“Former Barbados prime minister Owen Arthur said that the Central Bank had printed BDS$370 million to purchase Government Treasury Bills, which had caused the country’s foreign exchange reserves to plunge.  ‘The printing of money on this scale to accommodate government’s fiscal deficit is the chief factor that has triggered the dramatic plunge downward in the country’s foreign exchange reserves.  If this plunge downward is not immediately checked, the economic affairs of Barbados will enter a new and very dangerous territory,’ he warned, reminding of the economic and social problems of Guyana and Jamaica as a result of excessive increases in money supply and inflation.”

http://www.caribbean360.com/index.php/news/barbados_news/1086499.html

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy