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Rise in the cost of living will continue

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The International Monetary Fund (IMF) will be visiting this week to do a routine ‘check in’ on Barbados. According to Patrick Belgrave, IMF’s resident representative, the purpose of the ‘check in’ is to “keep each other apprised of developments in the local economy, and on policies. These serve to assist the IMF team in preparing for the subsequent Extended Fund Facility/ Resilience and Sustainability Facility (EFF/RSF) review missions”.

Governor of the Central Bank Kevin Greenidge in his usual optimistic, ebullient self is quoted as pleased at the fact Barbados continues to solidify its growth performance. The final paragraph of the press report should pique the interest of informed Barbadians, “significant expansions in the tourism and construction sectors, underpinned by successful events such as the International Cricket Council Men’s T20 World Cup”. When will the country show creativity and innovation by expanding our product and services basket? Have we forgotten the Covid 19 experience?

The sad reality is that the incumbent leadership of the country- in the public and private sectors- show little inclination to invest serious thought to sowing the seeds to NEW ways of doing business. We continue to milk a tired traditional economic model that has served us well but whose shelf life has expired.

After Governor Greenidge delivered his most recent review of the economic performance, immediate feedback from Barbadians was that the 4.5& growth in the economy was not being felt by ‘the man on the street’. The cost of living continues to be too high. How long have we had to listen to successive governments making bold promises to tackle the high cost of living? There is no doubt opportunities exist to reduce markups, or to source cheaper brands etc BUT there is a reality. Barbados is a price taker which means the high cost of living is influenced by many factors outside of the control of Barbados.

  • Barbados imports most of its food, fuel, and commodities. This means we are vulnerable to high and fluctuating cost.
  • Barbados is a small market unable to leverage economies of scale.
  • Barbados dollar is pegged to the USD which means fluctuations in global currencies affect the cost of imports. In recent years there has been a concerned effort by some countries e.g. BRICS to create alternatives to trading in USD which will continue to pressure the USD.
  • One of the most important considerations driving the high cost of living is energy costs, electricity and fuel affect all sectors. The transition to renewable energy continues to be slow with a big snag being the inability of the national grid (Barbados Light & Power) to store excess power.
  • Barbados is a high labour cost destination One does not have to be a guru to understand businesses operating in a high cost destination will face similar challenges to households.
  • Barbados government has to tax to be able to fund its expenses. It is no secret we have modelled government to that of the UK which is described as a welfare state.

There are the effects of being tourism dependent, limited real estate driving high building cost, monopolistic behaviour by utilities (FLOW, BL&P), banking and insurance costs etc notwithstanding there are regulatory bodies established to ensure fair market practices.

This is why the experts use the jargon reference ‘exogenous shocks’ to prepare us for the 24/7 buffeting in global headwinds that will always be with us.

We are a country addicted to consumption behaviour.

We have not aggressively invested in opportunities to earn our way in the word.

We have become lazy in thought because it is easier to borrow and saddle future generations with the debt.

We have been happy to validate decisions taken by successive governments to kick the can down the road.

Are we there yet?

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48 responses to “Rise in the cost of living will continue”

  1. David Avatar
    David

    Over-reliance on tourism ‘a worry’

    by COLVILLE MOUNSEY

    colvillemounsey@nationnews.com

    CONCERNS ARE BEING raised about Barbados’ over-reliance on tourism and the longterm implications of its relationship with the International Monetary Fund (IMF).

    Professor Don Marshall, head of the Sir Arthur Lewis Institute of Economic Studies (SALISES), and economist Professor Emeritus Michael Howard have voiced their scepticism about the sustainability of the nation’s current economic model.

    “Barbados has become a mature tourism destination, and I don’t know how much more we can develop,” Howard stated.

    He warned that while the government is seeking to build more hotels along the south and west coasts, expanding the tourism sector could have risks.

    “Tourism is becoming a very delicate operation with all the turbulence in the world economy and wars. You don’t know from year to year what would happen.”

    Howard suggested that while tourism remains important, it should not be the sole pillar of the Barbadian economy.

    “We can’t put all our eggs in that basket,” he stressed, advocating for renewed attention to agriculture as a means of reducing the country’s food import bill and increasing local production. However, he acknowledged the challenges, particularly given that many agricultural initiatives have required significant subsidies.

    Echoing Howard’s concerns, Marshall critiqued what he viewed as a broader ideological and intellectual stagnation with the economic policy.

    “We’ve stopped thinking about how to get past the predicament of being a mono-sector economy heavily reliant on tourism,” he remarked, adding that the nation’s dependence on tourism has come at the cost of exploring alternative economic sectors.

    Marshall was particularly critical of the reliance on IMF financing, which he believed has shackled Barbados’ policy autonomy. He pointed out that the IMF is largely concerned with fiscal discipline rather than long-term development, leaving Barbados stuck in a “logjam” of limited options.

    “This marriage with the IMF was never meant to be long-term,” Marshall said.

    Temporary arrangement

    “It was intended to be a temporary arrangement, but we are now wrestling with ‘limit situations’ that are affecting the life chances of many Barbadians.”

    Marshall also raised the alarm over future economic prospects, particularly for young people.

    With limited job opportunities outside of tourism, many are turning to entrepreneurship as a survival mechanism rather than a choice, he explained.

    “It’s not every attempt to survive that is an expression of entrepreneurial will and intent. The reality is we need a broader economy where there can be greater expressions of entrepreneurship.”

    Both economists agreed on the importance of diversifying the economy. While Howard saw the potential in agriculture – particularly through modernisation and partnerships with foreign expertise like the Chinese – he admitted that Barbados faced significant hurdles.

    The sugar industry, once the backbone of the island’s economy, has been in decline, and there is little public information about its future, particularly in terms of financing and energy partnerships, Howard stated.

    Marshall advocated for more proactive state intervention to stimulate economic diversification. He called for public-private sector partnerships and targeted incentives to create a more robust environment for entrepreneurship and local industries.

    However, he stressed that these measures were constrained by the IMF’s oversight of Barbados’ fiscal policy.

    “The state’s posture is limited by the Fund. They demand fiscal restraint when what we really need is more expenditure to grow our economy,” he said.

    Howard questioned the infrastructure required to support further tourism development.

    Expanding the tourism sector, he argued, came with increased costs for maintaining roads, water supplies, and electricity. He called for a comprehensive analysis of the net foreign exchange earnings from tourism, taking into account these infrastructural costs as well as the importation of food and fuel to sustain the industry.

    In addition to economic concerns, Howard pointed out the environmental risks of expanding tourism infrastructure along the coasts, particularly in light of climate change.

    Source: Nation

  2. David Avatar
    David

    BCEN knocks spending advice

    THE BARBADOS CONSUMER EMPOWERMENT NETWORK (BCEN), led by its executive director Maureen Holder, has serious concerns about recent advice from the Barbados Chamber of Commerce and Industry (BCCI) to make purchases early in anticipation of future price increases.

