FORMER PRIME MINISTER Owen Arthur yesterday gave a grim prognosis for Barbados, warning that the medicine to cure the falling foreign reserves would be bitter.
The highly respected economist, who led Barbados from 1994 to 2008 and who has been approached to sit on the National Economic Council, said that the Government had retreated from the measures and now time was running out.
“. . . The economic situation facing our country is grim . . . . If we don’t stop the slide in reserves then we are in serious problems because if you run out of foreign exchange in a country like Barbados, heaven help you,” said Arthur, fresh from assisting with a policy framework for Grenada’s struggling economy.
Arthur, a former Barbados Labour Party leader, forcefully returned to the spotlight this week with rumours floating around that he had died and then news breaking that Minister of Finance Chris Sinckler had approached him to sit on the advisory council while the issue of the firing of Governor of the Central Bank Dr DeLisle Worrell was still very much in the air. (AC)
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