Barbados’ opposition leader wants answers concerning economy

first_imgThe leader of the Barbados Labor Party (BLP), Mia Mottley, has called on the Governor of the Central Bank of Barbados, Cleviston Haynes, to provide a “true picture” of the local economy as she continued to criticize the economic policies of the  government.Earlier this week, Finance Minister Chris Sinckler, said that foreign exchange reserves situation in Barbados is improving and that the island’s Central Bank will soon inform citizens about the state of the economy.“For the time being, the country continues to function, people continue to go about their daily business, foreign purchases are being made, we have not heard the banks complaining that there’s no foreign exchange in Barbados to conduct business,” Sinclair told reporters.Central Bank projects low reservesBut Mottley, who is vying to become Barbados’ first woman prime minister, told a news conference there is a Central Bank projection that places the “worst case scenario of our reserves as low as BDS$100 million in December this year.Governor of Central Bank must speak plainly“So, this is not a laughing matter that you can just come and talk about arbitrarily. It is against this background I say to the people of Barbados now that the Governor of the Central Bank must truly come and speak plainly to Barbadians and not allow a minister with an electoral interest to serve to paint  a picture with his clear blue colored lenses.”Mottley warned that the financial situation could be further impacted by the continued downgrade of the island by international rating agencies.She said that while the island is expected to receive US$100 million in official foreign inflows from institutions like the Barbados-based Caribbean Development Bank (CDB) and the Inter-American Development Bank (IDB) “you will pay out because of the foreign debt.”last_img