Preservation of life and property is the most pressing instinct when faced with the threat of a natural disaster. But after survival, the next phase – recovery – can be the more arduous and complex feat. Since 2010, the Caribbean region incurred an estimated US$3.2 billion in damage to housing, crops, and infrastructure while total deaths amounted to nearly 180 persons. At … [Read more...] about Avoiding A Debt Disaster
The May 24, 2018 General Elections in Barbados were historic in many respects. For the first time, the Parliament of Barbados was allowed to automatically dissolve on March 6, 2018, without the setting of a date for elections. It was the first time in the history of Barbados that a political party won all of the parliamentary seats in the House of Assembly. This emphatic … [Read more...] about ‘Daunting, but doable’ – Barbados takes a path towards sustainable economic growth
Do you know that the smallest U.S. state has a similar land area to all of the OECS countries combined? The six independent countries in the Organization of Eastern Caribbean States (OECS) are Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines. Now, try to imagine that these small islands being hit by a hurricane … [Read more...] about Surviving the Storm
By: Kimberly Waithe Loans from commercial banks in Barbados stand at one of its lowest levels since the early 1990s. In fact, commercial bank credit has been sluggish since 2009, averaging around 0.6% annually over the past five years with recent figures showing a decline by -1.1%. This outturn represents a significant reversal considering that during 2004 to 2008 due to a … [Read more...] about What’s happening with loan growth in Barbados?