Author: Marlon Madden

Grady Clarke

Final days

After more than two decades in operation, the Caribbean Credit Bureau (CBB) is on the verge of going out of business while a new “foreign-owned” full-service credit bureau is set to take its place, Barbados TODAY has learned. The decision to wind down the operations was made on Friday, following a meeting between founder and […]

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Peter Phillips

BMA relaunches ‘buy local’ in St Lucy

Manufacturers have taken a community tack as they launched a fresh ‘buy-local’ campaign on Monday, with the Minister of Transport suggesting that if Barbados is to emerge victorious from its current financial mess, consumers must buy more locally produced goods. It was simply unsustainable for the country to continue to spend millions of dollars annually […]

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Ryan Straughn

‘Better business behaviour’

He made slight mention of a former government minister’s criminal liabilities, but Minister of State in the Ministry of Finance Ryan Straughn has left little doubt that he expects more responsible corporate governance in the wake of the Donville Inniss Scandal. Declaring that it can no longer be business as usual in the way business […]

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Jillian Nunes

Keep investing in Barbados, says financier

Investors are being encouraged not to halt their investment due to fear of uncertainty in the Barbados economy as Government restructures its massive debt. The call came from Vice President and Country Head of Royal Fidelity (Barbados) Ltd Jillian Nunes, who pointed out that once the Government’s debt restructuring programme was completed “we will be […]

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Nathalie Marshik

Debt offer caution

Government’s debt restructuring offer to foreign creditors could be rejected if it contains terms similar to those presented to domestic bondholders, according to a US-based fiscal analyst. The suggestion is based on conversations between international creditors and Managing Director and Emerging Market Sovereign Analyst with investment firm Oppenheimer Nathalie Marshik, she told Barbados TODAY. The […]

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Art diplomacy

Scores of Barbadians and Argentinians came together at the Argentine Embassy in Hastings, Christ Church on Tuesday evening as they took part in the opening of a joint art exhibition reception. The Manchas and Collages – an intervened photography and abstract art joint exhibit – formed part of this year’s cultural celebrations to mark 50 […]

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Nathalie Marshik

‘Fix or fail’

If Barbados’ economic fix with the International Monetary Fund (IMF) does not work, Barbados may have to consider the dreaded devaluation of its currency, which could leave all Barbadians “poor from day one”, according to a visiting fiscal analyst. The sobering observation has come from Nathalie Marshik, Managing Director and Emerging Market Sovereign Analyst at […]

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Prime Minister Mia Mottley

Mandarin-speaking Bajan children ‘by 2030’

The Prime Minister has outlined her vision for every Barbadian child speaking some level of Mandarin Chinese by 2030. She has declared it was becoming increasingly necessary for Barbadians to have some level of competence in the main Chinese language, as she joined in celebrating the 69th anniversary of the founding of modern state of […]

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Prime Minister Mia Mottley (right) greets Governor General Dame Sandra Mason as China’s Ambassador to Barbados Yan Xiusheng looks on.

Rapid rise in trade

Trade war or not between the US and China, Beijing’s top diplomat here has hailed a “rapid increase” in trade between the world’s most populous nation and one of the tiniest. In the first six months of this year trade volume between Bridgetown and Beijing reached US$79.8 million, “a rapid increase of 53 per cent, […]

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Central Bank Governor Cleviston Haynes

Foreign bondholders to get restructuring plan ‘soon’

Overseas creditors will have to wait a while longer to know details of the plan restructuring the debts owed them by the Government, Governor of the Central Bank of Barbados Cleviston Haynes has said. Giving the assurance that the creditors were not being ignored, Haynes said that they would be getting full details in “the […]

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Director of Finance and Economic Affairs Ian Carrington.

NIS using investment cash to pay benefits

The National Insurance Scheme has been forced to use its investment income to pay benefits owing to Government’s half-billion-dollar debt as employer and tenant, the long-time NIS director who is now the Government’s chief economic advisor has revealed. The social security system is also holding in excess of $3.5 billion in Government paper as at […]

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Central Bank Governor Cleviston Haynes

New bonds for old debt

The Central Bank today drew a roadmap towards restructuring the Government’s six-billion-dollar debt, offering to swap the vast majority of loans for new debt instruments, suggesting a haircut to creditors and stretching the length of time over which they will be repaid. It’s the best the Government can do under the circumstances, the bank suggested. […]

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Prime Minister Mia Mottley and Bitt CEO Senator Rawdon Adams

‘E-currency pilot coming’

Prime Minister Mia Mottley has stepped in to quell a potential standoff between the fintech (financial technology) company Bitt and some commercial banks by announcing a digital currency pilot project. Mottley did not give details of the planned mobile wallet pilot project or when it would begin but gave the assurance that it would not […]

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Prime Minister Mia Mottley and economist Avinash Persaud during today’s conference.

Funds slashed

Government will slice off half of the money earmarked for the National Insurance Scheme’s Unemployment Benefits Fund to retrain public workers under the planned Retooling and Empowering and Retraining and Enfranchising (RE RE) programme come January 2019. Prime Minister Mia Mottley made this revelation on Tuesday as she addressed the second annual Bitt blockchain conference […]

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Rudy Grant

Farm to hotel, restaurant project ‘a success’

Some hotels and restaurants are continuing to reap success – and farmers are smiling all the way to the bank – under a farm project financed by the Inter-American Development Bank’s Multilateral Investment Fund. The $1.4 million project, which started in 2015, links micro and small business farmers to key hotel and restaurans. Under the […]

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Edward Clarke

Wait and see

From back-to-school, the business community has gone to wait-and-see as it shifts attention to the Christmas period. While confidence seems to be slowly returning to the economy, business owners still expect it to take some time before Government’s ongoing restructuring exercises will pay off for merchants, president of the Barbados Chamber of Commerce and Industry […]

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Alex Linton

Bus fare: Owners go above $2, stop at $5

More than two dollars but less than five dollars. That appears to be the position of private operators of minbuses and route taxis ahead of talks with the Government on a proposed bus fare hike. This as the future of public transport came under the microscope on Sunday as officials identified the challenges facing the […]

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