Time for Budget is Now

Budget

Amid the din of Covid 19 noise muted calls from the Democratic Labour Party (DLP) and the United Progressive Party (UPP) for the government to deliver a ‘budget’ have gone largely unnoticed by the public. The blogmaster agrees given the comatose state of the local economy the call is justified.

It is no secret the BLP inherited a sick economy in 2018 made worse by the ongoing pandemic that has negatively affected tourism – the key economic driver and contributor to foreign exchange earnings. Prime Minister Mottley is politically aware to know a budget at this time will encourage an uncomfortable national debate about the economy. She prefers to buy time to find ways to breath life into the economy, attack the high unemployment and more importantly ready the Barbados Labour Party (BLP) party for the general election due in 2023.

It is unfortunate that in our system of government the narrow interest of political parties always trump national interest. To apologists who posit that the majority of Barbadians prefer to enjoy the Yuletide season instead of listening and discussing a budget exposes the inability of Barbadians to assess the perilous state of the economy. The government of Barbados must be encouraged to constantly communicate to Barbadians its fiscal and monetary measures designed to kickstart the economy, the sooner the better. 

Barbadians are described as an educated people, successive governments have allocated significant sums to the education Head amounting to billions of dollars – see page 599 of the 2021-2022 Barbados Estimates. Unfortunately we have not seen the investment translated to a vibrant, independent level of financial analysis and thought in the public space. We are a country mired in debt, locked in an IMF program with a junk status credit rating with key assets and institutions owned by non Barbadians. What more do educated Barbadians need to know to be galvanized out of a sense of civic responsibility to get Barbados back on track? What will it take for Barbadians to become strident about the inability of successive governments to implement transformative policies as they are about replacing the word God with Creator in a non binding document? What better time for the government to confide in the citizenry plans for improving the economy than during the month of November when we celebrate independence and moving to a Republic?

The last 15 years have been one of the worse periods of our existence as an INDEPENDENT nation. Let the election cycle begin – should we vote the same old B or the same old D is the question. What is that the Chinese proverb again?

If you do not change direction, you may end up where you are headingLao Tzu

109 comments

  • (Quote):
    What will it take for Barbadians to become strident about the inability of successive governments to implement transformative policies as they are about replacing the word God with Creator in a non binding document? What better time for the government to confide in the citizenry plans for improving the economy than during the month of November when we celebrate independence and moving to a Republic? (Unquote).
    ++++++++++++++++++++++++++++++++++++++++++++

    Imagine that! Mainly black Bajans having the ‘brainwashed’ intellectual time and energy to fight over the ‘name’ of an imaginary ‘sky being’ given to them by the English who enslaved their very own Africa-originated ancestors.

    Wasn’t King James-one of the biggest hypocrites who ever lived and who authorized the bible for white Bajans to ‘read’- an ‘intimate’ companion of George Villiers?

    Meanwhile, the commanding heights of the Bajan economy are owned and directed by foreign people(s) who do not subscribe to any of those tales written in Jewish book of mythology.

    Why would a so-called devout Christian country like Barbados allow itself ‘to be forced’ to borrow money and rely so heavily on material goods manufactured in non-Christian China?

    Isn’t China, in the eyes of Bajan Xtians like the 2 GPs, an ungodly pagan communist country controlled by the devil?

    Why not terminate ties with that pagan country instead of allowing the spread of unchristian practices to Barbados like the non-recognition of all gods in the public space except Yudi and Wēnshén (the god of plagues) to save Bajans from the public heath challenges and potential economic fallout from the new variant of the Covid-19 called the Botswana ‘black’ devil.

    Liked by 1 person

  • 2o21 budget as follows.

    We brek
    We got a big deficit
    We got bad cash flow
    We going borrow from China

    Budget past 29 to 1.

    Wait wunna expected more? Now about the republic let we focus on that please! LOL

    Like

  • @John A

    How does one align your comment to the false expectations of households and other players in civil society? Is there enough evidence to influence a change in behavior and expectations?

    Like

  • @ David

    The economy is where it is because of the policies regarding covid etc. The curfew, the requirements for visitors to enter, the uncertainty of the road forward, have all stifled this economy. Add to that the indecisiveness of government to be able to mandate vaccinations has all caused us to lose millions in economic activity.

    Right now we are basically in December. Those tourist who have booked will not even be able to celebrate old years night as the curfew is 12 pm and they will be dancing in masks. Meanwhile in Antigua the hotel association went to the PM there explaining their concern on old years and Brown moved the dropping of all protocols to December 27th to facilate the industry.

    We have our selves to blame and we need to accept it and stop looking for red herrings.

    Like

  • @John A

    The economy was fragile before Covid 19.

    Like

  • Vincent Codrington

    This is click bait. I shall hold my peace.

    Liked by 1 person

  • @Vincent

    We must conclude you see no need for a ‘budget’?

    Liked by 1 person

  • @ John A

    Based on what I’ve been told, Antigua’s COVID-19 state of emergency will end at midnight on December 22, 2021, which would see an end to the curfew and restrictions on the freedom of movement….. which, as you ‘said,’ essentially means a reopening of the island’s economy.

