FORMER PRIME MINISTER Owen Arthur recently issued a very stern warning to those who handle the treasured coffers of this country.
His caution was that the serious financial crisis facing Barbados must be resolved within the next 90 days in order to avoid a financial calamity.
That was Tuesday, and today, the clock is ticking and the days are counting down.
Arthur, an economist, said there was a distinct possibility of the country running out of foreign reserves.
Barbados’ fortunes now are under the microscope but so too is the man at the helm of this country’s Central Bank.
While on one hand we are grappling with Barbados’ financial standing as we strive to stay afloat and escape the stranglehold of the economic noose that is tightening daily, the governor of the Central Bank Dr DeLisle Worrell is today fighting to keep his job. Undue delay in sorting out these issues can have dire consequences.
It is for this reason that we embrace the call by the Barbados Private Sector Association as it appealed to all sectors to join the ranks to come up with solutions to the problems that threaten the economic health of the country.
It strongly believes that Barbados has the ability to pull itself up by its own bootstraps to stave off any worsening of the economy.
We echo this call, recognising that every sector, every company, every business and every individual has a stake in rescuing the economy.
The call was strong from the private sector body to put aside prejudices as this is no time for partisan political thinking or bias. Let us take a leaf from the books of the politicians who are sometimes able to put aside their political views for the greater good.
In this instance, it would do well for Barbadians to come together to recognise we are all in this together and despite any differences, work together to achieve a common goal. It is pointless at this time for individuals to “break for themselves” as this would only lead to economic disaster.
While we come and put our heads together to find a way out of this mess, we also hope that this latest issue surrounding the governor will soon be resolved as we can ill afford to take our eyes off the ball.
Former Minister of Finance Arthur believes this new twist might give the country a chance to correct what he described as the disastrous financial policies pursuedby Government. We will await the outcome of Worrell’s case before we rush to judgment. What we do know is that there is unity in strength and power in numbers as we seek answers to solve Barbados’ economic issues.