TAKE THE PEOPLE into your confidence.
This advice came from former Prime Minister Owen Arthur to his successor as he contends the forced retirements at the Barbados Investment and Development Corporation (BIDC) are just the beginning of the accelerated restructuring of Government’s state enterprises to cut costs, as recommended by the International Monetary Fund (IMF).
Arthur said that with Government’s financing options now limited to a few organisations who would only lend to us if we are following IMF recommendations, the Freundel Stuart administration has no choice but to effectively deal with the statutory corporations which they announced they had to do.
But the recent IMF Article IV report recommends and proposes the time has come to accelerate the restructuring of these organisations.
Please read the full story in today’s Sunday Sun, or in the eNATION edition.