    This advice, given by BCCI president James Clarke and chairman of the BCCI’s Revitalisation of Bridgetown Committee Eddy Abed in another section of the Press, alarmed the BCEN, which believes that such a message could further burden already struggling consumers.

    In a press statement on Saturday, Holder questioned whether the BCCI genuinely considered the financial realities faced by Barbadian households.

    “Does the BCCI believe that the average Barbadian consumer has the disposable income to follow this advice?” Holder asked while pointing out that inflationary pressures have already made basic living costs difficult to manage for many.

    She cautioned that the message could provoke unnecessary panic buying, disproportionately benefiting retailers while further straining consumers.

    Holder also highlighted the inconsistency between the BCCI’s advice and earlier warnings from Senior Minister Kerrie Symmonds, who urged Barbadians to be cautious with spending as the country braces for potential economic fallout. The contrasting messages – one promoting careful spending and the other encouraging early purchases – have left many consumers unsure of how best to navigate the current economic climate.

    The BCEN president further criticised the BCCI’s emphasis on price increases as inevitable, especially given the lack of clear evidence to support such claims. While global freight costs and geopolitical issues do play a role in driving up prices, Holder argued that many goods currently on the market were bought at lower freight rates, and there was no indication that these would suddenly see higher prices.

    She questioned how much stock retailers already hold and whether all businesses are likely to see the same increases.

    “Is this advice relevant to all retailers or just a select few?” Holder asked, referencing businesses like Abed’s, which were specifically mentioned by BCCI leaders.

    Holder pointed out that while global conditions do impact costs, local pricing strategies, including retail markups, are also responsible for the high cost of living in Barbados. She expressed disappointment that the BCCI had not addressed these internal factors and suggested that retailers could mitigate some of the external cost pressures through more strategic pricing and smarter supply chain management.

    “The suggestion that price increases are solely driven by external factors like freight rates ignores the local realities that also contribute to rising prices,” Holder stated. She also reminded the public of the potential for global economic shifts, such as the upcoming US elections in November, which may influence policies around price control and fairness.

    Instead of urging consumers to rush into early spending, Holder called for more thoughtful solutions that could benefit both consumers and businesses. She advocated for exploring local alternatives to imported goods and negotiating better freight deals to reduce costs across the board.

    “While some may have the financial resources to shop early, the reality is that this is not an option for the majority,” Holder warned, adding that consumers should not feel pressured to spend before they are financially ready. She urged Barbadians to weigh the BCCI’s advice carefully and avoid taking on unnecessary debt, particularly in the lead-up to the Christmas season when early shopping loans could compound financial difficulties.

    Holder reiterated BCEN’s commitment to advocating for Barbadian consumers, calling on businesses to prioritise long-term strategies that ease the burden on households, rather than pushing for short-term sales at the expense of consumer welfare. (CLM)

    Source: Nation

  3. David Avatar
    David

    Assessing cost of living strategies

    THE COST OF LIVING is a critical issue that affects the well-being of individuals and the overall economic stability of nations. Governments worldwide continue to grapple with strategies to mitigate the rising costs of goods and services.

    In Barbados, there have been persistent calls from all quarters for the Government to combat the high and rising prices of essential goods. The signature strategy was the signing of a social compact in July 2022 by the Government, the private sector, and the labour movement.

    This tripartite agreement aimed to reduce prices on 47 essential items for the following six months until the end of January 2023 and was later extended to the end of July 2023.

    By its very design, this measure would have had a temporary effect. In contrast, other measures, less direct, but longer term have been implemented.

    The Government has provided incentives for households and businesses to adopt solar energy to reduce electricity costs. It has also expanded social assistance programmes for vulnerable populations.

    Tax rates

    Other measures include the reduction of income tax rates and provision of reverse tax credits to increase disposable income; promotion of local agriculture and backyard gardening to reduce dependency on imported food; investment in affordable housing projects to address the rising costs of renting and home ownership; provision of grants, loans, and incentives to SMEs (small and medium-sized enterprises) to encourage local production, foster entrepreneurship and diversify the economy; continued subsidisation of public transportation, caps on bus fares and tax incentives for purchases of electrical and hybrid vehicles; and public awareness campaigns to educate citizens on budgeting and making informed purchasing decisions.

    The effectiveness of such strategies to combat the cost of living crisis has been mixed. Price controls on food and a cap on the VAT on fuel prices have provided temporary relief to consumers, particularly to lowerincome households, but are costly for the Government to maintain and are not a sustainable long-term solution.

    The push for renewable energy has had a positive impact on reducing energy costs over time. Solar energy adoption, in particular, has allowed some households and businesses to reduce their dependence on expensive fossil fuels and helped curb energy costs.

    However, the transition to renewable energy takes time and the benefits are gradual. While the strategy is yielding results, immediate relief in energy prices has been limited, especially as global energy prices fluctuate.

    Expansion of social assistance programmes has been a key lifeline for vulnerable groups. Government’s limited fiscal capacity calls into question whether these programmes can be sustained over the long term.

    Rising inflation puts additional pressure on the need for increased welfare support.

    Income tax reductions and VAT cuts on essential goods have provided some relief and helped households better manage rising costs. These measures, while helpful, have not fully offset the effects of inflation. As global prices for imports rise, tax relief is only partially effective in keeping the cost of living manageable, particularly for middle-income earners.

    Investments

    Barbados’ investments in local agriculture are showing promising results, with increased local food production, but are still insufficient to reduce the country’s heavy dependence on imported food. Scaling up agricultural production to meet national demand will take time and coordination and the impact on overall food prices is still modest compared to the high levels of imported goods.

    Support for small businesses and entrepreneurship has contributed to local job creation and the growth of some domestic industries, but local manufacturing growth is modest.

    Businesses face challenges such as high production costs and competition with cheaper imported goods. Scaling up local production remains a slow process, and immediate effects on consumer prices have been limited.

    Transportation

    Public transportation subsidies have kept fares affordable, providing relief to lower-income households, while the use of electric vehicles is slowly gaining traction, helping to reduce fuel costs. The public transportation system still faces inefficiencies and not all communities have equal access. Uptake of electric vehicles is still limited due to the high initial cost of adoption, so the broader impact on transportation costs remains slow to materialise.

    Financial literacy programmes and public awareness campaigns have empowered citizens to better manage their finances during the crisis. While helpful, these campaigns cannot address structural issues such as inflation and wage stagnation.

    They provide guidance on coping strategies but cannot fundamentally reduce the rising costs of essential goods and services.

    Ongoing challenges related to inflation and global economic instability mean that more comprehensive and sustainable solutions will be needed to fully address the cost of living concerns in Barbados. Most strategies rely on government spending, which is unsustainable in the long term.

