BLP against devaluation, says Walcott

The opposition Barbados Labour Party has reiterated its position against the devaluation of the local currency, saying it will destroy the country and ruin the quality of life of all Barbadians.

A statement issued this morning by the party’s general secretary, Dr Jerome Walcott, dismissed what he called recent “suggestions and innuendo” from government representatives that the BLP may be contemplating a devaluation of the Barbados dollar should it win the next election, as “nothing more than a deliberate untruth meant to scare Barbadians”.

Today’s statement came on the heels of the latest warning from Central Bank Governor Dr Delisle Worrell on Thursday night that although the Barbados dollar was a long way away devaluation, it was not out of danger.

Dr Walcott said that BLP leader Mia Mottley stressed the party’s position on devaluation in Parliament last month during debate on the Holidays with Pay Bill, when she said that the BLP was willing to work with Government to stave off any devaluation.

BLP General Secretary Dr Jerome Walcott

“This mass public manipulation is grossly immoral and deliberately seeks to mislead the electorate. Such are the actions of a government that is determined to win general elections at all costs,” Dr Walcott said.

He accused the Democratic Labour Party of consistently breaking its promise to the public, leading to uneasiness among Barbadians about the Prime Minister’s pledge not to devalue.

“Many do not believe him because his government has failed to keep its promise in the past,” Dr Walcott said.

“Leading up to the 2013 elections, the DLP under Prime Minister Freundel Stuart gave the impression that our party wanted to privatise statutory corporations and send home workers. Prime Minister Stuart himself pledged that would not happen. Within months of winning the election they went back on their promise and sent home between 3,000 to 6,000 public servants.”

He added that government has begun the privatization of statutory corporations, with the sale of the Barbados National Terminal Company Ltd.

Dr Walcott also pointed to the economic challenges of 1991, which forced the then DLP government, led by Erskine Sandiford (now Sir Lloyd) to seek assistance from the International Monetary Fund (IMF).

“He then sent home 6,000 public servants as we had predicted, while those that remained had their salaries cut by eight per cent.”

He added that the business community and investors are not investing “because they cannot rely on what the government says”.

10 Responses to BLP against devaluation, says Walcott

  1. Veroniva Boyce
    Veroniva Boyce February 4, 2017 at 6:57 pm

    Long Talk.

    Reply
  2. Sunshine Sunny Shine February 4, 2017 at 7:59 pm

    Look who talking. You should be the last accusing any person of anything. Don’t think your laundry is lily white in the eyes of all bajans. Your story is known, well known.

    Reply
  3. James Lynch February 4, 2017 at 8:23 pm

    As if the BLP has any say in whether there is devaluation or not. And as if the BLP had nothing to do with it. The BLP is only one half of the repeating cycle of incompetence, stupidity and greed dragging this country down into Hades and enslaving our great-grandchildren into debt.

    And we have NO alternative – yet. Until others join the fray. we are in an inevitable race to the bottom of the barrel.

    Barbados USED TO BE well respected for its intelligence, thrift and industry. All that is left is the Pride – the intelligence has turned to utter stupidity and the thrift into spennitoff.

    Our “leaders” have truly turned into a circus of braying jackasses, and just one of them performs miracles by keeping its mouth shut. Leadership has turned into Gimme.

    What is to become of our beautiful country?

    Reply
  4. Alex Alleyne February 4, 2017 at 8:57 pm

    Just speaking the “TRUTH”. None of us want a dollar in our pocket that don’t worth “dilly-squat”.
    No more devaluation talk.

    Reply
  5. Jennifer February 4, 2017 at 10:03 pm

    @James Lynch – sorry to say. Slavery never left, the school system is a microcosm of the bigger picture. Who is really at the top owning the wealth, and who is at the bottom with the rum shops and karaoke, with the half completed house. Even this highly paid Speaker in this article is in the same boat, as he is used to poison our people with the medicines of their masters. The thing is these coons are paid to keep these bunch of fu**ed up systems in place and keep us living bare minimum and in dire straits. While we sit and cheer on bee and dee eating corn beef and biscuits with no change in the wealth manopoly. Mind you we too in such a comatose state support their sports, foods etc pouring money in their pockets while they mind rape you.

    Reply
    • Sunshine Sunny Shine February 5, 2017 at 6:54 am

      Darn girl, you are so right. This jackazz poser might be right about devaluation, but he is no blasted good. He feeds into the same system design to keep him and the white class mass of merchants and business persons rich. He is cut from the same cloth of corrupt minds responsible for the massive exploitation taking place in Barbados under the guise of business. The BLP are beating their chests thinking that their time to serve will come next year. Their formula will be no different from that of this wicked corrupt DLP party. Same script just different-face actors.

      Reply
  6. lime juice February 4, 2017 at 10:55 pm

    James Lynch is also a braying jackass

    Reply
  7. seagul February 5, 2017 at 6:45 am

    Engrained slavery indeed sister and, whenever a government runs a massive fiscal deficit and the government has to go and create money by borrowing money to finance that deficit that creates an inflation spiral in the country. The attempt to reform taxation usually starts inflation spirals. This is well underway in social media etc…

    Reply
  8. Hal Austin February 5, 2017 at 11:18 am

    I hope Dr Walcott is a better doctor than he is economist.

    Reply
  9. BaJan boy February 5, 2017 at 1:15 pm

    It is truly sad that we pretend to be intelligent and we remember the worst of everything. We don’t seem to remember how Owen Arthur took this country from the pit of the DLP’s hell in 1994 when we were having the worst times ever in Our history and gave us 14 years of prosperity. The same lady Mia Mottley was a big part of that team. Now we are back in the same situation because of Sinkler and Stuart’s ineptness and we want to pace the blame elsewhere. The DLP is like a headless chicken and the few members who suck a little of what’s left of the fatted calf come to these blogs and write a lot of crap to mislead the public. The BLP has a vision as it did in 1994 and it will bring back investor confidence and work to make the lives of our people better as it did before. The Donald Trump to f Barbados must go no matter what. Thanks Dr. Walcott we all know you are not an economist and they are in government and don’t have one. They must also know that you a darn good doctor and you can’t find any over there either.

    Reply

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