Too much jucks and wuk ups!

Wuk up and jucks left right and center!

Submitted by Observing

Now that the crop over dust has settled it is clear that we were always in the wukking and jucking season. Videos and photos all over social media shows the old, young, black, white, slim, fat, rich and poor jucking down the place and wukking up like mad.

And, as if on cue, we the people continue to bend over and tek these jucks sometimes without even looking back to see who the owner of the banana is.

We get juck down with a change to NIS. Now the big boss begging for everyone to come on board after the fact.

The BTMI CEO get juck all the way cross the ocean over to Africa. Guess he couldn’t wuk up good enough!

The NCF juck down revelers with a whopping 13 hour jump and 8 hour wait that ended in darkness and jumpers in distress. Then they put their hands up, rolled their batties and told us that it was the best Kadooment ever.

The Savvy Brother Kinch getting juck down and juck out of Bay Street. Now he has to wuk up in a renovated building to make sure it gets back to its pop down state. Watch and see, time will tell that somebody else has a Mark out on that spot for their own wuk up party.

The DLP jucking down themselves with two old goats, a wannabe and a neophyte…none of who ever really know how to wuk up.

65 influencers from overseas and many other places got to come juck and wuk up with free airfare, hotel, costume and meals.

Over at the QEH patients getting wuk up on for 2-3 days while they wait to get their much needed jucks

Local media getting juck into blindness ’cause it seems like every big story nowadays we have to hear from international media first!

Banks wukking up on clients with fees galore, impossible criteria for lending and no hope for small businesses

Nurses had to stop wuk to juck the powers that be to fix what needed to be fixed forever!

Poor Caswell. He know how to wuk up for the right cause but he doesn’t have enough to juk hard enough nowadays.

And of course, fete promoters wuk up all the way to the same banks with $300 “all inclusives” some of which were clearly NOT inclusive!

Wuk up and jucks left right and center!

As Lil Rick sang with his #1 partner by his side the other night, “I don’t give a #@$%%”

43 thoughts on “Too much jucks and wuk ups!

  1. Let ’em eat cake. For 10 long years they sat around while allowing the inept to run amok. To the blind it was obvious that the DLP was incapable of governing yet they got a 2nd term. 10 years. DLP clearly knew nothing about ECONOMICS other than the ‘fact’ that the trough had no lid. Let ’em eat cake.

  2. I was planning to watch the discussion on the NIS on CBC last night until I discovered who the participants were: The Minister (Jordan); The Deputy Chair of the NIS (Adams); The Director of the NIS (Tudor) and a fourth individual whose name I can’t recall but I think he is an actuary who worked on the proposed changes.

    Naturally I found other things to do

    Was CBC guilty of “jucking” out viewers eyes?

    • @Sargeant

      Probably was Serek Osbourne the lead actuary out of a Bahamian based company contracted by NIS.

  3. @David
    Yes, it was David Osbourne.

    How on Earth can you have a legitimate discussion on the changes when the people responsible for them made up the panel?

    CBC was really blowing smoke up peoples butt or they don’t give a $%#@.

    • The objective was more a public service exercise, to socialize proposed changes. We have been seeing similar activity in the press and government portals.

    • One can view it as informational. Yes. It would have been more useful to have otter commenters to interrogate the information and the inference deduced from that information.

  4. David

    Warned me? The current government has moved swiftly to address the issue. I don’t think they could have 2008-2018 or at the height of covid. Niw the BU egotelligentsia ain’t got an alternative just a lotta blustet as usual. I see your pal Kinch making headlines again.🤣

  5. Read where the government want to ‘invest’ in a parking lot
    Did I get that right?

    The truth is I don’t read much of the stuff I see written here or elsewhere…. I am like a fly flitting from pile to pile. I try not to eat or inhale.

    • She was on other threads a little while ago. Said she had COVID but was still kicking.

  6. Yolande Grant – African Online Publishing Copyright (c) 2023. All Rights Reserved. August 15, 2023. @ 3:29 AM

    If the lawyers in Barbados who clearly see what is happening, know it has always been human rights violating and have the training to do something to help the people out of this stinking 100 year old Muttley criminal agenda but dont have the ethics to act, NO ONE off island should ever employ them again and the people in Barbados should stop using them for legal services permanently, you have other options, spread the word…..they can end this…if they wanted and if they don’t, they are COMPLICIT in the destruction of the people on the island..

