ECONOMICS PROFESSOR Michael Howard has thrown cold water on the idea that there is a serious threat to the value of the Barbados dollar.
The highly regarded economics thinker agreed with Central Bank Governor Dr DeLisle Worrell that Barbadians should not be worried about devaluation of the dollar at this time.
In a wide-ranging interview with the SUNDAY?SUN?yesterday, the former Central Bank board member said: “We still have a fairly high level of foreign reserves and the issue to watch is . . . whether the foreign reserves would remain at that level or whether they would decline rapidly over the period. But I don’t think we should worry about devaluing the dollar at this time.”
Howard noted that any devaluation of the Barbadian dollar would be a tremendous blow to the economy since it would not rescue the country from its plight or make the country more competitive.
