A Cloudy Economic Vision : The Barbados Dollar and it’s Sovereign Risk

Kemar J.D Stuart, Director Business Development , Finance and Investment Stuart & Perkins Caribbean

The strategic strength of the BDS dollar has been eroded by the lack of growth in the local economy, overall drop in GDP, rapid increases in foreign debt, an inability of the Barbados market to generate increases in foreign income, the external debt restructuring, foreign debt default & being barred from international capital markets along with a continued spiral in oil and good and services. The commitment to the 2:1 peg requires a widening commitment to borrowing larger than usual sums of foreign debt to fill the gap thus continuing to drive up inflationary prices which will then be passed onto local consumers and later collected via indirect taxation. The present BDS dollar was created after the establishment of the Central Bank of Barbados (CBB), which was founded by an Act of parliament in May, 1972. The Barbados dollar replaced the East Caribbean dollar at par in 1973.

Since 5 July 1975, the Barbados dollar has been pegged to the US dollar. Since the Erskine Sandiford IMF experience, the IMF officials hold a view that the 2:1 currency peg needs to be softened or devalued in order for Barbados to attract substantial foreign direct investment/income. The Mottley administration’s most recent move to benefit from the foreign exchange circulating in the banking system is the Exchange Control Amendment Act 2020 which provided for the continuation of the collection of a foreign exchange fee implemented by the Stuart Administration in 2017. However the IMF recommened that it be repealed.

It is public knowledge that any country that defaulted on its foreign debts and entered into IMF programs eventually devalued their currency. Countries with greater productive and earning capacities such as Jamaica, Trinidad, Mexico and Guyana all have had currencies based on strategic resource based growth underpinned by a currency peg similar to the BDS / US 2:1 peg but now they have floating currencies. Despite Barbados’ reserve strength no comfort can be found in a small open economy where a widening foreign exchange gap exists; the current account deficit is $1B in loss per year for 2 consecutive financial years.

Barbados is now a republic with no republican constitution in place and in finance & risk management parlance, sovereign risk is any risk arising on a government failing to make debt repayment or not honoring a loan agreement where such actions can be resorted to by a government in times of economic uncertainty, political uncertainty or even to portray an assertive stance misusing its independence. To determine misuse of Barbados independence, on display was the ministry of finance overpaying fees to White Oak Advisory at $54 M . The parliament passed the debt restructuring act with a collective action clause which states that only 75% of creditors need to agree for future restructurings to be legal; 4 government ran istitutions can own 75% of debt , the debt settlement bill which pays all liabilities of government in bonds including payment for lands and medical injury, arbitrary use of the Land Acquisition Act where government has taken lands of owners then to tansfer ownership to private developers.

The direct purchase between owner and developer could have occurred without governmental intervention. The write off of $1.6B owed to the Central Bank and $1B from NIS

95 thoughts on “A Cloudy Economic Vision : The Barbados Dollar and it’s Sovereign Risk

  1. There was always only one possible ending to the folly that defines our national approach to financial management.
    It is amazing, with an expensive FREE university, whose graduates have been mostly lawyers, economists and political scientists (whatever the Hell THOSE are), that these have become the areas of most obvious failure, indeed of folly, for the country.

    Any grassroots single-parent KNOWS that the simple key to economic planning is to live within your means.

    You can either CREATIVELY minimize expenditure of any meagre income that you are able to eek out…
    .. OR you must CREATIVELY seek to maximize the income that you are able to earn by being MORE PRODUCTIVE, INNOVATIVE and RESILIENT than everyone else…

    This shiite about borrowing from all and sundry IS KNOWN to result in having to bend over to some unscrupulous lender eventually – and hopefully to have access to vaseline when that time comes…

    The time for Brassbados is now imminent…
    By mid-year, when the BRICS global currency is launched, and when the USA is FORCED to retreat to digital currency, the resulting chaos will be CATASTROPHIC for small indebted economies such as ours – with ZERO productive capacity, almost total import exposure, and massive debt burden…

    The COST of all the shiite borrowing will become VERY evident VERY quickly to all and sundry ….especially to sundry white elephant hotels and other idiotic capital projects used as excuses to access borrowed money.

    Sir Cave Hilary should be called to defend the RESULTS of his stewardship on the hill above the cave.

    Bushie hereby appoints Pacha as judge and (if needed,) executioner….

    • @Bush

      Agree, cost management and charting a path for sustainable earning goes hand in hand BUT the contradiction is a political directorate who lives on being popular by feeding their addiction. A no win?

    • Bushie
      What is that quaint concept about “living within one’s means”?

      You must be 150 years old in trute. For such a dated saying is there properly located.

      For neither capitalism, neo-liberalism, the plantation economy nor anything else to which this country has been exposed has ever centred living within anybody’s means.

      There you should identify such an epoch. It certainly cannot be at the height of the plantation economy for obvious reasons.

      Otherwise, per usual, we tend to agree with your general meanings. Especially when forced-riped, faux intellectual widgets, as no doubt a product from the hill, like this Kemar Staurt, could with “facetiness” continue to regurgitate the same failed thinking as best located within another long past epoch.

      At least such people should be smart enough to analyse our persistent even chronic failures within current external realities.

      Failure to so do but possessing the temerity to subject readers to such shiiite, a lot could be said about.

      One would have though that at a time when everything this fool thinks he knows is being upended his intuition would have suggested an insight which deviates from this dead thinking.

      Then again, everybody around him is like minded.

