Prime Minister Mia Mottley on Friday declared that the Central Bank of Barbados is not printing money, as she sought to set the record straight regarding that institution’s recent purchase of Government bonds.Mottley also expressed concern that there were too many people speaking on issues about which they had no knowledge, even as she assured that her administration would continue to provide as many answers as often as necessary to ensure accurate information was disseminated.The Prime Minister raised the issue in the House of Assembly on Friday while contributing to the debate on the Electric Light and Power (Amendment) Bill.
Government’s proposed extension of the Barbados Optional Savings Scheme (BOSS) bonds investment is being knocked by one economist who has described the decision as “another misread of the investment climate in Barbados”.Kemar Stuart, Director of Business Development, Finance and Investment with Stuart and Perkins Caribbean, said given that Barbadians were still reeling from a decline in their spending power, the plan by Government to introduce BOSS Plus bonds was a mistake.“Barbados is still severely hurting from the brutal and erroneous debt default occurring in 2018 as Barbados made world economic history by restructuring its treasury bills, completely shattering investors’ confidence in Government paper,” said Stuart.“To date, investors have not been fully repaid from the bruising. This act only ever occurred in Russia in 1998, Ukraine in 1998 and Uruguay in 2003,” he said.
By Elesha George Elesha.george@antiguaobserver.com Senior Crown Counsel in the Ministry of Legal Affairs with responsibility for law reform and special legal…
How the Central Bank functions – Part 1 - Barbados Today barbadostoday.bb - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from barbadostoday.bb Daily Mail and Mail on Sunday newspapers.
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