Friday, March 29, 2024

Haynes: $2b buffer against COVID fallout

Date:

Share post:

Central Bank Governor Cleviston Haynes is confident that Barbados’ near $2 billion in foreign reserves leaves Barbados comfortably placed to ride out the COVID-19 pandemic.

The economist also said, however, that even though Government had slashed its primary surplus target by about $500 million this financial year, achieving the lower figure “will really depend on how strongly we are able to maintain economic activity going forward”.

He was speaking Thursday night as he and governor colleagues from Guyana, Jamaica and the Eastern Caribbean Central Bank participated in an online discussion on the topic COVID-19 And Economic Policy: Protecting Our Jobs, Businesses And The Economy.

Haynes told the regional event, which was moderated by veteran journalist Julian Rogers, that “we were significantly impacted by this COVID crisis”, but he also noted that “the one thing that really has stood out for us is that our reserves held steady”. (SC)

Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android. 

Join Nation News on WhatsApp

whatsapp-alerts

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Natassia’s journey from tragedy to triumph

In a world often characterised by turbulence and uncertainty, a beacon of hope often emerges from some of...

No decision yet on Lester Vaughan School

A firm decision has not yet been made regarding when the Lester Vaughan School will be reopened. Following a...

BDF to conduct simulation exercise on April 2 & 3

The Barbados Defence Force (BDF) will conduct a Mass Casualty Simulation Exercise from Tuesday, April 2, to Wednesday,...

Barbadians reminded to file taxes online as filing season starts

The Barbados Revenue Authority (the BRA) is advising that tax filing season for 2023 begins on April 1 this...