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Minister Straughn Holds Talks With IMF Mission Chief

Minister in the Ministry of Finance, Ryan Straughn, has expressed renewed confidence in the Barbados Economic and Recovery Transformation Programme (BERT).

He said Government would continue to emphasise the benefits of the programme to the entire country because it had “catalysed a whole set of access to other things beyond what we had initially anticipated”.

Minister Straughn gave the undertaking on Monday, as he, along with Minister in Economic Affairs and Investment, Senator Chad Blackman; Central Bank Governor, Dr. Kevin Greenidge; and other senior government officials met with Barbados’ International Monetary Fund (IMF) Mission Chief, Michael Perks, and his team during a staff visit at Government Headquarters.

Mr. Straughn stated: “Our job really is to ensure that the reforms continue to be implemented because they are important, and the Barbados Economic and Recovery Transformation Programme is critical to Barbados’ future success. Therefore, irrespective of what happens politically, these are the things that we have done, and will continue to do…”

The Minister pointed to the upcoming World Cup Cricket T 20 finals and other key events slated to be held in the county as a sure sign that confidence was returning in several key areas.

He assured the IMF team that Government was “even more committed today and energised to ensuring that these things happen in a timely manner”.

Mr. Straughn also reminded the team that Barbados had been removed from the Financial Action Task Force’s (FATF) List of Jurisdictions Under Increased Monitoring, also referred to as the FATF Grey List.

He shared that there were 53 areas that needed to be addressed when they came to office in 2018. Minister Straughn said last December there was one area to be dealt with and now “Barbados is officially off the FATF list”.

He continued: “So, the EU (European Union) and those who had us on those various lists will be addressed shortly in relation to upping the compliance based on what we have done for the last five years to address some of those issues.”

The Minister also mentioned continued work with the Corporate Affairs and Intellectual Property Office to provide better business facilitation and enhanced regulation of growth.

Mr. Straughn stated that he also wants to see greater business opportunities; and the recruitment of the right skills set to ensure consistent communication among the business community to facilitate accurate reporting with regulation agencies for the exchange of information, among other things.

He also provided an update on the global minimum tax framework, the proposed Patent Box Regime to unlock opportunities to attract overseas businesses for the purpose of carrying out research and development into new products, specific internet portal related investments, and other areas.

Meanwhile, Dr. Greenidge gave a report card on the island’s economic performance saying that the island had met all of its targets at the end of last year.

He added that the economy grew by 4.5 per cent last year and this was “on top of the 13.2 per cent the year before. So, we are back to our pre-COVID levels…slightly bigger in nominal and real terms. There are some areas like agriculture, manufacturing, and the changing business model of one of our major players – the Arawak Cement Company”.

He continued: “But generally, our unemployment level is one of the lowest…. In fact, the only time it was that low was when we did the Kensington Oval for World Cup in 2007, and ironically this year, we are doing some investment in that area, so we expect that to support strong growth.”

Mr. Perks congratulated the Government of Barbados on being removed from the FATF Grey List, deeming it a “major achievement”. “Even though the public may not really understand it, the board feels really strong about it, so that was a big thing,” he underlined. (PR/GIS)

CAPTION: Minister in the Ministry of Finance, Economic Affairs and Investment, Ryan Straughn, speaking at yesterday’s meeting with new IMF mission Chief, Michael Perks at Government Headquarters while Minister in Economic Affairs and Investment, Senator Chad Blackman (right), Central Bank Governor, Dr. Kevin Greenidge (third from right); and other senior government officials, look on.

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One Family hamper drive gets $75,000 boost from Sandy Lane Charitable Trust

Christmas 2024 just got a lot brighter for the 1000 families of the One Family programme under the Ministry of People Empowerment & Elder Affairs (MPEA), thanks to a donation of BBD. 75,000.00 worth of grocery hampers from the Sandy Lane Charitable Trust (SLCT).

Representatives of SLCT, including Derrick Smith, Grand Patron and founding Trustee, Trustee Pippa Challis, and Project Coordinator-Administrator Nekei Grant, were recently at One Family’s Warrens office to present the donation to the One Family Project Team. Present to receive the donation were Minister, the Hon. Kirk Humphrey, Permanent Secretary Jehu Wiltshire, Social Development Project Manager Nicole Daniel and Project Officer Lisa Holder.

Minister Humphrey commended SLCT and thanked its Board of Trustees for their ongoing work in Barbados, and specifically with his Ministry, noting that such partnerships could help break cycles of generational poverty in Barbados.

