Rebuke for Royal
ROYAL BANK OF CANADA (RBC) and its group economist from Trinidad and Tobago got a blistering rebuke yesterday from Minister of Finance Chris Sinckler.
A clearly angered Sinckler blasted the bank and its economist, Marla Dukharan, during his presentation in the House of Assembly on the Appropriation Bill 2016, lashing the prescriptions offered as “foolishness” and “creating confusion in the economy”.
During the bank’s 2016 Economic Outlook Seminar at Hilton Barbados last Wednesday night, Dukharan said Barbados “could probably muddle through this high-debt, low-growth scenario and we could probably get out of it very slowly and adjust and adjust until we get to a point where the budget is balanced”.
However, she suggested that “it would be easier and faster and would be of greater benefit to the country and economy to engage in a domestic debt restructuring in the near term”.
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