IF THE CENTRAL BANK GOVERNOR had his way, the economic prescription for closing Barbados’ $400 million deficit gap would be sharp and swift.
Dr DeLisle Worrell said during the bank’s quarterly Press conference yesterday that Government, businesses and the trade unions were negotiating an agreed plan of action.
But the Governor, who helped craft an economic recovery plan for Barbados during the 1991 crisis that saved the dollar from devaluation, said yesterday it was better for Barbadians to take any pain associated with the $400 million adjustment now rather than delaying the process.
“In many cases it makes a lot of sense to take the pain and get it over with and get things back into balance so that you can focus on the investment that we need,” Worrell contended.