    • No Sir!
      Not ‘no-win’…. No-Brain!!!

      “Leaders” are those who are CAPABLE of educating, inspiring and LEADING the masses to a BETTER place…

      ANY jack burro can ‘check the polls’ and quickly run to the front of the shiite pack. Don’t you see why Petra Wicky is so popular…?

      Somehow, ‘wisdom’ is deemed to be the ability to quickly determine what the majority of brass bowl clowns are thinking… and rush to the lead.

      Steupsss … only ONE possible ending….

      Clearly is is BEYOND our capability to identify persons of CHARACTER, VISION and INTEGRITY to conceptualize and articulate where we need to go as a country. Therefore we are destined to be guided by the statistical analyses of clearly misguided and mis educated brass bowls…. as computed by a warped Petra..

      It this your argument…?

    • @Bush Tea

      This is where our so-called democracy versus a dictatorship, benevolent or otherwise enters the conversation. There is a lot of downside in our system of governance that requires politicians to prioritize being popular that often conflicts with relevant national interests and imperatives.

    • There is a lot of downside in our system of governance that requires politicians to prioritize being popular that often conflicts with relevant national interests and imperatives.
      A clearly flawed system.
      And those who cling to a flawed system should expect to reap the fruits of brassbowlery…

      Just so that we all are aware… and there is no grumbling and complaining when the jobby and the big fan collide….

      “Oh dear, we had a bad system…”
      This is likely to be the most common refrain in Hell…

      LOL Bushie can picture (…from afar of course) the top Post of your new Blog….
      “The REAL HOT Underground ”

      “Bushie was right as shiite” -posted by Pacha 🙂

      LOL ha ha ha

    • @Bush Tea

      Our ecosystem is a microcosm of the western system? How can a tiny Barbados be truly independent especially given the debt burden? The goose is already cooked!

  2. I am wondering with the new policy recently put forward to use local currencies for trading purposes regionally …not the greenback anymore….who will be the clearing houses…unless am missing something here..

    “The direct purchase between owner and developer could have occurred without governmental intervention.”

    Cant generate any bribe from that…it’s the whole point..

    “arbitrary use of the Land Acquisition Act where government has taken lands of owners then to tansfer ownership to private developers.”

    But can from this, the misuse and century old abuse of eminent domain.

  3. @ Pacha
    What is that quaint concept about “living within one’s means”?
    Boss… Some concepts are timeless….

    However Bushie offered TWO options.
    EITHER find a way to survive within the limited means….
    Find a way to EXTEND the boundaries of your means.

    EITHER WAY, unfortunately, requires creativity, innovation, self-confidence and honesty…

    WE have failed in BOTH approaches for lack of the needed qualities – which attributes were charged (at great expense) to be facilitated by the Cave on the Hill.
    Instead, their focus has been on cricket (which took a nose dive since they got involved) and reparations (which requires going around begging and seeking pity from people who proved over the last 5 CENTURIES how they feel about us…)

    When the Hell do you plan to convene the damn court Boss…?

    • Bushie

      We are at loss.
      Has the USA ever lived within its means?

      And are we not merely an imperial outpost of theirs?

      If empire would not let us feed ourselves then how would it be so possible, to live within means?

      Don’t you see that the entire Western world, which some claim to be part of, has always been about the opposite of living within means, everything around you?

      Do you presume that this cultural dead end could have been avoided by living within means, bucking the externals, damping down on internal desires, wants?

      That this is the first time we’ve been here economically, in history.

    • No Sir!

      For you have spent your whole adult life being critical of the IMF, as an example.

      To us that has been at least an interrogation of the entire Western economic construct.

      Of course, we could put some more flesh on that bone.

      For years this writer has also been party to conversations, and currently still am, which tried and continue to try to overthrow a system which makes the poor poorer and the rich richer – peoples or countries.

      So no! The dominant narrative is a given but nuff people are and were always out there seeking justice, economic and social.

    • @ William
      It does, but Bushie is happy to be dated.

      @ Pacha
      So let us understand…
      Your standard of desired behavior is the self-entitlement exemplified by the USA and the Empire, that has brought this entire world to the slippery slope towards doomsday?

      Bushie is old as shiite and has lived happily within his means for all his years, admittedly after sponging off parents for about twenty years. Those childhood debts have been repaid more than ten fold to family, friends and strangers.
      Admittedly the bushman has some talents, 🙂 but no more so than any other brass bowl…. and brassbados is overflowing with talent…but

      Selfishness and greed, combined with a sense of entitlement characterizes our albino-centric disposition, and it appears to be endemic.

      This will be the death of this flawed world system that we have adopted….

  4. Bushie
    On the first point, no! This writer has long called for shutting down supermarkets., for example.

    Why would one having the American system as a benchmark seek its overthrow.

    This is precisely what the current historical moment gives us s chance at. Like you say all the time. This moment has not happened in centuries, maybe longer.

    And if you’re following the discourses around this issue of mutipolarity, like we know you’ve been, you would’ve seen that not the Chinese, not the Russians are seeking hegemony, to replace the Americans.

    For example, all currencies are equitably valued. And on and on.

  5. Waru

    Local currencies for regional trade!

    At least somebody smells the coffee brewing.

    But it just can’t be a meme. Follow the ” leader”. Behind this, some economic activity must undergird regional currencies.

    For in order to have economy, as basis, we need to have a way to circulate money within the region at least 18 times before it leaves the region, if at all.

