Tag Archives: Central Bank of Barbados

We Must Ring-fence the Central Bank!

A recent contribution in the Senate by Senator Rawdon Adams continues to resonate with the blogmaster – Senator Rawdon Adams Sobering Intervention in the Debt Restructure Debate. What was responsible for the Barbados brand? A brand that was the envy of the Caribbean and wider afield? A key element that contributed to brand Barbados was the respect locals and those afar

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Barbados’ 2017 Six Months Economic Performance Labeled as ‘Uneven’

The Barbados economy registered an uneven performance during the first half of the year. Preliminary data suggest that the expansion in real economic output continued into the second quarter, primarily reflecting sustained growth in tourism activity. The fiscal deficit narrowed moderately in the first quarter of fiscal year (FY) 2017/18, partially the result of the fiscal consolidation measures implemented in

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The Caswell Franklyn Column – Prime Minister Come Clean on the Sacking of Governor Worrell

Today I intended to write about the functioning, or rather, the non-functioning of the system that was set up by the Employment Rights Act to settle disputes, particularly claims for unfair dismissal. I wanted to point out that it is at best amateurish and that it is failing miserably to meet expectations. But I felt a tug that forced me

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The Jeff Cumberbatch Column – Enjoining a Dismissal

Wonderful to relate, or “mirabile dictu”, as my two Latin masters of long ago, Messrs. Wellington and [CQ] Williams, would have preferred, I do not find it necessary today to resume my analysis of the Trump presidency; a phenomenon that seems anyway to be imploding towards self-destruction. Moreover, there is sufficient drama being played out in our own front-house to

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Government Between a Rock and a Hard Place With General Elections Looming

Submitted by Inkwell 1. Consider this argument. The Central Bank (CB) Governor has refused to print any more money for the Minister of Finance (MOF). The MOF needs printing to continue to pay civil servants and keep Government running. If the Government can’t pay the civil servants this month, all hell will break loose. Therefore the CB Governor has to

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Is Governor Delisle Worrell Preparing Barbadians for a Contraction in the International Reserves?

The Governor of the Central Bank Delisle Worrell posted a full colour page in today’s media titled “More Foreign Reserves are not Necessarily Better”, the thesis of which is,  “Countries should maintain foreign exchange reserves sufficient to allow time to adjust to the vagaries of international markets, so that banks and traders do not become apprehensive about the value of

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Rush for Savings Bonds

Sometimes one has to wonder. The media and analysts have been mostly silent to explain reports two 10 million and one twenty five million savings bond issues have been fully subscribed within hours of being floated. The recent decision by the Central Bank of Barbados to remove the regulation to pay Barbadian a minimum savings rate BU suspects […]

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Sack Worrell and Sinckler

In May this year Governor Delisle Worrell issued a directive to ban the Nation newspaper from participating in press conferences hosted by the Central Bank of Barbados. His action provoked wide condemnation from every corner within in civil society. The Governor and Central Bank obviously yielded to the pressure and public expectation reverted to the Governor having his routine press 

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Walter Blackman’s Perspective on Devaluation and ‘Printing Money’

As a result of the perilous state of the Barbados economy, accentuated by a recent 3 notch downgrade by Moody’s and a follow up visit in June by the IMF after a worrying Article IV Consultation in December 2013, the conversation about devaluation and management of government debt has become a topic of national interest. In the public’s interest BU

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Central Bank and the Nation Newspaper – Bank Regulator and Media House

The Central Bank of Barbados respects and embraces freedom of the press and the importance of the dissemination of timely and accurate information and as such has not banned the Nation Corporation. The front page of the Sunday Sun of May 11, 2014, carried the headline “Cut Off”. The Bank assures media practitioners in Barbados as well as the public

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Central Bank of Barbados: Political Tool or Facilitator of Economic Development?

Submitted by the Mahogany Coconut Think Tank and Watchdog Group We are not a bit surprised that former Governor of the Central Bank, Sir Courtney Blackman is blaming both the Barbados Labour Party and the Democratic Labour Party for the current financial woes. We are also not surprised, that the current Governor, Dr. DeLisle Worrell, is saying that the existing

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