Budget 2016 Update: Sinckler says no new limits to be imposed on foreign exchange.
Finance Minister Chris Sinckler assures the Government will not be introducing any special measures to limit citizens or businesses from accessing foreign exchange in Barbados.
“What is already provided for in the Exchange Control Act of Barbados is sufficient. Indeed, any casual observer of how the foreign exchange market has evolved in Barbados over the last 10 to 15 years would conclude that far from putting restrictions both this administration and the last have in fact liberalized such controls progressively.
“There are no conditions at present that would lead us to conclude that we need to reverse that stance. Equally, there is nothing in the current or medium to longer-term trends to even remotely suggest that any adjustment to the official exchange rate in Barbados is required.”