BRIDGETOWN, Barbados – In his most recent economic letter – Dr. DeLisle Worrell, immediate past Governor of the Central Bank of Barbados – looks at productivity lessons from Singapore, a country which has been compared and contrasted to Barbados from a development standpoint.
BRIDGETOWN, Barbados – According to the Central Bank of Barbados, the Barbadian economy grew by 2% in the first quarter of 2017. Foreign reserves also rose to $705.4MM BDS, but remain below the reserve level of 12 weeks of imports.
Source: Central Bank of Barbados
BRIDGETOWN, Barbados – Dr. DeLisle Worrell, immediate past Governor of the Central Bank of Barbados, continues his series of economic newsletters on his company’s website: DeLisle Worrell & Associates. The following is a full copy of his May 2017 economic letter (reproduced with permission).
It’s Worth the Effort to Save our Dollar Peg
The Barbados economy is dynamic and internationally competitive, led by a private sector that demonstrates remarkable enterprise and innovation, from our largest and most successful firms to youth entrepreneurs of outstanding promise. But our public sector is living beyond its means, and its low productivity is a drag on investment. Reduced Government spending and forceful measures for public sector reform are the key to arresting foreign reserves losses and securing the exchange rate anchor.