THAT INFAMOUS BAJAN PRIDE reared its head and met with scepticism a proposal by two wealth British businessmen who are offering an alternative to the International Monetary Fund (IMF).
Andrew Stewart, a securities expert and multimillionaire investor, and his business partner Stuart Fordham, are willing to secure a US$950 million to US$1 billion sovereign bond issue to help rescue Barbados’ economy.
Barbadians want to know “what’s the catch” and are not in favour of any proposal which would allow anyone to “own a piece” of the country.
Still, others called for due diligence and said it was a proposal worth looking into during online discussion.
Here are their views:
AG: Sounds good, but the Government better read the fine print before signing on! These guys didn’t get rich by giving cheap loans.
Josey Wales: The Barbados Government has some very bright folks working on its behalf. This proposal will be pulled apart layer by layer to see what lies beneath. If what is seen is not kosher, the Barbados Government will run full speed in the opposite direction.
Daneale O’neale: What’s the catch here, ’cause everyone knows there is never a free lunch?
Joel Banks: The IMF is a monster to be feared. That does not make this duo a band of angels. Barbados is about to learn the price for excessive debt and grandiose government.
lefmeman: Bad idea. ‘What’s in it for them?’ is what I would ask.
The Silly Rabbit: I would give it shot, ’cause this is better than anything Chris has proposed so far.
John Da Silva: While I agree the Government should do their due diligence, the negative and hateful responses to this proposal astound me. Foreign investors should pull out of Barbados and let it stew in its own mess for a while. Most progressive countries welcome foreign investment, but we seek to cast aspersions . . .
Philip Matthews: No strings, but . . . who will be able to pay that loan when it matures?
Amarilis Lily: Businessmen always have a long-term plan. What are the consequences of it? They don’t do anything because they have a compassionate heart.
Barker Antony: What’s the problem here? Maybe the nahsayers should pull their pockets!!
Mia Blackman: I don’t have a problem with foreign investment but when people come offering billions of dollars that would make them technically own a percentage of Barbados’ economy, I don’t trust it.
Caroline Hartley: I am just waiting to hear the Government’s answer to this proposal. Foreign investment is great but there is always a cost.
Karen Browne: There are always strings attached. If you go into the deal knowing that, then hopefully you won’t be blindsided and left scratching your head.
Poetry Dancer: Just because the fisherman throws bait in the water doesn’t mean he is the fishes’ friend.
•Sherrylyn Toppin is the NATION’s online editor.
