Barbados Money, Money More Money

Submitted by People Democratic Congress (PDC)

The fact that Barbados money/currency whenever made is made overseas is not doubted. Furthermore, whenever whatever the amount of Barbados money/currency that is made, it is paid for from out of the net international reserves of the Central Bank of Barbados. These reserves have come through various sources, e.g. they have come through those persons and enterprises in Barbados that have been complying with the relevant laws, their having to hand over to the Bank, much of the foreign exchange that they would have obtained through national sectoral activities geared towards foreign exchange generation; have come through private and government sector foreign exchange borrowings which are lodged with the Bank, etc.

Whereas the cost of producing Barbados money/currency is NOT much in terms of the foreign reserves used up when such money is being produced, in the final analysis it is still Barbados money/currency which has to be used in the local political economy and the services industry.
So, one of the very  unflattering things about those very huge, disgusting TAX minuses (mentioned in this now four part series) would have been that, throughout  the course of those 23 years, these intellectually politically bankrupt DLP/BLP Governments did go on to eventually make use of the monies that they had illegally come by.

They, et al, made sure that payments for  government workers for work done – here and overseas – and made sure that government welfare checks, old age pensions, etc. for those persons who were qualified to receive them – were done and received, whereupon, all of the recipients, in turn, satisfied their own desires and purposes by buying food and drink, clothing, toiletries, paying bills or saving.

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A Pressing Need To Transform The Barbados Economy

Submitted by People’s Democratic Congress (PDC)

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Barbados is presently undergoing its worst period of material production distribution decay since the 1930s. And having recorded its third successive year of material production financial decline in 2010, the country is set to maintain this very ignoble trend for the fourth successive year in 2011 – a very unprecedented happening in this nation’s relatively short history.

From a structuralist ( production exchange ) perspective, this decay is far worse than the crisis period of 1990-1992, which was a most tumultuous time in the country’s de/development. This was a very sordid chapter in the national experience, a time, when there were huge unsustainable deficits both in the government’s fiscal accounts and in the country’s current account of the Balance of Payments, and when there was severe foreign exchange haemorrhagingg taking place in the international reserves of the country ( money issues).

Yes, these events were precipitated by gross and reckless DLP mismanagement of the government’s and the country’s financial affairs in the said late 80s and early 90s, and, too, were accelerated through persistent over-use by BLP/DLP Governments/and by some private sector institutions of many old, tired, failed politico-material production models of national development.

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