Barbados: Debt Warning, Foreign Reserves Watch

debt

The latest chatter on the local newsfeed is about Barbados’ scheduled repayment of $928 million dollars by end of 2029. To avoid attracting the wrath of government’s senior economic advisor Dr. Kevin Greenidge, Barbados borrowed $870 million since 2018, the difference of $58 million is interest due supporting Greenidge’s argument that IMF money is the cheapest in town if compared to what is available on the open capital market. 

The blogmaster is happy to observe the concern being expressed by all and sundry about the accumulation of the public debt- foreign and local- by the BLP government since 2018. However, we should not forget how we got here.

Successive governments have been responsible for our current debt level which is reported to be about $13 billion. Barbadians have been reassured by Greenidge the $870 millions borrowed from the IMF represents a small 6.4% of total debt. Wonderful. The government has stoutly defended the borrowing by reminding the debt level was 18 billion when the Mottley government took office in 2018. Ideally if the pay down was from earnings, we could be satisfied the country was positively addressing repayment BUT it was largely due to a debt restructure.

We read retired professor UWI Michael Howard skepticism presented in the press this week and Dr. Robinson had his say in today’s Nation. The debt is too high. However given the design and current state of the local economy it is a problem we will have to tolerate for a generation or two IF corrective measures are taken now. 

A more immediate concern is protecting the health of the foreign reserves. The longer the conflict between Ukraine and Russia continues and serves to undermine the global financial market and disrupt global supplies to small island developing states, there is a chance of foreign reserves being compromised. It was reported the increase in import cost of fuel for Q1’22 compared to last year was significant. The the root of the debt accumulated is successive governments lazily satisfying the conspicuous consumption behaviour of citizens. Citizens have skin in this game.

The crisis that is unfolding in Sri Lanka should remind small developing countries like Barbados what is possible. This week the government of Sri Lanka banned the sale of fuel for two weeks. A person does not have to be ‘smart’ to understand the implications of making such a drastic decision. 


Sri Lanka suspends fuel sales for two weeks as economic crisis worsens

Ban on sales to everything except essential services comes as nation tries to conserve fuel supplies that are barely enough to last a single day

A Sri Lankan security official stands guard outside a fuel station that ran out of petrol in Colombo, Sri Lanka on Monday.

A Sri Lankan security official stands guard outside a fuel station that ran out of petrol in Colombo, Sri Lanka on Monday. Photograph: AFP/Getty Images

Agence France-PresseTue 28 Jun 2022 01.30 BSTLast modified on Wed 29 Jun 2022 05.10 BST

Cash-strapped Sri Lanka has announced a two-week halt to all fuel sales except for essential services and called for a partial shutdown as its unprecedented economic crisis deepened.

The south Asian nation is facing its worst economic meltdown since gaining independence from Britain in 1948, and has been unable to finance even the imports of essentials since late last year.

As fuel reserves hit rock bottom with supplies barely enough for just one more day, government spokesperson Bandula Gunawardana said the sales ban was to save petrol and diesel for emergencies.

Long queues at the Department of Immigration and Emigration in Battaramulla, Sri Lanka.

Read more

He urged the private sector to let employees work from home as public transport ground to a halt.

“From midnight today, no fuel will be sold except for essential services like the health sector, because we want to conserve the little reserves we have,” Gunawardana said in a prerecorded statement.

He apologised to consumers for the shortages: “We regret the inconvenience caused to the people.”

https://www.theguardian.com/world/2022/jun/28/sri-lanka-suspends-fuel-sales-for-two-weeks-as-economic-crisis-worsens

329 comments

  • One does not have to be a student of anything; an observer would realize that the two sides of the coins have the same face.
    Not failed, but deliberately and irrecoverably failing.

    Once you have come to that conclusion, it is difficult to take anything seriously.

    Like

  • @ William

    Actually it is that simple. You see numbers dont care who in power nor do they give a rats ass bout reasons for or excuses. They are contstant and the outcome depends solely on maths.

    So i dont waste my time on people, race or party i stick soley to numbers. If you dont I cant help you. If all you deduct from this is I am either a liar or hate Motley you got my sympathy. You see that is the mistake nuff make. They get involved in party then try to dress up the facts to suite. Not me who in power matters not.

    Like

  • @John A

    You have been following Richard Sealy calling out Lisa Cummins as a liar re: sovereign assets under lien to China? Even during our most challenging period post independence we can’t get serious.

    Like

  • @ David
    “In Brazil, where hunger is surging, urban gardens offer a glimmer of hope.
    The Latin American giant once led the global fight against hunger, largely thanks to generous public spending that lifted millions out of poverty. Between 2004 and 2013, it slashed the number of people going hungry by more than half, from 9.5% to 4.2% of the population.
    But a painful recession, coupled with a punishing pandemic and surging inflation, have wiped out those gains. Some 33 million Brazilians – 15.5 percent of the population – are now going hungry, new research by a network of civil society groups that include Action Aid and Oxfam showed this month.”
    ~~~~~~~~~~~~~~~~~
    33 MILLION Brazilians are going hungry.!!!!
    A small handful planted some community gardens over the past year as a last desperate effort to eat…

    Surely you jest David.
    This is even sadder news that the ac story.
    Brazil SHOULD BE a global breadbasket – to have come to this…?
    Keep looking Boss…

    There HAS to be a few …

    Like

  • Skinner

    True is every word!