  7. RE: “Too much jucks and wuk ups!,”

    When I saw the title of this thread, I immediately thought of the author.
    Chose at first not read it, because I anticipated the content.
    But, decided to do so, after seeing in the ‘margin,’ Donna posted a comment

    Wasn’t surprised.

    RE: “The NCF juck down revelers with a whopping 13 hour jump and 8 hour wait that ended in darkness and jumpers in distress. Then they put their hands up, rolled their batties and told us that it was the best Kadooment ever.”

    In all FAIRNESS, this is an EXAGGERATION of the truth.

    WHEN were Barbadians told this “was the BEST Kadooment ever?”

    Based on what I read, the NCF gave reasonable explanations for the delays, some of which were beyond their control.

    For example, we all know there was a heavy downpour of rain when bands were about to ‘juk and wuk up’ along the route.
    And, I’m sure the author of the article would not have hesitated to describe NCF as unconscionable, if bands were allowed to ‘juk and wuk up’ through the rain.

    Some band leaders refused to proceed, preferring instead to wait until members who were late arrived, so they could all ‘juk and wuk up’ together.

    There was also an issue with a truck accompanying a band that broke down on the route, which presented difficulties for bands following to ‘juk and wuk up’ past it.

    But, what about the other Crop Over events, such as Soca on The Hill, Tipsy, Junior Calypso Monarch, Pic-O-De Crop Calypso Finals, Junior Kadooment that were well organised?

    Yes, there were challenges with Kadooment, but that does not mean Crop Over or Kadooment wasn’t successful.

    • @Artax

      Why the logistical challenges, revellers have jumped in the rain on previous Kadooment Days.

      If a truck broke down why were the others behind unable to pass through?

      Why was there a need for an entourage of 20+ coaches carrying influencers from overseas sandwiched between the bands?

      Why was a decision not taken at a reasonable time when NCF management should have realized time was running out to get to final destination before dark? It was forced anyway because of the gunplay.

      If bandleaders didn’t want to move why not let them suffer the consequences of their decision?

      Say what you will the management of Crop Over must up its game.

  8. @Artax
    Not surprised either, but….

    Feel free to point out any other Kadooment Day EVER since inception that had the nightmare logistics, lack of communication and end result that we witnessed last week. Rain, sun or hail.

    The season was awesome. The jump up was a mess. The declaration of a successful Kadooment was in the paper the next day. Feedback on social media said otherwise. The anticipated walk back and admittance of some hiccups are only now coming out.

    Don’t shoot the messenger. And by the way a “rain jump” is the sweetest jump and Bajan roads can actually have two vehicles pass by each other at the same time.

    Just observing

    • I’m happy you’re not surprised either, because, in MY opinion your CREDIBILITY is QUESTIONABLE.

      During a previous election season, you came to this forum saying you’re going to critique the manifestos of both mainstream political parties.
      You provided a critique of ONE, while claiming you were waiting on the other party to present theirs.
      Almost three years after the elections……?????

      I AGREED there were challenges, but, ‘feel free to’ ‘tell’ the forum, WHEN or WHO told Barbadians that this “was the best Kadooment ever?”

      There are also comments on social media INDICATING the OPPOSITE of what you have presented to BU.

      I’ll bet you will dismiss as rubbish, social media comments saying David Estwick will win the DLP’s presidential election.

      Social media gives everyone an opportunity to talk shiite, without being challenged, which people readily believe without verifying the accuracy of the comments and credibility of the source, since the information satisfies their particular agenda.
      Hence, the term ‘confirmation bias.’

      The hypocrisy on BU is amazing.

      David et al would attack Enuff or Lorenzo for their particular biases……

      …… but are willing to DEFEND and GIVE YOU a ‘FREE PASS.’

  9. “The anticipated walk back and admittance of some hiccups are only now coming out.”

