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    September 21

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Second wave would worsen economy, says Cox

TONY BEST,

Added 16 August 2020

cleviston-haynes

Central Bank Governor Cleviston Haynes. (Picture by Sandy Pitt.)

If global economic conditions worsen and a second wave of the coronavirus strikes as some scientists and analysts expect, Barbados’ economic picture would worsen before it improves.

That dire warning came from Winston Cox, a former Governor of Barbados’ Central Bank, who told the Sunday Sun that in the face of the expected continuation of economic recessionary conditions in the United States, Canada, the United Kingdom  and other major economies on which Barbados depends for tourists, investment and trade, there was “precious little” Barbados and the Mia Mottley Administration could do to reverse the negative trend engineered by the COVID-19 pandemic and the substantial decline in economic production.

winstoncoxDescribing the recent report on the half-year performance by Cleviston Haynes, Central Bank Governor, as candid and reflective of existing conditions, Cox cautioned Bajans not to push the panic button.

“The Governor’s assessment of economic conditions was an extremely candid one and I am not at all surprised, given what has happened there in the Barbados economy,” said Cox. (TB)

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