA-War-on-U

    Bloggers rotate sometimes.

    Like

  • Vincent Codrington

    @ John A at 6 ;64 Pm
    Not much if anything at all, can I disagree with. Just a reminder that most of what we claim to produce locally have a lot of imported inputs. These require FX.So we do need to do the arithmetic . In any case if we are to raise per capita income above subsistence level we need to trade. That is the main reason small economies concentrate on export goods and services. Those that give the biggest bang per local inputs. Of course that strategy comes high risks.

    Like

  • @ WURA-War-on-U

    So I noticed.

    Like

  • John A May 8, 2021 2:05 PM David
    Two low hanging fruit are definitely alternative energy and agriculture. Enough free advise from here on wunna got to pay. LOL

    Actually, all of that ‘free advice’ has been given by a few of us, ad nauseum and with full explanation on these forums, Barbados Free Press and this blog, even from the time of the Owen Arthur Administration.

    Should be there if anyone researches it.

    All about forex, deficit reduction, alternative energy, agriculture, much more.

    But Governments prefer to hire ‘consultants’ who position themselves well, but deliver nothing of consequence. The prior one just did nothing.

    Hence, I stopped my such advice ages ago. It should still all be there, somewhere, together with contributions from the old excellent contributors, a few of whom have passed on.

    Like

  • PS And yes too, water importance and resourcing, much discussed and solutions advised too, all back then, even before it became ‘popular’.

    Like

  • Tlsn
    Govt gave the permission to the Cruise liners to dock under the banner of a” humantarian cause ”
    Govt even went as far as to void the docking fees for the liners
    Yuh think govt have any legal legs on which to stand
    After all the responsibility would have lie with govt to say No and govt rather prefer to take a PR stunt from a political play book to make themselves look good
    Now all see the end results
    The ownership belongs to govt and not the Cruise liners
    Furthermore on record is the captain of one of the cruise liners thanking govt for allowing them to dock during that period
    The story is sad and begs for govt to find remedy

    Like

  • The brilliant Yardbroom, Bush Tea, Bonnie Peppa, Old Onion Bags, lawyer Amused (though Bonnie may have been one too).

    Like

  • angela cox May 9, 2021 4:45 AM The story is sad and begs for govt to find remedy

    Yes, the pandemic story is sad and is going to get a lot sadder before it gets better.

    What’s your point?

    Like

  • Bush Tea admitted that he supports the BLP, didn’t he?

    Like

  • Some light amid economic gloom
    “Circumstances alter cases” is a well-known expression. It is particularly applicable to our economic and fiscal condition right now.
    This Government came into office determined to bring equilibrium to the national finances. A major aspect of the solution was to restructure the national and domestic debt so as to create fiscal space to generate growth within the economy.
    COVID-19 put paid to all that. While the horses were in midstream, and plans for the reignition of the economy through major tourism development were ongoing, it ran a coach and horses through them.
    The recent news that the International Monetary Fund (IMF) is about to lend us another $48 million will not surprise those who understand international finance and how a country in these circumstances must do what it can to allow itself and its citizens some breathing space while planning for the end of the recession, or in this case, the end of the pandemic.
    It is not surprising that IMF Barbados team leader Bert Van Selm said we missed some performance targets. What had been initially planned had to be reversed. The Government had to increase finances to cash-strapped state-owned enterprises whose cash supply had been wrecked by the impact of COVID-19. In the case of the Queen Elizabeth Hospital and the Ministry of Health, necessary pandemic duties meant that more cash had to be made available.
    It must be a hair-raising ride for policymakers and technocrats who have to crunch the numbers daily and consider how policy at home and abroad is impacting or may impact on those revised plans for economic growth.
    There are, however, shards of light piercing the darkness of the economic depression of our economy occasioned by the ongoing pandemic. Van Selm made the important point that we continue to make good progress in our ambitious and comprehensive economic reform programme.
    The second and perhaps equally critical shard of light is that the foreign reserves are now comfortably placed at US$1.3 billion.
    Now, let us be frank. Some of this is borrowed money but survival is the immediate key and recovery is the mediumto long-term objective.
    On this basis, most Barbadians will feel a sense of limited relief at the pronouncements of our very own Dr Kevin Greenidge, who is a senior economic advisor on loan from the IMF.
    He refuses to see notions of gloom and doom, although he admits that Government’s debt rose by $542 million in the last financial year.
    We have been blown off course. Yet, as Greenidge advises, we have to stick to our vaccination plans and we will see brighter days. This advice, if accepted, will have inwardly and external objectives If we are able to rid our country of the virus, the tourism industry may the sooner be revived. A return to a post-pandemic normalcy should reignite local business activity, which should kickstart the economy and enable us to welcome suitably vaccinated visitors coming to our “future” safe destination.
    As usual, the message is clear. The task of recovery from the pandemic has to be led by Government. It will be helped by popular adherence to the protocols and widespread observance of the anti-COVID-19 healthy lifestyle practices suggested by the authorities.
    As we now approach the upward climb, there must be a national resolve that we will fight.
    We must write our names on history’s page.

    Nation Editorial

    Like

  • Crusoe

    My point being govt knows that many bajans are illiterate to the issues concerning the environment and what is of great importance
    That is why govt tells the public that the South West sewage problem is resolved and people belive the falsehood
    That is why govt let the cruise liners docked in Carlisle Bay and no one raise a stink
    That is why govt can spend money on buying garbage trucks and haven’t placed an importance on the high level of the landfills which are overflowing and causing damage to the environment
    That is why a duffus like you with limited knowledge of the environment can challenge my comments and asked an ignorant question

    Like

  • Think of all the money govt has spent in the tourism industry and very little on the safety and security of the environment
    Covid sent a message
    Carry on smartly

    Like

  • “A journey of a thousand miles begins with a single step”.

    Criticism1: All of this time and you didn’t make a step
    Criticism2: All of this time and you now make a first step
    Critcism3: You are making steps but you are too far behind

    Guess, it is too good of a bone to see any positive

    Like

  • I have never understood finance.
    One minute we are rejoicing for an infusion of a few million, the next minute we are doing deals for 80 (white hoax) or hundreds of millions.
    Like a guy depending on handouts but having a liking for a Porsche.
    Would be glad if a person with knowledge connects the dots for me.

    Like

  • TheOGazertsMay 9, 2021 6:20 AM

    “A journey of a thousand miles begins with a single step”.

    Criticism1: All of this time and you didn’t make a step
    Criticism2: All of this time and you now make a first step
    Critcism3: You are making steps but you are too far behind

    Guess, it is too good of a bone to see any positive

    Xxxxxxxx

    If u comments are towards any criticisms I made towards govt on this present environmental problem and the threat to the marine environment
    You are dead wrong
    U can check BU archives to confirm
    Instead of trying to.put me on blast u can turn that energy out speaking on behalf of the environment an environment which has not remained silent to all the wrong doings being done to the earth
    If you are one of those who have been asleep for years
    Check COVID response

    Like

  • My comments were directed towards Wura’s comments on coding/robotics

    Like

  • There is no separation of negatives and positives.
    Every action, be it forward or backward has a report written and the conclusions are always the same.
    We can all agree that there are numerous things that need fixing – no discussion.
    We should be supportive when fixes are attempted.

    Like

  • I have been called a RH idiot lacking of credibility when I spoke openly about the environment
    Much of it having to do with the landfills and the dangers involved while pressing my preference for a WTE plant
    I have been called a RH idiot when I spoke about govt endangering the under ground flow of the water system by allowing sewage from the Southwest plant to enter the ocean and other water outlets
    I have been called a RH idiot when my comments were critical of govt allowing the liners to dock and the onset of waste matter and other toxins emitted from the liners enter the ocean and make way onto land
    Yes this RH idiot as idiotic as maybe sings from a hymn book of observation and not from no one designed for the political choir
    Now see who is the RH idiot
    COVID ain’t lying

    Like

  • Have a great day AC
    Have a great day Barbados

    With all its sham, drudgery and broken dreams, it is still a beautiful “Barbados”. Be cheerful. Strive to be happy.

    Like

  • Happy Mothers Day to all Mothers who traverse along the hallways of Bu
    You have been bless in knowing the joys and trials of being a Mother

    Like

  • AC.
    Was leaving.
    I have never called you a RH idiot. The reverse is true, I have always admired how you find a little nugget and exploit it or how you can take the dead horse Lazarus and ride it like a winner, though the second death is inevitable. An idiot cannot do that.
    Have a gr8 day everyone.

