Risk to BERT
BERT Monitoring Committee co-chair Edward Clarke says the major electricity reliability challenge Barbados now faces needs to be fixed decisively; otherwise, it could ultimately threaten Barbados’ economic recovery efforts.
Clarke, who delivered the committee’s fourth public report yesterday during a press conference at Sagicor’s Cecil F. De Caires Building in Wildey, St Michael, said up to the end of September, Government was on course with its various targets, including fiscal and monetary objectives.
However, he was concerned about the economic implications of Monday and Tuesday’s islandwide power outage.
“There is no doubt that it has a negative impact on productivity and as such on the economy – there is no doubt about that. It is hard to measure how much at this stage, but overall I think the BERT programme targets you should still be able to meet them. I don’t think that will stop us from meeting the targets; that would not be a reason to stop us,” he said in response to questions from the media.
However, he added: “However, if it continues, that’s a different matter. That’s why it is important that this situation be remedied immediately, and I think the Prime Minister and the Light & Power and all involved have done a good job to try and reassure Barbadians, the general public and investors that they have it under control and we can be reassured that things will get better.”