Governor Haynes to demit office next Tuesday; replacement to be named soon

Governor of the Central Bank of Barbados Cleviston Haynes will leave the top post at month-end.

Haynes, who acted as Governor of the Central Bank for one year following the firing of then Governor Dr DeLisle Worrell in February 2017, was appointed in the position effective January 1, 2018. He was the seventh Governor of the Central Bank.

In recent days, questions have been raised by members of the public about whether Haynes’ contract would be renewed.

At the end of presenting his final economic review for the 2022 period, Haynes confirmed his departure and described his term as a challenging one.

Haynes, whose term saw the Barbados economy going through one of its most turbulent times in recent memory, delivered what was perhaps one of his most upbeat economic reviews where he delivered news of a 10 per cent growth. This represented one of the highest gross domestic product growth in dollar figures in recent years of $11.35 billion.

“Working with all stakeholders, the country has made progress and we can all be proud of our achievements thus far. I trust that during my term as Governor, that I have been able to provide the leadership which the public expects of this institution. And finally, to you in the media, let me say that I value the relationship that we have been able to build over the years,” he said.

“As I prepare to leave office, let me therefore encourage all of our stakeholders to continue to work together for the betterment of our country. That’s it,” he said.

An announcement of the new Governor of the Central Bank is expected within a matter of days.

Haynes, who spent just over 42 years at the financial institution, started as a research officer in 1980 and served in several capacities including chief economist, advisor to the Governor, Director and Deputy Governor.

The University of the West Indies graduate also served as technical assistant to the Executive Director of Canada, Ireland and the Caribbean at the Executive Board of the International Monetary Fund (IMF) between 1987 and 1989.

He also served as Technical Assistant to the Executive Director for Canada, Ireland and the Caribbean at the Executive Board of the International Monetary Fund (IMF) during the period 1987-1989. (MM)