    Necessary structural reforms will take time to yield broader economic benefits.

    Professor Troy Lorde is an economist and Dean of the Faculty of Social Sciences at the University of the West Indies, Cave Hill Campus.

    Email troy.lorde@cavehill.uwi.edu ‘

    Source: Nation

  4. David Avatar
    David

    Gobbledygook!

    Developing countries feeling debt squeeze

    WHEN CENTRAL BANK of Barbados Governor, Dr Kevin Greenidge, presented the institution’s half-year economic review recently, he said the bank expected the economy to grow by about 3.9 per cent this year. However, Greenidge cautioned that while the growth outlook is promising there are several risks, with the International Monetary Fund (IMF) predicting a global economic slowdown linked to higher borrowing costs, geopolitical tensions, and weaker productivity growth. IMF chief economist Pierre-Olivier Gourinchas recently elaborated on these issues as he answered questions from journalists about global economic prospects and associated challenges. An updated international economic picture will come next month when the IMF/World Bank annual meetings take place in Washington DC, United States.

    What protectionist trade policies are of most concern to the Fund?

    One concern we have is that we see an explosion in a number of trade-restrictive measures. We’ve seen upwards of 3 000 such measures implemented in last year in 2023. This is up from 1 000 such measures in 2019 and 1 000 measures in 2019 that was not a low tide, that was already a high number. And so this takes the form of restrictions on exports, this takes the form of various industrial policy measures that have a trade component, and of course, this leads to retaliation.

    We see that when a country imposes trade restrictive measures, there are retaliation from other trading partners that are imposed in fairly short order, and that reduces or impacts trade, bilateral trade mostly at this point. And that can impact also the diffusion of knowledge, capital flows and increase uncertainty in the global economy, and leaves countries more vulnerable.

    So one concern we have is that going forward, this will weigh down on global activity.

    Now, having said this, I should emphasize that what we’re seeing for 2025, we’re seeing a fairly robust global growth in trade. So trade overall has not decoupled from economic activity, but we’re seeing a lot of rearrangement of the trade flows under the surface. At some point, this will start weighing down on economic activity.

    Inflation is a bit sticky still today.

    How would this impact the global economy?

    We are concerned that the path of disinflation in some advanced economies had slowed down in the first part of the year.

    We got some good news in the US with the June Consumer Price Index Report and so therefore it looks like inflation dynamics are moving, at least in the US, in the right direction.

    But we’ve seen bumps in the road, and we should anticipate that maybe there could be more and there could be some delays in the pace and the speed at which inflation will be coming down now. In response to this, central banks might need to stay higher for somewhat longer. The longer interest rate cuts are delayed or the higher the interest rate is in advanced economies that puts pressures on currencies, that puts pressure on capital flows, and that pressure goes to emerging and middleincome and developing countries.

    So this is one concern for the global economy.

    How do you view the position now of developing country debt and how that’s progressing, given the increased protectionist pressures and the upward pressure on interest rates?

    On the developing countries debt and the problems there, it’s certainly the case that many countries have been feeling a debt squeeze in the last few years. They’ve been having difficulties accessing the market. For many of them, it’s been difficult on the fiscal side because it leaves them with one less lever with which to try to meet the spending needs that they have.

    So it’s been a very challenging situation. A few countries have reaccessed the market in 2024, but often at very elevated interest rates, sometimes in excess of ten per cent.

    So very costly access to funding. So overall, the situation is challenging.

    We are not seeing a systemic debt crisis by far. We’re seeing some isolated situations that are challenging.

    You mention the potential for significant swings in economic policy as a result of the elections this year, with negative spillover to the rest of the world. Could you elaborate on these concerns, particularly in light of the upcoming US election?

    What we are seeing is, of course, as part of the democratic process and elections, there can be some changes in general orientation or policies that can happen. And the uncertainty that is associated with that increases the overall policy uncertainty that we see overall. A number of countries need to do some efforts on the fiscal side, making sure that they can bring debt-to-GDP ratios back to levels that give them some breathing room.

    And there is some concern about how much of that effort is going to be implemented, especially when there is policy uncertainty that might be associated with elections. On the trade industrial policy side, there could be some increase in trade measures.

    There could be more distortions related to industrial policy measures.

    That could have spillovers to other countries.

    What is the outlook for Sub-Saharan Africa?

    On Sub-Saharan Africa, the growth projections for 2024 are revised downward a little bit to 3.7 per cent, that’s a negative 0.1 percentage point revision, and are unchanged for 2025 at 4.1 per cent. And the broad context here is that we expect to see inflation in the rear-view mirror. There is going to be an easing of global monetary conditions and financial conditions, and that is going to benefit also the region.

    The context is challenging for many countries in the region because of the funding squeeze that is affecting a number of countries, especially in Sub-Saharan Africa.

    As we expect monetary conditions to ease and inflation to be brought under control, then that gradually will also ease. So that will be a positive development.

    Source: Nation

  5. David Avatar
    David

    Barbados IMF surcharges in millions

    by SHAWN CUMBERBATCH shawncumberbatch@nationnews.com

    BARBADOS IS scheduled to pay millions of dollars more in surcharges to the International Monetary Fund (IMF) this year, 2025 and beyond unless the United States (US)-based financial institution reduces or abandons the controversial fees.

    Ahead of its annual meetings next month, the IMF has started what its director of communications Julie Kozack recently called “a comprehensive review” of surcharges.

    Barbados and other countries have been lobbying for an end to the surcharges, but it is unclear what the outcome of the review will be.

    Based on a published schedule of Barbados’ projected payments to the IMF, as of December 31, 2023 the island was expected to repay the Fund US$72.7 million this year, including, US$5.02 million in surcharges.

    An updated schedule at the end of July stated that Barbados will pay the IMF about US$43.5 million including US$2.83 million in surcharges. For 2025, Barbados’ projected payments to the IMF are approximately US$102.9 million, including, US$6.4 million in surcharges.

    In April, published IMF data revealed that Barbados paid the IMF about US$25 million last year, including about US$4.23 million in surcharges.

    Speaking at a press briefing on July 11, Kozack said: “A comprehensive review of IMF surcharges is currently underway. That is part of our Executive Board ‘s work programme for this fiscal year.

    “The review aims to do a few things. It will take stock of experience with the implementation of the surcharge policy since the last review, which was in 2016. The review may present options for possible changes to the current policy, taking into account the implications for our borrowing members and also for the IMF’s credit risk management framework.”

    She continued: “Engagement with our Executive Board has started. Engagement between staff and the Executive Board has started. As part of that review, the staff does engage informally with the board from time to time, and that’s because a broad consensus among the IMF’s membership is needed to make any changes to the surcharge policy.

    Voting power

    “That policy requires, according to the Articles of Agreement, a 70 per cent majority of voting power in the Executive Board for any changes to that policy. So, building consensus is crucial,” she noted.

