Discussion re COVID 19 and the Economy
The following is a short discussion with President of the Barbados Association of Medical Practitioners (BAMP) Dr. Linda Williams (Epidemiologist). Dr. Natasha Sobers ( Epidemiologist) from the UWI, Cave Hill and Senior Economic Advisor to the government Dr. Kevin Greenidge – Head of the CBC TV 8 Sanka Price lead the discussion supported by Head of News at Voice of Barbados Stetson Babb.
Barbados Underground 
Critical AnalyzerAugust 5, 2021 6:00 AM
What can you expect when our own CMO saying Bridgetown is a COVID hotspot.
(https://barbadostoday.bb/2021/08/05/cmo-bridgetown-a-covid-19-hot-spot/)
++++++++++++++++++++++++++++++++++++++
TheOGazertsAugust 5, 2021 6:14 AM
@Critical
Did you read? I thought he was open.
My little city with a fraction of the population of Barbados has a similar number of cases and many more deaths than Barbados has. (We count a death once)
++++++++++++++++++++++++++
CA
I don’t know of Grasshopper’s little city but Bridgetown can be explained by the desal plant!!
Grasshopper
How is your little city supplied with water?
What sort of water treatment?
LikeLike
On the other side of the economy
Money in the bank
DEPOSITS INCREASING BUT MORE PEOPLE DEFAULTING ON MORTGAGES
By Marlon Madden
Barbadians are continuing to save more despite the economic challenges, with domestic currency deposits reaching a record high of just over $12.4 billion at the end of June, according to the latest Central Bank report.
However, more people defaulted on their mortgage payments and financial institutions tightened lending criteria and focused new lending on supporting existing clients.
The Central Bank report noted that domestic currency deposits increased by some 5.1 per cent in January to June this year, to reach $12.5 billion, up from just over $11.9 billion for the same period last year. The total domestic currency deposit for the review period represents a 1.7 per cent increase over the $12.3 billion for all of 2020. Domestic currency deposits averaged just over $11 billion between 2017 and 2019.
Meanwhile, foreign currency deposits totalled $713.1 million for the review period, compared to $774.7 million at the end of June 2020, which represented an 8.6 per cent increase. This also means that foreign currency deposits for the first half of this year outgrew the $693 million for 2020.
Delivering his economic review recently, Governor of the Central Bank of Barbados Cleviston Haynes noted that the climb in domestic currency deposits was due to the “combined effect of Government’s fiscal stimulus and higher personal savings by individuals”.
The increase in foreign currency balances, he said, reflected growth in balances of the personal and non-financial business sector.
“The expansion of foreign currency deposits of these corporations was driven by activity in the legal services and purchases of luxury properties in the real estate sector,” Haynes explained.
However, while savings continued to rise, so did non-performing loans, raising the credit risks in the banking system.
Haynes gave the assurance, however, that the financial system remained stable, with “manageable” credit risks.
“During the January to June period this year, deposit-taking institutions remained highly liquid and well capitalized, with buffers well in excess of the statutory requirements.
In addition, profitability for banks improved mainly as a result of lower provision expenses compared to the prior year when financial institutions raised provisions as a precaution against COVID-19-related credit losses. Interest rates remained at historically low levels,” the Central Bank Governor reported.
During the review period, it was noted that activity in the credit market remained weak as financial institutions, which were confronted by uncertain economic conditions, tightened their lending criteria and focused new lending on existing clients.
Haynes pointed out that the moratoria programmes that dominated 2020, as a result of the COVID-19 pandemic which resulted in major job losses, have largely come to an end.
However, he said, some borrowers, mainly in the hotel and restaurant sectors, continued to benefit from extended moratoria arrangements.
The Central Bank Governor has urged individual borrowers to speak with their financial institutions if they continue to face hardship and have difficulty repaying their loans.
“I would encourage persons, if that is their situation, to have a word with their bank and indicate the challenges they may be facing and discuss how their situation can be ameliorated,” he said.
“Generally, all institutions are offering their customers a menu of assistance via restructuring, debt consolidation, refinancing of loans and case-by-case extensions of moratoria.
