We’re not junk!

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Prime Minister Freundel Stuart has condemned the Opposition for calling Barbados junk.

Stuart issued this condemnation of the Opposition Barbados Labour Party today in the House of Assembly while speaking on the Consolidation Tax Bill.

The Prime Minister said: “Credit ratings do not only apply to countries. Countries have credit ratings; so too do companies; corporate personalities; and so too do individuals. There was a time in my life when I had no credit rating, and that is true of over 75 per cent of the population of Barbados.

“They cannot go to a bank and get a loan because of their credit rating. That is true of people in The Ivy and in My Lord’s Hill and Bayland and in Britton’s Hill and in Westbury Road. But that does not make the people junk.

“That does not mean that they are not good fathers. It does not mean that they are not good sportsmen; it does not mean that they are not worthy members of the Men’s Fellowship or the Mothers’ Union. It does not mean that they are valueless persons. All it means is that in one area of their lives – that is the area of the ability to borrow money comfortably – they have a challenge.

“The same thing goes for a company. There are small businesses in Barbados that have no credit rating, but they are still trying to employ people and bring some fulfilment to their lives. I, therefore, cannot accept any argument that says, as the Opposition likes to say, that Barbados is junk because its credit rating is challenged by rating agencies. I do not accept that.

”Barbados is still one of the most coveted developing [countries] in the world. We still have a literacy rate that is the envy of people all across the world. This country is still a slice of paradise for people who visit us, whether they come here just for holiday or to invest.

“We are still number one in Latin America and the Caribbean in the United Nations Development Index. We are still at number three in the Americas on the UN Human Development Index, ranking only behind the United States of America and Canada. On the Transparency Index, we are ahead of a whole set of developed countries, and in relation to corruption, we are ranking above many countries which are larger and more powerful than ourselves.

“We are not junk and in the 47th year of our Independence, I deprecate and deplore anybody coming in here and talking about Barbados is junk,” the Prime Minister added.

The St Michael South MP went on to say that Barbados was still one of the most coveted piece of real estate to be found anywhere in the world; yet for cheap political gain the Opposition was calling the country junk.

“If you are calling the country junk because its credit rating is challenged, you are calling your constituents junk because their credit rating is challenged; and I do not accept that. Credit ratings do not only apply to countries, [they apply] to

companies, and they apply to individual households as well. I know the days when if my life depended on it, I could not go to any bank and get a loan. That is true of most of us.

“The parliamentary representative for St Michael East has to know that. The member for St George North has to know that. The Honourable Member for St James North may not know about it, but that is not his fault. It is not a criticism; just that circumstances shielded him from the uglier experiences of every day life,” Stuart argued.

26 Responses to We’re not junk!

  1. Claire Battershield
    Claire Battershield November 27, 2013 at 10:10 am

    Just you

    Reply
  2. Philip Matthews
    Philip Matthews November 27, 2013 at 10:14 am

    Barbados is not junk but it still has a Junk Status !!!!!all thanks to the reckless spending by the DLP administration .

    Reply
    • William Smith
      William Smith November 27, 2013 at 10:19 am

      How many times was the dlp in power and not screw up??

      Reply
    • Damian Mascoll
      Damian Mascoll November 27, 2013 at 10:20 am

      Reckless spending on what exactly?

      Reply
    • Philip Matthews
      Philip Matthews November 27, 2013 at 10:23 am

      if you have to borrow to pay people you are spending money on projects that you cannot afford , simple Arithmetic .

      Reply
    • Ryan Bayne
      Ryan Bayne November 27, 2013 at 10:25 am

      Not only that, but the $600 million stimulus package which we ain’t see yet for the year. The Government is so impotent that it badly needs some Viagra before Barbados end up in a Coffin.

      Reply
    • Philip Matthews
      Philip Matthews November 27, 2013 at 10:27 am

      $370 million printed with nothing to maintain the value of the Barbados Dollar .

      Reply
  3. Prince Nick
    Prince Nick November 27, 2013 at 10:21 am

    tell that to S&P and dont se ethem donwgrade yah further

    Reply
  4. CK HD
    CK HD November 27, 2013 at 10:22 am

    He’s now beginning to speak like a defeated man…his words are true Barbados is not and can never be junk…he however must contextualise his views let’s not get ‘side blinded’ to the real issues at hand…junk status isn’t to say we don’t have our values as a people or nation…what it does mean however is that the same man in Westbury road and Brittons Hill will find it even harder to feed himself and his family

    Reply
  5. Ryan Bayne
    Ryan Bayne November 27, 2013 at 10:25 am

    Not only that, but the $600 million stimulus package which we ain’t see yet for the year. The Government is so impotent that it badly needs some Viagra before Barbados end up in a Coffin.

    Reply
  6. Mechelle Jarvis
    Mechelle Jarvis November 27, 2013 at 10:37 am

    lol

    Reply
  7. Mechelle Jarvis
    Mechelle Jarvis November 27, 2013 at 10:37 am

    lol

    Reply
  8. David E Hall
    David E Hall November 27, 2013 at 12:15 pm

    The PM’s responses, whenever they do come, are often childish, illogical and betrays a naivety that should be beyond his years. By the same token, When we say Barbados or any entity is number one, it does not mean it’s the best in the world, it simply means that based on whatever criteria has been set, and those competing under the guidelines, it has achieved that status. Similarly if rating agencies classify us as junk, we all know it is not aimed at citizens and to be taken personally, it means that investors are not likely to trust us (Barbados) with the investments, which we need to help our economy. Therefore, rather than make an impassioned plea aimed only as eliciting sentiments from the political die- hard, yard-fowls and the uninformed, and Rather than talk ‘JUNK’ the PM needs to get his act together before our currency is devalued bringing un-told hardship to Barbadians and the country becomes junk status in reality, as it now had become metaphorically in the eyes of the investors.

    Reply
  9. David E Hall
    David E Hall November 27, 2013 at 12:29 pm

    Mr. PM when people have their money to invest them not coming to ask your opinion or your narrow political interpretation of the data, they go to people like Standard s and poor’s to guide them. Stop behaving like you think we in Barbados don’t understand what the international community mean they say we are junk status, and stop behaving like you don’t know that we understand how you only hiding behind a lot of needless emotion to cover your ineptitude.

    Reply
  10. Mac10 November 27, 2013 at 12:53 pm

    Actually Mr. PM. In the eyes of a bank, if you have no or poor credit rating, you are valueless!!!! Banks operate from the premise that if you don’t need the money they are willing to lend it to you. If you do need the money, then you need to look elsewhere.

    Reply
  11. Ian Walcott-Skinner
    Ian Walcott-Skinner November 27, 2013 at 1:27 pm

    What utter garbage. Stop the rhetoric. No one is calling Barbados junk. We are all intelligent to know what junk status means. Wake up!

    Reply
  12. Prince Nick
    Prince Nick November 27, 2013 at 3:27 pm

    Well at Claire , Ryan David abd Philip i keep hearing the 16 members on the govt side telling us to 1) sacrifce, all hands on deck, and to wrap our self in the flag….

    Reply
  13. Claire Battershield
    Claire Battershield November 27, 2013 at 3:29 pm

    I would like to tell them what to wrap and where and while at it let their bodies be taken out to the fartherest part of the ocean .That would be the most patriotic thing done EVER

    Reply
  14. Prince Nick
    Prince Nick November 27, 2013 at 3:34 pm

    lolssssssssssssssssssssssssssss

    Reply
  15. Prince Nick
    Prince Nick November 27, 2013 at 3:43 pm

    5 months ro find 500 mil to pay ppl let we wait and see

    Reply
  16. J.C. P.
    J.C. P. November 27, 2013 at 9:33 pm

    He woke up again! weeks later…

    Reply

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