    Parties for the upcoming Christmas holidays and New Years events will be permitted. But, the organisers of those fetes must allow entry only to those patrons who have an official COVID-19 vaccination identification cards, whether issued in Antigua or overseas for tourists.

    Additionally, government will also restrict activities to one fete per day with a minimum of 300 people in attendance.

    However, from what I understand, all the protocols have not been dropped as you seem to be suggesting. Clustering, beach picnics, music or alcohol consumption will not be allowed. And, the protocols relative to wearing mask, social distancing, sanitizing and family gathering restricted to 25 persons, remain in place.

    The difference is, Browne introduced a mandatory vaccination policy……. Mottley did not.

    Liked by 1 person

  • Wouldn’t it be better to do the budget at the end of the financial year as usual ( March ) next year?
    This financial year is almost over

    Liked by 1 person

  • @John2

    The poor state of the economy especially with covid 19 call for more frequent updates from the government about what is happening. It is not a business as usual scenario with the public having to be satisfied with sound bites from consultants.

    Like

  • The PR machinery is at work. What does this affirmation from the credit rating g agency men? That we can borrow at low rates from the capital market again.

    Sign of confidence from rating agency

    By Shawn Cumberbatch
    shawncumberbatch@nationnews.com
    Standard & Poor’s (S& P), satisfied the economy is poised for recovery from COVID-19 and that Government is adequately managing debt and its fiscal affairs, has decided not to downgrade Barbados’ credit rating.
    Yesterday the international credit rating agency announced that it was keeping the country’s rating at B-, having upgraded it last December, and maintaining the stable outlook.
    Government’s senior economic advisor Dr Kevin Greenidge called it “quite an achievement and is a testimony of their confidence in Barbados’ economic programme and in our handling of the pandemic, both in terms of responses and in the execution of policies”.
    The economist also hoped it would signal to investors that Barbados was emerging from the unprecedented economic “lash” it received from the pandemic and remained an attractive place to do business.
    S& P predicted that Barbados’ economic growth this year “will be slower than expected as the island copes with the after-effects of ashfall from a nearby volcanic eruption and Hurricane Elsa, while continuing to manage its COVID-19 exposure”.
    It therefore lowered the 2021 real gross domestic product (GDP) projection to 1.7 per cent, but said it expected tourism to gather momentum in late 2021 and continue to recover next year as airlift capacity and vaccination rates increase.
    “We believe the Government’s strong commitment to the Barbados Economic Recovery and Transformation (BERT) programme will continue to facilitate its ability to manage the near-term economic impact,” said the rating agency.
    “Economic recovery will pick up in 2022 as Barbados manages the near-term impacts of recent natural disasters and the COVID-19 pandemic,” it added.
    S& P said its rationale for the stable outlook was that “despite the near-term impacts of the hurricane, volcanic ashfall and the ongoing pandemic on the economy that led to a slower-thanexpected recovery, Barbados continues to make progress under its domestic BERT programme, as well as meet the benchmarks under the [International Monetary Fund’s Extended Fund Facility] programme, which facilitates access to financing from multilateral institutions”.
    Reserves
    This was in addition to its view that “high reserve levels will continue to provide external liquidity
    to support Barbados’ balance of payment position”.
    “The persistent nature of the pandemic, along with additional shocks to the economy, has led to more fiscal and external pressures as the Government increased its outlays for health care and clean-up related spending, while tourism receipts remain diminished,” S& P said.
    “Nevertheless, the Government has continued to meet its reform targets . . . which allowed Barbados to access external funding from multilateral institutions that will support its reserves position and provide financing for its fiscal deficit, as well as its debt service payments for the upcoming 12 months.”
    Barbados’ B-minus credit rating is below what S& P considers investment grade, but based on its information, Barbados is one of 14 countries in the 32-strong Americas grouping that S& P rates not to be downgraded, or be given a negative outlook during the pandemic. In addition, no countries in the Americas has had a credit rating upgrade from S& P during in this period.
    Greenidge told the Weekend Nation
    the report confirmed that “our economic fundamentals remained intact throughout the pandemic and the country is poised for recovery”.
    “We had one of the largest economic downturns in history – last year 18 per cent – because we are tourismdependent, and in most tourism-dependent countries that downturn happened. So even in the face of that, for S& P to come and look at your numbers, and remember we got upgraded last year, and say ‘we are going to maintain that position’ is an achievement,” he said.
    S& P said it could lower Barbados’ credit rating over the next year “should the impact of the pandemic lead to larger fiscal deficits than we currently expect, and we believe that the Government would not have sufficient funding to meet its fiscal or external financing needs”.

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  • @ David

    On further ‘investigation’ I realised ‘government’ laid and debated ‘The Estimates’ in Parliament, for the past three years, as is constitutionally required.

    My questions are, against that background, is a ‘Budget Speech’ is a constitutional requirement and if not, is it necessary to have one every year?

    Or, are we conflating or using the ‘Estimates Debate” and ‘Budget Speech’ interchangeably?

    Liked by 2 people

  • Barbadians are meant to snap up 125 million Treasury Notes of 125 million without being taken into the confidence of the government?

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  • The economy is where it is because of continuous dependence on Tourism and “offshore Tax reduction”.

