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‘No escape’ from austerity


SHAWN CUMBERBATCH, [email protected]

‘No escape’ from austerity

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MORE AUSTERITY IS in store for Barbadians regardless of whether the “poison” originates at home or comes from the International Monetary Fund (IMF).

Respected Caribbean economist Marla Dukharan said this was the reality Barbados could not escape.

The Trinidadian, who is chief economist of Barbados-based financial technology company Bitt Inc., said the island needed to urgently address its worrying fiscal balance and debt, the lack of real economic growth and the low stock of foreign reserves.

But even as she identified the challenges and said the IMF option should be considered, Barbados Private Sector Association chairman Charles Herbert said the “biggest problem” Barbados faced was the absence of implementation and leadership. (SC)

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

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