    Everywhere this is being proffered serious economy is being constructed under it.

  6. “Behind this, some economic activity must undergird regional currencies.”

    Yep…and sturdy institutions built for clearing currencies..

    Let’s see how they handle it…

    definitely a “watch muh nuh” long term moment. Trinidad, a more proactive society may take the lead on this one..

  7. Yolande Grant - African Online Publishing Publishing Copyright (c) 2023. All Rights Reserved. on said:

    Pacha…4 more dead …plus shooter in a Louisville Kentucky bank this morning…the beat goes on.

    • Just in time for Derby week. But one (or more?) of the dead is a buddy of the Gov.

    • Waru
      Yes this is a sign of times. However, there are many more, clearer than this.
      For example, of the 70,000 bridges needing repair, one collapses every day.

      Better yet go to China or any other serious country and compare the American dying, aged old, crumbling, infrastructure from early last century. A different world!

      This will make it clear that the whole culture is dying, from the inside out. And when cultural death kicks in only Ntr can save them from this divine judgement.

  8. While I am one to encourage contributions from the ‘next generation’, I fear this young author does more damage than good.
    If one wishes to argue for or against a currency peg, DO SO.
    What does the use of eminent domain, arbitrary or otherwise, have to do with the peg?
    I agree, White Oaks was an awful deal, but what exactly does that have to do with the peg?
    The Barbadian economy has been in a flat/low growth trajectory for umpteen years. The Debt was shaved via default/restructure, and let’s not try to pawn it off as “external”, for many local entities and persons took a huge hit. It is RE-approaching the levels reached by 2018. And lest we forget, in 2013-2014 Barbados registered back-to-back $1B deficits. It’s not new.
    And I will wager, one can go through the entire peg debate, all the options, and one will arrive back at a simple reality…Barbados has run an annual deficit almost every year since 2005. The continued borrowing, is more to support deficit + deficit + deficit etc etc than the peg. And these deficits are caused by SPENDING more annually, than the island can collect in Revenue.
    We can choose to ignore this, in a similar way the default/restructure was met with “it en had to be so, tings were good; they had other options”. But then there is a silence on those options; Big Sinck tried to pull a Sandi and get local commercial loan backing and was told where to go. One might expect Sandi to utter soon again, “wait, how we get back here”. The simple answer is deficit, after deficit, after deficit. Or translated, spending too much, after spending too much, after spending too much.
    But tings sweet? The sun shining, it is warm out, and much of the world would love to live here in this idyllic spot. So unnerstandin’ we en changing one shiite, lewee find innovative ways to explain to all ah dem, why we need more money, at lower rates for longer periods. Even bettah, dem could give we money for the wrongs dey have done to we.
    Happy holidays to all those who celebrate them.

    • Quote:

      “For ages, the only way to become rich was war and accaparation, then all of a sudden a relatively modest city called Amsterdam decided to favorise trades by peaceful manners, using brains instead of muscles favorising hence an ecosystem and using mercenaries only when necessary. Protestantism favorised capitalism by the idea that property could be shared. Capitalism is a division of property into shares (Max Weber) multiplying the possibility of investors it is a German invention. A Revolution against feudalism. Before no one had had the idea a company to multiply the collection of money. Except thousand years ago during the Roman Empire. The only credible other model was Colbertism… the intervention of the King into the economy by the creation of Royal Manufactures and infrastructures. Actually nothing has changed at all… we do not see how it could changed and why? The best model is a mix of both. Only technologies and cultural context change.”

  9. “For example, of the 70,000 bridges needing repair, one collapses every day.”

    Tells us funds would be better spent on infrastructure upkeep, rather than wars that destroys all infrastructure…but they have to want to do it..

  10. US empire is bolstered by its military-industrial complex
    10% of US Manufacturing is Military / Defense
    USA is World’s largest arms dealer with 40%
    Defense Outlays is 3.3% of US GDP (742 billion U.S. dollars 2021)

  11. https://youtu.be/0DUSGRKchsQ

    The people in the congo saying white men have already stolen the stones.

    Expect another war in the Congo.
    The multinational in the West ( USA/ UK/ France )will finance a proxy war & lot these minerals from Africa, while Africans see no benefit, all the profits & technology will benefit the West.

    African need to protect they resources & discoveries. The criminal in the USA will falsely claim all patents & intellectual property related to these rocks for themselves.

  12. https://youtu.be/vSDUZfT_A9M

    If this discovery is used the right way it could benefit all humanity.

    I am just dreaming , once the Albinos from Europe & America come in the African will remain in poverty & all the profits & andvances in technology will end up in Europe & America.

  13. Pacha…from information am seeing “developing countries” will have some problems going forward…”debt distress” being one..meaning there are more…and for multiple years.

    World Bank chief is now outgoing, maybe pretenders can send in their resume for the job, it is a way to the top without trying to kill anybody.

    • Waru
      No, there will be the wiping out of all debts acquired in any Western currency.

      This is the planned payback for stealing peoples’ things by sanctions etc. Then we’ll have to assess real reparations for colonialism, thief of cultural artifacts etc

      What Bushie would call a jubilee!

      But some of the *uckers won’t desire such. Like the lackies in Caricom!

  14. @ David
    Our ecosystem is a microcosm of the western system? How can a tiny Barbados be truly independent especially given the debt burden? The goose is already cooked!
    LOL..Where is your famed optimist boss?

