Central Bank governor gets injunction to stay in office

GERALYN EDWARD, geralynedward@nationnews.com

Added 13 February 2017

delisleworrellcentralbankgovernor

Governor of the Central Bank of Barbados, Dr Delisle Worrell. (FILE)

GOVERNOR OF CENTRAL BANK of Barbados Dr Delisle Worrell went to the High Court yesterday and successfully sought a temporary injunction against the Minister of Finance.

In an unprecedented move, Worrell was granted a Sunday night hearing before Justice Randall Worrell in the Supreme Court, where the Governor’s lawyers were successful in their request.

Sources said Worrell was reportedly given a choice – resign or be fired.

The economist, who is in his 70s was appointed Governor in 2009 and received another five year term in 2014.

Faced with heavy criticism over the years from the opposition, including the Barbados Labour Party’s economics spokesman Dr Clyde Mascoll, and former Prime Minister Owen Arthur, it was revealed last week by the SUNDAY SUN that the board of directors and top management at the Central Bank were fed up with the way Worrell was running the bank.

Apart from the criticism over the Central Bank’s continued lending to the Government, regarded as the printing of money, Worrell has stopped holding press conferences for the past three years, choosing to only issue press releases and media programmes created by the bank with panellists hand-picked by the bank. (GE)

 

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