Barbados Today

“Principal of the UWI Cave Hill Campus, Sir Hilary Beckles, says greater recognition should be given to the foreign exchange earning capacity of that institution.”
He said: “This campus generates more foreign exchange into this country than many hotels combined.”
He further went on to say: “This campus generates millions of foreign exchange each year into the economy.”
He added: “Can you imagine how much money is imported into this country by 3,000 on an annual basis who are students here, spending, investing. It is an enormous contribution to this economy.”
“The fact is that those persons who ought to know, do know.”
He then singled out the governor of the Central Bank of Barbados, and the minister of finance.
The principal of the UWI Cave Hill Campus has dropped a “bomb” on Barbados.
We should all read, mark, learn, and inwardly digest what he has said, because he did not only make a stark statement, but he also said: “I know, because we have done the research.”
I have no reason to doubt Sir Hilary, so my question to the present governor of the Central Bank, and minister of finance, and previous ones in former administrations is: Where does this foreign exchange go? Where has it gone?
Which ministry is it propping up while crocodile tears are flowing about how much money this Administration has to pump into UWI — so much so that it can no longer pay the tuition fees for Barbadian students? Has the money been pumped into the Ministry of Tourism where it could be pumped into the “All Seasons” bottomless pit?
It is unbelievable what is going on in this Administration, and what would have gone on during the BLP reign!
Both parties should tell the tax payers of this country what they did with all that foreign exchange, and this Administration should tell them what is being done with it now!
Both the former governor of the Central Bank, and the present one should also give an account of how that foreign exchange was handled!
The present one should also let us know what is being done with it now!
The hard-working taxpayers of Barbados, who have now been given a Sisyphean task, would like to know!
— Anthony Davis