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Home remedy

Home remedy

In what could be music to the ears of Minister of Finance Chris Sinckler, a visiting senior economist is strongly recommending a do-it-yourself formula to resolve the island’s economic crisis. Former Governor of the Central Bank of Ireland Dr Patrick Honohan Thursday said Barbados could solve its problems without outside help, since no one understood the […]

Economic reports in

Economic reports in

Prime Minister Freundel Stuart now has in hand the reports of the recently established fiscal deficit and foreign reserves working groups, set up to advise him on the way forward for the ailing economy. However, so far officials have been tightlipped on the contents of the two documents, which were hastily produced following a two-week […]

Rising US interest rates could spell more bad news, warns Stephen

Rising US interest rates could spell more bad news, warns Stephen

Already witnessing a decline in tourist arrivals from its number one source market, and struggling to pay back a massive debt, the Barbados economy could be about to suffer another severe blow. Following yesterday’s decision by the US Federal Reserve to raise interest rates by 0.25 per cent to one per cent, the third such […]

Heads must roll – Clarke

Heads must roll – Clarke

Opposition Member of Parliament for St George North Gline Clarke is calling for heads to roll in the Democratic Labour Party (DLP) administration for the island’s “fall” from financial grace. He charged that the country was in its current financial mess because Government had engaged in terrible policies and economic practices that had made it […]

Paul: Opposition in collusion with ratings agencies

Paul: Opposition in collusion with ratings agencies

Member of Parliament for St Michel West Central James Paul has slammed international ratings agencies Standard & Poor’s (S&P) and Moody’s for their repeated downgrades of the economy, charging that these agencies were servants of capitalists who wanted to see Barbados fall. At the same time, Paul appeared to link the Opposition Barbados Labour Party […]

Sinckler calls on private sector to pull its weight

Sinckler calls on private sector to pull its weight

Minister of Finance Chris Sinckler is accusing private sector companies that earn foreign exchange of keeping a lot of their earnings offshore. He pointed the accusing finger at business operators while stating that if they were bringing in more foreign exchange into the country Government would not be forced to borrow as much as it […]

Failing grade

Failing grade

Opposition Leader Mia Mottley Monday evening described Minister of Finance Chris Sinckler’s introduction to the 2017-18 Estimates of Revenue and Expenditure as “an admission that the economy is in deep economic difficulties”. She said that Sinckler’s six-hour presentation revealed an “absolute failure by the Minister of Finance”, who she accused of being on the defensive and […]

Central Bank to source backstop loan

Central Bank to source backstop loan

It has recently come under harsh criticism for its heavy financing of Government. But this has not stopped the Central Bank of Barbados, under its new leadership, from coming to the rescue of the Freundel Stuart administration. In leading off debate on the 2017 Appropriations Bill in Parliament Monday morning, Minister of Finance Chris Sinckler downplayed […]

Sinckler ready to have a national conversation

Sinckler ready to have a national conversation

Minister of Finance Chris Sinckler says it is time for a national discourse on a new socio-economic development model for the country to tackle the foreign exchange situation, high debt and the overall state of the economy. While acknowledging that the country had not been earning and retaining enough foreign exchange and has been engaged […]

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