Dear Mr Straughn ,
This letter is an issuance of grave concern with the government of Barbados & the IDB Loan seeking to borrow $200 M and the heightened perception of corruption and unethical practices within government.
Taken from the executive summary of transparency international “This year’s corruption perception index paints a grim picture of the state of corruption worldwide. The pandemic is not just a health crises or economic crises but a corruption crises with countless lives loss due to government corruption undermining a fair and equitable response to issues of the day”
A letter to the editor of the Nation newspaper featured on December 7th 2022, submitted by myself Kemar Stuart raised alarm to some sections of a letter to the acting IDB President signed by yourself as minister in the ministry of finance.
Component 4 of the letter to the acting IDB President said that the loan is for economic and fiscal strengthening for post pandemic .The blatant red flag in component 4 of your letter is the use of reason for borrowing this loan which are recommendations from a progress report of the measures prioritized by the jobs and investment council. Investigations into the missing report revealed that at no point in time did this jobs and investment council report or publish their findings and recommendations to the public via consultation / town hall or press conference, written media or else.
The Job and Investment Council met in April 2020 and according to Prime Minister Mia Amor Mottley, the members were expected to report back to the Government within two to four weeks. Some developments changed the operations of these committees or working groups. Since being established 2 years ago , former PM Owen Arthur has died and Former Finance Minister Chris Sinckler has been working abroad
Please don’t allow the announcement of VAT free day distract as these circumstances create a non-transparent environment , therefore allegations of unethical practices and heightened perceptions of corruption in government herein that the minister may have falsified a letter to the IDB in claiming the use of recommendations from the jobs and investment committee as a reason for borrowing a loan, the non-functionality of this committee is hereby in question and raises a challenge with queries on if the committee did in fact made the recommendations to borrow 200M from IDB as contained in the letter.
In a bid for transparency Minister Straughn you were asked to publish this progress report mentioned in your letter as the reason for committing Barbados to an additional 200 Million in debt, the publication should include all members and their compensation. The absent report would clear up any allegations of wrongdoing against the minister’s name
Minister Straughn addressed the public twice since the alarms had been raised surrounding the scenario at hand, both in parliament and press conference; however no public response was issued by Straughn nor the publication of the report was made public.
Analysis from transparency international shows corruption not only undermines a global response to the pandemic but contributes to a continuing crisis of democracy. Over to you Mr Darwin Dottin the newly appointed head of Barbados’ anti corruption unit.
With Regards
Kemar J.D Stuart
VAT FREE DAY will distract because consumption behaviour drives our first thoughts.
Check your facts and revert back
I cannot see Corruption in current leadership
just hearsay and tittle tattle and tentative links
Thank God they are not the worst like Trump
going back to the selfish herd theory abstract..
Escape-route strategies
The selfish herd theory may also be applied to the group escape of prey in which the safest position, relative to predation risk, is not the central position, but rather the front of the herd. The theory may be useful in explaining the escape strategy chosen by a herd leader. Members at the back of the herd have the greatest domain of danger and suffer the highest predation risk. These slow members must choose whether to stay in the herd, and thus be the most likely targets, or whether to desert the herd, and signal their vulnerability. The latter may entice the pursuit of the predator to this sole individual. In light of this, the decision of the escape route by the front members of the herd may be greatly affected by actions of the slowest members. If the leader chooses an escape strategy that promotes the dispersal of the slowest member of the herd, he may endanger himself—causing dissipation of his protective buffer. Five types of herd leadership have been proposed based on the decisions of the leader:
● Seemingly cooperative leadership: route chosen by the leader happens to be beneficial to the entire herd
● Openly selfish leadership: route chosen by the leader minimizes their predation risk, but does not minimize the total predation risk of the herd
● Seemingly altruistic leadership: route chosen by the leader may be favorable to the majority of the herd, but may be difficult for the fastest members
● Seemingly populist leadership: route chosen by the leader is easier for the slowest members to follow, but may be harder for other members
● Apparently spiteful leadership: route chosen by the leader is difficult for all to follow, but is nearly impossible for the slowest members to follow
Although some types of escape are seemingly altruistic, they promote the stability of the herd, and thus decrease the predation risk of the leader. This choice is often affected by the terrain of the area.
