BLP’s statement on further S & P downgrade

Leader of the Opposition Barbados Labour Party (BLP), Mia Mottley, has responded to the latest Standard & Poor’s (S&P) downgrade of Barbados.

Mottley said the downgrades have become so routine that Barbadians are becoming immune. However, she noted that investors and businesses are not.

FULL TEXT OF MOTTLEY’S STATEMENT

“Our credit rating has been downgraded for the 20th time in 9 years by the major international credit rating agencies.

This has become so routine that Barbadians are becoming immune to the news, but unfortunately, overseas investors and businesses are not.

If we are to raise our international reserves to the point that makes our dollar safe, it is these people we need to convince of the skillful and energetic stewardship of our economy.

Equally this downgrade and the continued negative outlook will not give either Bajans or foreigners confidence to invest so that the jobs that Bajans so badly need are created.

Let us put this is context for Bajans.

Standard & Poor’s rates 130 countries. After this last downgrade to CCC, Barbados lies in 128th position. We are on par with Venezuela. There are only 2 countries who are rated worse than us – Mozambique and Belize.

There can now be no doubt that the longer the Freundel Stuart Government tries to hold on to power, the harder and longer our road to recovery will be.

How many more downgrades will it take for the Prime Minister and his Government to realize that there is no confidence left in their ability to reverse the situation?

Barbadians are paying too high a price for this Government’s incompetence and stubbornness.”

(ENDS)

51 Responses to BLP’s statement on further S & P downgrade

  1. Roger Fitzgerald
    Roger Fitzgerald September 28, 2017 at 7:46 am

    We been at the mercy of a mad man for too long an his bunch of bandits it’s time to take a stand before it’s to late force dem out make dis madman call elections wen will we stand up for something an stop looking for others to fight for us get dem out

    Reply
  2. Skilnic Skyy
    Skilnic Skyy September 28, 2017 at 7:54 am

    No 20….but somewhere in Barbados a yardfowl saying ‘He need Lil time’ & ‘the economy about to turn…WTF

    Reply
  3. Alex Alleyne September 28, 2017 at 8:17 am

    WHO GOING TO LEND BARBADOS SIX BILLION US DOLLARS IN ORDER TO GET BDS OUT OF ITS MISERY . WHO EVER IS IN OFFICE AFTER ELECTIONS WILL NOT COME WITH A “MAGIC WAND”.
    Vote CANIDATE not PARTY.

    Reply
    • Gearbox1964 September 28, 2017 at 11:58 am

      With the Westminster type system that we have, a candidate has little or no power if his party is not running the country.

      Reply
  4. Arthur Collymore
    Arthur Collymore September 28, 2017 at 8:17 am

    We are now to the point of asking ourselves whether or not DEM care about the country they we elected to serve. Surely, measures should have been implemented to hault the slide & divert the country away from the economic ruination towards which she is headed. Is it that DEM no longer care? How can one oversee such wanton destruction of a country & not take the prerequisite measures to avert certain ruin? We deserve better than this. In as mush as we elected these officials, we can no long afford to bear the burden of an administration who acts in it’s own interest. Elections are aprox a mere 5 months away & rather than fix an ailing economy, considerable effort & resources will be expended in trying to secure a third term in office. While there’s some truth in saying you get the govt you deserve, no country as blessed as Barbados deserves to be afflicted by so great a curse as this present DLP admin.

    Reply
    • Daisy Suzanne King
      Daisy Suzanne King September 28, 2017 at 11:10 am

      It is VERY clear that DEM don’t care. Milking de fatted calf ,full stop.

      Reply
    • Cheryl Onita
      Cheryl Onita September 28, 2017 at 1:15 pm

      They never never did only bout themselves

      Reply
  5. James Franks September 28, 2017 at 8:22 am

    Don’t worry folks, you are not alone.
    Our own basket case Jeremy Corbyn in the UK intends to follow the path your inept leaders have chosen.
    In other words, borrow ,borrow and borrow!!

    Reply
  6. Sue Donym September 28, 2017 at 8:33 am

    We have confidence – as much as heading down Round House hill without brakes.

    Reply
  7. Chris hill September 28, 2017 at 8:44 am

    March for elections. A lot of Barbados does not realize what this means, it means less jobs and opportunities for us as a people and a nation. Time to unite for election.