    OF course you are correct…
    “For wide is the gate and broad and easy to travel is the path that leads the way to destruction and eternal loss, and there are many who enter through it.”
    That is taken for granted.

    Bushie is more concerned with those who are CLEARLY wise enough to see that the glow at the end of that ‘wide and easy road’ is the reflection from the pits of chaos… and who seeks an alternative route.

    NO ONE can be truly independent in this spirit dominated world.
    The TWO options are;
    .. the demonic, albino-centric-characterized ‘wide and easy path’ that we all know so well…
    ..the straight and narrow path of community-centric, righteousness, that is characterized by love and unselfishness.

    The ‘narrow gap’ can ONLY be followed with spiritual help, but SEEKING that help is an individual (and any small country’s) personal call…
    Easy as that..

    • Bushie
      Writing discloses what you have never read. And there’s a mountain, which needs to be taken to Mohammad!

      Have you ever heard about the philosophical binary, the graveyard of the Great Multitude – Manichaeism.

      Better is expected of you!

  15. The author is quite right in his analysis.How much we have declined is evident from the fact that today we are begging for reparations for events that happened almost 200 years (sic!) ago. The total culmination of self-abasement. All schooling, all university degrees were obviously for nothing.

    However, the author has to ask himself whether his party, a conglomeration of financial illiterates and clueless plantation servants, has the right solutions here. Since 1966, his party’s solution has been solely to launch economic attacks against our hard-working class of local entrepreneurs, to seduce the masses into laziness as sleepy civil servants and wallow like hogs in the benefits of the welfare state.

    In the not too distant future, we will have to adjust the horribly overvalued Barbados dollar to local productivity. Thanks to the DLP and the lost decade. Thanks to them.

    … Unless our people continue to vote for the movement of our Supreme Leader. Only she has the required expertise to lead us out of this valley of tears to lofty peaks, glittering with gold and jewels. Just as Moses once led his people out of Egypt, our leader will lead our chosen people out of trouble.

    • WHO are Our Chosen People?

      Good to see your most recent sojourn to the comedy world is producing amusing contributions.

    • Tron…… your satirical contributions provides this forum with an entertaining form of social commentary. Excellent writing skills.

    • “Since 1966, his party’s solution has been solely to launch economic attacks against our hard-working class of local entrepreneurs, to seduce the masses into laziness as sleepy civil servants and wallow like hogs in the benefits of the welfare state.”

      What boggles the mind about the nonsense that passes as commentary from this fucking dog, is that the “benefits of the welfare state” is only “welfare” when black taxpayers have to benefit. Of course, when the PM wrote off years of VAT and NIS (non)-contributions to benefit the so-called entrepreneurs (who, of course, are the white “aristocracy” you and your debased ilk so love and adore), and a established corporate tax-rate so ridiculously low that this administration is still struggling to get off the OECD “grey” black-list, none of that was part of the welfare state, because, as was once noted: “rich people can never, ever, be on welfare.” So, taking money from the black masses and giving to the monied classes is not only right, it’s justified. After all, why should these black dogs expect anything of benefit from their own tax-dollars, amirite? Rich people work hard, correct? That’s why they’re rich, right? Yet, when the black people – sorry – “hogs” work hard they aren’t supposed to get rich? No, “hogs” only get to be slaughtered.

      Of course, the “sleepy civil servants” wouldn’t be so sleepy if they would just ignore the law and sell what’s left of their souls to this administration at every turn, in every way, would it? Again, for a civil service that is so inept, and lazy, isn’t it funny as hell that the only place this administration can find jobs for its lackeys and ass-lickers is the same inept civil service? How about that for irony? What, with new $6000.00/ mth. openings in the offing for “representatives”! Especially when the “lost decade” saw us hovering on the bring of the economic abyss! The horror! Yard-fowls from all walks of life are literally clamoring now for “piece o’ guvment work”, as sleepy and lazy as it is.

      I have to admit though, that the lack of push back against this loathsome turd is on par with this yard-fowl cabal is no surprise. After all, the fearsome national debts was only scary because the DLP was borrowing, but now the BLP borrowing even more – but it’s all right. The hypocrisy of the cabal is a feature, not a bug.

      However, I know the REAL problem with this racist degenerate masquerading as a human being here on BU. It’s the fact that Barrow oriented the economy from agriculture to a more service-based one. That was the real thing, wasn’t it? Why educate these disgusting black masses? What right do they have to want to be doctors and lawyers and engineers, when the white masters have cane to cut, and shitty baby nappies to wash, and gardens to weed, and drinks to serve, and food to cook, and shoes to shine, and cars to wash, and errands to be run? How could these black hogs ever imagine such a thing? Blackies going to HC? Ridiculous!

      So, now that the PM Mia Messiah Jesus Savior Almighty Amor Mottley is in power, she is the right one to put us “uppity” black hogs in our proper place: at the feet of our white saviors. Oh, if only we could wake up bright and early tomorrow back in the fields and hills beyond recall, pants legs rolled up to the knees, knee-deep in cane stalks and trash, cutting and piling, cutting and piling all the whole day long; while our loving, benevolent white masters patrol with shotguns, (you know because us hogs can’t ever be fully trusted).

  16. Switzerland and other European countries making massive profits from relabelling products from Africa & the third world as their own.
    Although no coffee trees are growing within Switzerland, the nation is one of the most significant trading places for green coffee and one of the world’s largest coffee processors.
    Switzerland is one of the world’s top 5 coffee exporters
    14/12/2016 BY LE NEWS.

