FORMER GOVERNOR of the Central Bank of Barbados, Sir Courtney Blackman, believes significant productivity gains can be achieved by offering technical support for statutory corporations.
Speaking yesterday during the University in the Community lunchtime lecture hosted by the University of the West Indies and the Central Bank of Barbados, he said large sums of money were lost through the mismanagement of parastatal bodies.
“I know from afar that they are badly managed. Any corporate institution that fails to produce audited financial assets for five years is by definition mismanaged because you manage with the information, particularly financial information,” he said while speaking on the topic Economic Strategy In A Time Of Crisis.
Sir Courtney said that if audited financial statements were not sent to those who were responsible then the corporation could not be held accountable. (NB)
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