    Like

  • Theo
    My comments were not directed to u
    Those who did make the nasty remarks know who they are
    Nothing in my comments to such wording were directed at u

    Like

  • It is mind-boggling beyond an sense of understanding that govt would willfully expose the coral reefs and the live inhabitats of the sea world to such a danger
    Where are the voices of the so called environmentalist of Barbados the likes of Kammie Holder whose voice was silent when all this was taking place
    For what it is worth his voice has been one of supporting govt policies yet to hear him speak or object against the blasphemous and damming way govt handles environmental issues those that affect people health and well being
    Such people can be called loose cannons and traitors to country only seeing those things that affect their own well being

    Like

  • Waiting to see if govt will be transparent and honest on this blatant issue
    Mottley gets on the international world stage and speaks about global warming pointing fingers at the leaders of the International World for not helping small island states not to do enough
    Meanwhile she couldn’t help or resist to doing an godly and unjustifiable action which destroys all forms of sea life living underground
    What about the turtles
    Time for govt to put a lid on PR nonsense and do the job of protecting the country

    Like

  • peterlawrencethompson

    @David
    Why is it that Marla Dukharan is only economist who can tell the truth around here? Those who work for the government or IMF are being pathetic excuse makers.

    Like

  • @Peter

    Cannot explain it.

    Like

  • peterlawrencethompson

    Everyone but Duharan is blaming only the government, but the majority of the blame lies with our hopelessly pathetic private sector. The greed and utter incompetence of the Barbadian private sector, particularly tourism businesses that refuse to innovate, is condemning thousands of Bajans to penury.

    Like

  • peterlawrencethompson

    Dukharan told the tourism industry many months ago that they themselves needed to disrupt their own industry. She spelled it out for them that the way forward was to pivot to serve the needs of Welcome Stamp visitors.

    Yet all but a couple of the hotel operators have utterly ignored her. The BHTA continues to spout annoying drivel that is totally disconnected from reality.

    What the EF is wrong with them?

    Like

  • What is surprising is the results that the retail sector in the main has not changed how it is delivering products and services in a post Covid economy. Simply amazing, you cannot make this stuff up.

    Like

  • @ PLT
    Good point as I said above all of them are paralysed in the tradition of tourism. Rather than look outside that box they wait patiently for the return of the glory days.

    Like

  • Since Barbados declared Sovereign Default and engaged the IMF their DEBT STATUS is now WORSE than when they declared default. Granted they DELAYED some DEBT repayment however they have also taken on significant NEW DEBT that more them replaced the old DEBT levels. You CONTINUALLY hear Central Bank and Government proclaiming the Foreign CURRENCY RESERVES are at astronomic positive levels, fail to mention all these funds are borrowed money and need to be REPAID. BARBADOS has the most creative CURRENCY accounting, the ostrich with it’s head burried deep in the volcanic ash.

    The sad point is the POPULACE believes all this HORSESHIT and believes everything is under control.
    Populace us shortly going to find out GOD is not a Bajan, but the DEVIL himself.

    Like

  • NorthernObserver

    Is White Oaks still on a monthly retainer?

    Like

  • It is a question ring asked and not being answered despite the the creation of the DPA.

    Like

  • WURA-War-on-U

    “Is White Oaks still on a monthly retainer?”

    still trying to confirm, but so far, all indications are, that they are…what a HOAX.

    beg, lie and deceive for the vote…”watch muh nuh” then hire consultants to suck the country dry while RACKING UP more and more debt….who can’t see the fallout from all of that…that’s on them…

    one thing my grandchildren and future generations will not do is vote for any slave system with the go-nowhere as leaders….start talking to them from now, the rest they will do on their own…

    ancestors will close in, this has to end.

    Like

  • White Oaks smarter than govt delivers nothing but gets paid

    Like

  • NorthernObserver

    smarter than? I expected “same as” from you? 😲😲

    Like

  • NO
    But same can be said of govt who delivers nothing to the people but collects in taxes and fees
    Maybe they both cut from the same cloth
    As they say birds of feather flocks together

    Like

  • NorthernObserver

    @ac
    I am no ornithologist, but the plumage of pols looks very similar to me. Both are of the breed LP, separated only by “C”. I think the whole lot are so similar to be deemed ‘identical’. And to get contracts at the higher level, they have to be inbred to the LP’s. So your flocking findings are likely accurate.
    What’s the difference between Cahill and White Oaks?

    Like

  • Cahill had PR problem unlike WO who was savvy enough to pull of a stunt
    However if the WTE plant was deliver the people would have benefitted and see what they were paying for
    White Oaks flew high above radar where no one can detect their presence landed on Barbados soil and govt hands over the treasury at free will

    Like

  • Then it is up to Verla to blow the messy transaction to high heavens. Has she spoken to it recently? If not what is preventing her?