    As of September 7, the United States (US) has 16.5 per cent voting power at the IMF – the largest amount. The US has been reluctant to change the surcharge mechanism.

    Speaking during a recent meeting of the US House Financial Services Committee, Treasury Secretary Janet Yellen said the US backed the IMF’s decision to review its surcharge policy.

    She added, however, that “the surcharges framework is important to create appropriate incentives to repay the IMF in a timely way and to contain borrowings”.

    It is estimated that in the last five years, Barbados and other IMF-indebted countries have paid the institution US$7 billion in surcharges, with a further US$9.8 billion expected to be paid over the next five years.

    The surcharges the IMF receives are in addition to regular interest rates and service fees charged on funds borrowed by Barbados and other member countries.

    On Friday, former IMF deputy director Hung Tran, speaking as a non-resident senior fellow at the US think tank Atlantic Council’s Geoeconomics Center, said in an Atlantic Council commentary that the IMF “should seriously consider these requests and move expeditiously to significantly reform its surcharge policy, ideally abolishing it”.

    “This policy has not served its purposes, is no longer needed to build the Fund’s precautionary reserves. Instead, it imposes unnecessary financing burdens on low-income countries in debt distress – the very countries that need all the help they can get,” argued the former executive managing director at the International Institute of Finance.

    Tran expects the ongoing IMF surcharges review “to produce recommendations to be discussed at the Annual Meetings in October”. He said that the surcharge system “is causing more harm than good”.

    He elaborated: “Level-based surcharges of two-hundred basis points are added on top of the basic charge associated with IMF borrowing for member countries with high debt levels owed to the IMF General Resources Account (exceeding 187.5 per cent of a member’s quota).”

    Economic distress

    “Time-based surcharges of one hundred basis points are applied to loans lasting longer than thirty-six months (under a regular standby loan) or fifty-one months (under an extended funding facility loan).”

    The former IMF deputy director explained that “the basic IMF charge rate is one hundred basis points above the Special Drawing Rights (SDR) interest rate”.

    He stated: “The IMF SDR rate is determined by the weighted average of the interest rates of the five major currencies – the US dollar, euro, pound sterling, yen, and renminbi) – making up the SDR – currently at 3.8 per cent.

    “As a consequence, such surcharges would bring the total lending rate of IMF loans subject to surcharges to 7.8 per cent at present – quite onerous for countries already in deep economic distress and short of hard currency.”

    Source: Nation

  6. Bush Tea Avatar
    Bush Tea

    How is it even possible to have such clueless leadership in 2024?

  7. Hants Avatar
    Hants

    Leadership…

    Borrow beg and sell.

  8. Hants Avatar
    Hants

    Leadership and planning….

    Loans grants and disaster relief

  9. Hants Avatar
    Hants

    Be prepared….

    https://www.nhc.noaa.gov/gtwo.php?basin=atlc&fdays=7

  10. Redguard Avatar
    Redguard

    Here is what professors Howard and Marshall know but cannot say
    You cannot diversify an economy when:
    You continue to use GDP and debt to GDP as the primary metrics for the economic health of the country
    Most of your university graduates studied a Social Science
    Your community college and polytechnic are in desperate need of upgrade and modernisation and are viewed as the option if you are not “bright”
    Teaching is not viewed as a career but the best option for the unambitious graduates to get a decent salary
    You fail to build a meaningful connection with the diaspora and tap into their skills, knowledge and experience. (The diaspora is worth way more than remittances, hotel accommodation and fetes and party tickets)
    You refuse to adopt recognised internationl standards for Quality, Safety, HACCP etc

  11. Hants Avatar
    Hants

    Leadership ?

    https://dominicanewsonline.com/news/homepage/homepage-carousel/antiguas-prime-minister-engages-with-gang-members-to-foster-peace-and-rehabilitation/

  12. Bush Tea Avatar
    Bush Tea

    You refuse to adopt recognized international standards for Quality, Safety, HACCP etc
    ~~~~~~~~~~~~~~~~~
    True!!
    Like CXC…and building codes..
    So that we can pat ourselves on the back and admire our own mediocrity.

    BTW
    @ David
    How are you highlighting news articles and missing the ones in Business Authority -where the former Simpson Motors / Sol, now Parkland, has established themselves as the modern plantation system with the old traditional ownership and management, and are shipping HUNDREDS OF MILLIONS in profits off to their foreign absentee owners, while our local ‘leaders’ brag about borrowing from the IMF (at great costs – including painful ’surcharges’) to survive?

    What a place ….where a so-called ‘patriot’ (who has been conferred with our highest honor) has been the JUDAS to sell this National asset and our asses back into slavery for his PERSONAL enrichment.

    Of course Simpson is following the example set by SAGICOR, Light & Power, BS&T, Cable & Wireless, …shiite even Cave Shepherd and Collins have joined the JUDAS pack.

    It is only OBVIOUS that we will be poor as shiite if our engines productivity have been sold (handed) off to become plantations of exploitation instead.

    How do we deserve such ‘Leadership’?
    “We must have done, something wrong….” as Bob Marley suggested…

    What a place!!

  13. David Avatar
    David

    @Bush Tea

    Struggling to understand your point. Are you suggesting Simpsons and Texaco should have been nationalised? How do you suggest we prevent private companies from selling out to foreign interest?

    Caribbean fuelling Rubis and Sol

    by SHAWN CUMBERBATCH

    shawncumberbatch@nationnews.com

    BARBADOS AND other Caribbean markets are fuelling major earnings for petroleum companies Rubis and Sol.

    Senior officials of the French and Canadian owned companies report that their retail and marketing of energy products has received a boost from the region.

    Rubis and Sol have also gotten a lift from increased demand for aviation fuel, which they are linking to the Caribbean’s big tourism rebound.

    The pair of oil industry giants separately outlined their financial performance and the significant contribution from Caribbean markets in published financial reports and in discussions with financial analysts.

    Rubis half-year financial results state that the Caribbean contributed $206.2 million in earnings before interest and taxes in the half year to the retail and marketing segment, more than Africa ($159.6 million), and Europe ($77.6 million).

    Sol’s parent Parkland Corporation says that the group delivered earnings before interest, taxes, depreciation, and amortisation of $268.2 million for the second quarter of 2024 and $487.8 million for the first six months of 2024, representing an increase of $20.6 million and decrease of $29.4 million, respectively, compared to the same periods in 2023.

    Strong performance

    Reporting last week on Rubis’ half-year performance, Rubis group managing partner Clarisse Gobin-Swiecznik said that “following a record-breaking 2023, we have delivered strong operational results in the first half of this year”.

    While the official said the overall performance was “hampered by challenges in Kenya and Nigeria”, the there was “strong performance in the Caribbean.”

