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No devaluation threat

NATASHA BECKLES, [email protected]

No devaluation threat

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THE BARBADOS DOLLAR is not in danger of being devalued.
That’s the view of seasoned economist Dr Clyde Mascoll, who wants Barbadians to “stay away” from such talk, pointing out that Barbados had adequate foreign reserves to negate any such issue.
Mascoll, a former Minister of State in the Ministry of Finance and a current Opposition Barbados Labour Party spokesman on economic matters, was responding to a question about devaluation last night during a First Citizens Investment Services market outlook seminar at Frank Collymore Hall.
He said while in the current climate some people tended to “get very worked up” that a currency devaluation in Barbados was imminent, Mascoll said “devaluation is a good ways off in Barbados”.
“If we can get the fundamentals right and do other things and get the policy prescription right then we should not even be using the word in Barbados,” he said. (SC)