    More eggs should have been put in the basket in times of plenty to help in times of need.

    buh doan mine me. De maguffees like Vincent and the GPs know betta dan me.

    Liked by 1 person

  • Updates or Budget – Which one are u calling for right now ?

    John A

    The Covid situation in getting better. Who is not yet vaccinated may have already been infected. IMO the curfew will be lifted before the partying begins

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  • What about our rh lifeline?

    Concern over NIS’ local investments
    ONE OF BARBADOS’ leading actuaries is concerned about the National Insurance Scheme’s (NIS) big exposure to Government investments and its overall heavy reliance on local economic activity.
    Lisa Wade, principal at the Barbados-based acturial consulting firm Eckler Ltd, highlighted these issues on Tuesday partly in the context of the NIS suffering losses during the 2018 domestic debt restructuring, and the increased financial pressure faced during the COVID-19 pandemic.
    She also urged Government to provide timelier information on the social security scheme while facilitating “broad public consultation in terms of the framework for moving NIS forward”.
    Viability
    Wade was speaking during her firm’s annual
    Investment Policy Review For Pension Plans, held online for a second consecutive year.
    “The Scheme’s success is very, very heavily tied into the Government of Barbados’ ability to manage its fiscal position. Seventy-four per cent of the fund is still held post debt restructuring in the Government of Barbados and quasi-government of Barbados securities,” she said.
    “Therefore, it really is still exposed to the fact that if Government is not able to right its finances there could be a further write-down in terms of debt and thus it’s vitally important for the Scheme’s continued viability that the Government of Barbados manages its fiscal position.
    “It should also be noted that a significant portion of the Scheme’s assets, when we add the major funds together, 95 per cent of the assets of the whole National Insurance Scheme spanning all of its funds, are invested locally within the Barbadian economy,” she added.
    Wade said this “really honestly means that NIS’ success is heavily invested in the success of the Barbadian economy, as we don’t have much of a level of geographical diversification to provide any hedge for poor local economic performance”.
    Her view was that the NIS’ investment strategy should be similar to private pension plans, which focused on “diversification in terms of asset classes, the issuer of the securities, maturity of securities and geographical diversification”.
    She also acknowledged that it was difficult to move or make changes in the NIS’ investment asset allocation due to the difficulty in trying to liquidate the Government assets it now held. Geographical diversification of the investment portfolio would also be challenged by restrictions on the use
    of foreign exchange.
    Wade called for “a more robust framework for National Insurance in terms of policies” and public consultation on its future direction.
    “This is a Scheme in which the entire country is invested in with assets over $4 billion; we need to start providing information to the public on a more timely basis…to give confidence that the Scheme is being administered in as professional manner as possible,” she said.
    Central Bank Governor Cleviston Haynes, who addressed the Eckler forum, said Government was developing a recapitalisation plan for NIS.
    “I think we all recognise that the NIS needs to be put in a position where it is able to deliver the benefits which it is supposed to deliver and which are promised. So Government is in the process of developing the actual plan,” he said.
    Haynes said there also needed to be less reliance on the NIS for retirement savings.
    “A strong wellmanaged pension system will . . . be crucial to supplementing the National Insurance Scheme. Workers need to consider enhancing their pensions through voluntary but consistent savings during their work life,” he advised.
    “Pension plans… need to be managed effectively to ensure retirees can enjoy their retirement without pressure. At present there are only 259 registered pension plans, suggesting that there is scope for a broadening of the sector.” (SC)

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  • @Arta Of course the government debated the Estimates required by law but you must ask how has the Budget been used by governments in the past and take consideration of the present state of the economy affected by Covid 19. It is not a business as usual scenario.

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  • @John 2

    No patience for your word play this morning. The government needs to stand up in the parliament and present a financial statement/budget call it what the ass you want. Talk to the rh people about the economy and what the government is doing to fix it. The government was elected to serve us!

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  • “The last 15 years have been one of the worse periods of our existence as an INDEPENDENT nation. Let the election cycle begin – should we vote the same old B or the same old D is the question. What is that the Chinese proverb again?”
    Break down:
    10 yrs Thompson/Stuart
    3 yrs Mottley
    2 yrs Arthur
    Period covered: 2006 to present.
    Question:
    Have we gone from the lost decade to the “ worse” fifteen?
    So have lost half a decade somewhere in there?
    Use and abuse of statistics.

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  • Off script What were the Covid number for yesterday? I did not see any published

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  • Vincent Codrington

    @David Bu

    It depends on what you define as a budget. We have a tendency to set up straw men and then knock them down.
    Did we not have extended sessions that debated and passed a document called The Estimates of Revenue and Expenditure earlier this year ? That is the Public Sector Budget.
    Did we not attempt to discuss the 4 quarterly Reports of the CBB given by the Governor?
    Did you not ventilate on this blog the several intermittent reports of the IMF, IBRD, IADB, CDB, ECLA? And those of Saba, Dabro and he crew?
    What are your expectations from your “Budget”? Has the definition of a budget changed since we have become de jure a republic?

    Liked by 1 person

  • @William

    What is the purpose of your comment? Does it make a difference to what is being asked if the government? Too petty man.

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  • David.

