Tuesday, April 16, 2024

Changing peg an option


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IT IS TIME FOR a debate on the value of the Barbados dollar, according to a former Prime Minister.

Owen Arthur, who led Barbados for 14 years, told the House of Assembly yesterday that the devaluation debate taking place in the country was a “false debate”. owen-arthur-at-estimates

The former Minister of Finance said the Barbados dollar peg to the United States currency had worked in the island’s favour but right now it was working against it.

In his contribution to the Estimates Debate, the St Peter Independent MP said: “Our currency is pegged to the US dollar which is free to move up and down. When the US dollar moves down against other currencies, the Barbados dollar devalues against other currencies. (GE)

Please read the full story in today’s Midweek Nation, or in the eNATION edition.




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