    Reply
  8. Shurf De
    Shurf De September 28, 2017 at 8:57 am

    I want to know, does makes a difference who in power, cause

    Reply
    • Rico Seale
      Rico Seale September 28, 2017 at 11:06 am

      Yes it does makes a difference cause some one have to be in power ,this government done nothing for Bim but cause hardship for the last 8 years its time for a change time to see if the other party can do alil better than this current government, and i strongly believe they can

      Reply
    • Shurf De
      Shurf De September 28, 2017 at 11:09 am

      So what the government before them did? It’s the government before and then this government. So you are right, I would like fresh ideas from a whole set of new personal

      Reply
    • Rico Seale
      Rico Seale September 28, 2017 at 11:18 am

      Correct and that what Mia did brought in a whole set of new ppl with new ideas ….dlp ideas aren’t working as far as we all can see so it time for some new ideas to see if those can work for the economy

      Reply
    • Michelle Griffith
      Michelle Griffith September 28, 2017 at 11:19 am

      Shurf I agree, we need a new batch of fresh minds, because I cannot see, Barbados going anywhere or things getting any better under these two parties, it is like let us fight to get into power, to see how we can rob Barbados and Barbadians blind.We need caring individuals, persons who are willing to fight for country and not for personal self interest.

      Reply
    • Rico Seale
      Rico Seale September 28, 2017 at 11:19 am

      The government b4 this one did way better we all know this …we all saw this and seeing this ,yea they had a few bad apples in the bunch but u can’t get all gud wen it come to ppl

      Reply
    • Shurf De
      Shurf De September 28, 2017 at 11:22 am

      Mía is not new Rico Seale so if you think I buying what you selling ain’t working. I want new house from foundation to the roof. “In my opinion” Mia is a bully

      Reply
    • Shurf De
      Shurf De September 28, 2017 at 11:23 am

      Rico Seale I don’t like tunnel vision

      Reply
    • Rico Seale
      Rico Seale September 28, 2017 at 11:32 am

      a bully who would get things done and won’t be a walk over Shurf De Mr frundel is the opposite and it int helping the problem …so i guess we need a bully to see if that approach works

      Reply
    • Shurf De
      Shurf De September 28, 2017 at 11:37 am

      Let put it blunt, I don’t want none of the two, I don’t want the present prime minister or I don’t want the opposition either.

      Reply
      • Randolph September 28, 2017 at 4:03 pm

        It is not what you want,it’s what’s best for Barbados and that would be MIA.

        Reply
        • Jason Arthur September 28, 2017 at 7:24 pm

          Shurf De, I’m sorry, but you sound like someone who is letting their emotions get the best of them. To vote for a third party under circumstances like these is merely a protest vote. Let’s be real here, none of these new parties have a snowball’s chance in you-know-what of winning the next election. Have any of them even announced a full slate of candidates? Bajans don’t have a history of readily embracing third-party entrants, and you should know that. Where is the NDP right now? Where is the PEP? Comissiong himself recently said that none of these new parties have a chance. He quite rightly pointed out that new parties need to establish a track record of working in the communities and articulating their policy agendas before people will seriously consider voting for them. Folks can’t expect to jump into politics months before an election and expect voters to trust them with their futures. Lastly, Americans who voted third party helped to get Trump elected, so just be mindful that that could backfire and give dem a 3rd term.

          With regards to your criticisms of Mia and the Bees, let me say this. The D’s won in ‘08 by smearing the Bees as corrupt. They promised forensic audits if they were elected and that folks would be hauled off to jail. They even promised Integrity legislation! How many years later now, and where’s the proof that the Bees were corrupt? How many years later, and where’s the promised legislation? But, let’s not forget, Mia and Owen both declared their assets even though they didn’t have to. Meanwhile on the other side of the political divide we had Clico. I’m not falling for the Dems’ smear tactics again.

          You say Mia’s a bully? Well, I’m sure the same label could be applied to PM’s like Barrow, Tom and Owen too, and all three turned out to be very competent leaders, so I’m not buying that argument. I’m not telling you that Mia is perfect, but she has grown as a leader, and that’s why you hear a lot less grumbling nowadays from other Bees about her leadership style, in my opinion. When she asked the Speaker to give Owen a few extra minutes to wrap up his contribution during the Estimates, I was blown away. Yes, he was her longtime mentor, but he has also been her harshest critic. Mia put all of that aside and extended an olive branch nonetheless. That takes character.