“The government of Barbados is passionate about the objectives of this One Family project, and we believe in what we are doing. We see One Family as the first initiative with the potential to break the inter-generational cycles of poverty, a purpose and objective that traditional government agencies were not designed for. Traditional approaches have not been holistic enough, and One Family gives the first real opportunity to break that poverty exchange between generations,” Minister Humphrey said.

Commenting in response, Trustee Pippa Challis said SLCT was pleased with the ongoing amazing partnership with MPEA. She said One Family had positively impacted SLCT’s work regarding due diligence and background investigations necessary to make the outreach work more effective.

“Our partnership with the One Family Programme Team is truly beneficial to both organisations, as we work towards one common goal of achieving social change. Our ability to rely on the One Family team to provide accurate, timely and reliable information means that our assistance can reach the most deserving families. Whether it is providing beds, back-to-school supplies or food vouchers, we know that we are reaching the right families. That’s why this collaboration works for us, as much as it works for you.” Mrs Challis, further commends the team on their success with the programme thus far and the amazing job they are doing.

One Family Project Manager, Nicole Daniel, said the SLCT donation would significantly boost this year’s hamper donation drive, bringing much-needed supplies and tangible Christmas cheer to the 1,000 families and hundreds of children currently served by the Programme.

“One Family is not a hand-out programme but concentrates on holistic transformation to help every family reach a stage where they can give back to their communities and Barbados.” (PR)

Caption: Pictured from left are SLCT Project Coordinator-Administrator Nekei Grant, One Family Project Officer Lisa Holder, SLCT Trustee Pippa Challis, Derrick Smith, SLCT Grand Patron and founding Trustee, People Empowerment Minister, the Hon. Kirk Humphrey, Permanent Secretary Jehu Wiltshire, and Social Development Project Manager Nicole Daniel.

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Men’s programmes lighting the way with support from Light & Power

Barbadian men are stepping up to mentor and inspire a new generation of male leaders to reach their full potential and light the path to a brighter future.

On International Men’s Day recently, two such organisations were recognised and supported with financial donations from the Barbados Light & Power Company (Light & Power). The Rites of Passage: Boys to Men program, led by Anthony Seale and Reverend Derick Richards of the James Street, Speightstown Circuit of the Methodist Church, and the Purpose 180 Foundation, founded by Nigel Jules, were both lauded for their contributions during a presentation held at Light & Power’s Garrison, St. Michael Headquarters. Both organisations spoke about the impactful initiatives they have established to support young men in Barbados.

Light & Power said it was pleased to support programs focused on mentoring and uplifting at-risk young men.

“These programs are crucial in empowering young men to reach their full potential, and Light & Power is pleased to support and partner with initiatives like Rites of Passage and Purpose 180 that actively work to create brighter futures for the next generation of young male leaders.”

Both programs focus on mentorship, character building, and equipping young men with tools to overcome challenges and achieve personal and professional growth. (PR)

Caption: Light & Power employees, including at left, Communications Advisor Adriel Richard, and to the right, Chano Belle, Manager, Finance (Supply Chain) and Curtis Brewster, Supervisor, Dispatch and Quality Control, with visiting organisation representatives Nigel Jules of the Purpose 180 Foundation (second from left), and Reverend Derick Richards and Anthony Seale of the “Rites of Passage: Boys to Men (BTM) programme” of the James Street/Speightstown Circuit of the Methodist Church in Barbados (at centre)

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Yearwood wins first 5k Run/Walk

Kristian Yearwood won the inaugural 5k Run/Walk to Help 5k held on Sunday. He clocked 21:36 in the running race, 2nd place went to Ralf Luther in a time of 22:05, followed by Fr. Andy Nyga in 3^rd with a time of 23:40. The top three runners in the female segment were Adeline Lamorell,27:17, Phillipa Sylvester, 30:46 and Sumaya Desai, 47:22.

The event was organized by the Roman Catholic Diocese of Bridgetown and is a fund raiser for church’s ministry to the poor in our community as well as to assist the Child Card Board. What started last year as a fun walk now features competitive 5k races in running and walking. The blend of race running and walking along with fun walking should see the event attacking a cross section of participants.

Anderson Maughan was the winner in the walk race in the male segment with a time of 30:59, he was followed by Anthony Phillips in 34:50 and Akil Bryan in 37:40. Angela Jackson crossed the line in 36:31 to win the female walk race she was followed by Fay Waithe in 40:42 and third place was taken by Mary Moseley in 41:57.