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Submitted by Observing

There was an old lady who lived in a shoe with six hungry children and a light bill for the month so she didn’t know what to do. She went to the bank for a loan, but they said no, “we can’t lend to you.”

A few months later the bank had an opportunity with the Internal Mock Fund (IMF) to receive a 10 million dollar grant, as long as they showed that they helped one vulnerable person. When the old lady tried again, the bank said YES! but only as long as you can show that you used the money to build the capacity to feed your children and pay at least one month’s utilities.

The lady took the money and bought a stove. She then bought a set of pots and pans. She bought a refrigerator. Since the bank managers were coming over to inspect, she spent the rest of the money on 2 bottles of wine, a welcome mat and some balloons.

When the bank managers came they checked off their boxes.

Was the old lady vulnerable? – check
Was money disbursed? – check
Was a new stove bought? – check
Was a new fridge bought? – check
Are the appliances working well? – check
Are there utensils in place? – check
Were utilities paid for the month? – check
Is the old lady happy? – check
Were the managers entertained? – check
Did the children eat? – No

They all smiled. After all, meeting 9 out of 10 goals represented an absolute success!

The bank managers drank the wine said farewell and left a 40 year loan agreement with the old lady. Off they went to the Internal Mock Fund to report that all was well and that the vulnerable were well taken care of. In other words 90% of requirements were met. They then collected their grant and reinvested it to the benefit and joy of their stockholders while publishing a glossy end of year annual report.

Later that night the children asked the old lady “What’s for dinner”

She said, I didn’t have enough left to cook a big meal, so we will just use some noodles flavoured with beef sauce instead. We will have to worry about tomorrow when it comes. Oh, and by the way, the doctor said I might die soon, so here is this loan agreement for you to take care of and don’t forget that next month’s light bill should arrive soon. Night night, sleep tight.

And they all lived happily ever after.

The end.


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74 responses to “Mama’s legacy on track”

  1. William Skinner Avatar
    William Skinner

    All of this nonsense has to do with many of us being incapable of understanding what a national crisis or natural disaster means. it should really mean that we circle the wagon and put Barbados first. We can all return to the political back and forth after the National/natural disaster has been overcome. We recall that at the the peak of COVID, on this very BU , a die -hard Bee, was apparently shocked that we made it clear , that we would be supporting the administration’s efforts in combatting the virus.
    We saw(Nation today) a little Black child in his father’s arms lamenting over the destruction of their boat that costs $300,000. We also saw a Black man (Nation today) losing three boats valued at $500,000. Those are just two of us, losing $800,000.-just so. No bad business; no drinking it/womanising it out. Just an act of nature . Now tell us: What the hell that got to do with Mottley and “big works” ?
    What the hell that got to do with Thorne and the crap at George Street?
    But, we realise after the sickening David Rudder comments , that we are heading or at a place that is now absent of anything near humility. We lose our humility first and then quickly after that our humanity. And Mottley , Thorne or anybody else ain’t got a frig to do with that. That’s a personal choice .
    We wish the administration well as it deals with the aftermath of Beryl and hope that the next weather system, that is coming so soon after it, does not cause any damage to our country and its people.


  2. Today I am going to sacrifice a chicken to our African gods, first and foremost our beloved goddess Bim. They have once again saved us from hardship and diverted the damage to the Pepper Islands.

    Our faith must be strong and firm. Just like my faith in our Supreme Leader.

    Tron


  3. @Skinner
    Well said. I suspect though that humanity, humility and honesty were long sacrificed on various altars and slowly replaced by partisanship, pettiness and personal ambition.

    Like you I wish those who were affected speedy recovery and I continue to pray that the country never in my lifetime at least has to experience a serious direct hit from a hurricane first hand. The reality is we lack what’s needed to face it, withstand it and then come together as one to recover from it.


  4. Yes, I understand the significance of a cat. 4 hurricane. It is for those in power to ask themselves if they made the minimum effort to mitigate and plan for the annual hurricane season. These small boats should have been housed inland to shelter them from such weather. Too bad that such projects are not what we would term vanity projects such as the The Oval cricket ground.

    Barbados is a poor and indebted country. It should always prioritise expenditure in a meaningful fashion. Mia who is both our Prime Minister and Finance Minister did not fix the roof when the sun was shining. She misspent the money – period!


  5. The first day of the hurricane season and Lord have mercy there goes our local fishing industry. Is there a plan B in place?


  6. Brace yourself people. It looks like we are witnessing a potential disaster for the Caribbean basin. This hurricane season may culminate in the total destruction of this sun-kissed region.


