Indiscipline to blame
BARBADOS’ LARGE APPETITE for consumption and Government’s unwillingness to demonstrate fiscal discipline will come back to haunt the island.
And while he declined to say whether he supported a devaluation of the Barbados dollar, United States-based Barbadian economist Charlie Skeete warned that if a lid was not kept on spending, eventually “the Barbados currency will devalue itself”.
Skeete was also doubtful that the Barbados economy could sustain a major wage hike for public sector workers at this time.
He voiced his concerns Wednesday night at Frank Collymore Hall while participating in a panel discussion at the 7th Annual Fortress Investment Forum. (SC)
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