Let’s see which tranches were defaulted and exactly the amount. And what value the “books” placed on the asset(s). All neatly hidden, because we can never see what those entities who received the “loans” did with that money, other than defaulting on repayment. Everybody got bailed out except the local taxpayer.NorthernObserver (call for transparency by BU commenter in the Paradise/Clearwater Bay matter)
Both major political parties continue to baffle the citizenry with ‘bullshit’ and we accept it. Is Minister Ryan Straughn telling he does not have a recent valuation of the Paradise property to share? Why have we allowed another crisis to go to waste?
At the best of times the Barbados economy was deemed to be fragile because it is a tourism_service oriented economy which makes it ultra vulnerable to what economists warn exogenous attacks from the global economy.
Post-2018 the incumbent Barbados Labour Party (BLP) after winning the general election, recruited a bevy of financial consultants supported by a 26 member Cabinet. Immediately proceeded to opt for a selected default (SD) on foreign and domestic debt. Fate has intervened and the so-called fiscal space created has been eradicated by a raging pandemic made worse by a 2 week period of ash fall from an active volcano next door on St.Vincent.
Acts of nature have tested the adaptability of man from the beginning of time. This is what we must do, adapt.
Is it the imagination of a lowly blogmaster we have allowed our priorities to shift to ‘less pressing’ matters at this time? All local newsfeeds are choked with traffic about transition to a referendum by 30 November 2021 and the consideration by government- supported by private sector- to regulate a mandatory vaccination policy. Further, we had a march reported to be upwards to three thousand people registering public concern. The news from government and Central Bank of Barbados that there is a hole in government’s revenues of 600 million dollars has not registered the same level of protestations from John Public. Is it fully understood the success of expertly managing the economy of Barbados directly impacts quality of life of individuals, households; food on the table, jobs etc?
The blogmaster smiled this week while listening to a Canada-based Barbadian economist beseeching the government to decrease excise/ad valorem taxes to buffer increasing cost of imports. The fight to satisfy our taste for imported goods and services to feed the consumption behaviour continues.
Covid 19 virus feeding the pandemic has had an uncompromising impact on economies of developing countries like Barbados. Unlike so-called developed countries, scarce resources have had to be redirected to defend against Covid 19. For Barbados the issue is made more acute because of the pre-Covid 19 state of the economy.
The structure of the local economy means there is limited prospect of achieving real growth in the short to medium term. The weight of years of debt accumulation means more significant fiscal adjustments – that will be painful – have to be made. Coming after about 15 years of economic fatigue this will spur social fallout. The time has come and gone for our leaders, political and social to govern, to lead. A recommended first step in that process is to immediately desist from baffling the citizenry with bullshit and set about the task of setting realistic expectations.
A word to the wise should be sufficient.
Consulting your doctor prior to vaccine is the best approach. Everything is turned up.
Yep…can’t get the vaccines out fast enuff before a brand new variant pops up out of nowhere.
Here is some good news, love sharing hope. Still wondering if the ending is now seen as foreseeable READ..controlled, was the beginning also controlled..
“It’s not over just yet.
Dr. Anthony Fauci says the U.S. won’t emerge from the COVID pandemic until next spring at the earliest.”
Not that most of us who are here right now will have to be bothered by, with or about 2078, but our offspring will…
A commonsense deduction.
I was hearing this but everyone is old enough to form their own opinions.
This one is parental choice.
People have to make their own informed decisions and LIVE WITH THEM…there is NO SHORTAGE of available information to work with..
More baffled sh..it as govt continues to develop a strategy for all intents and purposes to send messages which purports that govt is actively pursuing paths to save taxpayers money
In the last three years million dollar contracts to big name companies along with high end consultants
The five contractors who were involved in the multimillion-dollar road works project along Highway 1 have been instructed to rectify the flaws along that road.
Minister of Transport, Works and Water Resources Ian Gooding-Edghill said they were all told to complete the snagging work left behind after the ten-month long resurfacing of the road.
The minister and a team from the MTW, including Charles Griffith, minister in the ministry; deputy chief technical officer, Philip Tudor and deputy chief technical officer, design, Jason Bowen, took to the radio call-in programme Down To Brass Tacks yesterday following several calls from concerned citizens about the state of the completed road.
Many complained that the drains and manholes were below the road surface; that the road appeared uneven in certain areas and that the newly paved road flooded last Friday during heavy rainfall. (MB)
This is the reality…