The Opposition Barbados Labour Party (BLP) this evening likened the latest economic review by the Central Bank to a Halloween horror.
In a strong response to the bank’s report on the performance of the economy during the first nine months of this year delivered today by Acting Governor Cleviston Haynes, BLP leader Mia Mottley said it was astonishing that foreign reserves had declined by 40 per cent since 2016, while Government’s debt had increased yet again.
Noting that all the main indices were worsening, Mottley suggested that the acting governor was ineffective.
“This Governor of the Central Bank needs to use his professional judgement and expertise or step aside. He has made no difference to the slide in the critical indices,” she said in a statement, adding that Haynes had obligations under the Central Bank Act to act in the best interest of Barbados.
The Opposition Leader stressed that Haynes owed his loyalty to the country and not to Minister of Finance Chris Sinckler, who fired then governor Dr DeLisle Worrell in February.
She also slammed unnamed members of the private sector, as well as Sinckler, who she said “has no clue” how to cure the ailing economy.
“There are those in the private sector and some armchair professionals who must put personal agendas and vendetta aside. They need to call a spade a spade and put Barbados first. Report after report, outlook after outlook, downgrade after downgrade, all make it clear that the current Minister of Finance has no clue as to how to get Barbados out of this mess,” Mottley charged.
The BLP leader also lashed out at Prime Minister Freundel Stuart, who she described as “uncaring or indifferent” for continuing to express confidence in Sinckler.
She called on Stuart to “do what is right by Barbados” and call elections now.
“The Prime Minister is either uncaring or indifferent to have just two days ago expressed full confidence and total satisfaction with this Minister of Finance. This tells us that he, too, is ignoring the reality of this worsening situation. In the context of all that is happening, the people of Barbados must sooner or later come to terms with the reality that these collective drivers cannot drive.”
She also appealed to Stuart to “put aside false pride, acknowledge that the vehicle is spiralling away out of control”.
“The Prime Minister needs to do what is right by Barbados,” the BLP political leader stressed.