THE BARBADOS GOVERNMENT has been jolted into acceleration mode in an effort to “restructure and develop” the Barbados economy, following a recent humiliating downgrade by international credit rating agency Standard & Poor’s (S&P). Minister of Finance and Economic Affairs Chris Sinckler met with the Joint Advisory Council of Government yesterday at Hilton Barbados – a meeting that was originally scheduled for later in the year – in an effort to push ahead with plans regarding the Medium Term Fiscal Strategy (MTFS). The Advisory Council is made up of private sector, the labour movement and civil society groups who advise the Government on economic policies. It is chaired by Professor Frank Alleyne. “It was brought forward in light of the recent economic development to reaffirm our commitment to the process of restructuring and developing this economy, to our fiscal consolidation programme as expressed in our Medium Term Fiscal Strategy and our overall development strategy as expressed in our Medium Term Development Strategy,” Sinckler told the DAILY NATION, shortly after he left the over four-hour long meeting.