    U like u confused. It’s not me that calling it what I like. It you that call for a budget

    I went with that. It you that shift it to updates

    @awareofminining

    Liked by 1 person

  • @Vincent

    See comment to Artax, we are managing a dynamic situation. That incremental budget exercise is irrelevant to what is required to manage in the current situation.

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  • @John2

    Carry on smartly, the blogmaster is battle harden when it comes to distractors.

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  • This govt is known for not being transparent and accountable and the people are tired begging and asking for good governance
    Today Persaud is trying to put spin on an article which was publish by a UK paper last week exposing govt plans on Chinese projects
    The article also went in depth as to how Chinese influence is becoming part and parcel in Barbados economy
    Presaud called the article sinister
    However did not state why and could not refute what the article explicitly laid out in a transparent manner
    Termed Chinese influence in Barbados

    Liked by 1 person

  • How are you different compared to Persaud? What about the article you can support because it is factual?

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  • David

    Why at this point do you need a budget to fixed the economy?

    Last two economic reports showed the the economy was/is growing.

    What do YOU think need adjustment/ fixing?

    Liked by 1 person

  • (Quote):
    The economist also hoped it would signal to investors that Barbados was emerging from the unprecedented economic “lash” it received from the pandemic and remained an attractive place to do business. (Unquote)
    ++++++++++++++++++++++++++++++++++++++

    It would help immensely as a confidence booster if the GoB could persuade Maloney to inject some of that US$ 175 mill into the Bajan economy via the start of construction of that long overdue Hyatt erection.

    How else can those houses in varying parts of Christ Church be sold unless the economy is firing on more than the one government-borrowing cylinder in order to provide jobs for potential buyers and create a measure of confidence in the long-term sustainability of the same Bajan economy?

    Liked by 1 person

  • @John2

    You are perfectly aware the term budget is a lose term for an event where government can give an update on projects, initiatives, how allocations to heads may call for drawdowns from the consolidated fund etc. instead of one of those two hour covid press briefings that are not boring people to death, allocate one for a fire side chat but talk to the people about the economy. Talk about the economy growing must be taken in context from a low jump off point. Stop the smoke and mirror stuff people.

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  • Vincent Codrington

    @ David Bu

    We need no fireside chats we are bored to death with them. There is enough commentaries on the state of the economy. Unless the MoF is taking a radical change in fiscal policy ,we simply do not need any chats. The Data is published for all to see.
    We tend to hold on to outdated practices even though the environment has already changed.
    Under the last administration during the budget session we the public was subjected to unadulterated campaign speeches. Do we want more of that or better?

    Liked by 1 person

  • Vincent Codrington

    As i alluded before this blog is behaving strangely. I think it is being hacked.

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  • Vincent Codrington

    David Bu
    Small Open Economies are always in Dynamic mode. That is the reason we have always chosen GoBs that have the skills to manage in a dynamic situation. What I would like you and other persons to bear in mind is that leaders and their ministers are not Magic Men. They have scarce resources of mind and money.

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  • “The poor state of the economy especially with covid 19 call for more frequent updates from the government about what is happening. It is not a business as usual scenario with the public having to be satisfied with sound bites from consultants.”

    It ain’t over until a fat lady sings
    B.1.1529 variant is new news spreading Southern Africa expected to be designated today by World Health Organisation

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  • Vincent we know your comfort level with maintaining the status quo and this is your right. Any well run business will complete an a budget and usually on a monthly basis will review performance vis a vis the budget to determine effectiveness of strategies funded by various allocations in the budget. What some of us are saying is that the performance of the economy is in a precarious state made worse by Covid and prospects for improvement changes from week to week. It is not a business as usual environment in which we are operating. Bits and pieces of information released in the noise of all that is happening is not enough. It is the economy stupid.

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  • @Vincent

    You state the obvious, you should add SIDs with open economies being buffeted by covid 19 an unprecedented event.

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  • Vincent Codrington

    David Bu
    From the day Barbados rose up out of the Caribbean Sea., and was inhabited it was a Small Island Developing Country. What is the import of your last intervention/comment? The oligarchs had to manage it until the mid 1950s. Barrow and the Adams had to manage it. Mia and her cabinet have to manage it. For God’s sake please wake up. I am a realist. Not a spouter of hot air.

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  • Should barbados close travel to and from some affected aareas of new variiant

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  • DavidNovember 26, 2021 9:56 AM

    How are you different compared to Persaud? What about the article you can support because it is factual?
    Xxxxx
    There is nothing that Persaud could refute
    Everything stated was truth
    He tried pitching a ball to dismissed the article
    However the ball flew way past the stumps

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  • The Miller
    Recall, that this christianity is nothing more than another manifestation of paganism as deployed by the devout pagan Constantine as a way of consolidating political and military power.

    These christian pagans are better described as Constantinians. Indeed, the first places for Constantinian pagans to worship him, as god, were location directly above temples for the worship of the dominant pagan god at the time, in that area.

    So there must never be any quarter of respectability given to those idiotic pagans pretending to be followers of a man who has never been proved to have ever existed.

    Like

  • Sinister or truth

    To support its claims, the author of the Times article cited the presence of Chinese labourers at the Sam Lord’s Castle, Chinese-manufactured buses, a handful of Chinese-built houses and a pharmaceutical salesman in Bridgetown who remarked “we’ll soon be ‘little China’” and feared the country would “fall into a debt trap”.