    According to UN trade statistics, the small Alpine nation exported US$ 2.4 billion of coffee in 2013.

    UK Lipton tea brand reads made in Britain, even though the tea is imported from Kenya. They import tea in bulk from Africa put ina label / brand on it the resell it for 20x.

    These corrupt & fraudulent trading practices allow the Albinos in Europe to get rich of the while black people continue to be carry wood and water for them.

    I think in support of our brothers and sisters in Africa, we should boycott tea/ coffee / Cocoa products from Europe. If we buy directly from Africa / countries that actually grow these products we are helping to support the poor farmers in these countries.
    We have to stop supporting the corrupt trade & financial policies design to keep people in Africa & the diaspora in poverty.

    Ghana’s President, Nana Akufo-Addo has disclosed at a conference at the Federal Assembly of the Swiss Confederation in Bern, Switzerland on the 28th of February that going forward, Ghana will no longer be exporting its raw materials including Cocoa beans to Switzerland.

    Switzerland makes millions from chocolate while Ghana gets paenuts.

    Stop supporting these criminals, if they want to make millions from these agricultural products let them go & work the fields in the hot sun.

    There was one thing the European Albino could NOT endure…EVEN IN EUROPE:
    The SUN!

  17. @NorthernObserver on April 10, 2023 at 11:19 PM said:

    The chosen ones are those whom our Supreme Leader chooses, i.e. ministers, advisors, judges, other party members (as long as they are loyal) and neutral persons like me who only want the very best for our beloved island.

    Note by the way: I drove along the entire platinum coast today. Am very impressed by the new road, over which my vehicle glided as if on air cushions. Finally an adequate access to Sandy Lane Plantation, Westmoreland Plantation and Monkey Plantation.

    I was just a little surprised that there were so few sunburnt white ghosts with that funny British and Canadian accent on the beach. Are we not in high season or did I miss something? With so many abandoned hotel ruins, the truth seems to be that we only go at 50 per cent occupancy …

    Neutral reporter from the most beautiful island in the world

    • Crews must have worked quickly, for the stretch at ‘St.Peter’s Bay’ was a mess in January.
      Not a soul wukking at the old Heyman’s site after they built the jetty and groins, or rock structures in the ocean.
      The arterial roads are a challenge.
      All the tourisses mussee out pun boats, causin’ by June, the report is already in, it was a bumper season.

  18. @ Northern Observer
    Why bring age into the discussion. Don’t you and others realise that “ young people” have been running the country for sometime now.
    Owen Arthur, David Thompson and Mia Mottley , are very young people who became leaders and national influencers in their youth.
    If we check the intellectual class, we would realise that we have many who have been in serious public discourse, starting at the same or around the same age as the author.

    • @WS
      I am not dismissing history nor suggesting young people are not involved in politics.
      Rather of the talking heads who we hear from frequently, they cannot be said to be young?
      Even Mr Forte who lives in my hometown these days, is in his 40’s.
      It isn’t long before the human mind gets such, that we hear the same old over and over? Take me, and others.
      There is even a mystic posting whose lines are not so mystic 😭
      The only place I am likely to hear new(ish) ideas is from the younger set.

  19. @ Pacha
    How can we be economically strong if the region continues to act as a fractured entity ?
    What are we going to “ under grid” the economic system with?

    • Skinner
      We can start to produce the things we need. Those things we too like to import. The things which have us in debt.

      Countries must produce or perish. And the people should br made to face this dilemma.

      This is not going to be easy. We fear that the mentality required may itself need to be produced first.

      Thusly, economy is undergrided by a radical political determination.

  20. William…maybe now the shit and fan have finally met and man do they love each other……they will stop their crab and viper fights to climb on top of each other to impress Empire, make idiots of themselves trying to fit into a dimension they dont and NEVER WILL understand

    …..because…********** and again, never will….

    and finally get down to the business of taking care of the people and islands, they want to wear too many hats as wannabes and neglect their TAXPAYER PAID JOBS, the people and islands….

    The people will deal with them and their fraudulence…..

  21. Could it be that the laws we recite and slavishly followed were designed to protect those coming from the mother country much more than the islanders themselves.

    The protected may have widened, but the islanders remain on the outside looking in.

  22. A wise man use to say that the problem of Barbados was not one of corruption but one of incompetence. Learning by rote is also a major issues. The capacity and courage to make necessary change is ‘learnt’ out of us.

    If it is not in some text book, then we hem and haw and kick the can down the road until it finds a resting place. We are not a people of action, words are our forte.

  23. I clicked on “Court” at the bottom of the BT page and this came up

    Somebody is getting the idea. All of these ̶f̶r̶a̶u̶d̶s̶t̶e̶r̶s̶ cricketers should be thrown in jail.

  24. Shite words…and they are not even good at that either….failures in any cause….taking up unnecessary space, using up unnecessary resources.

  25. “All of these ̶f̶r̶a̶u̶d̶s̶t̶e̶r̶s̶ cricketers should be thrown in jail.”

    Over a game right, but they wont jail the evil sows robbing, injuring, killing and pauperizing them, got them so backward they dont know who they are, where they came from, their history or anything about themselves, but the sows KNOW and wont tell them…go figure.

    Once i ESTABLISHED that…..based on my experiences…not about to get involved in that anymore.

    Funny how the changes just present themselves, i had to do nothing.

    Free from all of that at last.

  26. “We can start to produce the things we need.”

