FLUMMOXED - See if you can figure this out. The MOF says he knows our fiscal deficit is too high and the govt is committed to reducing the deficit and he is satisfied we can reach target. All of this posed during the passing of a bill to raise the govts debt limit from 2b to 4b dollars. You think they are committed to lowering their fiscal deficit. Things have got to be alot worse than they are sharing with us. Mia Mottley has warned the govt about this folly, but again they refuse advice. Go figure. Then the Central bank is making losses and Sinkler saying that the CB investments have received lower interest rates. Is the interest rate negative then? The only problem the CB could have is on its expenditure side. Dr. Clyde Mascoll provides clarity. The CB is lending the govt too much. So the government has toppled the Barbados economy; and now the central bank came tumbling after. Yet the CB governor states they will continue to lend the govt and govt asserts it should continue buying treasury bills. My my. God help us if sufficient projects do not bear fruit on time, the mess will be unprecedented in the history of this country.
Posted on: Fri, 16 May 2014 02:14:41 +0000
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