          With regards to if the Bees governed any better when they lead the country, all I can say is that I’m old enough to remember a time when we didn’t have to print money to pay salaries, the debt was half of what it is now and taxes didn’t have to be increased every single budget, so for me, the answer to that question is definitely a ‘YES’.

          Reply
    • Deborah King
      Deborah King September 28, 2017 at 2:58 pm

      well stay home on election day.

      Reply
  9. Jack neal September 28, 2017 at 9:23 am

    Wow! but the truth is Barbados was in a recession and still is for a long time, Please!! Mia, can you tell us the citizens of Barbados If for some reason you’re the next (PM) of Barbados what would you do to fix the problem? Barbados, have some many problems to tackle. it would take twenty years or longer to get back on par.

    However, I do believe the truth must be told to the people, and that productivity is the key. lots of long talk, people want to see action and Barbados is between a rock and a very hard place and the likes of moody’s, fitch and the s&p would not be easy on you.

    We want to hear how can the B’S FIX THESE PROBLEMS.

    Reply
  10. Kaiser Sose
    Kaiser Sose September 28, 2017 at 10:20 am

    Its going to get worse BLP unless you all come up with at least 3 more cash cows, hey Mia hit me up on Facebook we are friends or what’s app I have them for you, but I would not dare put them on here so the DLP can plagiarize them.

    Reply
  11. archy perch September 28, 2017 at 10:23 am

    I am holding my balloons up Mia. I waiting fah de launch. LOL

    Bare hot air. SMH

    Reply
  12. Helicopter(8P) September 28, 2017 at 10:27 am

    As things are run around the globe now, it looks as though the supremist who control the clout are looking to take each and every minister out of their Daimler Benz and Lexus and place them in a mule cart, along with a kus-kus grass sombero.

    Reply
  13. Roger Fitzgerald
    Roger Fitzgerald September 28, 2017 at 11:15 am

    In my opinion the people we elected to office should be held accountable an be impeached an called back be the electric for bi-elections it’s time these messengers be put into place other wise we will be in the same place ur not doing the job the people elected u to do impeach him or her

    Reply
  14. Sandra Madea
    Sandra Madea September 28, 2017 at 11:16 am

    WE THE PEOPLE OF BARBADOS HAVE NO CONFIDENT IN THE DLP GOVERNMENT.. MR STUART CALL ELECTIONS WE DON’T WANT YOU AND YOUR GANG OF DEMONS. #DLPMUSTGO

    Reply
  15. lester September 28, 2017 at 11:18 am

    There can now be no doubt that the longer the Freundel Stuart Government tries to hold on to power, the harder and longer our road to recovery will be.
    this will be the BLP swan song when and if they come to power.
    We are not on par with venezuela we are better, where this sleeping giant now rose up from

    Reply
  16. archy perch September 28, 2017 at 11:47 am

    I just installed new valves in my hot air balloon to be properly inflated with her hot air.We need a strong opposition, hence stay where you are.

    Reply
  17. David Ross
    David Ross September 28, 2017 at 11:49 am

    I guess there is no nice way to put it…. This administration is an incompetent group of ego maniacs.

    Reply
  18. hcalndre September 28, 2017 at 11:52 am

    With all the down grades, high unemployment, inadequate services, do any of the”16″ DLP elected ministers seems concerned? Ever so often one or two of them crawl out of their comfort zone and lie to the public how the economy is on the way up while one in particular blames the BLP that was out of office for 10 years for their incompetence. With the state of the economy and a hurricane, O Barbados.

    Reply
  19. Gearbox1964 September 28, 2017 at 12:05 pm

    If Barbados was one of those Arab countries the DLP would not still be running this country…but we too soft and weak when it comes to demanding change. Then there are the DLP yardfowls who still believe that this bunch of clowns represent the Errol Barrow legacy.

    Reply
  20. Sweetpea Darling
    Sweetpea Darling September 28, 2017 at 1:35 pm

    Well we going down all d time Dem don’t care cause da saying a third term murduh we all dead !sos sos

    Reply
  21. Barry Telesford
    Barry Telesford September 28, 2017 at 2:19 pm

    Getting into manufacturing that tourist thing undependable

    Reply
  22. charjoy September 28, 2017 at 2:23 pm

    Mia maybe we can vote for you but this is what we want in return
    1. The enactment of integrity legislation by December 2018 – all ministers will be required to disclose their assets upon entering office
    2. The enactment of free access to information legislation – public has access to the above – by Dec 2018
    3. The removal of current CCJ from office – poor performance
    4. The restructure of the Child Care Board – With the removal of current Executive Director – Dec 2018
    5. The introduction of more stringent work permit policies and proven enforcement of these.