    I have never read a label that said “Made in Barbados” (except for rum)
    clothes nowadays say “Made in Bangladesh” as Global Bids go for the lowest cost that undercuts all others (labour costs are 150 Barbadian Dollar per month)

  27. “when forced-riped, faux intellectual widgets”. LMBAO!! But BU loves faux intellects though, so Kemar at home here.🤣🤣🤣

    • @Enuff

      It must be the water because the blogmaster sees members of the hierarchy of the political directorate in the pool as well.

  28. @David
    Who you see or don’t see, does not make my observation incorrect. I just read, drink water and mind my bizness these days. Let the BU intelligentsia get through. You may have the last word.

  29. Wonder what ya call those who had so much private and confidential information and knowledge belonging to their employers ILLEGALLY in their possession and misused and abused it….

    Guess ya gotta get a whole new category and label to slap on them….along with all the other Karma headed their way…

  30. The trick to kemar is not to read him
    I’m sure he impresses all the boffins
    he may get headhunted for a job application

    Top Shelf
    I have my credentials in finance accounting and investment markets
    but you got to pay me (big bucks) for my thinking

  31. @!Pacha
    Agreed. Nothing new here. You know very well that most of the Brothers and Sisters who were giving similar advice never saw it materialize and you know this goes back to the 60s.
    We are caught in a vortex, my Brother.

  32. Sad is it not..

    Finally, the people get to see, those who have eyes, that the intent was NEVER for the improvement betterment, upward development or wealth generation, upliftment of the Afrikan population, it was only ever about destruction.

    Cant even hide it anymore, all pretenses are now stripped completely away…

  33. Lawd….then there is this..

    “IMF warns of slowing global growth

    The International Monetary Fund warned Tuesday that a collision of inflation, energy and food crises, as well as sharply higher interest rates are pushing the world to the brink of recession and threatening financial market stability.

    The IMF further cut its 2023 global growth forecasts, saying that countries representing a third of world output could be in recession next year.”

  34. Waru
    Be careful.

    A recession used to be two consecutive quarters of declining GDP.

    In recent years we’ve seen a selective departure from this.

    Existing before, but heightened after Covid, and continuing hence.

    Such things are the politics within political-economy. Not science based.

    In the case of the USA, the Biden Bad Boys have erected all kinds of specious arguments as a front against recpgnizing an American recession which continued for more than 6 months.

    Everything these people have told us is a lie. Everything!!!

    Should be so seen. As the point as departure. The direction of travel.

  35. “In recent years we’ve seen a selective departure from this.”

    Once you own the system, you make the changes that suits your desired outcomes. There will be no departure from that reality.

    Ownership is ownership with everything it signifies. That has become understanderably clear to me in recent weeks.

  36. Forecast Predictions are for 😶 🌫 💨 Grey Cloud Recessions Worldwide..

    Perhaps the BLP / Barbados’ International Monetary Fund (IMF) 2018-22 Extended Fund Facility (EFF) in addition to a Resilient and Sustainability Fund (RSF) economic reform program (BERT 2018-22) are more canny than the Raggedy Lumpenproletariat give credit for.

  37. Pacha…read the idiocy coming from the creatures who steal from us..dont for one minute think they are not working overtime to make it happen, aided and abetted by the nasty treacherous black face types like ya got in Barbados…..the wannabe pedigree..

    “The county councillor is accused of saying black people were of “lower class” than white people

    A Conservative politician is being investigated by party chiefs after allegedly saying: “All white men should have a black man as a slave”.

    County councillor Andrew Edwards is also accused of saying black people were of “lower class” than white people during a 16-second clip.”

  38. And the retard seems to be very serious too..

    …says the thieves who stole from us to pretend they are superior…this one doesnt even know that he is a minority…and he looks like a drunkard too.

    “On the recording, the speaker says: “Nothing wrong with the skin colour at all.

    “I think all white men should have a black man as a slave or black woman as a slave, you know.

    “There’s nothing wrong with skin colour, it’s just that they’re lower class than us white people.”

  39. When they made the devil man they broke the mold
    #BLACKLIVESMATTER (because they don’t)
    I can’t breath
    I’m turning blue
    When black youths are in the papers
    It is usually to report crime

    17 years I was on the earth
    before police showed me what my life was worth
    20 years on from now I’m almost sure
    that things won’t be happening like this no more
    Will it?
    No I believe in my heart the revolution is about to start
    I bet way in the future police ain’t going to acting like this no more
    I will be able to walk down the street minding my own business
    It’s all going to be different

  40. Am only reading good news regarding virus and vaccine.

    “Now experts say that Pfizer & FDA misled & lied to the nation & world! That the studies were fraudulent, they dropped subjects & used bogus statistical analyses! Duh! Doshi, myself, McCullough @P_McCulloughMD, Risch @HarveyRisch”

    The next piece of news is even better.

  41. There is no getting away, the bullies are all going down…read twice…keeps getting better and better..next, arrest warrants and handcuffs, Pacha’s guillotin or a cousin……wont want to be any of them.

    “Karen Kingston’s ‘Kingston Report’: Nonsense Makes No Sense;

    There is NO contract or law that provides immunity to a manufacturer for producing a bioweapon for use on a civilian population’; BOOM!
    BOOM! Kingston is over the target & her attention to detail is staggering; she gets it, really does!