  7. Global Warming is a thing

    Greta Thunberg is probably the most popular Swede

    Hurricane Beryl: ‘Perfect conditions’ for early arrival

    01 July 2024

    Dr Helen Hooker, hurricane expert at the University of Reading, said: “It’s not a surprise to see Beryl become the earliest ever recorded category 4 hurricane, and the first in June. Our oceans absorb the extra heat trapped in our atmosphere due to global warming and have recorded record temperatures for over a year. Climate change and El Nino have warmed the tropical Atlantic by 3 to 4 Celsius, creating perfect conditions for early and rapid intensification of hurricanes. Beryl strengthened incredibly quickly from a tropical depression in just 48 hours. We might occasionally see this in October, but never before so early in the hurricane season. This is likely to be a long and active hurricane season with a 60% chance of hurricane Debby forming in the next 7 days.


  8. There are several reasons why we should criticise PM Mia Mottley. Yet, some of us prefer to ‘descend into the depths of absurdity’ to do so. The jabs at her scarves immediately come to mind.

    Barbados’ disaster preparedness dates back to the 1940s when the Organisation for Hurricane Relief was formed…… and CERO sometime during the 1970s.
    The Department of Emergency Management was subsequently established and provides enough evidence that MAXIUM efforts have always been made ‘to mitigate and plan for the annual hurricane season.’

    DEM is charged with the ‘responsibility to respond to other emergencies such as flooding and landslides, as well as man-made disasters such as oil spills, industrial fires, aircraft crashes and large-scale public service vehicle accidents.’
    Additionally, a National Emergency Management System was developed to co-ordinate the various stakeholders and activities in the unfortunate event of a disaster.

    Perhaps we may want to peruse DEM’s website for more information.

    In my opinion, CERO/DEM has served Barbados and Barbadians over the years. The stakeholders went into action from the time tropical storm warning were issued until the ‘all clear’ was given sometime after mid-day on Monday.

    Unfortunately, some of us prefer to talk shiite, rather than give kudos to all those involved in the disaster management process, the successes of which politicians use as an opportunity for political grandstanding.


  9. **** MAXIMUM……

  10. William Skinner Avatar
    William Skinner

    @ Observing
    There is a kind of crudeness that has invaded our country. Unfortunately, we seem incapable of understanding that once it permeates all sectors, we would become a very difficult country to manage. It’s up to us to decide what kind of country we want.
    We will never be a part of playing politics when millions of dollars are now sitting on rocks or at the bottom of the sea. And hundreds of fisherfolk may not be able to put food on their tables to feed their families through no fault of their own.
    There is a time for everything but ………


  11. @Artax

    The blogmaster thrives on criticism and stands behind the opinion piece posted.



  12. @Artax

    Mottley defined ‘maximum leader,. She puts herself out there in a way that is difficult to ignore. If she wants the kudos, she has to be prepared to take the flack.


  13. PMs / Leaders are judged for their responses to National Emergencies and Disasters. It seems that the political opposition are vultures circling the skies ready to launch an attack.


  14. I hear you William. However, I will stick to my metaphor of fixing the roof. God forbid anyone or anything that lies in the pathway of a hurricane. I believe that those small island economies should always be prudent with how they spend taxpayer’s money. Building structures on beachland is absurd. Will these hotels be willing to accommodate the soon to be hundreds of hurricane victims needing refuge.

    How will the nation be fed now that we are experiencing severe hurricanes. Barbados should have set up an industry to preserve our domestic food stock. We should have the ability to bottle, salt and tin such produce.

    With the country attached to the tourist industry. How will the hotels be able to pay their workers?


  15. Ego, envy, obsolescence, inferiority complex and deep seated hatred = many on BU. Some of the things I see posted here. Wow, just wow.


  16. You guys may be in for the long haul. Europe has experienced, this year, the worse natural disasters that I can remember during my long life. It looks like 2024 is the year that the Caribbean will probably take the most severest beating ever.

    https://www.aljazeera.com/news/2024/7/2/how-dangerous-is-hurricane-beryl


  17. Ralph Gonsalves is being interviewed on Aljazeera.

  18. William Skinner Avatar
    William Skinner

    @ TLSN
    We hold no great admiration for how the country or indeed the Caribbean is being managed. We , like you , are quite aware, that there is more than enough blame to go around for what transpires , in all sectors of the economy and we have been relentless , in blaming both administrations.
    However, when there is a disaster, we should concentrate in using whatever resources and talent we have to get the country at least back to some semblance of normalcy . We can then get back to blaming and suggesting ideas and so on. In this current situation, we note that another system is expected to affect our country within twenty four hours. We have to hope its not a double whammy.


  19. Kiki…
    “PMs / Leaders are judged for their responses to National Emergencies and Disasters.
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Really?!!

    FOLLOWERS are judged by ‘responses’.
    Leaders are judged by their VISION, PROACTIVITY and WISDOM….

    Good leaders must therefore be those who are called to respond to VERY FEW ‘National emergencies and Disasters’….

    @ Enuff
    “Ego, envy, obsolescence, inferiority complex and deep seated hatred = many on BU.”
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Indeed!
    But check that you are not using your selfie camera…
    Good leaders learn to LISTEN to all sides and to all versions with an open mind so as to best serve the collective interests….

