Cricket World Cup Spending Orgy – Barbados Borrows Yet Again

Barbados Needs Yet Another Loan To Fund Orgy Of Spending

Cricket World Cup Barbados is going to be one heck of a party. I just hope the hangover doesn’t last more than twenty years or so…

From The Nation News “Loan Bid Soon

Barbados could soon be going to the international market to borrow in order to boost foreign reserves.

Central Bank Governor Dr Marion Williams made the disclosure yesterday during her review of the economy for the first nine months of the year…

However, she declined to disclose the figure, noting it was “better” the announcement came from Minister of Finance and Prime Minister Owen Arthur…

Last November, Parliament gave the green light for Barbados to float a $250 million bond on the international capital market through a German bank, Deutsche Bank Securities Inc., to boost the foreign reserves and underwrite a significant portion of the expenses associated with hosting Cricket World Cup next year…

What Do You Mean, “The Good Economic Numbers Are All Cricket Construction?”

Central Bank Governor Dr. Marion Williams stated pretty much that in her review of the economy…

Again the non-traded sector led by construction, was the main engine of economic activity, increasing by 9.5 per cent on top of a 15.7 per cent jump for the same period in 2005.

This, the governor noted, reflected continued preparations for Cricket World Cup 2007 and various private residential and public infrastructural projects.

… Nation News Economy On The Up And Up

Let me see if I can figure this all out…

1 / We are borrowing big time to finance the construction associated with Cricket World Cup.

2/ The construction associated with Cricket World Cup is a “main engine of economic activity”…

3/ Which means that when the party is over, we will have to begin paying back the loan… but the engine of the economy that allows us to borrow for the party was preparation for the party itself… and the party will be over….

All too complex for me, so you had better pour me a double shot of Mount Gay, darlin’ … But I know if we ran our little house like the country is doing, we’d be out on the street in no time!

1 Comment

Filed under Barbados, Cricket, Politics & Corruption

One response to “Cricket World Cup Spending Orgy – Barbados Borrows Yet Again

  1. Rumplestilskin

    I agree…it’s is Gibberish.

    Ignorance is bliss and with the narrative above as quoting the goodly DR. obviously both apply.

    She may have numbers added up…but the concept is appalling.

    And I thought Gov’t was trying for exports to raise foreign reserves and boost the economy.

    Oh gosh.,..WHAT are they doing?