Central Bank Governor outlines new strategies for sustained growth

BRIDGETOWN, Barbados, CMC – Central Bank Governor Dr. DeLisle Worrell Wednesday urged Barbados to seek ways of increasing foreign exchange earnings and called also on the government and the private sector to invest in “creating new high quality productive capacity, improving productivity, and maintaining and upgrading infrastructure”. Addressing the luncheon meeting of the Barbados Chamber of Commerce and Industry (BCCI), Worrel said that while there is every reason to be confident of the economic future, “the adverse impact of the prolonged global recession is a reality we cannot escape, and because we depend so heavily on foreign exchange we do not have the option of bettering our lives by depending on our own resources. “We must therefore seek ways of increasing foreign earnings from the activities we are renowned for, tourism, international business and rum, and of economising on oil imports by generating green energy. “We know what this entails: increasing government efficiency, de developing more appropriate financial strategies, and transforming work attitudes.”