    The article also referenced planned refurbishments to the decrepit national stadium, upgrades to the south coast sewage system and plans to erect Chinese-made prefab houses for those who lost their homes during the passage of Hurricane Elsa

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  • David
    The absence of a budget is a purely political decision.

    It has nothing to do with any need for good governance, as is your pet peeve.

    Even the routine engagement in such annually legislated posturing makes no substantive differences in who we are, where we’re heading, as necessary as we presume.

    On reflection, these fudging of numbers, seem to hold no enduring relevance beyond the parade of mostly illiterate partisans playing to empty galleries.

    Liked by 1 person

  • @ David

    In Barbados a ‘Budget Speech’ usually takes the format of the Finance Minister informing Barbadians of ‘government’s’ financial plans such as, for example, implementation or amendments to taxes and projected income or loss as a result.

    Then, what real purpose does it serve other than provide a format for politicians to brag about how many roads they had to fix that were left undone by the previous administration and to score cheap political points against their opponents?

    I’m sure everyone in this forum remembers former PM Arthur’s scathing replies at the end of the Budget debates

    It has also been used by successive administrations, especially when a general election is pending, as a campaign strategy, during which they would announce the reduction of taxes, increase in claims for personal income tax allowances, etc……. as a means of soliciting votes.

    I remember reading that, in May 1976, Barrow replaced bus fare by stage with an island wide rate of 25¢.

    Then there was the famous Richie Haynes ‘back raise budget’ in 1986, which people claimed was responsible for ‘Bree’ St. John and the BLP’s loss in the May 28, 1986 general elections.

    So, there is a debate for ‘The Estimates’ and one for the ‘Budget Speech,’ at which there is political grandstanding.

    My question remains, is the ‘Budget Speech’ necessary constitutional requirement?

    Liked by 1 person

  • I think some people are panicking here. We need to stop flailing about wildly and calm down.

    There is no easy way out of this situation. The horse is bolting again and there is little we can do to stop it.

    There is no magic wand here. It’s going to be rough!

    The last thing I want to hear is a budget speech full of annoying hyperbole when all that can be done at present is to wing it.

    Hopefully we will be still standing when the dust settles.

    Liked by 1 person

  • Be careful what you wish for! Mia longed to be prime minister from childhood.

    I wonder if she is enjoying the challenge.

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  • @Pacha

    How do we leap from your cynical perspective to one where we get to a relevant governance system. It has to start from somewhere? Now is as good a time given the current state of the economy for thr government to be examined under the microscope, especially with a general election coming. It could prove a mighty uncomfortable time for the incumbent. It is time to do as you often suggest and adopt a slash and burn approach.

    Down with the status quo!

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  • Now that you put it that way, David, I remember what I thought at the beginning of the pandemic.

    This is a good time for deep examination and change.

    So far there has been little evidence that we are so engaged.

    Liked by 1 person

  • History Edit

    In 2004 Barbados was added to China’s list of officially approved tourist destinations by the government in China.[7][8][9] with Barbados’ former Prime Minister pushing for an open air accord between both nations.[10]

    Over the years a number of building projects have been carried out with Chinese government assistance these include: The Wildey Gymnasium,[11] two adjustments on the Lloyd Erskine Sandiford Conference And Cultural Centre, a Home Vegetable Growing Experimental Center, embroidery, grass weaving and feather handicraft. A consideration was also giving according to the Prime Minister of Barbados, David Thompson for China to assist with the opening of a new cruise ship facility in Barbados.[12]

    Following the 2008 Sichuan earthquake, the Barbadian prime minister visited the Chinese Embassy to personally sign the book of condolence to the nation.[13]

    In July 2010 Barbados opened its first resident Barbadian Embassy in Chaoyang District, Beijing.[14][15][16]

    In 2014 both governments signed visa waiver agreements for travel by nationals from both nations.[17][18][19] Later in 2014 there was also an agreement signed in Barbados to establish a branch of the Confucius Institute at the University of the West Indies.[20][21][22][23][24]

    In late 2015 the Chinese Navy hospital Ark ship visited the Bridgetown port.[3], [4], [5],

    In February 2019 Barbados and China signed a MOU for Barbados to officially join the Belt and Road Initiative.[6][7] He Lifeng, chairman of the Chinese National Development and Reform Commission (NDRC), and Jerome Walcott, minister of foreign affairs and foreign trade of Barbados, held talks in Beijing, and the two sides exchanged views on jointly building Belt and Road cooperation between China and Barbados. Later that year China’s resident Ambassador to Barbados, announced 11 graduate students would be sponsored to study in China. The recent figure brings to a total of over 90 Barbadians who have taken part in the studying in China programme.[8] Other goals outlined in 2019 included China building providing technical assistance and funding for building a laboratory to ensure international product accreditation standards and address sanitary and phytosanitary rules of the World Trade Organisation (WTO).[25]

    In 2020 the first batch of roughly 3 dozen BYD rechargeable electric buses were delivered to the Government’s Barbados Transport Board.[26][27][9]

    In late 2020 the British media reported that United States military intelligence[28] spread an allegation to the Boris Johnson United Kingdom government that Barbados was dropping the Queen as Chief of State to appease China.[29][30]

    Cxxxxxxxxxxxxxx

    Taken from Wikipedia

    Why try to blame one government for the relationship with China – another yellow herring !

