No devaluation

Minister of Finance Chris Sinckler (centre) chats with Lalu Vashwani and Lisa Gale.
Minister of Finance Chris Sinckler (centre) chats with Lalu Vashwani and Lisa Gale.

Barbadians have been assured that their dollar will not be devalued as is being suggested in some quarters of the society.

Minister of Finance and Economic Affairs, Chris Sinckler also dismissed reports that the country was likely to enter a programme with the International Monetary Fund by June.

Addressing the annual general meeting luncheon of the Barbados Chamber of Commerce and Industry luncheon at Hilton Barbados yesterday, Sinckler also described as rubbish, comments in some circles that the Government had to come clean on the economy.

He said there would be no IMF programme, now or anytime in the foreseeable future once the country does what it is supposed to do. The minister insisted that Government needed to continue to take bold measures to protect its foreign reserves.

He argued that if efforts to strengthen the economy were not based on productivity the country could collapse, making the island a colony of the IMF.

His submission was that Government could not turn around the economy on its own, it needed the assistance of the private sector.

“We therefore see our collective destinies tied up together. Our success is yours and yours is ours,” he said. “As Minister of Finance and Economic Affairs, I am acutely aware of this, and as such I have sought not only to ingest your culture, views and ways of doing things, but equally to present an open door policy to all in the sector;

One Response to No devaluation

  1. Intheknow June 26, 2013 at 2:48 pm

    ‘Government could not turn around the economy on it’s own..’ This is the understatement of the year. It is the private Sector that must earn to feed the massive Public Sector beneficiary> all Government needs to do is ‘get out of the way’.

    Reply

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