For a country that is a mere 166 square miles, Barbados is privileged to have produced an extraordinary number of eminent and internationally revered persons of excellence.Among those proud Barbadian products is economist Dr Kevin Greenidge, who will step into the Governor’s chair from March 1, becoming the eighth head of the island’s lead financial institution and regulator of the banking sector.The 54-year-old comes from a humble background, growing up in a low-income urban community. He readily admits that it is Barbados’ free educational system that was the catalyst for his personal and professional successes.His academic qualifications are stellar with a BSc in economics with first class honours from the University of the West Indies, Cave Hill Campus. This was followed by a master’s in economics from the University of Cambridge in the United Kingdom and a PhD from the University of Nottingham, also in the UK.In one of his first comments after the announcement of his a
A former central bank governor is urging the Barbados Government and others in the region to rethink their borrowing strategies, suggesting that policy-based loans should be avoided since their results over the years have been disappointing.Economist Dr DeLisle Worrell gave the advice, while excusing such loans from the International Monetary Fund (IMF) under its Extended Fund Facility (EFF) arrangement, in which Barbados is currently engaged.He argued that loans that were not related to infrastructure development, public utilities and public service were bad debt since it was “difficult to identify positive outcomes”.“I believe the time is ripe for a re-evaluation of borrowing strategies by Caribbean governments. Clearly, government borrowing to provide for facilities and equipment to ensure the effective delivery of public services and public utilities is essential for economic development. On the evidence, that seems as far as governments need to go,” said Worrell.“Governm
By Marlon Madden
A former central bank governor is urging the Barbados Government and others in the region to rethink their borrowing strategies, suggesting that policy-based loans should be avoided since their results over the years have been disappointing.
Economist Dr DeLisle Worrell gave the advice, while excusing such loans from the International Monetary Fund (IMF) under its Extended Fund Facility (EFF)
When there is silence or a dearth of information, people tend to come up with their own answers and misinformation tends to thrive.
We make this observation as the country awaits the appointment of a new Governor of the Central Bank of Barbados, as the curtain came down on the leadership of Governor Cleviston Haynes on Tuesday.
There seemed something odd, however,