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Survival not enough

Survival not enough

Barbados has been in survival mode for too long. Economist Marsha Caddle has contended that answers are needed to the question raised in 2014 by former prime minister Sir Lloyd Sandiford about the perilous state of the national economy, “How did we get here?” “The last decade has been presided over by a group of […]

Budget Day May 30

Budget Day May 30

Minister of Finance Chris Sinckler will present the annual budget to parliament on May 30. This was announced in Parliament a short while ago by Leader of Government Business John Boyce, who moved that today’s sitting of the House be adjourned until Tuesday May 30 at 4:00 p.m., when Sinckler will present the much-anticipated fiscal package.

Low foreign reserves still a concern – ICAB

Low foreign reserves still a concern – ICAB

The Institute of Chartered Accountants of Barbados (ICAB) said while it was generally pleased with the latest Central Bank report of two per cent economic growth for the first three months of this year, it was still concerned about the state of the country’s foreign reserves. “Foreign reserves are very important, not just for transaction […]

No sackings!

No sackings!

The umbrella trade union grouping is warning Government against severing public servants in a bid to cut its wage bill. In responding to a call Tuesday by Acting Governor of the Central Bank of Barbados Cleviston Haynes for belt-tightening, including a reduction in Government spending, President of the Congress of Trade Unions and Staff Associations of […]

Pay rises unaffordable at this time, warns Central Bank

Pay rises unaffordable at this time, warns Central Bank

The Central Bank of Barbados has given more than just a strong hint that it is against increases in wages for public servants at this time, saying any rise would put additional strain on Government’s already burdened fiscal position. In fact, Acting Governor Cleviston Haynes Tuesday warned that if Government were to grant pay rises, it […]

Haynes steers clear of offering advice on the IMF

Haynes steers clear of offering advice on the IMF

Government would require greater fiscal discipline than it currently demonstrates if it were to turn to the International Monetary Fund (IMF) for a bailout, says Acting Governor of the Central Bank of Barbados Cleviston Haynes. Haynes Tuesday told journalists at his news conference to report on the island’s economic performance for the first quarter he was […]

2% growth reported for first quarter

2% growth reported for first quarter

The Barbados economy seems to be on the rebound, but Government continues to fall short of its fiscal targets. With this in mind, Acting Governor of the Central Bank of Barbados Cleviston Haynes today warned that more belt-tightening measures were needed to stabilize the stuttering economy. Delivering his first quarterly report since taking over as effective […]

Sinckler rejects Worrell’s IMF prescription

Sinckler rejects Worrell’s IMF prescription

Minister of Finance Chris Sinckler says though the Barbados economy is definitely not well at the moment, he is yet to see the logic of those clamouring for Government to immediately put it into the hands of the International Monetary Fund (IMF). In rejecting out of hand the economic prescription issued last week by the recently dismissed […]

Oil brush

Oil brush

Prime Minister Freundel Stuart seems to have brushed aside a recommendation by the recently established Fiscal Deficit Committee to sell the Barbados National Oil Company Limited (BNOCL) and the National Petroleum Corporation (NPC). Instead, Government will proceed with the planned merger of the two state-owned entities (SOEs). Opening debate on the National Petroleum Corporation Amendment […]

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