    How were preliminary talk of Kadooment being successful were measured?
    Does it mean that, despite “some hiccups,” the NCF was able to ACHIEVE at least above 50% of their objectives for the day?

    Whether Kadooment was successful or not, CANNOT be determined IMMEDIATELY AFTER the event.

    There must be an assessment of the event, followed by collaborative discussions between the organizers stakeholders, participants, security and emergency personnel including Police, BDF, Fire and Ambulance Services, to determine the challenges encountered etc……

    …… which OBVIOUSLY could not be held IMMEDIATELY AFTER the people ‘juk and wuk up.’

    It is UNREASONABLE for anyone to suggest that acknowledging challenges were encountered AFTER an ASSESSMENT of the event was made, could be an “anticipated walk back and admittance of some hiccups are only now coming out.”

    Anyhow, these are MY THOUGHTS and OPINIONS.

    ‘Here endeth the lesson.’

    • It would be a shame if the jump is returned to jumping on the ABC Highway but it is obvious authorities and band security are unable to maintain good order on the Black Rock route.


      Old route ‘a danger zone’

      Call to take Kadoo back to ABC Highway

      A CALL IS BEING made for the National Cultural Foundation to, at least in the short term, move Grand Kadooment away from the old route that created a myriad of problems last week and instead return to the experimental route used in 2022 along the ABC Highway after the height of the COVID-19 pandemic.
      Past president of the Barbados Association of Masqueraders (BAM) and veteran bandleader Roger Millar is also calling for the Government to legislate crowd control, making it against the law for anyone to illegally enter a band and interfere with revellers on Kadooment Day.
      That legislation should be built within a framework of heavy monetary fines for lawbreakers.
      In an interview with the MIDWEEK NATION yesterday, Millar, who was president from 2007 to 2013, said the old route, which runs from Warrens to near the National Stadium in Waterford, St Michael, and travels along Bank Hall, Black Rock, and onto the Mighty Grynner Highway (formerly Spring Garden), has been proven to create too many crowdcontrol problems. “The reality is that that old route is not conducive to a safe jump on
      Grand Kadooment,” Millar said.
      “There have always been hotspots where things can occur. We all know how many side roads there are along Black Rock and Bank Hall, where people can interfere with the bands or even create problems and make good their escape.”
      During last week’s Kadooment, a shooting along Black Rock forced organisers to shift the route, sending the final few trucks along Eagle Hall and onto President Kennedy Drive, finishing at the Mighty Grynner Highway. In 2017, six people were shot along Spring Garden on Kadooment Day in near darkness as Crop Over climaxed on its bloodiest day.
      Millar noted that when the jump was brought last year to Warrens, St Michael, and headed south along the ABC Highway, there were no such issues with
      violence or logistics.
      “Last year was really the best jump-up we had in a while. The ABC Highway proved to be a sterile environment, and the bands did not even need ropes,” he added, noting that the Barbados Police Service also reported it was much easier to police Grand Kadooment in 2022.
      According to Millar, if Barbados wants to boast that Crop Over is an international festival aimed at also attracting visitors to the country, then an international standard is paramount and the security of revellers should be placed on the front burner.
      “It should be against the law for any person on Kadooment Day to go into a band unauthoriesed,” he said.
      Legislation needed
      “We need legislation for people to understand that. There are people paying from around $800 up to $2 000 as individuals in bands. They are the ones spending the money, and they are the ones that need to be protected. If we want to attract international participation, then we need to have international standards,” the former bandleader stressed.
      Millar also suggested that though a hospital was being constructed along the ABC Highway and that could change logistics in the future, consideration should still be given to using the route introduced last year.
      “We had a situation where the jersey bars were in the middle (of the highway), so we could have a set-up where people who live in the area could set up businesses free of charge and other small business people could pay the NCF to have their stalls on the other side of the highway,” Millar suggested.
      He noted that spectators on both sides of the highway would have way more room to see the bands than on the old route from Waterford to the Mighty Grynner Highway.

      Source: Nation

  10. So where is this weight the pretend elites are supposed to be punching above while begging handouts for housing…with BILLIONS of dollars still missing…begging, borrowing, depending.broke elite wannabes..