    Americans know that the COVID-19 injections are the direct cause of recently diagnosed disabilities
    ‘Americans know that the COVID-19 injections are the direct cause of recently diagnosed disabilities, disease and death for millions of adults and children and that the manufacturers, including Pfizer, promoted their COVID-19 injections as safe and effective vaccines knowing they would cause injury, harm, and death.’

  42. I take it they are all still following the science..lol

  43. Jail etc, are inching closer and closer…the next 2 years, some say much sooner, will be interesting to say the least…this here is more than enuff to cause all the hopped up on ego players mucho sleepless nights….wunna gine pay, and pay and pay..

    “Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter
    Sign in
    Read in the Substack app
    Open app

    Discover more from Alexander COVID News-Dr. Paul Elias Alexander’s Newsletter
    COVID-19 and SARS-CoV-2: natural immunity; innate immunity; vaccines and immune pressure; no vaccines for children; early outpatient treatment; lockdowns; school closures and mask mandates and
    BOOM! Switzerland: Why has Swiss government now moved to say NO to the vaccines (none) COVID gene injection is recommended now, even for HIGH-RISK persons? What does the Swiss government know that the US does not?

    Simple, they know that COVID mRNA technology based LNP injection is a fraud, dangerous, does not protect the airways & causes harms, death, re-infection; WHO on April 7th said none for healthy kids!

    APR 10, 2023
    No one is to get this dangerous poison, no one under 65, over 65, NO one!
    Ask yourself: why did WHO quietly say that these shots must be stopped in healthy children? How many healthy children got them via scared parents, and got harmed and died? We must strip WHO down to the studs and jail many of those corrupted WHO technocrats who advocated this! Jim Hoft of Gateway again ahead of the pack!”

  44. And exactly who do they think this will be but the eager and giddy worker ants who wielded emergency powers with such delight…ya nah get way…whatever misuse and abuse took place, ya gine pay….serious business.

    “‘Biden ends COVID national emergency after Congress acts: The U.S. national emergency to respond to the COVID-19 pandemic has ended’; now, this is good, let us get the REAL investigations ongoing &
    get to a place of serious accountability & justice; must ensure that each & every person who enacted COVID policies that killed people & they also benefitted ($), we impose financial penalties & jail.”

  45. The cries of the mystic man
    I would like to come here and discuss monetary policy but those that concern me don’t really have money.

    I would like to come here and discuss wars everywhere but I feel more compelled to discuss the war that we carry on those less fortunate.

    It is not leaks that bother me, but the lack of leaks as our politician goes about doing our business in secretive silence.

    I should be excited by new laws and judicial appointments, but I have seen that our lady justice is not blind. She smiles at some and frown at others.

    The thought of a new constitution should be a delight, but I am fearful that it will be a mere cut and paste with a little wordsmithing; a document with a host of promises that will be broken for some.

    Sometimes, I wonder if words mean anything. Perhaps the words do mean something, the lack is in the moral fabric and the purposes of those who utter them. Acting like suitors seeking to deceive a gullible young lass with sweet nothings.

    I should be positive, but the reality of the situation forces me to hold my breath and wait. Torn between the urge to be silent or to be outspoken; wanting to be complimentary but unable to quell discomfort and pain of trying to be such; watching words stream forth from my pen as if uttered by another.

    I try to stay away and to remain silent, but that person is not me. I throw my rantings into the wind in the hope that they may fall on the ears of someone who can do something. I know very well the feelings of the sower who scatters his seeds on both good and bad lands.

    To myself, I am not who I am. Can I be the person you think me to be.

    Mystic Man

    • I am not who you think I am; I am not who I think I am; I am who I think you think I am.

  46. During the first spring blitz on April 2 crews repaired 6,353 potholes.

    Crews will be repairing expressways, major roads and neighbourhood streets from 6 a.m. to 6 p.m., to repair as many potholes as possible.

  47. Commander Hants
    Sometimes when discussing money, the reader is unaware of whether we are speaking of US or BDS dollars. This is usually an indication that something corrupt is afoot.

    However, though I believe that you are an honest man, I must ask you to specify if these are Barbadian or Canadian potholes.

    Do you realize that I have given you a higher rank than Sarge …

  48. Here is the final episode in the Gold Mafia Aljazeera investigation report. As for the doubting Thomases amongst you, I hope the report will wake you up from your “soon come Caribbean style” nocturnal slumber.

    The same methods and the same actors are being or will soon be introduced to Barbados. Barbados may shortly become the latest and youngest whore on the block should it go down the predicted gold hub money making route.


  49. @ David

    There has been some interesting, recent developments relative to regional travel.

    Firstly, according to rumours, it seems as though Caribbean Airlines is seeking to take over as many routes previously served by LIAT.
    The airline entered into an agreement with Nordic Aviation Capital (NAC) to lease three ATR 72-600 aircraft, which will be used to increase domestic airlift between Trinidad and Tobago; facilitate an increase of its operations in the region and add destinations such as Dominica, and Ogle in Guyana to its itinerary.

    Secondly, interCaribbean Airways acquired two additional aircraft resulting in an expanded flight schedule to service Antigua, Barbados, Dominica, Grenada, Guyana, Saint Lucia, Saint Vincent & The Grenadines.
    Flights to and from Barbados are supposed double, with more flights going nonstop to St Vincent and Grenada.
    The airline also launched its new nonstop service between St Vincent and St Lucia.