    “The aviation segment – representing 20 per cent of fuel volume and 17 per cent of fuel gross margin – was very dynamic with volume growth [increasing] 32 per cent and gross margin [up] 34 per cent,” Gobin-Swiecznik said.

    On the fuel part of the retail and marketing segment, Rubis says that retail fuel business was very dynamic in the Caribbean – including Jamaica, Antigua, Grenada, Dominica and Guyana – but under pressure in Kenya. Aviation fuel sales were also said to be “very dynamic in Kenya and Barbados”.

    The company added: “Following the same strong momentum started in quarter one, the commercial and industrial business representing 28 per cent of fuel volume and 28 per cent of fuel gross margin increased by six per cent in volume, and 15 per cent in gross margin, led by Guyana and Barbados.”

    Speaking during a Rubis earnings call, the managing partner said that “for the rest of the year, the Caribbean continues [are expected]to operate at a very high level of activity, and we do not expect any slowdown in 2024”.

    Robust demand

    Rubis group chief financial officer Marc Jacquot added: “The Caribbean . . . continues to be the first contributor to the group performance. The retail is booming in Jamaica, aviation is growing in Barbados with more flight rotations and good tourist season.”

    It was a similar story for Sol as reported by Parkland Corporation. In a recent conference call with analysts, Parkland president and chief executive officer Bob Espey said that while the group had some challenges in its businesses in Canada and the United States, Sol “is kind of the opposite”.

    He attributed this partly to “robust demand across all of our segments”, including in Guyana “where we are a key service provider into the oil exploration business”.

    Espey said second secondly that the Caribbean’s extended tourist season was also a financial plus for Sol.

    “Tourism lasted a little longer. There were some international sporting events in the market that drove people in. Also, we continue to see people go into the market to vacation. The second thing is jet fuel. Demand was really good as people were moving in and out of the [Caribbean] market.”

    Parkland chief financial officer Marcel Teunissen said the company is “bullish on the growth prospects for the region, where the macroeconomic environment is much more constructive”.


    Source: Nation

  14. NorthernObserver Avatar
    NorthernObserver

    @BTea
    Simpson Motors is now Inchcape, it’s SOL that is Parkland.
    Further if you read beyond our shores, you will know that SOL, a Caymanian entity, who own a meaningful share of Parkland (+/-20%), are in a pissing battle with each other.
    The exact cause and continuation of tensions seem to have as many interpretations as there are journalists covering the topic. The only certainty is it concerns money, though terms likes control, director nominees, direction and strategy are used so they can avoid the term money.

  15. NorthernObserver Avatar
    NorthernObserver

    Interesting our local scribes can use headlines like ‘IMF surcharges in millions’ to represent amounts well under $10 million, but still meaningful and in millions, yet when it comes to CBL or the NIS, or success fees in financial reorganization, such headlines elude them. And these amounts are at the low end, 10x more than surcharges.
    Possibly what my grandfather called, Penny wise but Pound foolish.

  16. David Avatar
    David

    @NO

    Read an article somewhere SOL is concerned about the turnover of senior executives which appears to ‘offend’ an agreement between the two?

  17. David Avatar
    David

    @NO

    It does not surprise the blogmaster. They are merely puppets for those in the shadows.

  18. Hants Avatar
    Hants

    Bajan born!

    https://www.kyffinsimpson.ky/

  19. Hants Avatar
    Hants

    Boy from Barbados.

  20. Bush Tea Avatar
    Bush Tea

    @ David
    “How do you suggest we prevent private companies from selling out to foreign interest?”
    ~~~~~~~~~~~~~~~
    How is it done in other countries that are SERIOUS about protecting the interests of THEIR CITIZENS?
    They pass LAWS to control it…
    They use MORAL suasion…
    Shiite Boss..
    They would even go to war if needed.

    Do you SERIOUSLY not see the betrayal of those from among us, who benefit from concessions, local patronage, local labor and dedication to build successful enterprises – only to then sell out the local participants …over to albino centric strangers? ..and all for their own SELFISH gratification?

    If you can’t see this, then you may be a bit ‘brassier’ that Bushie had thought….. LOL..aS

    EWB facilitated a shrimp industry – SPECIALLY to accommodate someone whom Barrow thought was interested in the NATIONAL development of the little shiite place…
    Bajans labored for decades to help to build a successful enterprise…
    Brass Bowls patronized the expensive products to foster growth…

    Then, like a true JUDAS, he can forget his roots and sold out his fellow citizens to a pack of international albino-centric bandits… sending them back into plantation-like conditions, in two key sectors of the economy.

    SAGICOR did the very same shiite… Massy…etc

    Same shiite with Light & Power, where a highly regarded local player was facilitated with local support and resources, to grow a highly successful utility…
    Only to run to sell it to another set of albino-centric bandits for a bag of silver…

    That utility is now a millstone around the necks of everyone – except for the RECORD setting profits being extracted quarterly to the absentee owners, despite the pathetic service and high charges to locals.

    If THIS all seems normal to you boss, then good luck to you with your GUARANTEED future as a beggar and Parro…

    @ NO
    Parkland / Inchscape, ..not the same Judas?
    Also, you are SOOOO right about the cowardly press – who choose when to call a spade a spoon and a knife a sword.
    The press are mostly Judases as well, ..only of the MUCH cheaper variety.
    We ALWAYS get EXACTLY what we deserve – as a society.

    What a place!!!
    What blindness…
    What self-depreciation..
    What a lack of national self-esteem.

  21. David Avatar
    David

    @Bush Tea

    Other countries may not have our challenge, that of attracting capital and investment. Be careful what you asked for there are always consequences.

  22. John A Avatar
    John A

    Look all this pontification should be of concern to us for sure, but we will be facing a more direct issue going forward over the next months. What the Central bank and others are not focusing on is freight rates. Do you know out of China and the Far East container freight cost is back up to the record rates that existed around the Covid Period? Do you know that rates out the USA for a 20 foot container will be at a 3 year high come the last quarter of 2024?

    So why is this such a problem? On the rock all of our duties, Vat and distribution markups are based on the CIF. Also remember this party is yet to remove the FX tax on hard currency that sinkyuh placed on it, which resulted in EVERY USD BOUGHT THROUGH THE CENTRAL BANKING COSTING US $2.07 BDS FOR 1 USD! Nobody don’t want to talk bout dat though. So you want to see what a hundred USD item ends up at when it goes through the system? I going brek em down for you in baby steps below.

    ITEM COSTING 100USD = BDS $2.07 PURCHASE COST. FREIGHT ROUGHLY 10% PERCENT (IF YOU LUCKY AND THAT IS BEFORE THE NEW RATES) = 2.07 X10% = 227.70 BDS. DUTY AT 20% (BASE RATE)=273.24. NOW WUNNA ADD THE RETAIL MARKUP AT SAY 40% TO DAT = 382.54. WUNNA AINT DONE YET CAUSE MIA WANT SHE VAT AT 17.5%. THAT GOES PUN TOP EVERYTHING SO 382.54 X 17.5%= 449.49! YEP WE CALL THAT A RETAIL FACTOR TO COST OF 4.48 TIMES!!