    Like

  • @ Enuff
    Bushie does NOT really expect you to follow the bushman’s logic.
    You clearly have a problem with your ‘mirror image’ and you are therefore fully convinced of, and resigned to, your lowly place in this shiite world.

    But NOT STINKING Bushie.
    Do you understand the concept of ‘outliers’?

    When someone has been ‘ADOPTED’, and allowed to see the REALITY of our potential, it becomes PAINFUL to accept the mediocrity and mendicancy that potential GIANTS have allowed themselves to accept.
    Admittedly it is not easy to get the blind to ‘see’ – no matter how brightly you try to spot a light.

    So you keep well and enjoy your lot in life.
    The good news is that you won’t have long to remain in limbo….

    Like

  • @Pacha
    Thanks.
    Your response was even better than what I posted.
    It also made me realize that I made ac “one of the boys”

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “Brazil SHOULD BE a global breadbasket – to have come to this…?”

    without their Amazon, the earth would just SHRIVEL UP AND DIE…

    POLITICIANS AND THEIR STUPIDITY AGAIN.

    Like

  • Some real jokers in here

    Whe the statics compared arrival this year compared 2021 and show an increase there were rejected

    When the statics show an drop from 2019 ( where no one expect us to be as yet ) there are embraced

    One set of statics false the other true and both coming from or help.compiled by the same sources

    Like

  • John A

    I would like to tell the same fowl this now, based on the bookings so far summer looking bleak, so he can expect 2022 arrivals to be down on 2021. So ask you people this for me please. “How come in 2022 when covid restrictions globally have been nearly done away with, we cant get 2021 numbers beat?”

    Xxxxxxxxxxxxxxx

    Are u referring to summer figures only ?
    If so , isn’t it better to wait until the figures are out?

    If you referring to total then for the q1 of 2022 showed an increase over 2021

    Like

  • @ David

    Yes Sealy should be ashamed and that is exaclty what I mean. When people present their numbers we are welcome to question them and i am glad people do, but stick to data and not politics. Plus dont pull out splatters of data and ignore TOTAL data. My point is be it D or B explain the data, disect the data and question the data, but stop playings politics with it. People need to understand the numbers and what they mean so dont muddy the waters with politics. And yes both parties are guilty of doing this over the years.

    Like

  • @John 2

    If you look at the World Economic Forum report on tourism that just came out on June 30th 2022, from which I would now qoute the summary statement they made on first quarter 2022 tourism. This being the period we call our winter season.

    ” The UNWTO’s World Tourism Barometer shows an increase of 182% for international tourism in the three months of 2022 compared to the previous year of 2021.”

    So basicall to match what is going on in terms of tourism globally our winter season in 2022 would have to of been better than 2021 by 182%, or nearly twice that of 2021.

    So what was the increase in our tourism arrivals for the first 3 months of 2022 compared to 2021? Were we near 182% as well?

    Thats what I mean when I speak of true comparison. So we take identical periods and we compare what we did with the average achived globlly where highs and lows are all in the mix together.

    Like

  • John A

    Man you went all around the world and still did not answer the question

    Like

  • By the way. Barbados increase q1. For 2022 2021 was over 100 % if I remembered correctly

    150 000 +. /. < 10 000

    U had an out – that u meant 2019 u should have taken it

    Like

  • You are forgetting that we did not have any winter tourist season in 2021. It was probably the worst quarter for the covid period

    Don’t u remember unselfish saying it was going to be the worst economic quarter because we had tourist arriving in Q1 2020 then the world shut down ?

    Like

  • My number we a bit off

    Here are the correct tourist arrivals numbers

    https://tourismanalytics.com/barbados.html

    Like

  • john 2 do not bother with John a he pretends he is not political like Skinner but he never misses an opportunity to criticize this government.Check the majority of his posts.Then he has the audacity to talk about fowls when he is one as well.When comparing you need to compare like with like normally this year with last year not 2019.I gone.

    Like

  • Lzo

    He deal with statistics let him deal with those numbers now

    Thing is I posted those number in response to the biggest joker on the blog and today the clown (who don’t cut ant paste) cut and pasted and article that say the same thing and say the truth now come out

    Accept the bad and throw way the good
    Then claim to be neutral

    Cherry pickers?

    Like

  • John A

    According to your comparison with the “world average “. Wold now the the with 1000+ % increase that at this point in time we are “ punching above our weight “ 😂

    Like

  • Would u now admit that with the 1000+

    Like

  • An increase in arrivals does not mean an increase in spend.

    Liked by 2 people

  • Go read the report and see the bigger picture. It gives arrivals, spend and fall due to covid and recovery. So some locations did not fall as badly as we did hence their recovery was not as high as others percentage wise. To brag about 1000% increase one would have to also see how far you fell after compared to before covid. You cant just pick out the number that suits you and ignore the rest. You would also need to look at spend for all the periods being looked at. In other words not only how many people come but what they left. The report speaks to toursim as a total sector. Arrivals are only one number in the formula. You cant therefore just focus on head count without filling in all the other numbers.

