Program Does Not Take Draconian Approach

Sharon Austin Top Stories

The Barbados Economic Recovery and Transformation Program “does not take the draconian and outdated approach” of targeting a specific number for the sending home of public workers. This view was expressed by the Barbados Economic Recovery Team, in response to questions recently asked by retired senior lecturer in economics at the University of the West Indies, Cave Hill Campus, Professor …

Targets In BERT Are The ‘Conditionalities’

Sharon Austin Top Stories

The “conditionalities” of the International Monetary Fund’s loan are the targets set by this country in the Barbados Economic Recovery and Transformation Program (BERT). That is the word from the Barbados Economic Recovery Team, in response to questions recently posed by retired senior lecturer in economics at the University of the West Indies, Cave Hill Campus, Professor Michael Howard, in …

Q & A: Barbados’ Economic Recovery Programme

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Barbados Economic Recovery Team’s responses to the questions posed by Professor Michael Howard on page 26A in the Nation’s Sunday Sun for Sunday, September 9, 2018. Ques: What are the projected dollar cuts for current expenditure over the loan period? Ans: The loan period is for 4 years, with the last disbursement in May 2022. Projected expenditure cuts over this period amount …

Barbados & IMF Reach Staff Level Agreement

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Government and the International Monetary Fund (IMF) have reached a Staff Level Agreement. Prime Minister Mia Amor Mottley made the announcement today during a press conference at Government Headquarters, after the wrap-up meeting with the IMF. Ms. Mottley said it was an extraordinary achievement by Barbados to reach this point with the IMF in three months, stating that some countries …

Commitment Of Resources A Vote Of Confidence

Sharon Austin Top Stories

Barbados’ Economic Recovery and Transformation Programme seems to have received a thumbs up from the International Monetary Fund (IMF). Deputy Division Chief of the Caribbean II Division of the IMF, Bert van Selm, who led the mission to Barbados, told a press conference today that the important commitment of IMF resources was a vote of confidence in the Barbados Economic …

Prime Minister: Mini-Budget Absolutely Necessary

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Prime Minister Mia Amor Mottley has described her recently delivered Mini-Budget as “not perfect”, but “absolutely necessary to stop the bleeding” in the economy. Ms. Mottley expressed this view recently while delivering the feature address at the Business Luncheon of the Barbados Chamber of Commerce and Industry, at the Lloyd Erskine Sandiford Centre. She told the gathering that Government’s mission …

Acting PM: Sustainable Recovery Plan Can Work

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The Barbados Sustainable Recovery Plan (BSRP) has received the thumbs up from Acting Prime Minister Richard Sealy, who described it as a workable document. While delivering the feature address today at the start of the Week of Excellence 2018, at the Courtney Blackman Grande Salle, Central Bank of Barbados, Mr. Sealy told his audience that the BSRP was not just …

Assessment Of Informal Economy

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A comprehensive economic assessment of Barbados’ informal economy is currently being undertaken to examine how the sector could be modernised. This disclosure came recently from Director of Research and Planning in the Economic Affairs Division, Patrick McCaskie, as he delivered remarks at a half-day workshop entitled:  Domestic Resource Mobilisation Programme on Modernising the Informal Economy in Barbados. Mr. McCaskie told …

Working Groups’ Reports Being Studied

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Prime Minister Freundel Stuart has received the reports from the two Working Groups which were set up on March 3 this year to discuss the challenges to Barbados’ Foreign Reserves and the Fiscal Deficit, and to make recommendations. Mr. Stuart commended the work of the two groups and said: “The recommendations made are being studied with a view to determining …

Two Working Groups Set Up

Sharon Austin Top Stories

Two Working Groups comprising representatives of Government, the Central Bank, labour and the private sector have been set up to discuss Barbados’ Foreign Reserves and Fiscal Deficit situations, and submit recommendations in two weeks to Chairman of the Social Partnership, Prime Minister Freundel Stuart. This disclosure came today from Mr. Stuart as he addressed the full Social Partnership meeting at …