Local

Dr. Kevin Greenidge the new Central Bank Governor

The Central Bank of Barbados is pleased to announce the appointment of Dr. Kevin Greenidge as its eighth Governor, effective March 1, 2023.

Dr. Greenidge was most recently a Senior Economist at the International Monetary Fund (IMF). However, from 2018 until 2022, he took a leave of absence to act as Senior Economic Advisor to the Government of Barbados, where he was instrumental in the design and implementation of the Barbados Economic Recovery and Transformation (BERT) programme.

He also previously spent 17 years at the Central Bank of Barbados, where he rose through the ranks to become the Bank’s Director of Research and Economic Analysis from 2009 until 2011.

His more than 25-year career spans economics, finance and public policy. He co-edited two books, Aspects of Financial Liberalisation and Capital Market Development in the Caribbean (2008) and Proceedings of the Conference on “Corporate Governance in the Financial Sector” (2003), and he has published over 200 papers in regional and international journals on a range of topics, including the measurement of financial liberalisation and the challenges of policy makers in small developing countries, issues of exchange rate misalignment in the Caribbean, cross country monetary effects, and growth and convergence in the Caribbean.

His current research focus is on growth and debt dynamics in small island economies, the macroeconomic effects of governance and corruption, and on fiscal multipliers and growth. Dr. Greenidge is also a member of the International Atlantic Economic Society, the Western Economic Association, and a Fellow of the Cambridge Commonwealth Society. He is also a referee for a number of journals.

Dr. Greenidge holds a B.Sc. in Economics with first class honours from the University of the West Indies, a Masters in Economics from the University of Cambridge in the UK, and a Ph.D. from the University of Nottingham, also in the UK. He also holds an associate degree in Business Management from Columbia University.

With his appointment, Dr. Greenidge will succeed Mr. Cleviston Haynes as Governor. Mr. Haynes, a lifelong Central Banker, demitted office on January 31, 2023, after six years at the helm.

Dr. Greenidge’s six-year term follows a short transition period, during which Acting Governor Alwyn Jordan will continue to oversee the Bank’s day-to-day operations. Mr. Jordan will then revert to his substantive role as Deputy Governor.

“I am delighted that Dr. Greenidge is taking up the post of Governor. He is an accomplished economist, with a vast range of experience in economic research, management and policy making. We look forward to working with him, as we seek to support the country’s economic recovery, while ensuring that we fulfil our mandate,” Mr. Jordan commented.

In addition to Mr. Haynes, the Bank’s previous Governors include Dr. DeLisle Worrell (2009-2017), Dr. Marion Williams (1999-2009), Mr. Winston Cox (1997-1999), Mr. Calvin Springer (1992-1997), the late Dr. Kurleigh King (1987-1992), and the late Dr. Courtney Blackman (1972-1987). (PR/GIS)

Local

Remembrance Day Parade On November 10, 2024

Barbados will remember the servicepeople who lost their lives during World Wars I and II, with the customary Remembrance Day Parade and a short inter-denominational service at the Cenotaph, National Heroes Square, The City, on Sunday, November 10.

The parade will commence at 8:00 a.m. and will be broadcast live on national television and radio.

Several armed and unarmed uniformed groups will be on parade, including the Barbados Defence Force, The Barbados Police Service, the Barbados Legion, the Barbados Fire Service, the Barbados Prison Service, the Boy Scouts, and Girl Guides.

Wreaths will be laid at the Cenotaph by the President of Barbados, Her Excellency The Most Honourable Dame Sandra Mason; Prime Minister Mia Amor Mottley, Chief Justice Leslie Haynes, members of the diplomatic corps, and other dignitaries.

The service will be followed by an informal inspection of veterans and a march-past by uniformed groups. Members of the public desirous of attending the event are asked to collect tickets from the receptionist at Government Headquarters, Bay Street, St. Michael, from Monday, November 4, between 8:30 a.m. and 4:30 p.m.

Local

Key Reminders When Considering Investment Opportunities

The Financial Services Commission (FSC) is reminding the public to exercise caution when considering investments in Multi-Level Marketing (MLM) schemes. While MLMs may present themselves as legitimate business opportunities, some can be risky or even illegal, leading to significant financial losses.