45 revolutions per minute is getting plenty corruption charge pressure in
US headlines
The loan is from the IDB. After the MoE testing fiasco, which was IDB led, the investigate report on this seems to have received an early burial, without a funeral.
Despite all the loans, several come with strings (rope?) on what they may be used for.
The GoB, is back to experiencing a cash flow crunch. (Not sure it was ever out of this)
The former admin of GoB opted to ‘grab cash’ by not paying it’s bills, and those of SoE’s, by redirecting NIS contributions from its own employees, not issuing BRA refunds, nor honouring past commitments, like compulsory acquired land.
This administration made a sizeable dent, but we’re unable to fully complete this repayment exercise. Hence, the J Bond?
So we might expect this ‘general loan’ will help with cash flow? A ‘favour’ after the testing debacle?
Once one continues to spend more than one collects, the shortfall must be funded, or recipients will get IOUs versus cash.
Transparency and accountability continues to concern.
The good news is the NIS isn’t the debt mule. There are still plenty of local bond issues which may be comprised in a default, but the loan portfolio is decidedly more “bi lateral”.
The Minister responsible advised on a press report details of the matter will not be shared with the public.
Mum on probe – Mum on probe: https://barbadostoday.bb/2022/12/20/mum-on-probe/
We hear all the critiques, missing are real solutions- if there are any- to the economic mess we find ourselves.
“We hear all the critiques, missing are real solutions- if there are any- to the economic mess we find ourselves.”
Bajans like to think they are punching above their weight
but are more likely to be overweight and can’t even punch
they should invest more in their body mind and spiritual health
instead of worrying and panicking about their money or lack of thereof according to which side of wealth inequality fence they are on
the rich side or the poor side
Dance Movement Unit
Don’t Let Me Down_ __ Chainsmokers __ Daya __ REFIT® __ Fitness
Twenty-one precious artefacts that were looted by British soldiers from the former west African kingdom of Benin 125 years ago have been handed over by Germany to Nigeria amid laughter, tears, and some audible frustration with the ongoing silence of the country that first stole them.
Bushman – Robbery Aggravation
What is a “real solution”?
They are finding loans. This means they don’t have to drastically cut expenses. Money buys time? And hope springs eternal.
Elsewhere Prof Howard voiced his concern the IMF isn’t being fully transparent and consequently, maybe too optimistic.
Barbados under Mia has proved a formidable foe? She, whether guided by my ‘main man’😀 or not, has forced their hand. The IMF is a VERY political entity. Hence, they will be very hands off, at least publicly. Mia is dangerous, because her tact is to argue on behalf of many.
As long as the IMF can collect more than their costs, their benefactors (global governments) will be quiet. If that changes, defaults grow, then the rubber hits the road.
They are only 2 solutions really. One is to cut back on government spending and the other is to increase the efficiency of government’s collection agencies like BRA and Customs.
Running up more debt by borrowing is not a solution. It is simply an easy way to patch a wound that is politically friendly thats all. Until we tackle one of the only 2 above SOLUTIONS we will remain brek and unable to pay tax returns it seems as stated by minister Straughn.
I wonder if Mr Strughn stopped to think before making that statement that a large majority of those owed may also be severly cash strapped as well?
https://www.instagram.com/p/CmZ5Tz5tPjN/
The graphic tells a story.
@ David
When your interest and transfers and subsidies is greater than your goods and services and wages that should send you a warning.
Knew you would pick up on the subsidies and transfers John A. We always come back to the SOEs dont we.
@ David
That is why the IMF will insist the government must be shrunk and effeciency improved. Right now our interest cost AFTER the dept restructuring, is in the area of 20% of the cost of government. That is unsustainable and we all know it, yet no one will address it.
I guess its bad politics to do so.
@John A
Expect to see a more aggressive approach to rationalizing SOEs and pension reform in the early part of this government’s term.
@JohnA
The relevant statistic is debt related costs, service + repayment, as it relates to REVENUE.
The CBB loves ‘Primary Balance’, which is the surplus/deficit while ignoring debt related costs.
If your revenue is double your expenses, debt service can be 40% of your costs?
Also the debt default of ’18, delayed many debt service payments such that they didn’t start until Sept’22. The “hiatus”.