    No blank cheque this time we holding you accountable

    Reply
  23. Loretta Griffith September 28, 2017 at 3:42 pm

    Gearbox164 I don’t see anything that looks like it represents Errol Barrow’s legacy. Please take him out of the equation.
    I am even wandering what will be Prime Minister Stuart’s Legacy? There is no way I would allow anyone to destroy what little legacy I have left because of EGO.
    Heads should really roll.

    Reply
  24. Randolph September 28, 2017 at 3:53 pm

    Whoever believe that this government will win a 3rd term belongs to Black Rock.

    Reply
  25. Greengiant September 28, 2017 at 4:21 pm

    This S and P announcement is like fodder for the animals. Now the B L P and their silly supporters can have another reason to justify a reason for their reelection, while the D L P and their supporters can get the chance to play the blame game claiming that they will win a third term in office.

    Those who believe the D L P will win another term belongs permanently in the Psychiatric Hospital, they however should make provision for those who believe the B L P should be reelected to join them there. These parties are both responsible for inflating the national dept between 1994 and 2017 after our workers had made the sacrifices employed by the Sandiford led administration to reduce our dept, and increase our foreign reserves without the IMF or international borrowing. Both parties should now be ashamed to come to the electorate for any vote of confidence. For all you new candidates who are coming to the people under these banners, you will simply have to fall in line with the old antiquated ideology of these parties unless you want to become a Harold Blackman, or Maria Agard. If in doubt ask Hammy. We all know the result of filling old wine skin with new wine. Solutions Barbados all the way.

    Reply
  26. Breadfruit. September 28, 2017 at 4:49 pm

    @ greengiant
    Please get your alternate facts corrected.
    Sandy did go to the IMF.

    Reply
  27. Breadfruit. September 28, 2017 at 4:54 pm

    Greengiant
    Barbados cannot develop unless it borrow. development like the Sea and Air Ports, schools water etc.

    Reply
  28. Breadfruit. September 28, 2017 at 4:57 pm

    Greengiant
    SB? I hope you have booked yourself a room down at the mental fuh when SB lost.

    Reply
  29. Belfast September 28, 2017 at 5:54 pm

    200 and nuff thousand people in Barbados being held to ransom by a hand full of pocket liners.

    Reply
  30. BIGSKY September 28, 2017 at 6:15 pm

    We are getting more downgrades now than seeing Stephen Lashley on CBC TV and you know this got to be alot, since the Minister is on every night, with a different agenda from A – Z.The man is more ubiquitous than african snails in a vegetable garden.

    Reply
  31. Tony Webster September 28, 2017 at 7:30 pm

    @Alex Alleyne: vote candidate, yuh seh? You wish, Anasi!
    You tail pon fire yeh!

    Reply
  32. Alex Alleyne September 28, 2017 at 7:52 pm

    I can’t trust a PARTY, don’t want to sit at home while it’s voting time so I going CANDIDATE……..all the way.
    If things goes well ok , if it FAIL , still I will not be beaming MAD.
    JUST ME.
    VOTE PARTY = Half a dozen of one , Six of the other.

    Reply
  33. Derek September 28, 2017 at 7:59 pm

    Just suppose when he does call elections he wins a 3rd term . What will you people say then ?

    Reply
  34. Breadfruit. September 28, 2017 at 8:35 pm

    @ alex
    What can a winning candidate do if his party is not in power?
    yuh teking a 6 fuh a 9!

    Reply
  35. Ron September 28, 2017 at 9:39 pm

    Do we need new people or competent people who can manage our economy. It is clear that those in charge do not have a clue, out of 130 countries we are at number 128. For a country that was punching above its weight a few years ago this is total embarrassment. The DLP has failed us miserably and must go. The new parties have no proven record in governing far less in managing an economy which is on the verge of collapsing. I think the leaders of those parties are on ego trips and all about projecting themselves. I will be criticise but who is the leader of Solutions, can he relate to the average Bajan,tell me? The leader of the UPP is about stopping Mia from being PM, is that a reason to form a party? She has ran from St. Philip to the City to cut votes. If she couldn’t win in St. Philip how can she win in the City a constituency that is so far removed from the profile she has developed over the years. The only party capable of managing our affairs at this time is the BLP. They have a proven track record and a blend of experience and young candidates who would do us proud.

    Reply

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