    Opposite views do NOT = hatred….


  20. “FOLLOWERS are judged by ‘responses’.
    Leaders are judged by their VISION, PROACTIVITY and WISDOM….”

    nitpicking is your middle name Bush Nitpicking Man

    you should sacrifice your first born son to appease the deity or deities who will destroy civilization as an act of divine retribution.


  21. @ Kiki

    🙂

    Bush (NP) Man


  22. We shouldn’t get distracted.

    IMF: Debt still sustainable

    by SHAWN CUMBERBATCH

    shawncumberbatch@nationnews.com

    INTERNATIONAL MONETARY FUND (IMF) experts are maintaining that Government’s debt, which edged towards $15 billion at the end of March, is sustainable.

    Their judgement, however, is that “uncertainties remain high” as the authorities target reducing debt to 60 per cent of GDP (gross domestic product) by 2025/2026.

    The main risks they see in the way of Barbados achieving this are weaker than expected economic growth, a delay in the economic and fiscal reforms needed to generate primary fiscal surpluses, and natural disasters.

    “Such risks are mitigated by Barbados’ strong track record of reform implementation and a favourable debt service schedule,” the latest IMF debt sustainability analysis, which is mandatory when countries are in arrangements with the institution, states.

    “In addition, climate policy reforms and investments in climate adaptation, supported by the Resilience and Sustainability Facility arrangement, will be essential to increase resilience to natural disasters and mitigate risks to debt sustainability.”

    The Central Bank of Barbados’ first quarter economic report says that gross public sector debt was $14.9 billion when the 2023/2024 fiscal year ended on March 31, up from $14.3 billion by the close of the previous fiscal year.

    Of this total, $9.3 billion was domestic debt and $5.6 billion external debt. The Central Bank said gross public sector debt is gross central Government debt plus other public sector debt (guaranteed contingent liabilities).

    The IMF team’s debt sustainability analysis comprises Central Government’s debt, expenditure arrears, debt of state-owned enterprises guaranteed by the Central Government, and IMF balance of payment support loans provided to the Central Bank.

    Manageable needs

    The assessment said that Government’s gross financing needs are projected to remain manageable on account of an improving primary balance, the favourable debt service schedule obtained from the 2018-2019 comprehensive debt restructuring, and the expected development of domestic capital markets.

    “The Sovereign Risk and Debt Sustainability Framework suggests that Barbados’ overall risk of sovereign stress remains moderate and confirms that public debt is sustainable. However, the wide fanchart – that is, possible debt path – indicates a high degree of uncertainty, reflecting Barbados’ history of macroeconomic volatility,” the debt sustainability analysis stated.

    Barbados’ public debt has been on a declining path following the increase experienced during the COVID-19 pandemic. Public debt continued to decline in fiscal year 2023/24 to 116.5 per cent of GDP, from 119.7 per cent of GDP in fiscal year 2022/23 and the recent peak of 148.1 per cent in fiscal year 2020/21, driven by the economic recovery and progress in fiscal consolidation.

    “The end of fiscal year 2023/24 public debt ratio was around 1.8 percentage points of GDP higher than projected at the second review, reflecting higher-than-expected Government issuance of domestic securities, which resulted in an increase in government deposits with the Central Bank of Barbados and strengthening of cash buffers,” it added.

    The IMF staff analysing Barbados’ debt said Government’s gross financing needs are expected to be met with loans from international financial institutions and increased domestic borrowing in the near term.

    “The short-term profile of the public debt service poses limited risks, reflecting the favourable repayment schedule resulting from the 2018-19 debt restructuring, long-term borrowing from international financial institutions (IFIs) during the pandemic years, and higher cash buffers following the accumulation of Government deposits of around 1.5 per cent of GDP in fiscal year 2023/24,” the report outlined.

    Rolled over

    “Short-term debt held by commercial banks is automatically rolled over based on the 2018-19 agreement, with remaining near term financing needs met through IFI financing and domestic borrowing.”

    The analysis also noted that local banks and other domestic investors “have increased their purchases under the BOSS programmes, and the Government has restarted issuance of treasury bills, with the stock of issuances since September 2023 standing at about $172 million (1.3 per cent of GDP) at March 2024”.

    “The recent improvement in market sovereign credit risk ratings (Barbados is currently rated as B- by Standard & Poor’s, B by Fitch, and B3 by Moody’s) bodes well for the authorities to be able to roll over the restructured commercial external debt coming due in 2025, at favourable borrowing costs,” the IMF said.

    Source: Nation


  23. Bushie

    I actually thought the cap was too small for your head. I guess I was wrong.

    “Good leaders learn to LISTEN to all sides and to all versions with an open mind so as to best serve the collective interests….Opposite views do NOT = hatred….”

    For “opposite views” to be considered worthwhile, they must first be based on evidence.

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