    Well you and Lorenzo can of course so I leave wunna to carry on smartly.

    Liked by 1 person

  • John A

    Yadda yadda. It you who made the statement of comparing 2022 to 2021 .
    Now u going all around the world with a load of BS..

    Like

  • John A

    Yadda yadda. It you who made the statement of comparing 2022 to 2021 .
    Now u going all around the world with a load of BS..

    You start with one thing . That’s wrong you run to the world average – that’s wrong u running to spend etc etc
    Nothing wrong with admitting u wrong
    I left the 2019 excuse for u to take but you prefer to runnn around the world

    Next time come with accurate info from the beginning then fill in the rest of the bigger pic

    If you start wrong ………..

    Liked by 1 person

  • Yawnnn. Stupes

    Like

  • NorthernObserver

    @Donna
    “I too was astounded by the temerity of this WHITE guy saying out loud that our regional government, using the PEOPLE’S MONEY, should invest to get it up and running AND GET OUT WHEN IT BECOMES PROFITABLE.”
    Have you ever heard of govt, esp GoB, running anything at a Profit? Only when they have a monopoly, and even then it can be an “expense centre” and not a profit centre.
    A hopeless approach. You sure the white fella wasn’t sticking it to somebody? Sounds like something John would do.

    Like

  • real real Bajans

    Like

  • PMMIA at her glorious best

    Like

  • NO,

    I’m thinking that these private investors are the ones who will be MANAGING THE BUSINESS while looking for regional governments simply to INVEST at start up stage.

    Then, when profits start to roll in, they want governments to sell them their shares.

    THIS WOULD BE FINE IF THERE WERE BLACK INVESTORS INVOLVED. But with our history and present wealth/race divide, a white man saying something like this is bloody bold-faced and OUTRAGEOUS.

    Like

  • I am scratching my head as to why so many here are annoyed with the “temerity” of this “white guy”. He is is fully cognisant of how our governments since independence have generously assisted minority companies to get ahead and thrive. He has witnessed how public monies have been diverted to these businesses and how Barbados governments have consistently given public projects to white-owned companies. All of this has been done without a murmur from our fourth estate.

    I admire his bold-faced approach to Mia’s government: keep funding us with public monies until we make profits and then piss off. This is what he is saying. We all know that Mia does not understand detail too well. Least we forget, as well as being the prime Minister, she also holds the position as Minister of Finance. I would say that this mzungu stands a good chance of receiving all the cash he desires especially with Mia’s shadow – the Indian, Persaud – hovering around in the background.

    It is only a matter of time before these minority boys push out the ignorant black skinned politicians and proceed to manage the country. The great John Okello would have known how to have dealt with these blood sucking parasites.

    Like

  • @ Waru,

    Hers’s one for your collection.

    Like

  • William Skinner

    @ TLSN; @ Donna
    The reason they can be so bold faced is that we have refused to go after our own private sector moguls, who fleece us the taxpayers , with the assistance of our own black governments.
    There are apparently billions of dollars sitting in the banks and our private sector is still being allowed to get away with not paying taxes.
    Our own dog is biting us. Who will be surprised if outsiders exploit us the same way we are exploited daily by our own.
    Thousands of acres of land allowed to remain idle while we have to push agriculture via Guyana.
    The BS apparently has no ending. Don’t be surprised if the so-called investors get everything they want and more.

    Liked by 1 person

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Thanks..TLSN.

    “It is only a matter of time before these minority boys push out the ignorant black skinned politicians and proceed to manage the country. The great John Okello would have known how to have dealt with these blood sucking parasites.”

    i see one telling them they have the money to invest in their ferry dream, new face, can’t say i know that one, new frontman, or now visible frontman…..but regulations will have to be upgraded to more positive business models he said…..and the government can’t act like they are doing them any favors either when they do it…

    …happy to see their fellow parasites mean business with them….they will get the boot up their Judas asses yet..

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “The reason they can be so bold faced is that we have refused to go after our own private sector moguls, who fleece us the taxpayers , with the assistance of our own black governments.”

    collaborators and conspirators, both OWE the Afrikan population reparations for ALL THOSE THEFTS, over 100 YEARS worth…

    but instead of paying they are ALL LOOKING at Europe and UK their fellow collaborators and co-conspirators in the systemic socio-economic take down of Afrikans….and got the GALL to attempt to EXTORT BILLIONS FROM THEM for themselves ONLY..

    …an OVERABUNDANCE OF NERVE they all got…..and who actually believe they will GET AWAY WITH THIS….no wonder they can OPEN their mouth for the government who can’t do shit…

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Pacha…these are popping up all over the place, but once backed by gold, stands a chance….someone just brought this one to my attention….have you heard anythign about it yet? Know you are well familiar with these areas.

    July. 2, 2022 / PRZen / BANGUI, Central African Republic — Following the government’s landmark cryptocurrency legislation and initiative, Central African Development Company has launched the African Resources Coin (AFRE). The initial coin offering went online (ico.centralafrican.co) Friday morning in the Central African Republic.”

