The economy has continued to be a major topic of discussion during the past week, with the House of Assembly meeting and discussing financial matters.
The International Monetary Fund team arrived and began its Article 4 consultations and meetings with the Government and other interested parties, and official and unofficial conversations took place about possible layoffs of Government workers.
Discussions on a country’s economy are always a matter of ripe public interest, but like most Barbadians we are a little unhappy that discussions appear to be focusing more on what may be wrong with the economy than on what can be done to put it right.
As we have said before, and as everyone acknowledges, we have to grow our economy out of its present malaise. Having reached the point of almost no return, our Government may have to borrow in the short term in order to assist in the foreign exchange implications of any “stimulus” programme, while we implement measures designed to dampen consumer spending on high priced imported and other goods.
The Government must be applauded on the effort to get the Almond Speightsown property at least partially reoccupied and functioning, and efforts being made to restart Four Seasons are also a step in the right direction. If Government can get these two major projects at a stage of implementation, then we may avoid some of the more deleterious effects of our continuing situation; and the light at the end of the tunnel may then be a beacon of hope rather than a reflection of coming problems.
It is therefore more than a little disconcerting that we now read of further likely problems in the light of bids having been received by Government for the restarting of the Four Seasons project.
No less a person than St James North MP Kerrie Symmonds has hinted at the possibility that the restart of this critical project may become embroiled in what could be protracted litigation if the shareholders feel the best price was not obtained.
We feel sure that the Government and its advisers will take every precaution to avoid legal and other pitfalls to ensure timely regeneration of the project since it has the potential, once completed, to considerably enhance the tourism profile of this island in addition to generating much needed foreign direct investment into the country at this critical time.
There can be no denying that the fiscal deficit and the matter of getting the economy growing are the twin elephants in the room; but none of us, neither the Government nor any of us in our individual capacities can afford to roll over and die. That is not the Barbadian way.
We are a people who will find the resilience of spirit and the courage of our ancestors on all sides of our ethnic heritage to lift ourselves up once again by our bootstraps.
In this connection, we anticipate that the country eagerly awaits a full ministerial statement either by the Prime Minister or Minister of Finance Mr Sinckler!
The country can wait no longer, and if there must be layoffs, then let the authorities do what they have to do and ensure that the relevant safety nets are in place for those who might suffer great hardships.
The greater good of the country must always be a matter of first importance.