Several borrowers have consolidated and restructured their outstanding loans to make repayment plans more manageable in the face of lower income.”
Non-performing loans as a percentage of total loans trended upwards during the review period, largely due to the increased classification of loans to the tourism, real estate and personal sectors.
While mortgage-related non-performing loans registered a modest increase during the period, driven by personal mortgages, these remained below the levels for the corresponding period of 2020, partly due to recoveries.
Meanwhile, credit to the non-financial private sector by deposit-taking institutions contracted by 1.1 per cent during the first half of the year.
Haynes said this decline was driven largely by a reduction in loan balances of individuals which outweighed loan growth to utilities and other sectors.
“The decline in lending to individuals was driven by mortgages and credit cards, which accounted for more than half of the overall reduction for the sector,” he said.
The Central Bank is expected to release the 2020 Financial Stability Report in the coming weeks. This is expected to shed more light on the health of the local banking system. marlonmadden@barbadostoday.bb
LikeLike
In the early days of COVID I clearly remembering saying that one the borders are opened the Virus will spread and would be very hard to contain
Fla govt committed the citizens to more of the same policy and is reaping high hospitalization of its people amongst the vaccinated and unvaccinated
LikeLike
City – nuff nuff people in small small spaces. Accustomed to being up in one anudder faces. Difficult to physical distance. Difficult to even remember to try.
My neighbour seems to have moved his bar next door.
Nuff nuff space and OUTDOOR SEATING.
Most St. Philip bars take advantage of outdoor space.
Not available in Bridgetown and its environs.
LikeLike
Govt has a huge problem on its hands not going to be easy to solve
LikeLike
US advises citizens to reconsider travel to Barbados. Will the British and Canadians be next?
P.S. No, not at all. I admitted to being wrong about the initial covid warnings of Angela Cox. Called her Henny Penny.
I had and have absolutely no problem bringing that up, even though Angela Cox never did.
Now you have a go! It is truly liberating! The other way is a drag!
P.S. I see my point has yet eluded you. That pesky comprehension problem! I do not think we speak the same language.
LikeLike
Wait! Score 2 for TheO!
Made me laugh for the second time in one day! After all these years of failure we have a tremendous breakthrough!
Never give up!
LikeLike
We are having breakthrough COVID 19 infections so why not.
LikeLike
@John A
Your friend.
Worrell: Ramp up COVID-19 tests, jabs
https://barbadostoday.bb/2021/08/05/worrell-ramp-up-covid-19-tests-jabs/
LikeLike
Do you realise that the USA was giving out these advisories from time to time? Do you comprehend that this advisory put barbados in a better light that the previous on ( level 3 instead of 4).
Did you not see the tourist still coming under a level 4 – and increasing every month? what do you THINK will happen under a better advisory – more lock downs?
You are so lost .
LikeLike
With vaccinated people able to spread the Delta virus
Mia should be worried
The virus does not sleep.and the portocols only serves limited purposes
Human beings are social and like to touch
There is no jab to control the emotions of human beings
Reason why small islands should have steered clear of the virus and worked in a unified manner amongst themselves
LikeLike
The whole world should be worried. It is why we refer to it as a pandemic.
LikeLike
David,
Why are you worried? We have it on good authority that covid is in our rearview mirror.
Travel advisories matter not, red zones and green zones matter not, new variants matter not. All shall return to 2019 normal since the only thing in its way is lockdowns which will not be happening. The world has the technology to adapt vaccines to new variants and they can be manufactured purchased, delivered and administered in two shakes of a lamb’s tail. If necessary, all the people of the world will line up and be vaccinated…and vaccinated…and vaccinated… and vaccinated…
There shall be no further disruptions.
Sit back and relax! Tourism will be back in time to save our economy!
LikeLike
DavidAugust 5, 2021 11:11 AM
The whole world should be worried. It is why we refer to it as a pandemic
Xxxxxxxxxx
It is clear that with any issue that affects govt negatively who are willing to use your cloud of asinine defense to protect govt
Did not this govt allowed social engagement by way of parties jam packed bus rides amongst an overseas Travel group called Haywire on Barbados shores recently in the midst of a pandemic
Did u not hear the silence of govt response
So how you can make a charge with your nimble response of wanting to show that Mia is worried
Given the numerous photo pics of the Haywire group maskless and enjoying themselves
LikeLike
Why you donât give the advice to Ron DeSantis.