    ““You have 18 000 NHC applicants and you have 25 000 derelict and vacant lots, so why leave them? That process [to create the company] has started . . . . We have received $700 000 from the IDB [Inter-American Development Bank] as a grant to assist us with the technical studies for that project.

    Sutherland promised to make a further announcement to give more details on that project in a few months.”

  11. Want to see the pretend eites. jump out with their lying, deceitful traitor mouths misleading the people again, they have no control over anything except ignorant slaves/supporters who know nothing worthwhile, never will, ..and whatever they setup amongst themselves to tief…while destroying the people and isand, they know they will never have full control and STILL LYING……it came as absolutely no surprise..when that reality presented itself as weeee felt all along…IMPOSTORS…for politicians.

  12. Ironically, last year some band leaders and members complained that the new route was too long and hot, while suggesting a return to the old route.

    “This route sucks. There is no atmosphere. Give us the ORIGINAL ROUTE,” shouted one woman from one of the bands as it moved on towards the Botanical Gardens.

    It is impossible to please everyone. There hasn’t been a year that people fid not complain about something.

    Another fact not taken into consideration is there was an increase in the number of bands this year.

    Anyone familiar with St. Vincent knows Kingstown is very small.
    Yet, during ‘Vincy Mas,’ the bands parade through front and back streets, and, despite a few ‘hiccups’ or acts of lawlessness, everyone has a good time.

  13. The interlocking of directorships designed to keep some people out of the boardrooms, has now invaded the operation/ management of state enterprises.
    A perusal of recent appointments and elevations, can easily be traced to political pedigree and corporate unions and associations.
    The answers are all before and around us.

    • NCF, BAM hash out Crop Over issues

      The National Cultural Foundation (NCF), Barbados Association of Masqueraders (BAM) and independent bandleaders say they have agreed on a way forward for Crop Over after five hours of talks yesterday to thrash out their differences.
      In an interview with the Weekend Nation earlier this week, NCF chief executive officer (CEO) Carol Roberts had expressed her disappointment over comments made by BAM head Jason Thompson that the association felt sidelined and wanted to be a part of the Grand Kadooment decision-making.
      She denied the foundation did not have timely consultations with stakeholders on events such as Grand Kadooment, and also defended their track record and collaboration with groups such as BAM.
      “I do not know of any major decision in which BAM was not involved. It would make no sense to produce the event, relative to masquerading, and not involve BAM. Decision-making does not happen in a vacuum.
      “However, decision-making comes with other areas of responsibility. That raises the question of greater investment, responsibility, greater acceptance of risk, and sharing of risk and greater liability. But I would welcome a discussion, with BAM or any association, that wants to work with the foundation and share in the risk, liability and by extension, the spoils,” Roberts had said ahead of yesterday’s meeting.
      “We will take our licks, regroup and come back out swinging and better because that is the only way I know how to execute, but you strain the relationship when you seek to go to the media with your side without giving full context,” the CEO added, while giving a rundown of all the meetings the NCF held with various stakeholders, including BAM, to get feedback and suggestions.
      However, after yesterday’s coming-together at the NCF’s West Terrace, St James headquarters, the parties appear to be seeing eye to eye on the way forward for the festival, in particular Grand Kadooment.
      In a release, the NCF stated that several key aspects were discussed.
      These included the logistics and set-up of 2023
      Junior Kadooment and Grand Kadooment; security arrangements and policing of bands; sunset legislation in 2024; greater prominence of local music played by music trucks on the route on Kadooment Day; identifying the cause of the growth in registered masqueraders this year with a view of sustaining and increasing those numbers next year; and analysing and catering to the steadily increasing international audience patronising Grand Kadooment.
      Approval process
      Roberts, who chaired the meeting, stated: “The NCF is very pleased with the outcome of its initial meeting with the bandleaders today. I have every confidence that together we can address the issues arising this year and move apace to crafting an improved event for all categories of participant next year. Indeed, we have met this week with other stakeholder groups in order to complete the planning and approval processes and launch Crop Over 2024 as early as reasonably possible.”
      She stressed the need “for all dialogue and recommendations to be conducted in a spirit of goodwill, with the primary focus being the wellbeing and sustainability of this festival of ours”.
      Thompson said they were pleased with the outcome of the meeting.
      “BAM had the opportunity to express many of the grievances of its members with the NCF surrounding the logistical and communication issues surrounding Crop Over 2023. We feel assured that continuous meetings of this nature will result in creating memorable experiences for all stakeholders within the Sweetest Summer Festival,” he said in the release.
      Award-winning bandleader Kevin Small, who also took part in the meeting, added: “I am extremely satisfied with the way in which the meeting was conducted. We were all given a chance to speak frankly about the issues that affected us at Junior Kadooment and on Grand Kadooment Day. . . . Therefore, after an extensive post-mortem and clear lines of communication, established by the NCF, I am committed to doing my part in assisting in the fair and transparent planning of masquerade for Crop Over 2024.”
      It is understood that post-mortem meetings were held this week with the Barbados Association of Creatives and Artistes, the six tent managers, the Entertainers Association of Barbados and Barbados Association of Event Professionals.
      Today there will be a meeting with the Foreday Morning collective headed by Bryan Worrell, and in the coming week with Bridgetown Market vendors and other stakeholders.