    Like

  • BT
    “He also suggested that while the service would be private sector operated, governments could be an initial investor to get it started and then back out once it starts to become profitable.”

    This is a way of removing all the risk of being a businessman. Are there other ventures where the government removes the risks, subsidizes or reimburses businessmen when sales are not as projected?

    Besides the ferry, are there upcoming ventures where a businessman can expect government to take/minimize the initial risk.

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    This is the whole link…apparently it launched last Friday….2 days…the Afrikan continent is the only area with vast resources to make it successful.

    https://www.digitaljournal.com/pr/new-african-cryptocurrency-fulfills-gaddafis-vision

    “Trillions of dollars in natural resources such as gold are digitized as the Central African Republic government begins a “Crypto-Initiative”
    Jul. 2, 2022 / PRZen / BANGUI, Central African Republic — Following the government’s landmark cryptocurrency legislation and initiative, Central African Development Company has launched the African Resources Coin (AFRE). The initial coin offering went online (ico.centralafrican.co) Friday morning in the Central African Republic.”

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved
  • Would urge caution on cryptocurrencies.
    Not knowledgeable on these matters but observation and tingling spider senses puts me on alert.

    Like

  • Why are we surprised that the man is being so honest.
    This is the HISTORY of how the Barbados government (and the white private sector) does business.
    Practically every foreign owned business in Barbados started as a local entity, BUILT BY TAXPAYERS, and was then turned over to foreigners for a song and a wink.
    The open secret among the albino vultures is how to ‘wink’

    This poor chap probably assumes that all brass bowls know this already….
    LOL … he probably don’t understand how much brass bowls hate themselves.

    Liked by 1 person

  • Pach…your lap puppy axed you a question, answer it hunny

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “Would urge caution on cryptocurrencies.
    Not knowledgeable on these matters but observation and tingling spider senses puts me on alert.”

    definitely, if it’s not backed by the tangible and cannot be switched at a moment’s request to hard currencies….scam..

    “Why are we surprised that the man is being so honest.
    This is the HISTORY of how the Barbados government (and the white private sector) does business.”

    he has no fear of being HUNG for PIRACY or THEFT…like in the 1920-30s when they started tiefing from EVERYONE…their trademark 100-year-old history and their judases have more to lose than them…so he can be brutally honest…wuh dey cahn touch dem..they know too much…

    I asked Pacha the question but it seems you are the one who is most desperate to hear the answer ….he can email me the answer and you won’t see or know shit…unless ya do ya own research..

    Like

  • Dear Waru

    Not about that one specifically but am in on several others. The dominate currencies of the immediate future will be backed by provable minerals for which they could be exchanged. Those currencies will also include electronic or crypto versions.

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Yes Pacha…there are quite a few around…and backed by raw minerals….once ya can switch to other currencies…it’s safer than what now obtains, backed by BS, thin air and CRASHING everywhere……

    Like

  • Perhaps, research is being done, but I have not reached the point where I consider myself an expert/authority.

    Still in the learning stage. Let’s keep it at this level.

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Hopefully…these ferry investors have background checks done on them to find out WHERE THEY GOT THEIR MILLIONS…..hopefully not from VAT, the treasury or pension fund…

    when ya see new faces…..new people fronting WITH the people’s decades of stolen assets has to be taken into consideration…

    Like

  • Waru

    The voice of Creator!

    Liked by 1 person

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Thanks Pacha…thoroughly enjoyable..

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Like if we did not know that all they do is tell LIES…

    “Well as we been telling ya

    What an admission of truth.

    John Swinton, former Chief of Staff of the most powerful and prestigious newspaper on earth, The New York Times, when asked to give a toast to the “free press” at the New York Press Club stated:

    “There is no such thing, at this date of the world’s history, in America, as an independent press. You know it and I know it. There is not one of you who dares to write your honest opinions, and if you did, you know beforehand that it would never appear in print. I am paid weekly for keeping my honest opinion out of the paper I am connected with.
    Others of you are paid similar salaries for similar things, and any of you who would be so foolish as to write honest opinions would be out on the streets looking for another job. If I allowed my honest opinions to appear in one issue of my paper, before twenty-four hours my occupation would be gone.

    The business of the journalists is to destroy the truth; to lie outright; to pervert; to vilify; to fawn at the feet of mammon, and to sell his country and his race for his daily bread. You know it and I know it and what folly is this toasting an independent press? We are the tools and vassals of rich men behind the scenes. We are the jumping jacks, they pull the strings and we dance. Our talents, our possibilities and our lives are all the property of other men.

    “We are intellectual prostitutes.”

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Theo..yes, one must always be on the lookout for the crypto scum artist, this one’s face is plastered everywhere…..when you know people are SCAMMERS BY NATURE you do NOT invest anything in or with them..

    “$4bn “Cryptoqueen” Fraudster on FBI Most Wanted List

    Ruja Ignatova has been placed on the FBI’s 10 Most Wanted list after allegedly defrauding investors out of $4bn in a fake cryptocurrency scam called OneCoin.

    The Bulgarian-German hasn’t been seen since fleeing in 2017 after discovering her American boyfriend was cooperating with authorities.

