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Offshore sector ‘fighting back’

BARRY ALLEYNE, [email protected]

Offshore sector ‘fighting back’

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THE COUNTRY’S INTERNATIONAL business and financial sector is under the gun, Minister of Commerce and Industry Donville Inniss readily admits.

But it is fighting back for sure.

That’s the word from Inniss after former prime minister Owen Arthur last week lambasted Government for allowing the important sector to fall from grace and place more pressure on the country’s foreign exchange standing.

Arthur had told the media that the sector at its highest peak earned the country $356 million in foreign exchange back in 2007, but that even during recessionary times, it was ridiculous that it only brought in $96 million two years ago.

He said that for some of the economic pressure to be lifted off the back of the country, the conditions under which business was done in Barbados would have to change.

Please read the full story in today’s Daily Nation, or in the eNATION edition.