Nation e-Edition

What’s Trending: IMF clash

What’s Trending: IMF clash

Sun, October 28, 2012 - 10:28 AM

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

Today’s Sunday Sun front page story revealed that Central Bank Governor Delisle Worrell went head-to-head with the IMF boss Christine LaGarde in Japan telling her that devaluation is not an option for this country. Several of our online readers weighed in on this story.

Tony Webster: While some folks of the left hand are over-and-away, soothing the rating agencies, and (as I recall, also some arm of the IMF) and rather stridently proffering that our currency peg  is "safe, the right hand is playing hard-ball in Japan, with the Top Lady herself. We cannot of course overlook our PM's recent and highly significant  “courtesy call” on Miss LaGarde herself, so one must assume that we have exhausted our stock of calming and soothing words and entreaties, and that there is nothing now to be lost or gained by calling Lagarde out-of-order, publicly!  I wonder, just who holds the high cards? Am I nervous? Looka, ring de bell please. Dis gine pas' joke now. RING DE BELL.

Mark Walkes: Too right. Devaluation should not be on the table as an option. Devalutaion does nothing in the medium to long term to the economy, and furthermore how have IMF driven currency devaluations have recovered?

J.C.P: I dunno know what to tell the DLP. Don't come back to the public now saying you feel all mislead. The IMF's role is to give you money with strings attached, you either can accept, of walk away. This administration accepted, and now wants to change the terms? Argentina (which is many times larger than Barbados, and has considerably more clout therefore) tried that and failed. I eh know what to tell you now other than, "who hard-ears gine feel !" He can have all the heated exchanges he wants with them, but at the end of the day they hold the cards, and when they're finish talking they will just downgrade the country another peg. The current Governor of the Central Bank should resign and allow someone else to be selected to fill the role because the money must be paid back now. Play-time is over!

Titus Thomas: We are already in bed with them now we are having bedroom squabbles. Maybe it is time the Governor put party aside and tell the proud people of this nation the truth. Just like you claim the IMF gives bad advice, you have been giving Sinckler and this country bad advice.

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