What’s Trending: IDB loan in works

Fri, October 05, 2012 - 12:30 PM

The Nation’s Associate Editor, Sherie Holder-Olutayo takes a look at what’s trending today in Barbados.

Today’s Weekend Nation front page story where the Barbados Government has approached the IDB for a $66million loan to help shore up the country’s finances has sparked the interest of our online readers. The IDB has also expressed concern that the country’s financial situation has worsened and cited numerous statistics to support their stance. Here are some of our online readers comments.

Tony Webster: The $64 M question: How many more loans between now, and polling day?

Carl Harper: Borrowing "$66 million to shore up" Government's finances, and the IADB expressing concern that Barbados’ fiscal situation has worsened. I would like to hear Sinckler and Dr Worrell's response to this news. So far S&P and the IMF, and any other agency that dare criticize Government's fiscal policies, have received a blistering tongue-lashing from Sinckler and Worrell. The only one left to get a cussing is the IADB. "Tax exemptions costing the Treasury $500 million every year or 5.6 per cent of GDP." Now that is a lot of money. I am not sure that all these "exemptions," at taxpayers expense, benefit the wider society. Recently we have seen even dentists and medical doctors requesting duty free access. A visit by a sickle cell patient in crisis to a private medical clinic cost the family $3,500 for a four-hour IV treatment. Government needs to attach conditions to these exemptions, and not approve them willy-nilly.

J.C.P: A next loan again? Who are we Mr. Borrowing’s son?