    Interestingly, interCaribbean assured that, ‘with an expanded fleet, it now offers travelers enhanced schedule options and improved intra-regional travel with greater connectivity among the Islands.’
    Unfortunately, however, the reviews I’ve read and experiences heard from passengers, clearly suggest the airline’s customer service is extremely poor.

    Thirdly, from April 1, 2023, Air Antilles will offer a new daily schedule of flights between Barbados and Dominica, St Lucia, Martinique, and Pointe-a-Pitre in Guadeloupe.

    Based on this increased flight activity, it’s not surprising why regional governments seem reluctant to invest or re-invest in LIAT.

    • Thanks Artax.

      LIAT 1974 has been a bitter experience as you know but there is an obligation by Caricom governments to facilitate efficient regional travel to assist with deepening the integration process. It cannot be left only to private enterprise who will have the profit motive as priority.

  50. @ David

    I agree.

    Unfortunately, it’s an obligation hindered by insular and non-committed ‘governments’ that want to reap the financial benefits, off the backs of shareholders, to be derived from regional travel, but are unwilling make the required investments.

    However, regional governments will have to look beyond the existing ‘LIAT model,’ which Gaston Browne seemingly wants to preserve, perhaps for his own self-serving reasons.

    According to BTMI statistics, Air Antilles currently offers Barbados a service of three to four flights weekly.
    As I previously mentioned, that airline intends to increase its service to the island with an additional 20,000 seats.
    It is anticipated that this 133% increase in seats would realise an incremental economic earnings of BDS$9M annually.

    Additionally, many of the Caribbean ferry services are operated by the private sector.
    For example, Antigua Montserrat; St. Kitts Nevis; Anguilla St. Maarten and St. Martin; Dominica Guadeloupe, Martinique, St. Lucia and St. Lucia Martinique.

    Some people may ask why should tax payers subsidise airfare for leisure travel…… for people to travel to St. Vincent for ‘Vincy Mas?’

  51. @ David
    “…It cannot be left only to private enterprise who will have the profit motive as priority.”
    Would this not have been a much better option than leaving it to political BBs? … who were driven by hidden agendas that were not only profit motivated, but also partisan, political, and ideologically so.
    …not to mention the attendant incompetence and lack of professionalism.

    At the very least, a profit-motivated enterprise would NOT have killed the goose because of how the golden eggs were being divided.

    Bunch of BB jokers all….

    Just so all o’ dem know…. a day of reckoning is imminent….

    • @Bush Tea

      The political framework is embedded how governments execute not so? We need to improve how we manage ourselves.

    • IT is the not making a profit that caused the shareholders goverments to constantly shovelled money into the operation – and why eventually liat crashed

      I would leave it to the private sector and governent collect taxes

    • IMF points best way to fight inflation
      By Shawn Cumberbatch
      A senior official of the International Monetary Fund (IMF) believes the battle against high food and energy prices is not over for Barbados and other Caribbean countries.
      However, Nigel Chalk, acting director of the IMF’s Western Hemisphere Department, who flagged containing inflation as “the key policy priority” for the region this year, is cautioning against the use of “blanket measures” to fight the high cost of living.
      He is instead recommending that “policies to cushion the impact of inflation should target support to the most vulnerable, through cash transfers”.
      Chalk gave the advice in an interview with the Sunday Sun as the IMF and World Bank held their Spring Meetings in Washington DC, United States.
      “The surge in inflation and food insecurity particularly affects the most vulnerable and poorer members of society and pose a risk to social and political stability. Temporary and welltargeted transfers can cushion the cost-of-living crisis,” he advised.
      “A tighter monetary stance in countries with independent monetary policy can help contain inflation and second-round effects.”
      The economist acknowledged that inflation “hit hard most Caribbean economies through high imported food and energy prices in 2022”.
      Fiscal space
      “Countries with fiscal space have been able to cushion somewhat domestic prices from this shock through measures like price controls, energy subsidies, or income support measures. But countries with less fiscal space had to allow a fuller pass-through from world prices, subsequently experiencing high inflation that affected disproportionately the most vulnerable in society,” he stated.
      Chalk said it was, therefore, important going forward “to avoid blanket measures that, for instance, deter energy efficiency (for example, energy price cap unrelated to usage or customers’ income level) or create inefficiencies (like price controls)”.
      “Ensuring food security for the region will entail enhancing regional integration, including removing trade barriers, which will ease supply disruptions and facilitate trade. This will help better integrate the local agriculture sector with tourism,” he added.
      In addition to containing inflation this year, he said the second policy priority for Barbados and its neighbours this year “is to restore fiscal buffers”.
      “The large increases in public debt generated by natural disasters, the COVID-19 pandemic and the policy response to higher food and fuel prices call for resolute action to restore fiscal policy margins. This is particularly important in the context of tighter global financial conditions, as they make deficit financing and debt rollover more difficult and costly,” Chalk recommended.
      “Demands for social spending
      in the region are high, therefore fiscal consolidation is not easy. But policymakers will need to find savings without cutting into key social programmes or spending on health, education, and public infrastructure.”
      The IMF official also suggested that “public investment with stronger growth and employment impacts should be prioritised and lowerpriority expenditure should be scaled down to protect social programmes”.
      “To boost the credibility of the plans, medium-term fiscal frameworks should be strengthened to withstand shocks, including natural disasters,” he said.
      “Creating fiscal space for productive investment and resilience building will also require further progress on revenue administrative reforms and rationalisation of tax expenditures. Relying largely on low-cost financing would help to safeguard debt sustainability,” he added.

      Source: Nation

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