    Like

  • David don’t worry uh big head ((almost said little head but on second thought decided that one might be useless as well)
    Anyhow the time is fast approaching when Depezia would speak about the incomptence of govt and govt propensity to.place cart before horse
    Hence the unending purchase of garbage trucks and having no.plan or policies to replace the overused and exhausted landfills

    Like

  • This is what do best. Have the last word.

    Like

  • wont bother to give ya the rest of the bad news, i know certain minds can only handle so much…sometimes it’s best to find things out on ya own.

    Like

  • NorthernObserver

    @ac
    what you failed to infer…both were designed trough feeders. One never got off the ground, the other ……?

    Like

  • NorthernObserver May 9, 2021 10:10 PM #: “What’s the difference between Cahill and White Oaks?”

    @ NO

    There are more similarities between CAHILL and White Oaks than there are differences.

    Both were introduced to Barbadians by stealth, while efforts were made to justify their presence.

    Recall former PM Stuart repeatedly DENIED he SIGNED any documents relating to CAHILL. However, a ‘Heads of Terms Agreement,’ bearing the signatures of Stuart and Claire Cowan, as well as letters signed by Stuart were exposed on social media, thereby indicating the former administration WITHHELD vital information about the project from Barbadians.

    When the copies of the documents were presented on BU, guess who was the first individual to comment? I won’t keep you in suspense:

    “ac May 18, 2016 5:39 AM #: Loud steupse.”

    And, it would be easier for you to guess her subsequent contributions were not dedicated to the topic, but criticisms of Mia Mottley and Kammie Holder.

    But NorthernObserver, the situation got better. During a sitting of the Senate, Maxine McClean and the SAME Verla Depeiza who NOW wants to convince the electorate she is the epitome of ‘good governance,’ called David BU a “TRAITOR” for exposing the DEMS’ lack of transparency and accountability.

    Fortunately, they were forced to withdraw CAHILL, (which, by the way, is still to this day being defended by, ‘you know who).’
    And, according to that individual, “…….a memo was sent out stating there would be no Cahill and since there would be no cahill it is abundantly clear that Cahill would not cost Barbadians a dime.” I agree 100%.

    Unfortunately, however, we did not have a similar type of exposé on White Oaks. And the Mottley administration has shown (and continues to show) a similar, blatant disregard for transparency and accountability.

    What are the terms and conditions of White Oaks’ contract with the Government of Barbados?

    How much has the company been paid for the services it rendered to the country?

    Did they achieve the desired objectives. If so, where are the relevant reports and what is the status of the debt restructuring exercise?

    Has ‘government’ retained their services? If so, then, what are terms of engagement and the associated fees?

    Savings as a result of debt restructuring + White Oaks’ fees = did engaging their services realized significant savings and worth the effort?

    Like

  • @Artax

    True, the big difference between the two is that White Oaks has some kind of a track record.

    Like

  • @ David

    Clare Cowan’s ‘track record’ was clearly seen in a video, in which she described ‘potable water’ as the water in the toilet bowl.

    Like

  • DavidMay 10, 2021 7:24 AM

    @Artax

    True, the big difference between the two is that White Oaks has some kind of a track record.
    Xxxcccccc
    Where is your proof
    Xxxxx
    Going by what is happening under Barbados guidance with WO
    What is being shown is all bite but no bark
    Looks like govt laid in bed with one armed bandits
    Yet to see anything of substance that WO has delivered to Barbados economy
    Please do not mention Barbados not having to pay debt at high interest rate
    When in turn the natives have to pay a heavier cost for the debt

    Like

  • Good one Artax. Cahill was a company setup to fleece Barbados if you check the date it was incorporated.

    Like

  • Don’t ever say I never give you nothing (meaning anything)
    Global Sadhana 40 day challenge
    Invoke the Wealth of the Universe
    Explanation

    Practise

    Like

  • NorthernObserver

    Artax
    this was the document laid before the House, which one Persaud publicly hailed as representative of the newfound transparency of a recently elected GoB
    The rest of your queries are confidential. Their disclosure may pose a national security threat.

    Click to access 713d8df19118bb2ac5742609f9125046.pdf

    Like

  • 6 of one half dozen of de other

    Like

  • 6 of one half dozen of de other

    this is the 100th comment on the subject matter hand which means it is the end of page and time to turnover to a new page in the story of Barbados PLC (DIP)

    Like

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