#steuspe
LikeLike
Came across this regarding media bias in the BBC.
LikeLike
Who ever Said lockdowns Will not be happening?
Ur last comment is full of IT
LikeLike
“Do you realise that the USA was giving out these advisories from time to time?”
Indeed, there was a time the US was warning about going to Barbados and yet the US was handling Covidi worse than Barbados was.
At that time I was thinking ‘I would rather be there than here’. I never said it to the lobby.
The Barbados team has done a wonderful job managing Covid-19. Mia chose wisely.
LikeLike
DavidAugust 5, 2021 12:57 PM
Why you donât give the advice to Ron DeSantis.
#steuspe
No I am telling u so u can give the advice to Mia
Better yet tell her to stop blaming and shaming the people
When she like DeSantis allowed people from hot spots to enter their countries
LikeLike
LikeLike
You did mention it.
LikeLike
I Said
We Will not be going back to 2020 lock downs. There Will be flare ups But they Will be handle differently now that we have vaccines.
Not going back to. ** 2020.** Lockdowns
Not going back to 2020. Type / kind of lockdowns
2020 is there for a reason
comprehension skills???
LikeLike
re The whole world should be worried. It is why we refer to it as a pandemic.
The whole world DONT HAVE TO be worried YET.
CAUSE IF WE ARE TO BELIEVE WHAT JESUS SAID IN MATHEW 24:4-8 WE AINT SEE REAL PANDEMIC YET.
AND IF WE ARE TO BELIEVE WHAT THE SPIRIT SAYS THROUGH JOHN IN REVELATION 6 WE CAN SEE THAT THIS CORROBORATES MATHEW 24:4-8, UH LIE?
AND THE ECONOMIC HAVOC ACOMPANYING COVID TELLS ME THAT THE EVENTS PPREDICTED IN REVELATION 18 WILL OCCUR JUST AS PROMISED THERE.
NOW COME ON AND MOCK GP BUT BEFORE YOU DO, READ 2 PETER CHAPTER 3 ESPECIALLY VERSE 9
This second epistle, beloved, I now write unto you; in both which I stir up your pure minds by way of remembrance:
2 That ye may be mindful of the words which were spoken before by the holy prophets, and of the commandment of us the apostles of the Lord and Saviour:
3 Knowing this first, that there shall come in the last days scoffers, walking after their own lusts,
4 And saying, Where is the promise of his coming? for since the fathers fell asleep, all things continue as they were from the beginning of the creation.
5 For this they willingly are ignorant of, that by the word of God the heavens were of old, and the earth standing out of the water and in the water:
6 Whereby the world that then was, being overflowed with water, perished:
7 But the heavens and the earth, which are now, by the same word are kept in store, reserved unto fire against the day of judgment and perdition of ungodly men.
8 But, beloved, be not ignorant of this one thing, that one day is with the Lord as a thousand years, and a thousand years as one day.
9 The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.
10 But the day of the Lord will come as a thief in the night; in the which the heavens shall pass away with a great noise, and the elements shall melt with fervent heat, the earth also and the works that are therein shall be burned up.
11 Seeing then that all these things shall be dissolved, what manner of persons ought ye to be in all holy conversation and godliness,
12 Looking for and hasting unto the coming of the day of God, wherein the heavens being on fire shall be dissolved, and the elements shall melt with fervent heat?
13 Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.
14 Wherefore, beloved, seeing that ye look for such things, be diligent that ye may be found of him in peace, without spot, and blameless.
15 And account that the longsuffering of our Lord is salvation; even as our beloved brother Paul also according to the wisdom given unto him hath written unto you;
16 As also in all his epistles, speaking in them of these things; in which are some things hard to be understood, which they that are unlearned and unstable wrest, as they do also the other scriptures, unto their own destruction.