      Source: Nation

    • Stamp out the vulgar mas

      Was it a case of cultural exuberance, a chance to feel free of the inhibitions and challenges of daily life, or was it raw vulgarity that had nothing to do with “we culture”?
      Barbadians, with the spectacle of the dazzling costumes and the show-stopping and waist-wriggling music during the 2023 Crop Over Festival on their minds, have a key question to answer: did some women, egged on by men, go too far in their efforts to display love of music and freedom from life’s serious challenges while laughingly gyrating on young boys during Kadooment?
      It’s a mix of both. First, those who say “no”, albeit a minority.
      As they saw it, the actions were a reflection of the festival’s mood fuelled by the Caribbean’s ethno-musical tradition. That’s why, they argue, people must be given a “break to do their thing”. After all, Barbados’ spectacular Crop Over festivities, somewhat similar to what takes place during Carnival in Trinidad and Tobago or Goombay in The Bahamas, are an indispensable part of Caribbean social livelihood and should be viewed as a major social process of soul-purging for the people. It’s a time when the lighter side of life takes over, when the harsh truths of daily social existence are altered for a while, wrote Canon Reverend Kortright Davis, a Caribbean theologian in Washington, about 25 years ago.
      ‘Liberating influence’ “Carnival parades ( Crop Over included) provide a liberating influence for the people; life is energised to a high crescendo; spiritual rebirth is realised if only for a moment; and different ‘personae’ emerge behind the masquerades and festival costumes,” asserted Canon Davis in his treatise, Emancipation Still Comin’.
      That’s not to suggest he endorsed what happened recently with adults and children during Crop Over.
      Many who saw the offensive scenes live or watched them on social media specifically labelled the actions of children and adults a couple weeks ago “inappropriate” and extremely vulgar. We wholeheartedly agree.
      “I am shocked by the videos circulating now worldwide, depicting the extremely lewd and vulgar images of our children performing on the road with adults,” complained Faith Marshall-Harris, a United Nations child rights expert. “Call me an old-fashioned prude, but I will maintain that this is not the way to go.”
      Colin St Hill, deputy director of the Child Care Board, was quite rightly appalled. “We need to have adults who
      would be more responsible in their actions,” he stated.
      Felicia Dujon, a child rights advocate, was equally sharp and to the point. “People may think that because it is Kadooment anything goes but in the case of minors, it does not matter what time of the day or what festival it is that is taking place,” she said.
      Thank goodness for their responsible reaction and the tone that underscored the gravity of the offence.
      It was reprehensible conduct and the police should have found legal avenues to bring charges against the adults involved, not the children.
      There are steps we should consider to take to guard against a repeat of such behaviour:
      • Heighten our surveillance of the environment to stamp it out at Crop Over and other cultural events by discouraging adults from engaging in such acts with children.
      • Teach youngsters about what is appropriate and what’s not.
      • Review our laws so we can hold adults, including parents, accountable before the courts for children’s behaviour. A possible offence: contributing to the debasing of our children’s morals.
      • Enlist the support of musicians, especially lyricists, so they reach parents, guardians and children with messages that underscore acceptable behaviour and reject vulgarity.
      • Counsel designers about the skimpiness of their costumes and attire, which leave little to the imagination of the public.
      We can take action without dampening people’s enthusiasm and expressions of our cultural heritage. In essence, we shouldn’t throw out the baby with the proverbial bathwater.