    So who really making the money here ? well the retailer that wunna like to say price gouging making $109 bubados on the $207 bds cost ( 100 USD). So how much de state making on that same item? Well dem make 7 bds on selling the 100 usd to the importer. Then dem make $45.54 in duty and $66.94 in Vat when the item is sold = a total collected by the state of $119.48 bds.

    SO IN SUMMARY THE BUSINESS MAKING $109 BDS ON THE $100 USD ITEM.
    THE STATE MAKING $119.48 IN TAXES ON SAME ITEM.

    Actually the state is making more than the $119.48 bds cause dem also collecting port charges when the container draw.

    B or D or feathered fowl can look at any number here and say them wrong, but be prepared to bring the proof when you coming! Now let me add here that based on the freight rates I am seeing over the Xmas period, prices could be rising anywhere between 5% and 12% based on the cube of the item and that my friend is a conservative estimate.

  23. Bush Tea Avatar
    Bush Tea

    “Other countries may not have our challenge, that of attracting capital and investment.”
    ~~~~~~~~~~~~~~
    This ‘challenge’ comes from a LACK OF PRODUCTIVITY.

    Bums who sit around all day playing dominoes and liming on the block will OBVIOUSLY have a ‘challenge’ of attracting capital and investment in order to eat.
    The real solution is to GET a DAMN JOB.

    Of course it is MUCH easier to borrow (seek investment), or to beg (attract capital).
    But on the individual level, we call such brass bowls ‘bums’ and ‘Parros’.

    It is hard to understand why you see a difference at the national level.

    When you have inherited what is probably the MOST BLESSED piece of real estate anywhere, and your main focus is to SELL OFF THAT ASSET to strangers, rather than to use YOUR OWN initiative and hard work to EXPLOIT its potential output,
    …you deserve what ever the hell you get..

    …and we ALL know how Bums and Parros end up…

  24. 555dubstreet Avatar
    555dubstreet

    Barbados is a Jam nation [acronym – Just about managing]
    so it needs a plan

    Singapore developed a financial services industry to become one of the biggest Banking centres behind USA and UK. Barbados could develop something similar. It has necessary skills, experience, expertise and infrastructure for international financial and accounting markets, which would remedy the impact effects from the new statutory offshore banking regulations. Like Singapore it could be a target for criminals to launder money, so Barbados will need to ensure it is compliant with Law.

    Mia has struck a good balance between West and East, where USA wants to help Barbados because China was already helping them
    Despite the never ending USA v China non-kinetic war battle space, Barbados is a neutral independent ally of both, taking the biased propaganda of the West with a pinch of salt

    Just ambition me a deal with
    I’m coming from the shaolin temple,

    功夫大侠
    kung fu hero

  25. Tron Avatar
    Tron

    Everything has already been said about the economic misery: Barbados‘ location as a small island away from major shipping routes in the Atlantic (quite different from Singapore), the Aborigines’ lack of work ethic, very high taxes, too much bureaucracy, lack of diversification of the economy and so on and so forth …

    We will never be able to change all these dreadful conditions.

    What we could definitely change is this: Get rid of those wise-cracking professors of economics at UWI for once. They give advice, which is already available for free on BU!

    Tron

  26. Terence M Blackett Avatar
    Terence M Blackett

    @ Bush Tea

    “How is it even possible to have such clueless leadership in 2024?”

    #SimpleAnswer, Bruh…

    “YOU WILL OWN NOTHING & BE HAPPY”!!!

  27. Terence M Blackett Avatar
    Terence M Blackett

    PREDICTIONS:

    (1) THE WORLD ECONOMY IS ABOUT TO HAVE A MAJOR SEISMIC EARTHQUAKE

    (2) TURMOIL WILL BEGIN IN EUROPE AS VOLKSWAGON CLOSES 2 MAJOR PLANTS WITH THE LOSS OF OVER HALF A MILLION JOBS & A PLUNGING RECORD PROFITS OF 51 BILLION DOWN TO PEANUTS TO BE FOLLOWED BY OTHER COMPANIES

    (3) THE HORSEMEN OF CATACLYSMIC WAR, WANTON BLOODSHED, PLANDEMIC SIMULATED PESTILENCE & VOLATILE MARKET COLLAPSE (ALL HAPPENING AT ONCE) SEND HAARP-LIKE SHOCKWAVES ACROSS MOUNTAINS & VALLEYS AS EVERYTHING WE HAVE EVER HELD DEAR COLLAPSES DOWN INTO HELL WITH VOLCANIC VELOCITY

    (4) ANARCHY, CHAOS, BEDLAM & VIOLENT STRIFE BECOME THE ORDER OF THE DAY AS 2025 APPROACHES WITH THE ENTIRE WORLD THROWN INTO MASSIVE UPHEAVAL & OBLIVION MELTDOWN

    (5) PREPARE 4 A SUPERNATURAL OCCURRENCE OF BIBLICAL PROPORTIONS WHOSE GYROSCOPE WILL TREMBLE AS THE FOUNDATIONS OF THIS PAST-MODERN WORLD ROCKS & WEELS RESULTING IN A NEW ORDER OF MANIC MADNESS FOR BILLIONS – WHILE JOY & ANTICIPATION 4 OTHERS

    These are NOT* just words on parchment or “SCRIBBLING IN THE SAND” of cyberspace. For if these same words were coined a millennium or 2 ago, they would have been the words of the “ANCIENT PROPHETS & SEERS” who knew & saw what was at the “GATES” of soon-2-be “FALLEN JERUSALEM”!!!

    The symptomology of what is about to emerge is “BIGGER” than a “COST OF LIVING CRISIS” or the meaningless anecdotes of what computes “DAILY LIVING” – for most are “PATENTLY CLUELESS” of the “BIGGER PICTURE”, comforting themselves with “LIES” & mindless distractions – oblivious as to what impending dangers ascend from the GALLOPING” horizon in the eastern skies…

    ISN’T THE APPROACHING MIDNITE* MEANT TO BE PITCH BLACK? WHAT HAPPENS WHEN THE LESSER LIGHTS GO OUT & THE GREATER LIGHT REFUSE TO SHINE? WHO IS ABLE TO MANOEUVER WHEN THE DARKNESS IS SO DEEP & THICK THAT YOU CAN CUT IT WITH A BUTTER KNIFE?

    #C’monFOLKS, you see the “HANDWRITING” on the wall. You know these “PARASITES” & their “VIRULENT LEADERSHIP” have been primed given what they are doing! How else can they control you unless they “CREATE” the conditions necessary to bring about their “AUTHORITARIAN GOALS”??? Do you really think that all this is “MINDLESS HAPPENSTANCE” & that “BASELESS NEUTRALITY” in a time of “CRISIS” will be a “RED PILL MOMENT”???