17 Ye therefore, beloved, seeing ye know these things before, beware lest ye also, being led away with the error of the wicked, fall from your own stedfastness.
18 But grow in grace, and in the knowledge of our Lord and Saviour Jesus Christ. To him be glory both now and for ever. Amen.
LikeLike
Somebody bust open the PM of St. Vincent head with a rock outside Parliament
LikeLike
#BREAKING- Vincentian PM Dr Ralph Gonsalves injured outside of Parliament during protests in Kingstown; persons are protesting Public Health Amendment Bill – which requires certain categories of state employees to take COVID-19 vaccine in order to work in specified frontline jobs
LikeLike
Q. WHO WILL SOLVE ALL THE CHAOS EVERYWHERE IN THE WORLD?
A. HE IS CALLED THE LAWLESS ONE, OR THE MAN OF SIN OR ANTICHRIST
Q WHEN WILL HE COME TO SOLVE ALL THE PROBLEMS OF THE WORLD?
A HE IS SCHEDULED TO APPEAR AFTER THE RAPTURE OF THE CHURCH HE WILL EMERGE FROM THE ONE WORLD GOVERNMENT WELL DESCRIBED IN DANIEL 9.
Q. WHEN WILL THE RAPTURE HAPPEN?
A. NO ONE KNOWS “THE DAY OR HOUR”…….BUT THE SAME PASSAGE THAT SAYS THAT WE CAN NOT KNOW “THE DAY OR HOUR” IN MATHEW 24, TELLS US THAT WE CAN KNOW THE GENERAL TIME.
MOCK GP …BUT BEFORE YOU DO READ MATTHEW 24 AND ASK THE SPIRIT TO HELP YOU TO SEE.
IT SEEMS THAT A PLAN IS COMING TOGETHER.
DONT YOU LIKE IT WHEN A PLAN COMES TOGETHER?
I NOW UNDERSTAND WHAT IS MEANT BY ” MEN’S HEARTS WILL FAIL THEM FOR FEAR”
LikeLike
RE Somebody bust open the PM of St. Vincent head with a rock outside Parliament
WAS THE ROCK INJURED IN ANYWAY?
LikeLike
https://newsroom.gy/2021/08/05/st-vincents-pm-gonsalves-injured-during-protest-in-kingstown/
“Around 7:30 p.m., some protesters celebrated the prime minister’s injury, beating drums and chanting, “The World Boss head buss!”
In the campaign for the November 2020 general elections, the prime minister declared himself “World Boss”, having led the country to a non-permanent seat on the United Nations Security Council.”
LikeLike
I wonder how you recognised the comment was meant for you. Was it because it was full of IT? IT of course being the opinions you were expressing.
My point remains that none of us, INCLUDING DONNA, knows what will happen with this pandemic. We can express our opinions but WE do not KNOW. We can only HOPE.
I repeat, I HOPE you are correct to be HOPEFUL. (You stupidly called that trying to save face, so I guess I HOPE the pandemic runs rampant and wipes us all out, thereby proving me right.)
So to finish my point, we cannot depend almost totally on tourism to provide for us in the manner to which we have become accustomed. We have to do SOMETHING differently.
Now… what are our points of disagreement again?
Over and out!
LikeLike
This is crazy.
LikeLike
John2 July 31, 2021 1:23 PM
Donna
We have a vaccine and the techonology to make a new one to adjust to the mutants when needed. We – as In the world is not going back to early COVID-19 lockdown etc
We Will live with covid ad adjust to suit But not going back to those days
Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
John2 August 3, 2021 9:48 AM
Didnt god give us brains to think?
Neither fauci or Said we are 100% certain that we are are not going back into lockdown
We Said we dont THINK we Will go back into lock Down
I have no argument just opinions
My opinion is that we are over the worst But we must still be on Guard. There Will be flare ups But there Will not be the lockdowns like In 2020
The vaccines are working
The Numbers show it.
We have the ability to use booster if necessary
We have the Technology to adjust the vaccine to the DNA of the virus (if needed) according to how they evolve .