      Source: Nation

  14. @ARtax
    Love ya bad.
    Re. the NCF I concede “they” never said the best ever, BUT, “they” did say Kadooment was a success, which is FALSE. One official said it was the best ever, she was dead wrong.

    Yes, it can be called a success if you take a few photos and consider the 8 or so bands that actually had a good time and made it to Spring Garden before 5:00 pm, but when you consider everything else that SHOULD have been mitigated with proper planning and on the spot decision making, better can be done.

    FACT: Crop Over was fantastic. Kadooment day was a mess.

    Now, there is a difference between credible and biased. I am always credible but can on rare occasions be biased AS WE ALL ARE AND DO. Don’t kill me for OUR human nature

    Your constant call for a critique of the DLP’s manifesto from years ago falls moot given the 30-0 result twice.
    So, here’s my critique… “The entire DLP manifesto was a waste of time and paper before and after the fact.” Hope that brings closure and brings us closer together.

    The real reality is that those who are in power are those who should be held to account. Those who seek power are those who should be forced to show/prove their mettle and then IF they get power WHEN they fall short MUST be called to account at EVERY turn.

    Our constant giving of free passes to our politicians since Independence is our albatross. Hence our current dilemma with our socio-political environment and our organizational body politic.

    Also, criticism of one group does not infer acquiescence to the other. ALL should be called out if needed.

    Thank God for David and BU that some of US can come and get things off their chest without the cost of a counselor, psychologist or a job! I trust you will continue to do the same and advance the thought process thorugh robust discussion debate AND definite disagreements.

    As I start so shall I end. Uh love ya bad!

    Will the real leaders please stand up???

    Just Observing

    • Read your contribution and felt I should clarify a few things.

      RE: “FACT: Crop Over was fantastic. Kadooment day was a mess.”

      EVIDENCE, please.

      RE: “Your constant call for a critique of the DLP’s manifesto from years ago falls moot given the 30-0 result twice.”

      You are PURPOSELY MISLEADING the forum.

      I NEVER ‘constantly called for you to critique the DLP’s manifesto.’

      INSTEAD, I CONSTANTLY REMINDED you that you DID NOT, after PROMISING to do so, WHEN the document was released.

      RE: “The real reality is that those who are in power are those who should be held to account.”

      I AGREE with you 💯%.

      Remember, the DEMs ‘WERE IN POWER,’ at the time you critiqued the BLP’s manifesto.
      Hence, the reason why I asked that you, in the INTEREST of REASONABLE FAIRNESS and BALANCE, should also review the DLP’s.

      When REMINDED, you PRESENTED ‘all TYPES of EXCUSES’ for NOT fulfilling your promise….. until you eventually ‘remained silent.’
      By doing do, and to NOW ACKNOWLEDGE “that those who are in power are those who should be held to account,” you’re being HYPOCRITICAL.

      Remember, BU has an archive, which people often refer to as a credible resource, only when it suits their particular purpose……
      …… but, ‘digging up garbage,’ when it does not.

      RE: “Now, there is a difference between credible and biased. I am always credible but can on rare occasions be biased AS WE ALL ARE AND DO. Don’t kill me for OUR human nature.”

      Yes, “there is a difference between credible and biased.”
      Rather than making ‘sly innuendoes,’ with references such as in your above comment, I’ll be up front, to ‘say,’ assuming you are a man, then, that’s the only difference between you and AC

  15. Tired of seeing women twerking.
    Tired of seeing men sucking up.
    Tired of this grand advertising for sex tourism and child abuse. A pervert’s delight.
    Culture, my ass

  16. @Artax

    “Evidence please”
    Your calls for evidence doesn’t change what happened and didn’t happen. You would have had to be there. You would have had to been accustomed to years past. Not sure if you are in that category but have a chat with those who have.

