From Our Road To Damascus Files…
“Barbados now spends about half-a-billion dollars more on imports than we earn from the sale of our goods and services, and we can choose to borrow that half-a-billion dollars. But of course that is not the way. We have at some stage to begin to earn it and to close the gap between the foreign exchange that we earn and the foreign exchange that we spend…”
“…Barbados needs to be able to expand its capacity to earn foreign exchange and this is the national priority to which I call the whole country. We must not continue to borrow to pay our way. We must earn our way, and to do so we need new production capacity.”
He said the island needed projects which will give it the assurance that the day will come when the country will be able to pay its foreign-exchange way in the world.
Prime Minister Owen Arthur in The Nation News (complete article – link here)
What is even more fabulous about this story is that the PM said these words while touring the Kensington Oval worksite.
Remind us… how much money did we borrow for Cricket World Cup? Will the CWC bring in more money than we borrowed? Will we then immediately pay back the money we borrowed to host the event?
For the answers to all these questions…
I don’t know. Maybe its time to take out the old Chicken Foot Voodoo Stick again!
photo – PM Owen Arthur lectures nation from deficit-funded Cricket World Cup site. Photo courtesy of The Nation News – fair trade for the link.