IMF bound

Mottley warns of what is likely to come

Guyana’s decision to temporarily suspend trade in Barbados dollars might be a sign that this island is headed to the International Monetary Fund, Opposition Leader Mia Mottley has warned.

Last Thursday, the Central Bank of Guyana announced the move, saying the amount of Barbados currency on the Guyana market had jumped from $8 million in 2014 to $13 million as at last week.

The bank was particularly concerned about the high volume of Barbados dollars being traded in Georgetown for United States currency.

Addressing a Barbados Labour Party (BLP) rally at Top Rock, Christ Church last night, Mottley cautioned that this shelving of the Barbados currency could be a prelude to an IMF intervention.

“The Guyanese stopped taking our currency in 1991 just before Barbados and Sandiford, under the Dems [Democratic Labour Party], went to the IMF,” she said, while reminding supporters of the mass protests that eventually led to the fall of the Erskine Sandiford (now Sir Lloyd) Government in 1994.

Mottley blamed Prime Minister Freundel Stuart and Minister of Finance Chris Sinckler for the current state of affairs.

“They put you in this ditch. Nobody else but them,” she said, while asking: “How in all good conscience can we have a Prime Minister and a Minister of Finance that refuse to talk to the people of this country?”

Amid rumours of Government entering a new arrangement with the IMF, the Opposition Leader further suggested that the administration might have already committed, or was about to commit Barbados to some form financial bailout arrangement without announcing it publicly.

“Tell us what you are doing, or have already done in our name, because it is not for me, the Leader of the Opposition, to tell this country, but it is for me to make sure that the people of this country are told,” she urged Government.

“If things are being done in our name, if things have been done in our name, you have a duty to come to the people of this country and tell us the truth, and tell us how bad it is.

“That is the least that they must do as those who lead this country,” she insisted. 

21 Responses to IMF bound

  1. Russell Reece
    Russell Reece December 13, 2016 at 1:55 am

    there won’t be any coming back if we’re headed to the imf. i wonder how the public feels about how things are going?

    Reply
    • Penny-Ann Waithe
      Penny-Ann Waithe December 13, 2016 at 5:20 am

      Seems like they just don’t care or can’t be bothered

      Reply
    • Nikolaos Yarde
      Nikolaos Yarde December 13, 2016 at 5:39 am

      Yawn we went already and paid back

      Reply
    • John Herbert
      John Herbert December 13, 2016 at 6:00 am

      The records show that we also went to the IMF under the BLP.

      Reply
    • Pullhead Davis
      Pullhead Davis December 13, 2016 at 6:03 am

      Yep but blp had m.o.f who knew what he was doing this one dont

      Reply
  2. Pullhead Davis
    Pullhead Davis December 13, 2016 at 6:04 am

    Sandiford went imf dont have conveinent memory

    Reply
  3. Patrick Lynton
    Patrick Lynton December 13, 2016 at 6:04 am

    Yes they went but not when you are down in the bottom of the well that is a big difference you still had something to bargain with
    These people head to hard.

    Reply
  4. Dan Vaughn
    Dan Vaughn December 13, 2016 at 6:09 am

    Signs of the timez gee

    Reply
  5. Greengiant December 13, 2016 at 6:52 am

    Guyana also stopped trading in T and T dollars too as there is a tremendous increase on their local market also. So does that mean that Trinidad is entering or has silently entered into an IMF agreement too?

    I wonder if they are log books with maintenance records and history because these problems occur over time. It would be interesting to know how much money had been spent during the fourteen years they were in office on sewerage maintenance.

    The west coast project was on the books of the BLP as well, but the West coast property owners didn’t want it on or near their properties so the further relocating of Chapman lane residents will be necessary, the playing field at Murphy pasture will be lost to the extension of the Bridgetown plant to take the West coast sewerage.

    So my lady friend you too should tell Barbados the full story about the Chinese bank financing and the very expansive upgrades for both plants. What you may not know though is that the current water meter upgrade done by Innotect (WMC) joint venture will provide the mapping of households facilitating a sound design for future treatment plants not like the BLP’s poker style approach that has now seen the plants treating twice the quantity of sewerage they were designed and built for. This maybe is the cause for the frequent breakdowns which we barbarians should remember many years ago when the people of Bridgetown suffered with the regular stench emanating from the plant in lakes folly. So Mia take your time and plan your campaign properly. Stop the red herring hunting in every pond that occurs. These ponds only appear to be oceans but they will dry up quickly as you should have learned by now.

    Reply
  6. Carson C Cadogan December 13, 2016 at 7:58 am

    As usual she has no idea what she is talking about.

    All fearmongering and DOOM AND GLOOM on her part her accustomed strategy , as she believes this is the only way for the Barbados Labour Party to win a general election in Barbados. Try to frighten some people all the time.

    Is Trinidad on its way to the IMF as well Mia?

    Reply
  7. Antionette Sealy December 13, 2016 at 8:37 am

    @ Carson, don’t bother, she is like a XMAS morning balloon i.e blown up to the max and then by midday the air is let out by Freundel with a pin. lol

    Reply
  8. Zeus December 13, 2016 at 8:43 am

    Women don’t like brek men…..men don’t like break down cars …..children don’t like broken toys ….why are you so eager to take over a broken down country

    Reply
  9. Ossie Moore December 13, 2016 at 11:08 am

    Few Barbadians build any thing but many produce drama and rhetoric !