    Opinions and fact
    I dread the day when BU refuses opinions and only posts “evidence based facts.” I think you do too.

    Credibility and bias
    Slyness is used when there’s a point to prove. Thankfully I have none. The point remains, we all have our biases, including you. The ability to share them without rancour is what makes us us.

    “…you presented all types of excuses…”
    Where’s the evidence?

    re. DLP/BLP manifesto critique
    If you mine the archive find my critique of the BLP’s manifesto while and when the DLP was in power I will eat humble pie and admit that you are right, Never too big to do so and never about winning and losing an argument in my world. I admit that there was a point in the past when I was “blue” eyed and bushy tailed so anything is possible even though I don’t recall! But yes, when those in power deserve “licks”, they should get it else we end up with the arrogant ignorant bunch we got rid of in 2018.

    As always a good exchange, albeit for divergent purposes at points. Looking forward to continued robust debate and exchange of thoughts with you. That’s why we are here.

    Male, female or in between…much love!!!!

    Just observing

    • A response lacking foundation
      In an article entitled Ridiculous Remedy, in another section of the media last week, Avinash Persaud, Special Envoy to Prime Minister Mia Amor Mottley on investment and financial services, dismisses calls for the Mottley administration to repay the National Insurance Scheme (NIS) $1.3 billion written off in the debt restructuring exercise undertaken in 2018.
      He advances that repaying the money would be like reversing the debt restructuring and place the value of the Barbados dollar at risk. Persaud also contends that the move will put the national debt back at 178 per cent of gross domestic product. Further, he warns that the move will threaten the living standards of Barbadians and place the social security assets in a much worse position.
      Such assertions by Persaud are without foundation and can be challenged on a number of grounds. First, he seems to be making the implicit suggestion that people are calling for the funds to be repaid via a single payment. No one suggests that should be the case. Indeed, what is required is a realistic repayment plan. This was acknowledged by economist Carlos Forte who suggested that the funds could be repaid over a 30 to 40-year period.
      Repaying the principal of the NIS debt over a 35-year period using the straight line method would require an annual payment of $37.14 million. With sustained growth in the economy led by the foreign exchange generating sectors, moderation in the appetite for borrowing to maintain future debt service obligations at manageable levels, and efficiency in the use of public funds, the annual payment to the NIS will be within the reach of future governments.
      Second, bringing the liability of $1.3 billion back onto the books of Government will not return the debt to gross domestic product (GDP) ratio to 178 per cent as claimed by Persaud. The International Monetary Fund estimate for Barbados’ national debt, based on information attributed to the Ministry of Finance, was $14.6 billion at the end of March 2023. The figure increased by $122.9 million during the subsequent three months, reaching $14.72 billion on June 30. The addition of $1.3 billion will take the national debt to $16.02 billion.
      With the size of the economy in nominal terms around $12. 2 billion, the debt to GDP ratio with the $1.3 billion included will be 132 per cent, well below the figure of 178 per cent. Indeed, given the size of the economy, the debt will have to reach $21.72 billion, an increase of $7 billion over its current level, to yield a debt to GDP ratio of 178 per cent.
      Third, the assertion that if the Government commits to repaying the NIS $1.3 billion will put the value of the Barbados dollar at risk is unfortunate and should be considered a “red herring”. People expounding on the state of the Barbados economy, including the Governor of the Central Bank, Dr
      Kevin Greenidge, and Persaud himself, promote the news that the economy is experiencing strong growth (in nominal terms) which is expected to continue, the stock of foreign reserves is extremely healthy at BDS$3.1 billion, the capacity to service both internal and external debt is solid, there is fiscal discipline imposed by the second International Monetary Fundsupported Barbados Economic Recovery and Transformation (BERT) programme, there is relatively easy access to foreign loans, and the domestic financial system is strong.
      International Finance 101 is explicit that the economic conditions driving currency devaluation include low levels of foreign reserves, limited foreign exchange generating capacity, difficulty in meeting foreign debt payment obligations (economy in a debt trap situation), sluggish economic performance with weak export competitiveness, and fiscal indiscipline exemplified by unsustainable fiscal deficits.
      Given that established theory and practical evidence about the state of the Barbadian economy indicate that there is no threat to the value of the Barbadian dollar, Persaud’s assertion that repaying the money will erode the living standards of Barbadians and place the social security assets in a much worse position should be dismissed.
      To the contrary, recapitalising the NIS will be beneficial in important ways. First, it gives the NIS a source of investment funds. Once these funds are placed in good performing investment vehicles, the assets of the NIS will be enhanced. Second, the repayment of the NIS debt expands the pool of funds from which timely payments can be made to eligible beneficiaries. Third, repayment of the NIS debt reduces the need for the government to implement reform measures that can have deleterious effects on the workers, society, and economy.
      I am also of the view that other receivables of the NIS written off, including arrears in contributions owed by private and public institutions and the loan to the ill-fated Four Seasons project, should also be repaid.
      – Anthony Wood is a senior economist, and former lecturer at the University of the West Indies, Cave Hill Campus. He is also a former Cabinet Minister in a previous Barbados Labour Party administration.

      Source: Nation

  17. These economics matters are outside of my bailiwick. However, when it comes to name calling “I dey”. Translation ‘I am there’.

    Can I persuade you to use the word Perfraud or even Perfruade (if you are worried about being sued).

    • Some clarification on Sir Errol’s letter about the NIS
      I write in response to a letter by Sir Errol Walrond with the headline Fund Should Be Beyond The Ministry, which appeared in the Nation on Tuesday, August 29.
      I wish to express the National Insurance Scheme’s (NIS) appreciation to Sir Errol for his contribution on the revitalisation of the NIS.
      Before delving into Sir Errol’s aspirations for the NIS, I wish to clarify certain points in his letter.
      • The actuarial reviews have consistently warned of the ageing demographic and poor economic trends pushing social security expenditure ahead of income and, with that, the prospect of the National Insurance Fund depletion. This is particularly noticeable from the 15th actuarial review covering the period 2012-2014, which noted two key points (i) that the number of NIS contributions in 2014 declined sharply to its lowest level since 1998, and (ii) that the total National Insurance Fund (NIF) expenditure surpassed contribution income in 2014 for the first time since 1997.
      • Further, when the 17th actuarial review was received in 2022, it became clear that corrective measures had to be taken to sustain and revitalise the fund beyond 2041.
      • Since 2004, the number of contributors has significantly decreased. In 2004, there were 5.1 contributors per pensioners; by 2021 it was 2.2 contributors per pensioners. This contraction of contributors is the primary force by far, driving the need to revitalise the NIF. This trend accounts for the bulk of the $1 billion deficit forecast in the 17th actuarial review by the early 2040s in the absence of corrective action.
      • Turning to investments, the investment policy statement guides the NIS investment process. For example, NIS investments in any instruments are first considered and analysed by the Investment Unit, and presented to the NIS Investment Committee for consideration and approval. The recommendations of the Investment Committee are then submitted to the full board for final approval.
      • Prior to the recent permission from the Central Bank to acquire US$40 million annually for the purposes of diversifying its portfolio, the NIS was, to a very significant degree, limited to investing in Barbados. As a result, at the time of the 15th review, 95 per cent of its funds were in local investments.
      • Today, the fund has approximately 81 per cent of its investments in Barbados. These are in a variety of asset classes such as public and private bonds, real estate, and equities.
      • The permission granted by the Central Bank of Barbados referred to above will create room for more diversification.
      This diversification, both in country and currency, inherently creates more independence for the Investment Committee of the NIS by allowing a far greater choice of investment opportunities.
      Further, it should be noted that the new National Insurance And Social Security (Amendment) Bill 2023 has several noteworthy changes. These include, as noted by Sir Errol, the qualifications for NIS board members.
      In addition, the new act gives the board the mandate to develop a funding policy. The Revitalisation Report identifies the framework for this funding policy. It outlines the funding principles and targets as well as the compulsory adjustment mechanisms.
      The funding policy, when developed, will seek to maintain the system’s sustainability and efficiency and provide a clear trajectory for the fund’s stability and obviate the need for drastic reforms in the future.

      – Kim Tudor Director, National Insurance Scheme

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