    The FBI is offering a $100,000 reward for information that leads to her capture.

    Outsourcing dirty work to citizens for cash sounds like a reliable policy.”

    Like

  • @Pacha

    You have gotten rid of your fiat denominated wealth?

    Like

  • First bit of transparency was one big lie, or was it?

    Do the Chinese get the seaport and airport if we default?

    Is the female minister a liar?

    Was the former Minister of Tourism document manufactured or is it the truth. Nothing fAlls off a truck.

    Thought this story had staying power, but it disappeared into the ether.

    Like

  • Call to dump first past the post
    Limiting PM’s terms in office also among Laurie’s suggestions for reform
    By Peter Laurie Congrats on the launch of the Constitution Reform Commission with its distinguished membership.
    I wish them every success in fulfilling their historic responsibility.
    I’ll make a detailed written submission in due course.
    In the meantime, here’s a summary of my major suggestions for constitutional reform.
    • 1. Expand the grounds on which it’s unlawful to discriminate against a person to include sexual orientation and ability/disability.
    Democracy is not only about letting the majority prevail but also about protecting the rights of minorities.
    • 2. In addition to justiciable provisions that are legally binding and enforceable in a court, I’d also like to see what is referred to as “directive” clauses that are intended to encapsulate the values and beliefs of the citizens. These are binding on the state only in a political and moral sense, and they don’t belong just in the preamble.
    The Barbados Charter 2021 contains valuable suggestions.
    • 3. Expand the fundamental political and civil rights to include socioeconomic rights, whether justiciable or directive, such as a right of access to clean water, nutritious food, affordable housing and health care.
    • 4. Maintain our head of state as a non-executive/ ceremonial post elected by Parliament.
    • 5. Change from a bicameral to a unicameral legislature. The Senate is a neo-colonial anachronism.
    Instead, allocate in a 45-seat Parliament 12 rotating seats to represent agreed community interests with the right to speak but not to vote. At present, there are 113 unicameral and 79 bicameral parliaments worldwide.
    • 6. Entrench the Social Partnership (enlarged) in the Constitution.
    • 7. Change our electoral system from first past the post. The shortcoming of first past the post is that the number of seats won by a party usually does not coincide with the percentage of the popular vote. For example, in the 1999 election, the DLP won 35 per cent of the popular vote but only seven per cent of the seats. The usual alternative to first past the post is proportional representation. Under proportional representation, a party’s share of the popular vote coincides exactly with its share of the seats.
    The major drawback of proportional representation, however, is that it often leads to minuscule parties with little or no grassroots support winning seats in parliament, resulting in unstable coalition governments and legislative gridlock. For example, the Israeli parliament (13 parties) is holding its fifth election in four years. Another drawback is you don’t have constituency representatives, essential in a small country like Barbados.
    Better alternative
    I suggest a better alternative is the system adopted by New Zealand in 1996, when it changed from first past the post. It’s known as the mixed member proportional system, combining elements of both first past the post and proportional representation.
    Under the mixed member proportional system, each voter casts two ballots: one for their constituency representative (first past the post) and one for their party of choice (proportional representation).
    This system ensures that people have constituency representatives who can address their local concerns, while, at the same time, parties are allocated seats that represent closely their share of the popular vote.
    • 8. The Westminster system we inherited from Britain puts too much political power in the office of the prime minister. One measure to remedy that is to remove from the holder of the office the authority to call an election when the PM wishes. Instead, general elections in Barbados should have fixed five-year limits. A prime minister might also be limited to two consecutive terms in office.
    • 9. One of the most effective ways of limiting the power of the executive is to strengthen the powers of the legislature. We might limit the size of the Cabinet to one-third of the elected Members of Parliament, while allowing the Prime Minister to appoint at least one half of the Cabinet from outside the legislature with the proviso that those so chosen must be approved by a majority of the Parliament.
    We should also have a proper parliamentary committee system (including non-elected MPs, that is, community interests) that would oversee various aspects of the operation of the executive including the Public Service, especially on matters related to transparency and accountability in expenditure. A unicameral parliament should meet twice a week with one session devoted entirely to committee business.
    • 10. Another measure to strengthen democracy is to provide for ongoing citizen participation in Government. It’s simply not enough to cast a ballot every five years. There are several mechanisms to achieve this. Modern technology also greatly facilitates online public participation of all kinds. All that is required is our imagination.
    • 11. Finally, holding public officials to account lies at the heart of democracy. Democratic accountability offers citizens several mechanisms to voice concerns and demand explanations about, and, if need be, impose consequences for, the performance of elected and unelected officials.
    Having said all that, without transforming the Public Service, we’ll be spinning constitutional top in bureaucratic mud.

    Peter Laurie is a former head of the Barbados Foreign Service and author of several books.

    Source: Nation

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    The majority need to REMOVE THEMSELVES FROM THE COLONIAL SYSTEM….let it COLLAPSE on itself…..all the parasites will have to look for NEW HOLES to live in…that;s the whole point..

    Like

  • Order of Caricom!

    For Billie Miller, Vic Richards and David Rudder.