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  • David November 26, 2021 9:56 AM #: “How are you different compared to Persaud? What about the article you can support because it is factual?”

    @ David

    Good question.

    I’ll remind you of Jewel Brathwaite’s article in the June 28, 2016 edition of the ‘Barbados Advocate,’ entitled, “Wyndham Starts,” in which it was mentioned Sam Lord’s Castle was to be rebuilt with a BD$240M loan provided by the Chinese ‘EX-IM Bank’ and executed by the Chinese ‘China National Complete Plant Import and Export Corporation.’

    https://www.barbadosadvocate.com/news/wyndham-starts

    I’ll also invite you to read the following article in the November 25, 2015 edition of the Jamaican Gleaner online newspaper.

    “Barbados has acquired a US$170-million (BD$240M) loan from China Exim Bank for the redevelopment of the Sam Lord’s Castle hotel, which is to be operated under the Wyndham brand.”

    “There is renewed interest in Barbados from a tourism perspective, and the Wyndham brand, sitting on the site of the former Sam Lord’s Castle, will add to the growing list of branded properties setting up business in Barbados,” said Prime Minister Freundel Stuart at the signing of the loan agreement.”

    “Construction will start in 2016 and finalised in 2018. The contractor for the project is China National Complete Plant Import & Export Corporation.”

    https://jamaica-gleaner.com/article/business/20151125/chinese-bank-funding-rehab-sam-lords-castle-hotel

    My suggestion would be for people to do a bit more research and be fair and balanced when discussing these issues.

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  • HANTS
    RE De maguffees like Vincent and the GPs know betta dan me.
    THANKS FOR INCLUDING ME WITH THE IMMORTALS LIKE VINCENT AND GP2 IN BUSYNESS AND ECONOMICS AND THESE HIGH MATTERS MAN
    I AINT LEARN MUCH SINCE I USE UP DE SCHOLARSHIP I IS AN EX SCHOLAR NOW

    BUT YOU SHOULD BE STRUMMING ON YOUR GUITAR AND SINGING
    ONE OF THESE FELLAS DONT BELONG TOGETHER
    ONE OF THESE FELLAS IS NOT ONE OF THE SAME

    YOU CAN USE DE TUNE FROM SESAME STREET AND CLEAN UP DE LYRICS OR MEK UP YOUR OWN TUNE

    BUT BETWEEN U AND I De maguffees like Vincent and the REST OF DE FELLAS ALL MEKING DEM POINT AND DE DRINKS FLOWING.. I WILL HAVE A PLUS OR A TIGER MALT

    Liked by 2 people

  • Time for a Budget

    Exercise in futility
    The spokes person for the imf says No
    The IMF helps govern.this country and there word is law which supersedes of rules for good governance
    Why because we owe them money

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  • Their deaths bring the lives lost to COVID-19, so far, to 223.

    https://www.nationnews.com/2021/11/26/five-lose-battle-covid-19/

    Like

  • @ David.

    I will wait till I hear the budget to comment. What I know is that while numbers do not lie, one can present those you want to and omit the ones you don’t.

    It is easy to stress how much in my wallet and not mention who I got to pay this evening. Anyhow I will await the budget when ever it shows up. While March is the financial year end it is customary to get a budget around this time.

    Of course all that was pre republic maybe that too has changed. LOL

    Like

  • I am unsure what “we” think a Budget will provide?
    It is highly unlikely to provide any greater clarity or accountability on a number of topics.
    Press reports already mention comments from the PM on ‘unspecified projects in the works’, which is a staple for all administrations of the GoB. And reports from whomever is Gov of the CBB.
    And since the most recent international credit report did not downgrade the Barbados rating, this can be used to proclaim “tings OK”. It doesn’t disqualify the offering of the Republic Bond. Nor inflict any further financial pain, should any borrowing rate be impacted by such ratings.
    Nearly forgot…a Budget. Future plans and financial projections. Simply, not a good topic.
    So lewwe drink a few rums, and delight in the new Republic, and observe even the stupid son of the reigning UK monarch is coming to witness her expulsion.

    Like

  • Rich man poor man Beggar man thief Doctor Lawyer Indian Chief

    “Barbadians are meant to snap up 125 million Treasury Notes of 125 million without being taken into the confidence of the government?”

    I take it you are rich rich

    Like

  • NO

    The flight taking the idiot out of the island can be symbolic

    Like

  • @John2
    can we not see that plane leaving, and all those aboard, and all those on land in the departing party have little cartoon like bubbles above each with the same inscription “good riddance”. 😂😂

    Like

  • @John2
    hit send too early…
    I think it is known as a win-win situation?
    Unsure Grenville would agree, but otherwise.

    Like

  • David

    What you have dearly hope for has always been an impossibility – tinkering verses radical transformation. Yet you seem to be unwilling to consider the true orders of magnitude being engaged.

    Maybe, just maybe, you should allow historical precedents school you as to how, given the vested interests acting as conservators of the status quo, will allow only the death of established organizing governance principles make room for transformation. Indeed, if these same forces cannot continue to contol “the world tomorrow” the dead will continue to be given life.

