The Governor of the Central Bank Kevin Greenidge is scheduled to deliver the Quarterly Review of Barbados’ Economy today at 11AM. One suspects his delivery will follow the usual script – the economy is continuing to do well on the back of tourism. He will applaud a recent decision of the IMF to ease surcharges on borrowings. If we are lucky Greenidge will apprise Barbadians of the millions in savings on current and future borrowings.
The IMF’s Managing Director Kristalina Georgieva made the time at a press conference in Washington recently to identify Barbados and Jamaica as performing above the global average for economic growth.
In related news the following video highlights the challenge faced by some Americans unable to pay utility bills. Importantly, the inability of the government to effectively regulate affordable rates is the cry. Sounds familiar?
It seems rate increases in Arizona are being approve based on complicated calculations and politics – nothing to do with if citizens can afford to pay high rates. Consumer advocates are being marginalised from the process. Sounds familar?
The consensus (supported in the video above) is that rate agencies like the Fair Trading Commission (FTC) are focused on supporting profit margins of utility companies at the expense of rate policy in the interest of consumers as mandated in the consumer protection legislation. Sounds familiar?
Regrettably the average Barbadian is fast asleep at the wheel while the shadow players continue to laugh all the way to the bank. It probably explains why the plan for Barbados to aggressively penetrate with renewable energy has been derailed because our capacity to store energy was not in the plan.
Thanks to BU family members for sending the two videos.
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