“DEVALUATION NEVER WORKS!”
That is the caution coming from an internationally recognised economist, who believes that Barbados should not even be contemplating devaluing its dollar.
John Tammy, a political economy editor at Forbes, has advised that the country do everything to maintain its current 2:1 peg with the United States dollar.
Speaking at Hilton Barbados during the Chartered Financial Analyst Society Barbados’ Forecast Dinner on Wednesday night, Tammy explained that devaluation almost always stunted economic growth. (RB)
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