    Like

  • @ Northern

    I am not listening for the numbers as much of that the governor has given, what I want to hear though is the measures.

    Now we heard minster Straughn already hinting at a “tuning” of the customs tariffs to ensure government is not cheated of tax. Of course nothing was mentioned about plugging the holes in our collecting system though. So like Robin Hood he will take from who he can find and ignore the others.

    What I want to hear is the “meat” of the plan. Tell me how you going close the deficit and if land tax going up for example, or what is the master plan. Of course if you fixed the tax collection strainer we would not need to pay more for toilet paper say, but that is small matters anyhow.

    Tell me how wunna plan to run an economy on a substantially lower level of income with the same expenses. You see i would like to know so I could cut back the 1 door shop expenses the same way! Like should I cut back on security say and feed the old dog only once a day for example?

    Like

  • For real
    She said, “Oh, you rich rich?” (“You rich rich”)
    Bitch, I graduated, call me “Big Fish” (ballin’)
    I got Lori Harvey on my wish list (that’s Lori)
    That’s the only thing I want for Christmas (true story, uh)
    I’ve been had my way out here, yeah, know that’s facts (facts)
    You ain’t livin’ that shit you sell, yeah, we know that’s cap (that’s cap)
    You ain’t got to ask me when you see me, know I’m strapped (brrt)
    DC, OVO, we back again, we goin’ bad (ooh, ooh)

    Like

  • I do not care what the British think. This is about what WE think. Thinking about what they think is a waste of time.

    It is for us to make this meaningful. This is about us, not them. It is about how we feel about ourselves. We already know how they feel about us.

    We have to render that to be insignificant.

    Like

  • Reduce wastage. Reduce inefficiency. Cut out corruption. Push agriculture. Push renewable energy.

    Forge or strengthen links with like-minded nations within the Caribean.

    All the other stuff is beyond me.

    On May 25th, 2018, I would have said have frank conversations with and engage the masses in a national agenda.

    But several missteps have been made along the way and I doubt that that is possible now.

    It’s going to be a long hard road.

    Like

  • @Pacha

    How does one discover the tipping point? A series of unpredicted events by actors involved?

    #gladwell

    Like

  • @NO

    As citizens part of our role is to be vigilant. Calling for a national debate/budget is central to raising civic awareness. We maybe be inclined to be cynical looking into the rear view mirror but there is a lot of untraveled road ahead.

    Like

  • NO

    It’s all symbolic

    He coming just to turn over the crown to Sandra. So He is allowed one last royal visit.

    When he come in we should be still be under the Liz ( symbolically) When he departs we own Sandra will be wearing we crown

    Like

  • @JohnA
    smack smack
    You awake yet?
    Good
    Now listen. We are NOT lowering our standard of living. Neither is any other nation in debt up to their ying yang.
    All we wish to hear, is how can we re-finance our existing debt and/or which of our debt holders will provide debt relief and/or where can we borrow money at lower rates with longer repayment schedules.
    We have called 463.
    This sh!!te about deficit reduction, lowered levels of income/revenue, similar or rising expenses, sustainability….
    We intends to spend just as much as we have in the past. Or more. That has nothing to do with revenue collected, it is simply what the people need. They have earned it, they are entitled to it.
    I gone

    Like

  • @NO

    Do you have an opinion on the Fortress Funds?

    Like

  • David
    There will not necessary be one – a tipping point.

    Maybe, we’ve passed it already without recognition.

    Social scientists all over have been saying that “the centre cannot hold”.

    We may arise, or not, one morning to a totally diferent world. And different does not mean better.

    Macabre? Maybe!

    Liked by 1 person

  • No opinion…know nothing about them.
    Simple approach….seek investments which have a leg in the international markets.

    Like

  • So keep far from the Republic Bond issue…LOL.

    Like

  • As I said earlier I am taking a TheO on that topic.
    My many earlier comments on GoB paper, and subsequent events should be instructive.
    You might ask yourself, what has changed?

    Like

  • @NO

    The government.

    Like

  • The contents of the kitchen cupboards are more relevant than the chef.
    Unless of course IOU soup is one of your favourites.

    Like

  • @ Northern.

    Lol you sure you not running in the next elections cause you sounding like you looking for a ministry? 😅

    Like

  • I think you call that the trust now pay when or if you can plan.

    Like

  • You maybe surprise how mere words can instill confidence in some unenlightened souls.

    Like

  • @JohnA
    I am agnostic, Ministries are of no relevance to me.
    In a similar vein, I think the believers say…In God we Trust, all others kindly pay cash.

    Like

  • Recalling the BU Bond salespeople Alvin and Angela? Their equivalents of today, are sure to step up soon.

    Like

  • John A November 26, 2021 5:57 PM #: “I think you call that the trust now pay when or if you can plan.”

    @ John A

    It seems as though you implemented the plan in your ‘one door’ establishment. And, notice, I mentioned ‘establishment’ rather than ‘one door shop,’ because you may have a mega mart.