    WAKE UP, YOU SUCKERS!!! THE CITADEL IS ON FIRE & THE ARMIES OF SINISTER WRATH APPROACH!!! THIS IS NO TIME 4 SURRENDER & RETREAT! MAN YOURSELVES LIKE MEN & WAGE WAR AGAINST THE PREVAILING EVILS THAT ARE AT YOUR DOORSTEP!!! DIE ON YOUR FEET OR SLITHER LIKE A SERPENT ON YOUR BELLY!!! THE CHOICE HAS NEVER BEEN MORE CLEAR

    @ BUSH TEA

    #Time4ANewWeedWhacker & “CHAINSAW”!!!

    #WhatAWorldOnTheBrink
    #WhoWillSetTheCaptivesFREE*
    #HasAllHopeBeenLost

    #ImDone

  28. David Avatar
    David

    @TB

    You are intelligent to know that as time stands still in order to accommodate end times prophecy humans, including poor people must find practical ways to live?

  29. Empress Wuraola Oya Avatar
    Empress Wuraola Oya

    I personally never knew of America’s role on the Afrikan continent or for how long, but retired Colonel Douglas McGregor recently said the US was kicked out of Afrika, based on what they did and for how long.

    I think many are forgetting that the Barbados dollar is tied to the US dollar. Economists, whatever those are, only enter to pontificate, AFTER the fact, and never have workable solutions before or see the incoming collapse.

  30. 555dubstreet Avatar
    555dubstreet

    End of the World
    Microchips Coronavirus
    Fiery Judgment

    Apocalyptic Moments
    There are many apocalypses in peoples life. Like every time you read the news or watch a contentious youtube video in your algorithmic feed, or whenever there is a new Bu thread that your mind needs to weave around.

    Systems of socioeconomic oppression
    There are many Babylons, every generation has one.

    Check out the Dub Side of Sizzla.
    System Dub

  31. NorthernObserver Avatar
    NorthernObserver

    @david
    The battle lines between the two parties appear numerous.
    Another recent article, with plenty of basic inaccuracies, claimed if Parkland was sold, many of the suitors pay a higher dividend, hence SOL annual flow of dividend $$$ could double.
    A board of directors disagreement is also there.
    We know it’s about $$$, the precise angle is more complicated, due to SOLs domicile and what taxes it is subject to vs your average corporation.
    Others claim, SOL just wishes to cash out, and will get more via a Parkland sale.
    One can be confident any serious suitor would happily grab SOLs 20%. But as we saw with BHL, Massy in a similar minority position left many millions on the table, by exiting early. Simpson is not known for getting the short end of the stick.

  32. Bush Tea Avatar
    Bush Tea

    @ Terence
    #Time4ANewWeedWhacker & “CHAINSAW”!!!
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    THAT time passed long ago boss.

    When the whacker ‘get tek way’, it was to make room for the mythical Cat Dozer D12.
    You just explained the characteristics of this tool…

  33. William Skinner Avatar
    William Skinner

    @ David
    You always cry that the masses should do more and you reprimand them for their consumption habits but when it comes to the corporate betrayal of those who have bled the country, you find ways to defend them. In your book, they have no Corporate Social Responsibility but the masses should hold their bellies and bawl.
    No doubt whose side you appear to be on.

  34. David Avatar
    David

    No William, the citizens must play their part to make the system work at its best. If they persist in ceding their responsibility to the political directorate there is an inevitability to what the result will be.

  35. Empress Wuraola Oya Avatar
    Empress Wuraola Oya

    Last I heard, this system will be removed, that those so inclined are right on the cusp of having a brand new one built around them.

    Not even the devisers want the old system of things anymore, it is expired, dated, done. And judging from the dysfunction in Barbados, not useful to anyone.

  36. Cuhdear Bajan Avatar
    Cuhdear Bajan

    Is it wise for the chicken to take menu advice from the mongoose?

  37. Terence M Blackett Avatar
    Terence M Blackett

    @BUSH TEA

    “When the whacker ‘get tek way’, it was to make room for the mythical Cat Dozer D12… You just explained the characteristics of this tool

    #YouAreTheBest

  38. 555dubstreet Avatar
    555dubstreet

    Nu bu motto
    “Everyone thinks of changing the world, but no one thinks of changing himself.”
    ― Leo Tolstoy

  39. David Avatar
    David

    We the people have little power

    THERE IS A FAMILIAR quote which says “Of the people, by the people, for the people”. Sometimes, though, “we the people” strikingly have little to even less power to determine what happens to “us the actual people”. Let’s pause this week and reflect a little bit on dat.

    With the dust now seemingly settled at George Street, Ralph Thorne is, at least for now, undisputed leader of the Democratic Labour Party. What sealed it for me was the elevation to the Senate of acting party president Andre Worrell.

    With a clear leadership hierarchy thus established, Thorne, regardless of whatever the positional authority of the party’s own constitution may dictate, as both Opposition and political leader becomes the main face of the party.

    No more Ronnie [Yearwood]. Goodbye, Steve [Blackett]. Hello to the new shadows. More harmony with less acrimony, but, really, how wise was it to dismiss Ms [Tricia] Watson? But that is the prerogative of a leader. However, will it heal a party too long tone deaf to constructive criticisms, and will it prove later shrewd political manoeuvring?

    Then too is it Thorne’s intent to run (and exactly where)? Or is he just all about preparing a proper pitch on which others will bat, and, like aged Joe Biden himself, wisely pass the torch? In time, of course, the electorate will finally tell, but until then it’s all nothing but the popcorn politics of political theatre to me.

    Across the world we see the influence of absolute power. The republics of Russia, China and North Korea are all led by those with dreams of new empires while absent are the dreams of their own people. For millions of Russians, Vladimir Putin’s invasion of Ukraine is still known only as his “special military operation”; a new generation of Chinese have never heard of the Tiananmen Square massacre; and millions of North Koreans believe in the fantastical and supernatural birth of their “dear leader”.

    Then there are those, with absolute control of the military, who simply refuse to relinquish power or even acknowledge the will of their people. From Nicolás Maduro in Venezuela, to Benjamin Netanyahu in Israel, to Donald Trump in the United States who still talks about his “stolen” election. But as bad as those who support and blindly follow are, even worse are those with eyes wide open who do – like the party loyalist who, fully aware of the truths, still support for their own advantage. For the good of we the people for them means only “their” people. To return to the status quo is apparently the new hallmark of today’s conservative republican values.

    Goals far removed

    But power does have a righteous way of tripping even the most morally insistent and purposefully persistent among us, doesn’t it? We enter the battle with good intentions, but are then tempted and diverted to other goals far removed. But considering parties and their philosophies, who really should determine the direction of a country – they the selected leaders, or us, the chosen led?

