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Ready to walk

Ready to walk

Minister of Finance Chris Sinckler Tuesday said he would quit rather than oversee a devaluation of the Barbados dollar. With Governor of the Central Bank of Barbados Dr Delisle Worrell suggesting the possibility of devaluation amid a worrying decline in foreign reserves, and with Guyana recently suspending trade in the Barbados and Trinidad & Tobago dollar, […]

‘Time is running out for Barbados’

‘Time is running out for Barbados’

President of the Barbados Employers’ Confederation (BEC) Marguerite Estwick is warning that Barbados was running out of time to improve productivity in order to help the ailing economy. Addressing a productivity workshop for small and micro enterprises on Friday at the Accra Beach Hotel on the topic Understanding Issues of Productivity and Exploring Ways of Improving, […]

Guyana loses confidence in Barbados dollar – Straughn

Guyana loses confidence in Barbados dollar – Straughn

Guyana has lost confidence in Barbados’ monetary policy, hence the reason it suspended trading in the Barbados currency, a former Central Bank of Barbados (CCB) consultant has charged. Economist Ryan Straughn is convinced Guyana’s central bank was sending a clear message to the authorities here that it was uneasy with the CCB’s printing of money […]

Offer stands

Offer stands

Their original offer is now off the table, but as Barbados struggles to get out of an economic rut multi-millionaire investor and financier Andrew Stewart and his business partner Stuart Fordham say they are still willing to help. At the end of 2014, Stewart, the chairman of the stockbroking and investment management firm Ravenscroft Limited, […]

No more belt-tightening, please!

No more belt-tightening, please!

A recent declaration by the Central Bank Governor Dr DeLisle Worrell that more belt-tightening measures were needed, has been dismissed by Chief Executive Officer of the Small Business Association (SBA) Lynette Holder, who said the economy was in need of better growth strategies. Dr Worrell announced last week that for the last three years Barbados […]

Slippery slope

Slippery slope

The latest downgrade of the Barbados economy is an indication the country is approaching crisis levels, according to Chief Executive Officer of the Small Business Association (SBA) Lynette Holder. Concerned that Government continues to finance the country’s high debt and deficit through the printing of money, Caribbean Information and Credit Rating Services Limited (CariCRIS) lowered […]

SOL it is!

SOL it is!

It’s almost a done deal. Nine months after Minister of Finance Chris Sinckler announced the sale of this island’s lone oil terminal to a private entity, the name of the potential buyer has been formally announced. In a statement today, the state-owned Barbados National Oil Company Ltd. (BNOCL) revealed that it had signed an agreement with the […]

Another downgrade for Barbados

Another downgrade for Barbados

Concerned that Government continues to finance Barbados’ high debt and deficit through the printing of money, the Caribbean Information and Credit Rating Services Limited (CariCRIS) today lowered by one notch its ratings on the debt issue of US$300 million of the government of Barbados to CariBBB and CariBBB+ on its foreign and local currency rating, […]

Prepare for more bitter economic medicine!

Prepare for more bitter economic medicine!

The Opposition Barbados Labour Party (BLP) Thursday stopped short of saying “we told you so”. However, with Governor of the Central Bank of Barbados Dr Delisle Worrell currently using the dreaded ‘d’ word –– devaluation –– amid a worrying decline in this country’s foreign reserves, the Opposition’s lead spokesman on economic matters Clyde Mascoll has warned […]

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