Here are some key things to consider before making any investments:

1. Research the Company/Person(s): Thoroughly investigate the background, business model, and reputation of any of the company or persons involved. Verify whether the company or persons associated with the investment are registered and regulated by relevant authorities like the Financial Services Commission.

2. Understand the Business Model: Genuine businesses generate revenue primarily through the sale of products or services, not recruitment of participants. Be wary of models that emphasise recruitment over product sales.

3. Check for Red Flags: Promises of high returns with little effort, emphasis on recruiting others, or pressure to make large upfront investments are warning signs.

4. Consult with Experts: Seek advice based on your financial goals and wherewithal from regulated individuals or companies set up to provide such guidance.

The public is urged to approach all investment opportunities with caution and conduct their due diligence to safeguard their financial well-being.

It is an offence for persons not registered or licensed with the Commission to offer investment advice, sell financial products or deal in securities.

The public is encouraged to notify the Commission of any situations where entities or individuals engage in these practices without being duly registered and/or licensed. (PR/GIS)

Local

Barbadians Continue To Benefit From UNESCO Training In Cuba

Barbadians continue to benefit from UNESCO training courses in Cuba, despite the country experiencing an island-wide blackout from Friday, October 18.

Three Barbadians are currently in Cuba participating in the Caribbean Cultural Training Hub of the UNESCO Programme Transcultura: Integrating Cuba, the Caribbean and the European Union through Culture and Creativity, which was organised by the UNESCO Regional Office in Havana, and funded by the European Union.

Historian and Genealogical Researcher, Stacia Martindale, is participating in the course Designing Small Businesses in Heritage Tourism Destinations, while Landscape Architectural Technician, Kodi Husbands, and Assistant Coordinator and Researcher of the Barbados National Register of Historic Places, Rhianna Smith, are participating in the course Introduction to the Management of Integrated Development of Historic Centers.

They shared their experiences of being in Cuba and about the courses they are studying.

Ms. Martindale said: “So far, the experience has been very amazing. I’ve been loving the culture of Cuba and the general experience in class.

It’s really been exciting for me. It’s my first time in Cuba. I think I know quite a bit about Cuba just because I’m really interested in History. I’m actually a History teacher, so to come here, where that history has happened, is really, really exciting for me.”

Mr. Husbands, who is on his second visit to Cuba, shared that the first time he visited was on a vacation. “It really resonated with me. I got to understand the culture a lot more [and] I was able to identify with the people after speaking to them about their experiences and how they live. That’s what inspired me to continue working in sustainable architecture and design, and cater for society and the people, rather than doing it for money.

“So far, I’ve found different methods or techniques and practices which can be useful for back home in my field of architecture. And different ways I can further develop my country, whether it’s towns like Bridgetown, Speightstown, or Oistins. Or even smaller communities like in the East Coast, or in St. George or more rural areas as well,” he remarked.

It is also the second time for Ms. Smith, who previously benefitted from a course in June, this year, at the prestigious International Film and Television School of San Antonio de Los Baños, on the outskirts of Havana.

“This experience has been a lot different compared to when I was in San Antonio. Havana is a lot more active and has a lot more to see. And so, I’ve been able to immerse in the culture in ways that I was not able to the first time around,” Ms. Smith said.

She added: “We have been having some tours where we have been seeing examples of not only the restoration of historic sites and buildings, but also the repurposing of those buildings for uses that really fit the community. For instance, earlier this week we visited a daycare. But it was a day care for the elderly which doubles as a day care for babies, and so on.

“And so, what they are trying to do is to integrate those two generations and, of course, develop a consciousness of caring for the elderly. Things like that have led me to conclude that it’s been nothing short of inspiring so far, and I’m just looking forward to seeing where things go.” (PR/GIS)

Caption: From left to right – Rhianna Smith, Barbados’ Ambassador to Cuba, Dr. Sharon Marshall; UNESCO Director Anne Lemaistre; Stacia Martindale; and Kodi Husbands pose for a photograph