The country is in a crisis. That’s how Dr Troy Lorde, senior lecturer in economics at the University of the West Indies, summed up the current state of the Barbados economy.
Lorde said while he does not agree with going to the International Monetary Fund (IMF), in principle, he believes it has to be a last resort.
“It [IMF] is crisis lending. You approach them and enter into a programme because you have some kind of situation where perhaps it is too costly for you to manage.
“The point of going to the IMF is to give you breathing room. The problem is that we haven’t seen the turnaround one would expect,” he said, putting his case for going to the Fund at this time. (CM)
Please read the full story in today’s Sunday Sun, or in the eNATION edition.
