BARBADOS’ LARGE APPETITE for consumption and Government’s unwillingness to demonstrate fiscal discipline will come back to haunt the island.
And while he declined to say whether he supported a devaluation of the Barbados dollar, United States-based Barbadian economist Charlie Skeete warned that if a lid was not kept on spending, eventually “the Barbados currency will devalue itself”.
Skeete was also doubtful that the Barbados economy could sustain a major wage hike for public sector workers at this time.
He voiced his concerns Wednesday night at Frank Collymore Hall while participating in a panel discussion at the 7th Annual Fortress Investment Forum. (SC)
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