    Honestly, this writer has always had more than a modicum of ‘respect’ for Richards and Rudder. Even Billie matured to become unlike the younger version of herself. However, as compared with each of the two others, the equation seems lopsided.

    The Bajan respectability ethos has been finally exported. We see the fingerprints of Mottley all over this. Let us see if the trade imbalance will now balance😍

    What else are we producing but form without substance?

    Is there anywhere else on Earth or Mars with such a fixation on honoraria?

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    People in Barbados and the Caribbean can continue sitting and waiting on powerless politicians…who have NO CONTROL OVER ANY OF THIS…

    “Americans lost $1.4 trillion in their 401(k) accounts and another $2 trillion in IRAs.

    As stocks somersault this year, trillions of dollars have been scrubbed from Americans’ retirement savings.

    This year, the S&P 500 has slumped over 20%, the Dow Jones Industrial Average has fallen close to 16%, and the Nasdaq Composite has dropped more than 28%. As a result, Americans lost $1.4 trillion in their 401(k) accounts and another $2 trillion in IRAs, according to Alicia Munnell, director of the Center for Retirement Research at Boston College.”

    Pacha….it’s going into the negative..info is trickling out..

    Apparently something is going on in Europe…and some people say a collapse is imminent.

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    Just the fact that the continent has started up their resource backed currencies should give Afrikan people pause and tell them they need to FIX THEIR BUSINESS…and start preparing to HELP THEMSELVES..

    politicians have NO CLUE….and will LIE TO YOU…

    Liked by 1 person

  • David

    Is this what your “democracy” has descended to?

    Is it not time to clean the slate and b unlearn everything Westminster has taught us?

    Could there be clearer proof that dystopia awaits us?

    Like

  • Unable to watch the video.

    Like

  • NorthernObserver

    David
    If you click the little arrow in lower right corner when YouTube fails to load, it opens you tube in a new tab and you can see the video clip

    Liked by 1 person

  • Sri Lanka energy minister warns petrol stocks about to run dry

    https://www.bbc.co.uk/news/business-62032542

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    “Is there anywhere else on Earth or Mars with such a fixation on honoraria?”

    should be more fixated with competency in management of the country and intelligence…since they have no creative skills…

    the first two have natural skills….don’t know what they are honoring the third for….. not worth the 8 letters in the word…

    Liked by 1 person

  • TINGS BROWN

    ” In the face of the Russian war, climate change and the global pandemic, Barbadians are being urged to economize more.

    That plea has come from Senior Minister and Minister of Energy and Business, Kerrie Symmonds, who spoke at the Calvary Temple Community Church on Sunday.

    The special service was in tandem with the Occupational Outreach for all Six Roads Small Business Entrepreneurs, at its Groves, Six Roads, St. Philip location.

    Minister Symmonds warned that life as many knew it is no more and that not only households must be conservative with their finances, but businesses as well.

    “It cannot be business as usual … because the world is in a state of crisis and quite frankly the world is bordering on war,” he said.”

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    they always find a way to make sure they are the ones benefiting and the customers get SUCKED DRY….vampires…

    “Readers who saw our recent article Read Letter Detailing Misconduct at Barbados Light and Power, learnt that the shareholders of BLP reportedly received distributions of dividends of $25m, alleged to be a sum higher than the net profits of the utility, which exists solely to serve the Bajan public. Whilst dividends, based upon profits, are expected, this extraordinary, and even obscene amount, was paid notwithstanding that BLP has reneged on its repeated promises to purchase new generation equipment with its revenue, which runs into the millions of dollars.”

    Like

  • African Online Publishing Copyright ⓒ 2022. All Rights Reserved

    from the perspective of a young person…let’s hope he becomes the exception….Caribbean leaders like to talk too much and ACT VERY LITTLE…

    “PARAMARIBO, Suriname – The newly elected Prime Minister of Grenada, Dickon Mitchell, on Sunday warned the Caribbean Community (CARICOM) against being viewed as a “talk” shop and urged Caribbean leaders to do more to foster greater regional unity and socio-economic development.

    Mitchell, who came to office after leading his National Democratic Congress (NDC) to victory in the June 23 general election, told the opening ceremony of the 43rd CARICOM Summit that for too long “this Caribbean Community that we all love has been seen and viewed as a place where we talk, and talk, and talk and then we talk some more, and to what end Mr Chairman?

    “No Sir, this is a time colleagues, my friends and to all the young people across the Caribbean Community – this is indeed our moment, this is your moment, where it is a Time for Action and a Time of Choosing.”

    Like

  • Are they still share holders of bl&p?
    Didn’t emera buy out all the local shares?

    Like

  • The following graph shared by John A re: tourism stats.

    Like

  • Whistles.

    Like

  • David thank you for posting ALL the numbers and not just some.

    Jan to March period:

    Year 2022 open 114457
    Year 2021 covid. 9061
    Year 2020. Open. 153848
    Year 2019 open. 208774

    So folks them is the numbers. Now some bragging hard bout how much arrivals was up in 2022 winter over 2021 but cuhdear the place did shut in 2021. LOL. So why they didnt compare it with 2020 when de place was open then? After all covid shut we down hard in april 2020 remember? Had me shopping by name and thing!

