Tighter Belts

Article by GERALYN EDWARD

IF BARBADIANS THOUGHT 2017 would be one of relief, a private sector leader says trouble is on the horizon, while the Central Bank governor is hinting that more belt-tightening measures are needed.

Governor Dr DeLisle Worrell announced this week that for the last three years Barbados was unable to bring in enough foreign exchange to keep up with the amount that was leaving the island, and so Government had to take action.

But last night, president of the Barbados Chamber of Commerce and Industry (BCCI), Eddy Abed, said business executives were not surprised by the statement.

“We have been tracking the foreign reserves for the last several months and the trajectory was not going in the direction it should be going, especially in light of the tourist season starting,” he pointed out. (GE)

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