Maybe another novel virus But not covid 19 or it mutants
Xxxxxxxxxxxxxxxxxxxxxxxxxxxx
Severely Challenge at comprehension!
Do not pay attention to details!
Poor memory !
LikeLike
I repeat, I HOPE you are correct to be HOPEFUL. (You stupidly called that trying to save face, so I guess I HOPE the pandemic runs rampant and wipes us all out, thereby proving me right.)
Xxxxxxxxxxxxxxxxxxxx
Talk about stupid?
Why would i or anyone Else Think that of anyone for any reason farless just to be right?
LikeLike
I wonder how you recognised the comment was meant for you. Was it because it was full of IT? IT of course being the opinions you were expressing.
Xxxxxxxxxxxxxxxxxxxxxxxx
Because i am not as stupid as tou would like me to be
LikeLike
If tou have an opinion on what we should be doing differently. Why dont u Express it instead of trying to lead Down ur Rabbits hole?
This is like Miller trying to g’et me to say something about the hyatt / malmoney situation
LikeLike
For the foreseeable future tourism will gradual come back to play a great role In our economy – unless we find Oil
The us no greater fx Earner and employer that tourism.
Other sectors Will grow But none of them has the potential as tourism ( fx and jobs)
Growth In tourism Will also cause growth In other sectors like agriculture
We all know and agree that diversisity is best
LikeLike
That should be – “severely CHALLENGED at comprehension, DOES not pay attention to detail.”
I see grammar is also a problem.
Silly man, I ask again – what is our disagreement?
Oh lord, give me faith!
LikeLike
By the way, if I was trying to save face by saying that I hoped you were right, it suggests I did not mean it.
THEREFORE, I must have HOPED you were wrong.
SMH. Images of the 3 yr olds again! Never, never did I have this problem!
LikeLike
“. rather than .”
LikeLike
If you are referring to this prolonged and seemingly pointless exchange, yes, it IS crazy! Or it is driving me crazy. I cannot get this man to understand what I am saying. We seem to speak different languages. I cannot accept it and so I persist.
You and I disagree on almost everything but I do not think we misunderstand what is being said.
This is the second time I have bashed my head against the brick wall. The first time was to do with the St. George bi-election. ( So, my memory is actually very good.)
On that occasion, I gave up. Now again, I admit defeat.
LikeLike
You cannot THINK what our disgreement is?
The last disagreement i Can REMEMBER is
U implying that i Said lock Down are over with
After u realised ur mistake You tried tiu ile trick of savning face by takling about diversfying the economy
Before that i was pointing Out that people dont normally follow the advisories and that the last advisory by the usa was and improvement – You n the other had seemed to Think it was an indikation of bad thing to come ( for our tourism)
LikeLike
PM
By the way, if I was trying to save face by saying that I hoped you were right, it suggests I did not mean it.
THEREFORE, I must have HOPED you were wrong.
SMH. Images of the 3 yr olds again! Never, never did I have this problem!
Xxxxxxxxxxxxxxxxxxxxxxxx
am not surprised at your reaction. After trying on two occasions to BS my opinion on two occasions and probably realising how stupid you fauci/god response was you tried to save face by HOPING i am right. then tried to lead me down a rabit hole and i refused to follow.
Xxxxxxxxxxxxxxxxxxx
Maybe i give You to much credit In understanding
Maybe i should have sad – You tried to save face by pretending you hope i was right
Hoping was put In caps for a reason
How Can u hoping that that we all g’et wiped out (or whatever it is u Said) be face for u after u realised u fauci/god comment was stupid?
LikeLike
Face saving
LikeLike
@John2
Is your role to deliberately baffle the blog with bullshit?
LikeLike
Source: Nation
LikeLike
so I guess I HOPE the pandemic runs rampant and wipes us all out, thereby proving me right.)
Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
That thought never once entred my mind ,
You May have a hard head. But i dont Think any person would hope the pandemic would run rampant ( and just to Prove a point or be correct).
We both may Think the other one is stupid But……….not that low/ crazy
If i had thought that is what u meant then i would have been calling You Out on where your Heart is
It never one entered my mind until You Said it
Just saying. Thats my last on that part
LikeLike
Uh-oh! BY NOT BI
LikeLike
Exactly! That is why your “saving face” response was absurd. The comment was obviously a genuine sentiment. I am not the self-destructive kind. I was simply urging caution in the midst of hope.
