WITH BARBADOS STILL “struggling”, it is now all but certain that Government will enter an International Monetary Fund (IMF) programme.
That was the consensus of a panel of business leaders participating in a “straight talk” session when Fortress Fund Managers held its annual investment forum Thursday evening at the Frank Collymore Hall.
And while they said the expected fiscal discipline would be welcome, the executives also warned that any such action would likely include the “pain” of increased job losses, higher taxes, reduced business concessions, increased costs for Government services, and threats to free bus fares and school meals.
An audience member asked panellists – Barbados Chamber of Industry & Commerce president Tracey Shuffler, Automotive Art chief executive officer Doug Armstrong, Fortress founder and managing director Roger Cave, Lashley Financial chairman Michael Lashley, and Fortress pension director Rene Delmas – if they thought Barbados would eventually enter an IMF arrangement, and they each answered “yes”. (SC)
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