Restoration of confidence

Despite the challenges facing the economy and expectations of slow growth over the next year, Central Bank Governor Dr Delisle Worrell is reporting that investor confidence has returned to the local economy.

And he says it’s a result of Government’s fiscal programmes announced in the August 2013 budget and reinforced by measures announced last December.

The level of confidence, he suggested, meant that those strategies were “essentially the right” ones.

“Confidence has come back,” Dr Worrell said at a media conference at the Central Bank earlier to day to discuss Barbados’ 2013 economic performance and projections for this year.

“The thing that we all recognized, and we have emphasize it in the central bank, is that we protect our exchange rate anchor and the value of our dollar by maintaining an adequate level of foreign reserves. So when we saw the rate at which our foreign reserves were declining in the second half of last year people naturally became nervous. We cannot blame them. That is why we had to take very firm fiscal action because that is the way we correct that situation,” he explained.

He said, however, those strategies, which are expected to run until the end of the 2015 fiscal year, needed to be “refined”.

10 Responses to Restoration of confidence

  1. Wayne T Griffith
    Wayne T Griffith January 15, 2014 at 4:15 pm

    I see no evidence that this is true. The MoF made some spectacular pronouncements recently but his track record leaves a lot to be desired.

  2. Ryan Bayne
    Ryan Bayne January 15, 2014 at 4:17 pm

    All confidence gone. Therefore no confidence.

  3. Ryan Bayne
    Ryan Bayne January 15, 2014 at 4:23 pm

    Hogwash, if you tell me.

  4. Michael A Clarke
    Michael A Clarke January 15, 2014 at 4:23 pm

    You can fool some of the people all the time ……..

  5. Angel OfThunder
    Angel OfThunder January 15, 2014 at 4:27 pm

    If this is what people usein there learning to do to deceive bajans its not goin to work on every body,me I look for fruits not talk cause wanna like this pretty talk not me I like to see action……

  6. Angel OfThunder
    Angel OfThunder January 15, 2014 at 4:28 pm

    Action not acting,this no movie this our lives wanna playing with …..

  7. Angel OfThunder
    Angel OfThunder January 15, 2014 at 4:48 pm

    Jesus didn’t go to school because he knew that its not salvation it cant save the soul only God can do that,the professionals in his day said who is this young man who’s his mother an father he haven’t been to our schools how he know all these things,in other words christ was thinking outside the box an that is the problem here we think inside of a box in Barbados because a man say he went to school doesn’t mean he a leader,it might get him a good job but leadership is a very high calling….

  8. Angel OfThunder
    Angel OfThunder January 15, 2014 at 4:56 pm

    Because u have a good school back ground doesn’t mean any thing are u a leader can u carry us safely to find our true selfs….

  9. Angel OfThunder
    Angel OfThunder January 15, 2014 at 5:02 pm

    If bajans know how powerful this Nation is they would not stand to see bad leadership they will want the best honest of leadership in this country not just any any body to hold that office…. .

  10. Angel OfThunder
    Angel OfThunder January 15, 2014 at 5:15 pm

    I know bad leadership even a blind man can see that….


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