“The UN’s Conference on Trade and Development (Unctad) warned in a report published on October 3 that a significant number of both low- and middle-income countries have seen their debt servicing costs rise well above 20% of annual government revenues”
The CBB reported a Primary Balance surplus of $367M. That is what annual debt costs can total to achieve balance. The debt interest costs are $245M. What are the total DEBT costs?
Central Bank charts showing debt positions.
http://www.centralbank.org.bb/research-publications/statistics/charts
Source: Nation
Is the emphasis by media, politicians and business leaders worldwide on a supposedly rapidly mounting “climate crisis” forcing us to change ASAP from fossil fuels to renewable energy only a smokescreen for a cover up of a deeper, underlying, economic problem with no easy solutions?
https://ourfiniteworld.com/2022/12/16/the-economy-is-moving-from-a-tailwind-pushing-it-along-to-a-headwind-holding-it-back/
Financial articles make people go glassy eyed and lose interest like when people are speaking in a different language
50%
The problem with an interest expense at 20% of total operating expenses is that it is only interest. It does not include the payment of principal. Our problem is one of cash flow. In that our expenses leave us where we have no room to operate without heavy borrowing. As I said this is unsustainable unless we plan to pay off loan A by borrowing and using loan B to do so, hence having a ponzi scheme as opposed to an economy. Also remember with the debt restructuring a large portion of debt was pushed down the road and cashflow will be required to service that as well.
All this has resulted in the cash crunch the minister spoke of.
@John A
The better discussion we need to have nationally is the strategy for sustainable growth. NO doesn’t like that S word but it must be the focus of the country for BOTH PUBLIC and PRIVATE sectors.
David: it is not about like, for what is sustainable for you may not be for me.
What was manageable at a 3.5% interest rate, may not be at 8%. Just ask variable rate mortgage holders in NA.
This 60% Debt:GDP target number which gets bandied about, is a joke.
So the S word should be banned, it is all relative
Barbados had a poor credit rating and couldn’t borrow money
To improve credit rating you borrow more and maintain payment
building up credit rating gives you access to cheaper credit
@DAVID
Patiently waiting for the day when you wake up and discover BARBADOS is a “TURD” World Country run by a bunch of UN-intelligent African descendants with “HIGH” GIVE ME educations.
Country has Champagne tastes and Mauby pockets, except for numerous politicians on the TAKE.
@Wily
Have you thought to send evidence of politicians ‘on the take’ to the blogmaster?
When Grenville departs from his usual track he delivers some hard hitting commentary. His ending of ‘Reparations” in e BT’s epaper is a refreshing read.
Grenville 👍
Merry Christmas
In BT “Tow Tests against Zimbabwe In February”.
Perhaps they meant
Too
Two
Toe
Tough
or they meant to write “Another losing Series of Tests against Zimbabwe in February” and we got the typo “Tow”
Hey! Commenters on BU can make obvious typos, a newspaper should not.
I give up
4 articles on cricket on BT …
This is Christmas and BT is being cruel.
I read none of them.
I would like to believe it is 4 big typos…..
I was about to make a few points, but this cricket thing drove me off the road.
Talk about a downer..
And one guy talking about “Smart road save lives”… We already have smart roads… those potholes are there to tell the idiots to slow down. We need smart drivers. I smell a scam in the making.
Have a great day folks. I cannot tek no mo.
Grenville Phillips has more spin than a white boy
I refer you to Black Lives Matter – Part 2 June 16, 2020
“There is some serious gaslighting going on and rightwing blacks are the spokespeople for the racist whites.” — 555dubstreet
https://barbadosunderground.net/2020/06/16/black-lives-matter-part-2/
Theo…dont mind any of them with their fakeness and misleading lies, trouble enuff coming their way. IDB done tell them already.
“IDB warns Caribvean to prepare for higher prices, fuel prices in 2023”
They better listen to their IDB masters and try to figure out a way forward or not, cause not a fella int showing them or telling them nutten ever again. Evabody looking out for themselves and individual family units as they should at this unstable time. The days of sharing lifesaving and future changing information are over. Done..No more squandering other people’s intent.
Dem pon dem own.
Dem so screwed.
