FINANCE MINISTER Chris Sinckler is defending the Central Bank in the wake of harsh criticisms of its latest economic projections for Barbados.
He told hundreds of accountants and other professionals attending the annual conference of the Institute of Chartered Accountants of Barbados this morning that even international organisations have been known to get their projections wrong.
Bank governor Dr DeLisle Worrell recently said that the economy would likely grow 0.5 per cent this year based on the success of Government’s medium-term programme for growth and fiscal adjustment.
“It is not only here in Barbados that entities responsible for measuring and projecting get it incorrect sometimes,” said the minister, during the opening of the meeting at the Lloyd Erskine Sandiford Centre.
“Of course, you would think from listening to some commentators that the credibility of our Central Bank has to be called in to question whenever a growth projection is not met.”
Sinckler said in other societies the discourse is a lot more mature and realistic.
The minister prefaced his address by quipping that his remarks were not drafted by the alleged new head of government’s Economic Advisory Council, in obvious reference to reports that former Prime Minister Owen Arthur was tipped to replace retiring Sir Frank Alleyne. (WILLCOMM)
