… Kevin Greenidge, explained that the “win-win” 18-month programme is designed to repurpose government’s expenditure, in an effort to push capital programmes that do not directly relate to tourism; for example, road works, the Barbados Water Authority’s vineyard project, the refurbishment of schools and the digitization of the public sector… Source: BGIS The government launched the Barbados Optional Savings Scheme
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Discussion on the blog Donville Inniss Case Points to Endemic Corruption in Barbados after reviewing the 2018 financials of BF&M – parent company of ICBL – revealed there is a company called Insurance Corporation of Barbados Limited Limited/National Insurance Board Joint Venture (“ICBLJV”). Barbadians have been concerned in recent years the ease with which politicians commit NIS resources to questionable projects.
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Well done to our Pan American games athletes. Many gave impressive performances and qualified for the final of their events. They have demonstrated that they are internationally competitive. To improve their training and attend other competitions, our athletes need funds. So, how can we support them? One method is for the public to invest in the development of our athletes.
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Many issues of the day continue to question our ability to govern. One of them is the health of the National Insurance Fund (NIF). If you listen to the politician while in Opposition, it is a fund under stress. If you listen to the same politician on attaining the office of government, the NIF is described in more positive terms.
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The following (with minor edit) is a comment posted by Walter Blackman to BU blog Whimpering Opposition. – David, blogmaster David April 27, 2019 8:48 AM “First thing this morning and we are off to the races attacking people instead of debating the real issues?” David, Through the vehicle of BU, you are getting a very deep insight into the
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Some soldiers are so terrified of the horrors of war, that they intentionally harm themselves so that they can be transported away from the battlefield and receive priority medical treatment. I am very sympathetic to soldiers who have been prematurely deployed to the battlefield. A properly trained soldier has accepted the responsibility of defending citizens, which may require the ultimate
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Ten years have elapsed since the 2008 global financial meltdown left Barbados exposed for the open economy we have been taught it is in primary school. Across the Caribbean our little economies find themselves in the same boat with high debt to GDP and rotting infrastructures, rising corruption and a dearth of leadership. Barbados WAS considered the gem of the
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Walter Blackman is an Actuary and responded to the following comment by the blogmaster as under. It may seem a trivial observation to make but make it the blogmaster must. How did Jepter Ince qualify to be appointed Chairman of the NIS? David October 5, 2018 12:53 PM “Thanks for lending your expertise to this matter Walter. Have you
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The following comments by Northern Observer were extracted from the NIS.Government Paper for Trash blog. Comment 1 October 1, 2018 1:25 AM WHO is on the NIS Board? WHO replaces Carrington as head executive? I rarely agree with T.Inniss, but what claims to Chairmanship or leadership of a body as complex and important as the NIS does Mr. G-E have? Being
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The blogmaster thought it timely to highlight one of several NIS blogs in a COVID environment for obvious reasons. After many years of calling for certified audited financials spanning different governments we are none the wiser – David, blogmaster Is it irrational for citizens of Barbados to lend their accumulated savings , gratuities and separation packages to the GoB? Based
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On Wednesday, November 8, 2017 the Nation published a column captioned, “Not a pretty picture” by Dr. Frances Chandler. I generally agreed with much of what she had written. For the most part, she criticised many of the shortcomings of the National Insurance Scheme (NIS), justifiably so in my opinion. I was actually enjoying her contribution until three-quarters was through
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The 15th actuarial review of the Barbados NIS is special in that the report was written at the end of the first 50 years of the scheme’s existence. This review therefore gives us an opportunity to see to what extent the NIS reflects the negative features and characteristics of the Barbadian society and economy which have emerged since independence. The
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When government debt is viewed with NIS holdings excluded, the implicit assumption is that these assets are not “real” and that government raising taxes to repay the NIS is akin to raising the contribution rate on NIS contributors. This is because government tax revenue and NIS contributions come largely from the same sources – businesses, workers and consumers. While the
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Dr. Justin Robinson weeks after issuing a vacuous statement about the state of the NIS Fund is at it again. This time with an even more muddled and muddied message under the title CLOSER LOOK AT DOWNGRADES. The BU household tried- in vain- to understand the objective of Robinson’s exercise to explain what the credit rating downgrades mean for Barbados.
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Following my last column about the National Insurance Scheme (NIS), several people, who were having problems with that government department, sought my assistance. Today, I would like to share the experience of two persons since the troubles, they were forced to endure to get unemployment benefits, show up fundamental problems with the processes at NIS. They were informed verbally that
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On Sunday, September 3, 2017 the front page of the Sunday Sun carried an item in which the Director of the National Insurance Scheme (NIS) is reported to have said that workers took an inordinate amount of sick leave only to find on retirement that their pension payments had taken a hit. He is then quoted as having said: I
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BU has not had the opportunity to thoroughly review the delayed release by government of the 15th Actuarial Review of the National Insurance Scheme. It is a very important fund- a safety net and lifeline- hence the reason BU has been uncompromising in our calls for transparency in the management of the fund. The inability of the fund to publish
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‘The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.’ – IMF Website The
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