(Unreleased Dilby Dub)
@DAVID
“Have you thought to send evidence of politicians ‘on the take’ to the blogmaster”
EYES WIDE SHUT, cut the BS, your well aware just as well as JOE BLOW is. You talk a good line, however the BAJAN is fully ingrained, TALK IS CHEAP, ACTION REQUIRES AN INTELLIGENT INITIATIVE, A PLAN and completion with follow thorough.
The corruption runs rampant throughout all aspects of the government and SOE’s.
Latest is Government cannot pay Income Tax Refunds as they are short of funds which were spent on ASH CLEANUP, GIVE ME A BREAK from this BS.
Nation Editorial
WoW!
Source: Nation
If you know who is on the rob you should drop a dime
There is a Bajan perception of corruption which clouds the conversation about the nation. But, when asked to name and shame them they go quiet proving the talk and insinuation was empty.
“EYES WIDE SHUT, cut the BS, your well aware just as well as JOE BLOW is. You talk a good line, however the BAJAN is fully ingrained, TALK IS CHEAP, ACTION REQUIRES AN INTELLIGENT INITIATIVE, A PLAN and completion with follow thorough.”
The very reason no more information is forthcoming, talk is cheap, whisky is expensive.
Information goes where it does the most good, in very capable hands with super intelligent minds that can generate positive results/ real action, which are best achieved out of the limelight and glare of social media. Which i noticed my friends have completely taken over, rendering most sites, completely useless and inoperable for what is actually needed.
Steuspe
Ya should have been true to yaself and ancestry instead of bending yaself in half and working overtime to keep ya own people trapped in a racist slavery status quo that robs them of everything generationally.
Exactly how did you expect all of this would end. Afrikan minded people are not interested in slave hood, subservience and as generational victims to a criminal system.. We know who we are and where we came from.
Too bad for those who dont but am quite sure that Hiel HitSchwab and Lord god Rothschild will be more than happy to show them. Those types can be trusted to do exactly what they say.
I stopped believing any numbers that I see posted by GoRoB
“Symmonds also shared Government’s plans for development and expansion of the agricultural sector, outlining a project slated for a 2 000-square-metre area of Roraima, Guyana where “a variety of foods” will be grown and exported to Barbados “to begin the process of seriously diversifying the economic base of this country via diversification of the agricultural sector.”
2000 square meters =21527.82 square feet =0.0007722043 square miles.
(I checked and rechecked)
21527.82 square feet is like 100 houses each 2,000 square feet.
Let’s hope that is a typo and not some Guyanese ripping off the smartest men in the world.
https://www.metric-conversions.org/area/square-meters-to-square-feet.htm
🙂
Cannot even trust my own numbers
Correction
21527.82 square feet is like 10 houses each 2,000 square feet.
Let’s hope that is a typo and not some Guyanese ripping off the smartest men in the world.
https://www.metric-conversions.org/area/square-meters-to-square-feet.htm
Leaving now….
WI cricket
Hopefully, those who will say a prayer for the men’s team say a second prayer for the women’s team. It wouldn’t hurt to use the service of an obeah man as well. I know a good one and can sell you the chickens.
“Let’s hope that is a typo and not some Guyanese ripping off the smartest men in the world.”
~~~~~~~~~~~~~~~~~~~
No such worry…
Symmonds is FAR removed from that status.
@African Online Publishing Copyright(c) 2022.
“The very reason no more information is forthcoming, talk is cheap, whisky is expensive.”
Talk is indeed cheap, “GOOD” whiskey is expensive, Mount Gay Rum is NOW expensive(price doubled in last few years) but is not the same XO(aged)Blend, but now contains mostly immature aged rum made from Jamaican molasses. Another example of Barbados batting above its weight. Well the International Rum World has taken NOTICE of this attempted slight of hand to improve the bottom line and are now not stocking the Mount Gay product line like they did 10 years ago. Internationally you see a NEW PLANTATION BRAND showing up representing the Caribbean, bottled in various Caricom states, priced as a premium product and in numerous cases the country of origin is not stated.
Hummmmm.
Now as to “reason no more information is forthcoming”
The intelligentsia realize that as long as Barbados overseers(Politicians) are not serious about legislating and enforcing an INTEGRITY Legislation then all that’s warranted is CHEAP TALK.