    So where we is today then? Well we arrivals a little over half those of 2019, they lower than 2020 too for the record, but we spending like if it was 2019. Dont worry though the IMF money cheap and we got them number on speed dial.

    That is why i say you can use some numbers to play politics wid, but when you put ALL the numbers together you still always get the truth!

    Like

  • LMAO! Sir, covid got into full swing after March 2020. Your own stats demonstrates that–look at the dramatic fall off from April 2020. That’s exactly why you conveniently chose Jan-March to do a comparison, knowing very well that including April and May would make 2022 stronger than 2020, hence nullifying your argument. To fairly and sensibly analyse these numbers, the factor of time in relation to the severity of covid can’t be ignored. This is why Jan-March 2020 is stronger than Jan-March 2022, with the reverse for April-May ie 2022 being stronger. The spinnnnn eh, like a washing machine.🤣🤣

    Like

  • enuf you showing yourself for what you are.

    First of all the primary rule for comparing data is to use identical periods where circumstances are the same. You should not therefore include data that skews the outcome. Although politiicans and their followers love to do this it is not a basis for comparison.

    So let me put it real simple for you and all like you. It would be like comparing the sales for a store in september of one year, with sales of december for the other year. Or sales for a Saturday when the store is open to a Sunday when it is closed. You wid me so far? Hope this help you.

    The numbers are factual the periods compared identical, hence the data is not skewed manipulated. If you dont like the numbers you and the others go cluck over them. They are real and taking from the same publication your buddy chose to use. Just a page further down that speaks to the total numbers.

    What happen the truth burst your bubble? The fact that the 2022 jan -march you brag bout was lower than 2020 upset you Lol. Also dont forget 2022 period had reduced protocols in the source markets so that should of work in you favour.

    Anyhow wunna try to play with them but they accurate and compare data that is relative. i have nothing further to say on the subject i will leave the free thinkers to form their own opinions and the fowls to cluck over the outcome. Lol

    Like

  • Wait i got a closing question for wunna.

    With tourism arrivals still just over 50% of 2019’s and we spending more than in 2019 where the money coming from to pay de imports and bills?

    That is my final question all at wunna now LOL

    Like

  • Gave enuff a point a few days ago. Going to give the win to John A. The inclusion of 20 and 21… game, set match

    Like

  • John A
    You convieniently forgot that is you the started the comparison between 2022 and 2021

    Xxxxxxxxxxxxxxxxxxxcxxxxxxx

    I would like to tell the same fowl this now, based on the bookings so far summer looking bleak, ***so he can expect 2022 arrivals to be down on 2021. *** So ask you people this for me please. “How come in 2022 when covid restrictions globally have been nearly done away with, we cant get 2021 numbers beat?”

    Xxxxxxxxxxxxxxxxxx

    I have no problem accepting the figures for 2020. .

    Continue ur spin or is it slugging and missing the ball.? Ur forth attempt

    Like

  • John2 July 2, 2022 12:55 PM

    John A

    I would like to tell the same fowl this now, based on the bookings so far summer looking bleak, so he can expect 2022 arrivals to be down on 2021. So ask you people this for me please. “How come in 2022 when covid restrictions globally have been nearly done away with, we cant get 2021 numbers beat?”

    Xxxxxxxxxxxxxxx

    Are u referring to summer figures only ?
    If so , isn’t it better to wait until the figures are out?

    If you referring to total then for the q1 of 2022 showed an increase over 2021

    Xxxxxxxxxxxxxxxxxxx

    Better yet – my initial response to you

    Like

  • Too bad you had to go all around the world hunting and then come back home when from the start u could have said you meant 2020 / 2019

    Like

  • TheO

    Enuff is absolutely right

    2020 Jan Feb and mar. We had a normal winter season. Covid was now taking over the world

    The figure show that we are down 22 over 2020 in those three months. But as the same John A does preach – u have to factor in the conditions

    He is lost

    Like

  • NorthernObserver

    I am surprised in this entire thread, no discussion of the perilous cash flow situation in 2018 (recall they did the highly unusual and grabbed TBill holders), and what these new short term Bond holders, plus all the low interest JBond holders mean for repayment.
    These are not all Debt holders one may reasonably expect to ‘roll over’ at maturity. So while the servicing costs are low, ‘soon from now’, the GoB will need real cash to fulfill those principal obligations.
    The bulk of the newer debt, is low interest (cost) money from the Bi/Multi lateral agencies. Rolling them over is more likely, except rates ‘could be’ higher.
    The island is now fully addicted to debt.
    Lol…@JohnA you think revenue will guide the elected? Did you see Sinck cut back…and now you expekking Ms ‘all hands pun deck’, to know when there is a leak below?

    Like

  • @Northern

    Yes you are right the faithfuls will tap dance around our reality and try to deflect but they will all have to face the reality none the less.

    My question to them all remains this “with your arrival only at roughly half of 2019 and your expenses higher than 2019, how do you plan to finance the difference?” Where with our recently outlined debt burden will you find the cash and cashflow to plug a hole this big?

    The loyalist of course have no answer just efforts of deflection.