    I was going to ask if you have any vacancies for people to stock the shelves. But, then again, you guys would give that job a fancy title, such as ‘Logistics Coordinator,’ and the candidate must be a Certified Professional Logistician….. only for you to place a notice in the newspaper saying, ‘having received no suitable applications for the post, we intend to apply for a work permit to bring in a non-national.’

    Like

  • A Dragon Reborn
    This budget ain’t happening, but this Republic is, so don’t switch off just yet.
    The nation will have to find it’s groove from it’s deficient past, and will then have to make it better for it’s children in the wheel of time.

    Like

  • L’État, c’est moi. (Louis XIV of France)

    What the old king can do, our Supreme Leader has long been able to do. Mia Mottley is accountable to no one. She rules our island like the Leviathan.

    Liked by 1 person

  • @ William

    “Break down:
    10 yrs Thompson/Stuart
    3 yrs Mottley
    2 yrs Arthur
    Period covered: 2006 to present.
    Question:
    Have we gone from the lost decade to the “ worse” fifteen?
    So have lost half a decade somewhere in there?
    Use and abuse of statistics.”

    Xxxx

    Is there a lack of appreciation for where we find our place in history today ??

    Liked by 1 person

  • @William

    Consider

    What life will be like in 2025 in the wake of the outbreak of the global pandemic and other crises in 2020, some 915 innovators, developers, business and policy leaders, researchers and activists responded. Their broad and nearly universal view is that people’s relationship with technology will deepen as larger segments of the population come to rely more on digital connections for work, education, health care, daily commercial transactions and essential social interactions. A number describe this as a “tele-everything” world.

    Like

  • The 15 years are calculated by the blogmaster from 2006/7 at the start of the global financial crisis.

    Like

  • @ Artax.

    No please I might be a old one door shopkeeper in the bush with the side of the shop prop with wallaber post. Lol

    You know the ones that had a Weight under the scale pan to cover ” spillage.” That kind of “propriortier” as the fellows at laff it off would say.

    Listen them old fellows could teach many of these politicians and modern day businesses a thing or two about basis economics. They raised families off a small shop, educated their kids and bought a few properties well In their day. Of course many would argue that was a simpler time.

    Which leads me to ask as a people are we really better off today? Or is it a case where the old folks in fact had it better than us in real terms?

    Like

  • @ Artax

    Let me quantify the last paragraph above a bit clearer.

    What I am asking is this, was let’s say a middle class couple where the husband worked at Cave Shepherd as a supervisor and wife maybe as a legal secretary, actually better off financially today say than in 1985? The question is did the increases in salaries for these 2 jobs over the last 35 years keep up with inflation, or are these persons now in real terms poorer than 35 years ago? Is it about income or is it about buying power in real terms vs salary compared to that of 1985?

    The reason I ask this is if salaries on the whole have not kept up with inflation over the last 2 decades, then how can we expect any real econimc recovery as the average person would now be poorer in real terms?

    Just food for thought.

    Like

  • Is it about income or is it about buying power in real terms vs salary compared to that of 1985?

    Standard of Life Quantity of Life Vs Quality of Life
    Now let me meditate on some issues
    O Globalisation
    O Outsourcing
    O Automation
    O Zero Hour Contracts
    O Global Financial Crises
    O Wage Freezes / Wage Cuts
    O Cost of Living Rises
    O Global Wealth Inequality

    But, there has been some leveling
    now everyone is poorer

    and much dumber
    people don’t change when they get older
    they become more extreme
    and are now plagiarising conspiracy theorist copycats
    on a world wide web sitting in front of computer screens

    Like

  • David

    Look at your internal contradictions. On the one hand, your christianity is to be a standard variable. On the other, you expect a government, as so misguided, to be the Grouch and steal christmas with budgetary realities. LOL

    These two should not comfortably coexist.

    Like

  • @Pacha

    Christiananiry is a dogma which used by man to fuel wars and rumors of wars. Human beings yearn for a belief system to feed their purpose.

    Like

  • Vincent Codrington

    @ David BU at 8:24 AM
    As a human what purpose do you yearn to feed?

    Like

  • @Vincent

    To be a good person.

    Liked by 1 person

  • Vincent Codrington

    @! David BU at 8:58 AM
    That is precisely the target of those who profess and practice other religions/ faiths. But they are merely targets and from time to time they will not hit the “bull’s eye”.

    Like

  • @Vincent

    The blogmaster respects the right of anyone to access a belief system of their choice including the atheist.

    Liked by 1 person

  • David

    What about the extremists in all religions?

    At what point do your central tendencies take absolute responsibility for these acts?

    And why should these inhumane impositions, all religions, be a given?

    Where did these religions come from? Was our world always so determined?

    Like

  • BTW, atheists are regligious groupings as well.

    Liked by 1 person

  • @Pacha

    This is why emphasis was made by the blogmaster to single atheism and gives support to the use of Creator in the Charter if Barbados wants to do more than pretend it is an inclusive society, a tenet espoused by the christian religion?

    Like

  • David
    Your type of inclusivity would not be ours.

    Inclusivity, like independence, can only take root where historical imbalances are rebalanced. Those should be our focus. Not making ourselves acceptable to newly emerging “norms”.

    That kind of language is destructive. It ignores 500 years of history. No real development can so come.

    Liked by 1 person

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