    Where big dogs and even bigger tails exist, who is in control and who is doing the wagging? Decades have passed and still the Transport Authority is all bark, no bite as route taxi drivers continue to do as they please. Guns appear on the streets like magic, yet files disappear.

    But there’s no need for an Opposition to ask uncomfortable questions. No need for any Freedom Of Information Act. No need for a truly Opposition-led Public Accounts Committee.

    Politicians love to tell us that it is the people, with the power of the vote in our hands, who keep them in check as they formulate policies on our behalf. Yet, isn’t it curious how still in 2024 it’s no different from 1974 when we were also allowed to make our single mark against one lone decision?

    And despite all today’s technology, referendums are so expensive, (I’m told). “Anyhow, no need to worry, you can trust us,” they’d say. “We know what we’re doing. You elected us to govern, and by God that’s what we will so do.”

    Cyprian La Touche is a social commentator. Email cyprianlatouche@gmail.com

    Source: Nation

  40. Donna Avatar
    Donna

    David,

    Would you please repeat for me your defence of those who bled the country and sold out? I cannot seem to find it.

  41. David Avatar
    David

    @Donna

    There will always be corruption where human beings are involved. If the citizenry usurps its role all it does it to make a bad situation worse. We have a role to play, we must not abdicate our civil responsibilities.

  42. Hants Avatar
    Hants

    milk

    https://nationnews.com/2024/09/11/ongoing-milk-snag/

  43. Pick on the blogmaster day Avatar
    Pick on the blogmaster day

    Three posts
    (1) “How are you highlighting news articles and missing the ones in Business Authority -where the former Simpson Motors / Sol, now Parkland, has established themselves as the modern plantation system with the old traditional ownership and management, and are shipping HUNDREDS OF MILLIONS in profits off to their foreign absentee owners, while our local ‘leaders’ brag about borrowing from the IMF (at great costs – including painful ’surcharges’) to survive?”

    (2) “You always cry that the masses should do more and you reprimand them for their consumption habits but when it comes to the corporate betrayal of those who have bled the country, you find ways to defend them. ”

    (2) “Would you please repeat for me your defence of those who bled the country and sold out? I cannot seem to find it.”

    🙂 The blogmaster needs to ban a few individuals. ‘Ban their donkeys’ as one blogers likes to say 🙂

  44. Terence M Blackett Avatar
    Terence M Blackett

    SEPTEMBER – THE MONTH 2 REMEMBER OR SO THEY SAY! OR IN THE WORDS OF EARTH, WIND & FIRE ( #EWF): “Do YOU REMEMBER THE 21ST NIGHT OF SEPTEMBER? LOVE WAS CHANGIN’ THE MINDS OF PRETENDERS – WHILE CHASIN’ THE CLOUDS AWAY…

    It would appear that the “CARIBBEAN BASIN” has become a “WASHPAN” for the “GOOD, BAD & UGLY” to wash their feet – where those who have been our “OPPRESSORS” & “BRUTAL MASTERS” cannot seem to relinquish “SLAVELANDIA”, doing all in their power with the help of “BACK-BITING NEGROES” to continue the ravage & pillage of our most precious resources for their own, stinking gain!!!

    The “HALLOWED HOUSE OF NIGGAS” in Barbados has all but “SOLD THE REMAINING & BANISHING SOULS” down the river for a “MERE” tuppence, allocating whatever “CROWN JEWELS” is left to the highest bidder – while “JAMAICA” et al find themselves in the throes of having to “FIGHT LIKE HELL” to safeguard the “MEMORIES OF THEIR ANCESTORS” who paid the “HIGHEST & ULTIMATE PRICE” of any “HUMAN BEINGS” who ever lived on the earth, since it was created!!!

    In the “IMMORTAL WORDS” of one #JamaicanQueen – “REMEMBER WE ARE THE ONES WHO BURNED DOWN THE PLANTATIONS…”

    With that, I’m done!!!

    #WhatAWorld
    #WhatACuntry
    #WhatMadness

  45. The OG Avatar
    The OG

    I derive no pleasure in writing the way that I do, but the truth must be told.
    Whilst some seem to enjoy writing circuitous tales and rehashing old tales of glory, it becomes incumbent on others to point out that the wheels have fallen off the bus and that we have gone over the cliff.

    Our roles is to drag them out of the years of their memories to the present time. Do you see how quickly they retreat to the past? When talking of cricket, they speak of Sobers, LLoyd and the 3 W’s and never of the current crop of failures. Sadly, their football never had a glorious age even though they will often reminisce about a few who kicked the ball ‘exceptionally’ well.

    Of course they still trot out the phrase ” we are punching above our weight”. It is painful task to point out that they have lost a large amount of weight and are now a shadow of their former self. How can you tell them that their punch would not disturb a fly in its flight?

    It is a difficult and sad job to drag them to the present. How can you listen to new laws being proposed, new processes being developed, new committees being formed, new fines and punishment being suggested and at the same time you know that most of it is just talk? How can you suffer in silence and not speak out?

    I have exercised great restraint and and have been polite in my comments, but some days I wish to abandon any semblance of politeness and scream and cuss and fight.
    Somehow, I manage to restrain myself. I derive no pleasure in writing the way that I do, but the truth must be told.

    Never negative, just the unvarnished truth

  46. TLSN Avatar
    TLSN

    Has anyone heard this news?

    https://globalvoices.org/2024/08/28/jamaicas-finance-ministers-appointment-as-deputy-managing-director-of-the-imf-a-first-for-the-region-brings-plaudits-and-some-local-concerns/

  47. Donna Avatar
    Donna

    David,

    That does not sound like a defence of those who made their fortune off the backs of black Barbadians and sold out.

  48. The OG Avatar
    The OG

    The following is copied from the link provide by TLSN. This is an example of what I consider as alternative and independent thinking. Instead of falling in line and speaking without thinking, the author take the less traveled path. Brilliant.

    “The decision of recruited Jamaican teachers and nurses to migrate is often met with scorn and derision while the recruitment of its Finance Minister Dr. Nigel Clarke, by the IMF is seen as a great accomplishment. [Clarke] is only left to be conferred with ‘National Hero’ status for not only abandoning his Ministerial post but also the abandonment of his constituents whom he swore to serve; and for no less the same reason that teachers and nurses leave – [more] money and status.

    Make no mistake, but at the heart of any successful recruitment, it is personal gain, not altruism, that anchors the process. At the same time, that recruitment robs the recruited country of one more of its educated and trained personnel. The exercise adds to the pile of human resource loss and cements Jamaica as being the second most affected country in the world in losing its human capital.

    What then is the difference between Minister Clarke’s recruitment and that of our teachers and nurses?

    Our hypocrisy knows no bounds.”

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