    Like

  • I really have no interest in the BS of political slide of hand, what i want to know is simply where will the money come from thats all? With a company were it a short term issue, you could extend your overdraft but not for a prolonged period. 2019 was 3 years ago and our reality is we are still struggling to get past 50% of our 2019 arrivals. Surely even a 11 plus child would understand the problem we face.

    But dont worry Cropover soon here and we could wuk up all we want this year.

    Like

  • JohnA
    I really don’t intend to waste my time. You said “First of all the primary rule for comparing data is to use identical periods where circumstances are the same.” Given the timeline of the covid pandemic, the circumstances between Jan-Mar 2020 and Jan-Mar 2022 are disimilar. Similarly, April-May 2022 and the same period in 2020 aren’t identical regarding curcunstances. But tell me why you used Jan-March, even though data is available up to May? What led you to determine that the circumstances were not identical? Or you just wanted to skew the numbers?
    The undeniable fact is that numbers Jan-May 2022 are above both 2020 and 2021 (no bragging), as Covid is the key contributing factor in both instances. Context sir context!

    Like

  • Yawnnn

    Like

  • Mr gloom and doom

    Where are ur figures tat we are spending more than 2019?

    Didn’t Mia present a budget in March ?

    Isn’t it better to want and see how things are trending ( according to the numbers ) ?

    The only person in here that is deflecting is you. Grabbing at straws

    Like

  • Forgot

    With over a billion of FX. = how many months of imports?

    Like

  • Lol all borrowed money that must be paid back in fx which we bleeding monthy in reduced tourist arrivals.

    Yes man we sitting good!

    Like

  • Continue with what u want to say.

    You transparent

    Like

  • As a numbers man can you tell us how much fixes leaking per month?

    I would be interested to know how big of. Hole we have to plug

    Like

  • John 2 my points and concerns are these and whether you B or D they should be yours too.

    A. It is a fact that our tourist arrivals are way off 2019 still. That is evident from the imformation you so kindly provided. FACT 1.

    B. We have not been able to trim our expenses since 2019 in any real way, or to try and reduce them and our demand for fx. Check budget figures for last 3 years. FACT 2.

    C. We have borrowed heavily As has been confirmed and highlighted in the press recently. I believe some said it was a total of $800M or their abouts, but I dont have the exact number. FACT3

    D. Every single cent we borrowed from the IMF and others has to be repaid in fx. FACT4

    E. They are only 2 ways to get fx to repay debt owed by these loans, we either have to genuinely earn it or borrow more FX to pay debt due, hence creating a debt pyramid. FACT 5

    So we can pick nit over April 20this and march 20 that, but there is a way bigger issue brewing here and that is this. How we going service all these loans with fx when we fx receipts from tourism way down because we arrivals still way off 2019 levels 3 years later yet we spending like nothing change?

    That my friend is the lion we must wrestle with.

    Like

  • NorthernObserver

    @JohnA
    Don’t ask where the revenue is coming from. It doesn’t matter.
    The key is maintenance. Spending doesn’t matter either, once you can find a willing lender.
    Tourism will not bounce back soon to lofty levels. Maybe it can make steady gains, but COVID isn’t over, and the airlift is currently in a mess. The cruise lines are giving incentives like never before, and still can’t fill them.

    Like

  • @ Northern

    Yes i have seen some of the cruise ship ads and still they cant get the loads up on the ships. Airlines say it may be 2 years before they can get the crew for the flight demand up to scratch. We do have major challenges in the short to medium term with our tourism.

    Question is how many years will it be before we get back to the 2019 levels of revenue on which our expenses as a country seem to be based ?

    Like

  • Mr gloom and doom

    Let this yard fowl go back to those statistics that u alleged i spinning for political reason.

    So from Jan – March 2020 is more the the same period in 2022

    Ur figures – 22 = 11457
    20 – 153848

    Yet u disregarding the facts the for the year so far from Jan – may the 2022 (181 284) surpassed 2020 (154 330) .

    Talk about someone spinning for political reasons ?

    Like

  • No back to ur question

    Is the fx debt all gotta be repaid on the same day or is it spread out?

    When the economy grows what does happen to government revenue?

    Wait did I read some place that real estate market is picking up?

    Did I read the cement maker can’t keep up with the order for blocks?

    Isn’t it wise to wait for the numbers to see how we are threading ?

    Like

  • Mr doom and gloom

    Let me help yuh out !

    U spinning the tourism numbers to say that we ain’t doing well so that u can den switch to ur diversifying / solar / agriculture so you can score BU point with ur independent thinkers friends

    I don’t know why yo didn’t jumó straight to it instead of screw up the tourism numbers/ yrs

    We all know and expected the tourism numbers to not get back to 2019 level this year

    Like

  • NorthernObserver

    @John2
    Can I put you down for $500,000 in series J Bonds? I have a few people who will accept 75c on the dollah, you stand to make a healthy return.

    Like

  • NO

    I don’t deal with bonds. I invest in stocks that pay 3+ % dividends and cover them with options . Options are my main trading tool

    Try to get sleep but the fireworks…..

    Like

  • Barbados signs agreements with Guyana and Suriname

    Like

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