    Reply
  10. The Black Caucus - Barbados December 13, 2016 at 11:27 am

    The country is in decline, and the sooner we take our heads out the sand and see the country the way others see it, the sooner we can fix the issues that are holding back the development of this great nation.

    We only need to read more widely to discover how we are perceived internationally, and fuelled with that knowledge we, as a country, should not only claw back to our late 60s early 70s position, but drag ourselves into 21st century standards.

    Bureaucracy, corruption, poor customer service and a general lack of pride in quality of what we do, are the main factors that we can actively influence and change as citizens.

    We should not wait for politicians to do the right thing, we should demand that the represent us as we have instructed.

    Inviting the IMP into Barbados when we are near rock bottom will not be good for us as a nation, but maybe it will shake us awake.

    Maybe it will shake out some of the practices that are not only holding our country back, but are sending the nation into decline.

    We need to compare ourselves to other countries, and implement better practices to meet international standards.

    Only this will make our country more competitive, and thus more lucrative.

    Reply
  11. Carson C Cadogan December 13, 2016 at 3:59 pm

    Here is a little story which exemplifies MAI AMOR MOTTLEY.

    HENNY PENNY

    “ONE day Henny-penny was picking up corn in the cornyard when–whack!–something hit her upon the head. ‘Goodness gracious me!’ said Henny-penny; ‘the sky’s a-going to fall; I must go and tell the king.’

    So she went along and she went along and she went along till she met Cocky-locky. ‘Where are you going, Hennypenny?’ says Cocky-locky. ‘Oh! I’m going to tell the king the sky’s a-falling,’ says Henny-penny. ‘May I come with you?’ says Cocky-locky. ‘Certainly,’ says Henny-penny. So Hennypenny and Cocky-locky went to tell the king the sky was falling.

    They went along, and they went along, and they went along, till they met Ducky-daddles. ‘Where are you going to, Hennypenny and Cocky-locky?’ says Ducky-daddles. ‘Oh! we’re going to tell the king the sky’s a-falling,’ said Henny-penny and Cocky-locky. ‘May I come with you?’ said Ducky-daddles. ‘Certainly,’ said Henny-penny and Cocky-locky. So Hennypenny, Cocky-locky, and Ducky-daddles went to tell the king the sky was a-falling.”

    …..AND YOU ALL KNOW THE REST OF THE STORY.

    All you have to do is to replace “Henny Penny” with MIA AMOR MOTTLEY”

    Same defeatist mentality.

    And we all know what happen to “Henny Penny” in the end. She misled everyone who got eaten but she ran on home. This is what Mia is trying to do to Bajans misled them to their destruction while saving her skin because she knows better than she is saying.

    This foolishness she is always talking is going to have severe consequences for some Bajans but not for her.

    Pay her no mind.

    Reply
  12. Zena December 13, 2016 at 4:39 pm

    it is so sad@Carson C Cadogan, Zeus and Antionette Sealy for the sake of a ‘PARTY’, you would rather see your country sink, Do you LOVE your country Barbados, or do you LOVE party
    If Sewage is in the streets what are you going to do about it, criticize Miss Mottley for talking about it, or ask your PARTY to fix it, always remember country first. CLOWNS

    Reply
  13. Peter December 13, 2016 at 5:52 pm

    Zeus, Carson Cadogan, Alex Alleyne, Harryturnover Green Idiot, oops I meen Greengiant. I hope you all realize that the purchase of US dollars is a clear indicator that the exchange rate against the BDS dollar will rise in favor of the US dollar, hence the hoarding of US dollars for BDS dollars. This is an indirect way of Global Clearing outside of payment transactions. The news that TT $ is also traded is wealthy Trinidadians with offshore accounts are using BNDS $ as their conduit also. Miss Mottley is perfectly correct. Our deficit against our GDP is a whopping 163%. Guyana and Jamaica were around 167% and 165% of their respective GDP forcing them to devalue. This is not politics, this is an economical fact. People are already trading in Gold and other precious metals and gems. Why do you think more BDS dollars are being printed?

    Reply
    • Carson C Cadogan December 13, 2016 at 8:11 pm

      Listen to me Peter, MIA AMOR MOTTLEY has been wrong about everything since before she became Leader of the Opposition.

      This is just another example.

      The woman is just stabbing in the dark. No sensible Bajan is fooled by her pronouncements. She is nothing more than a manufacturer of Fear.

      Reply
    • Sherlock Holmes. December 13, 2016 at 8:45 pm

      Peter who? Or BOO.or the A Cooper spectacles guy.Which one is this?

      Reply
  14. Peter December 13, 2016 at 9:05 pm

    Carson and Sherlock. And just how qualified are you? I am not picking any side here but Mia will outstrip both of you by far. She is highly reted internationally. I know this.

    Reply
    • Sherlock Holmes. December 14, 2016 at 1:07 pm

      More qualified apparently than you,and who fooled you about internationally rated? I guess Hillary felt so as well, but guess what people are growing more tired by the day of politicians we are tired of the rhetoric, i guess you made a typo in spelling rated at least i hope so.Anyway peter i guess you see your self as some guru so i will let you revel in your assumption.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *