TWO former Central Bank governors have supported the call for the Government to turn now to the International Monetary Fund (IMF) for financial help rather than wait until its pockets are empty.
Sir Courtney Blackman in Florida and Winston Cox in Quebec, Canada, were joined by Charlie Skeete, a retired Inter-American Development Bank economic adviser who lives in a Virginia suburb, in recommending that the country should begin negotiating an IMF package immediately, not after the next general election.
In separate conversations with the WEEKEND NATION, the three economists said prompt steps were needed to boost Barbados’ economic fortunes, given the dwindling foreign reserves, high fiscal deficit and debt mountain.
But while their call was in step with the proposal advanced by Owen Arthur, a former prime minister and minister of finance, it put them at odds with Prime Minister Freundel Stuart, who told parliament on Wednesday his Government wouldn’t make such a move at this time. (TB)
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