Category Archives: Barbados Economy

Minimum Wage (Yes) Timing (No?)

Whether studying the issue in the classroom or conversing in a rum shop the amount and timing of the implementation of a national minimum wage generates robust discussion in any country. Pros and cons are easy to find on both sides of the contentious issue. The Barbados government some suggest are moving like the proverbial bull in a china shop

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Outlook is Gloomy

Dr. Kim Quimby, a Lecturer in Immunology at UWI, Cave Hill appointed to the committee to advise the government of Barbados on the selection of vaccines issued the following chilling pronouncement recorded elsewhere in the press. I don’t think anyone can say at this time when we will get back to normal. There are just a lot of variables going

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Rebuilding Barbados

Submitted by Peter Lawrence Thompson The pandemic is a paradox; on one hand it has destroyed our major industry, but on the other it is giving us a once in a lifetime opportunity to rebuild a much more resilient economy around services that we provide digitally to the global marketplace. Our economic future is under a dark cloud because the

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Post Covid 19 World Demands New Approaches from Government and Private Sector

The Adrian Loveridge Column usually occupies this space on Monday mornings. The blogmaster takes this opportunity to thank Adrian for being a strident social commentator over the years and willingness to enter the BU fray, especially as it relates to promoting and defending the tourism sector he is very familiar. The BU household extends best wishes as he takes a

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Kemar Stuart on IMF Reform to Public Service Pension System

The recent announcement by the IMF states that Barbados is in line for reform to it’s pension system. With drastically reduced revenue intake due to Covid-19, the expenditure associated with pensions , gratuity and retirement benefits will of course take the spotlight . The intended pension reform is preparing government for the reality of an ageing population, declining birthrate, declining

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IMF Gives Barbados a Nod with Comments

The raging Covid 19 pandemic continues to test human and financial resources of all countries especially Small Island Developing States (SIDs). Many have forgotten that before the pandemic the sorry state of the local economy. Despite the nod from IMF Van Selm (Mr. BERT) that “in this very challenging environment, Barbados continues to make good progress in implementing its ambitious

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Fourth Review – IMF’s Extended Arrangement under the Extended Fund Facility for Barbados

Reproduced from the IMF Website – David, Blogmaster December 9, 2020 The Executive Board of the IMF concluded the fourth review of the IMF’s extended arrangement under the Extended Fund Facility (EFF) for Barbados. The completion of the review allows the authorities to draw SDR 65 million (about US$94 million). Access under the extended arrangement has been augmented by SDR

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