Monday, April 15, 2024

Yearwood: Going to IMF was a bad choice

Date:

Share post:

THE BARBADOS LABOUR PARTY (BLP) chose to burden taxpayers, says Democratic Labour Party (DLP) president Dr Ronnie Yearwood.

During the inaugural The People’s House town hall style meetings at St Alban’s Primary School, Weston, St James on Sunday evening, Yearwood said Government had the choice not to work with the International Monetary Fund (IMF) but instead chose to saddle Barbados in further debt.

“They ended up putting the debt back up to another $2 billion. So they ended up restructuring the debt, wiping out everybody’s savings, to bring us back to another $2 billion in debt? What was the point?” (CA)

Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOSand Android

Carlos Atwell
Carlos Atwell
Carlos Atwell is a Reporter II with the Nation Publishing Co Limited with 18 years’ experience writing mainly news and current events stories. He has been described as “tall, dark and ridiculous” . . . by himself.

1 COMMENT

  1. The truth about most of these meetings and those who attend, is there are very few who has any real knowledge or requisite understanding about the subject matter.
    And they will just repeat what can be characterized as word salads!
    So, he wouldn’t have been asked to explain why IF during the last DLP Administration, them having ran different types of what they termed HOME GROWN FISCAL POLICIES for the majority of their two terms, the BLP coming to office facing our Debt to GDP ratio increasing constantly and standing at 178 or 179 %, and the debt having rose from $7.2 B in 2008 to approximately $18.1B in 2018, what was wrong at that point appreciating that the treasury literally being broke for all intents and purposes and Barbados economy in distress, sewage flowing in the streets, rats running amok because the garbage can’t be collected because they were no trucks, children can’t get school or people can’t get work because there is no transportation, and the economy on the verge of collapse, what were the real choices?
    Because Barbadians are living a reality of a far more hopeful Barbados, with the BLP government having entered into an IMF arrangement and our GDP debt ratio currently declining and stands at 114.6% with annual Growth of around 4%., people are working again and have money to spend, with far less incidence of crime and vandalism.
    Why isn’t this Barbados a far greater preferred Barbados than what was left and inherited from the last DLP administration.
    Mr. Harewood these are verifiable concrete facts than can be checked!
    Did you present any of this information to your listeners?
    What is wrong with these facts and tell us what you would have done differently with the relevant information that we could scrutinize!

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Trump trial: Dozens of jurors rejected as they say they cannot be impartial

Donald Trump's unprecedented criminal trial has begun with half of a group of potential jurors ruled out within...

Political parties lash out at Haiti PM over council limbo

PORT-AU-PRINCE, Haiti (AFP) — The Haitian parties set to form a long-awaited governing council have called for the...

Celtics draw first blood

Underdogs and first-time finalist C.A.M Smart Assurance City United Celtics registered the ideal start, defeating Burger King Clapham...

Digicel appoints Marcelo Cataldo as Group Chief Executive Officer

Kingston, Jamaica - Digicel Group today announced Marcelo Cataldo as its new Group Chief Executive, effective 1st May...