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Arthur warns economy heading down slippery slope

Former prime minister Owen Arthur is warning that the barbados economy is headed down the same slippery slope that it’s Caribbean neighbours, Jamaica and Guyana went some years ago.

And he blames the Central Bank’s printing of large sums of currency to accommodate the Freundel Stuart administration’s unsustainable fiscal deficit.

Delivering the inaugural Independence lecture of the School of Politics yesterday evening at the Cricket Legends of Barbados, Arthur said the Central Bank had printed $370 million to purchase Government Treasury Bills and this was the chief factor that has triggered a dramatic drop in the country’s foreign reserves.

He warned that if the situation is not rectified, Barbados’ economic affairs will enter “new and very dangerous territory.”




16 Responses to Arthur warns economy heading down slippery slope

  1. Erin Browne
    Erin Browne November 25, 2013 at 8:03 am

    Heading? We’re there!

  2. PhatKat Kalonji
    PhatKat Kalonji November 25, 2013 at 8:11 am


  3. Renny Johnson
    Renny Johnson November 25, 2013 at 8:56 am

    Really, they just worked this out? Where have they been, certainly not living in bim

  4. Ainsley Warthug Crawford
    Ainsley Warthug Crawford November 25, 2013 at 9:10 am

    Arthur should go and rest he self doe….

  5. Alx Edg
    Alx Edg November 25, 2013 at 9:29 am

    ….But if you had been able to get back in power, de water would be running ‘up’ slope….right???

  6. Sisi Kitty Greenidge
    Sisi Kitty Greenidge November 25, 2013 at 9:57 am

    oiled, mossy and with a pool of water covered with thin ice.

  7. David Bowen
    David Bowen November 25, 2013 at 10:00 am

    Solid advice from the former PM… Solid, insightful, timely. Thank you Sir!

  8. Ellena Bowers
    Ellena Bowers November 25, 2013 at 10:50 am

    There would be more confidence for foreign investors to come to Barbados. The country would be in a better fiscal position for sure! Just watch and see what your current government is going to do to Barbados.

  9. Ryan Henry
    Ryan Henry November 25, 2013 at 11:51 am

    I was born and bred a democrat and them jokers making child’s play wit my kids future, all my hopes dwindled De day Arthur lost the election. Arthur is the solution

    • Ryan Bayne
      Ryan Bayne November 25, 2013 at 9:59 pm

      And they’ll soon be the laughing stock when they’ll lose the next election.

  10. Jaye Thompson
    Jaye Thompson November 25, 2013 at 2:59 pm

    Trust me Erin, we are not there yet and neither do we want to be.

  11. David E Hall
    David E Hall November 25, 2013 at 3:09 pm

    Sound advice, but I fear that it will not be heeded.

  12. Ryan Bayne
    Ryan Bayne November 25, 2013 at 9:57 pm

    WAXXX!!!!!!! Quicksand down in we back. Peter Ram said so since 1991.

  13. Ryan Bayne
    Ryan Bayne November 25, 2013 at 10:00 pm

    Strong words from the best economist.

  14. Arther Lashley September 6, 2014 at 10:12 am

    What is the word that denoted actions TOTALLY and ABOVE stupidity?

    Whatever it may be; it still does not encompass the actions of the actions of the Anarchistic MOB that have Barbados as their own private bank and in their hands to let run to ruin.

    Who ever would have imagined (in their most awful nightmare), MR F Stuart as PM of this wonderful country.

    He was placed as Deputy PM by people who wanted someone who was of absolutely, no consequence, no threat to them.
    A nobody , who would just collect “his rent” and deliver his vote to their wishes.
    Someone who was NO THREAT as he was totally without, ambition.
    Now by default, handed this Rock to do as he wishes with.
    To run as a lawyer runs his practise.
    Screw everyone for the Biggest amount possible, with regards only for your own welfare and bank balance.

    He was a NOBODY, now he is an EVERYBODY.
    EVERBODIES bane and trial .
    How many lawyers do we ALL KNOW and HOW MANY of them would we choose to run our Country?

    He is an INCOMPETANT ,has big words and is well read, but still TOTALLY out of his depth , a boy in a mans suit.

    Taking us with him on his road to PERDITION.


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