And advocating that we change our mindset towards tourism as our one and only saviour. It has proven to be a fickle saviour.
As the cliche goes, “It cannot be business as usual.” We must turn our thoughts to “business unusual”.
That was all I was saying even from the Central Bank review blog.
A mere five percent growth after a shutdown and reopening shows us how dependent on tourism we are. It is therefore not good news.
LikeLike
If thats directed at me then tou lost me
LikeLike
8:04am
LikeLike
Correcting an error.
LikeLike
ClassifiedsRead ePaper
Home / Covid-19 / COVID-19 watchdog eyes City shopping mall as potential ‘super-spreader’
COVID-19 watchdog eyes City shopping mall as potential ‘super-spreader’ – by Emmanuel Joseph August 6, 2021
The Government’s COVID-19 watchdog has zeroed in on the bustling Swan Street shopping thoroughfare as a potentially explosive spreader of the virus.
“We have been seeing a worrying trend developing in Swan Street where you have a number of persons who gather there,” c, head of the COVID-19 Monitoring Unit told Barbados TODAY. “Swan Street is one of those areas where a lot of people go shopping…. There are a lot of crowds and so on. We will be looking into that to see what we can do about that.”
He did not elaborate on the likely restrictions to be introduced to the busy street mall.
Chapman said it is not good sense for people to spend their time in a crowded area just liming.
“I know we want to be close to one another and so on, but it is something that we will be looking into and see if we can help minimize the risk in places like that,” he said.
Chapman also revealed that more than a dozen protocol breakers are facing charges in court.
LikeLike
Bridgetown again!!
Where do the people who test positive live?
Map those locations.
Below 200 feet on the south or west coast … or not?
LikeLike
8:27
We been there done that already
I Said my piece on tourism already and already disagree with you that the 5 % turn around is not good – we look at it from different angles
LikeLike
U Will be very busy trying to impress with ur attentuon to detail – after it had been pointes Out
LikeLike
I got a feeling it won’t be too long before we see both Biden and Harris impeached.
Cuomo will go the same way too unless he resigns.
LikeLike
Maybe i should have sad – You tried to save face by pretending you hope i was right
Xxxxxxxxxxxxxxxxxxxxxxxxxxxx
Pretending was definately the wrong Word
Long day and was end of night before i closed Down
LikeLike
Biden and his handlers are setting him up for impeachment.
Might be this month.
LikeLike
Who would imagine that those fools on the rocks should still be clinging onto a tourism industry decimated by covid-19. Eighteen months have elapsed and these morons are still unable or unwilling to restructure their economy.
LikeLike
TLSNAugust 7, 2021 4:06 AM
Who would imagine that those fools on the rocks should still be clinging onto a tourism industry decimated by covid-19. Eighteen months have elapsed and these morons are still unable or unwilling to restructure their economy.
++++++++++++++++++++++++++++++++++++++++++++++++++++
Economic activity in Barbados has always been dictated by outside interests.
You find that the “Offshore Sector” is the major plank of the economy, not Tourism and the Offshore Sector is going through its challenges with its close links to criminal activity.
The brief period post WWII where sugar was king was just that … brief!!
Even that period was a reflection of the extreme shortages of the commodity outside of Barbados.
LikeLike
The biggest problem we have with our economy is the criminals don’t want to get caught.
They are laying low.
True from before COVID, during COVID and after COVID.
Maybe we need to throw the criminals to the wolves.
LikeLike
Source: Nation
LikeLike
Source: Nation
LikeLike
A big rock thrown at the Auditor general head
Phew what is this world becoming
Who would be NEXT?
LikeLike
‘We’re not going to lock down our economy,’ White House says
https://www.yahoo.com/news/were-not-going-to-lock-down-our-economy-white-house-says-210223176.html
LikeLike
China port congestion worsens as ships divert away from Ningbo
https://aje.io/ddxtfr
LikeLike