Island's Financial News

3,000 public sector workers in Barbados to lose jobs

• BRIDGETOWN

Barbados’s Finance Minister, Chris Sinckler, has announced cost-saving measures that will result in approximately 3,000 public sector employees on the island losing their jobs.
Sinckler made the announcement in a ministerial statement to the Barbados Parliament yesterday.
“We have estimated that it will affect 3,000 employees across the public service, central government and statutory entities.

“We have agreed that, if possible, there should be an even split in the proposed retrenchments between central government and statutory entities; but if not possible, then the split of 2,000 from the general service and 1,000 from the statutory entities must be imposed.”
He also disclosed that effective January 1, there will also be a freeze on all increments.

“Effective January 1, 2014, there shall be enforced a freeze on the payment of increments for the next two years. Appropriate arrangements will be made for the lost of income to be properly factored in to the computation of overall pension benefits... both the Ministry of Finance and Economic Affairs and the Ministry of the Civil Service, including the Personnel Administration division, have been mandated to continue consultation and negotiations with the workers’ representatives to ensure all appropriate steps are taken to safeguard the rights of all workers affected by these measures and to craft interventions aimed at mitigating the dislocation which will undoubtedly be caused, including those interested to enter into retraining and redeployment programmes in the private sector,” he said.

He said all members of parliament, permanent secretaries and personal assistants were taking a ten per cent salary reduction.
Ministries have also been instructed to immediately cut travel budgets by 50 per cent.
According to the finance minister, the governing Democratic Labour Party government is trying to plug a gap of BDS$143 million annually, including BDS$34 million in the last quarter of the year.
—CMC

One more reason that Guyana should opt out of  carricom and join A L B A  and U N A S U R 

kwami , u and Snoopster ran a woman off this board :

for accusing the PPP of aiding and abetting the drug trade....

now u want to leave ?

that will NOT solve the problem 

You is wrong mate I always  support Guyanese involved in the drug trade , after all who are  the victims here ?
White people consume cocaine and why should Guyanese not have piece of the action.

agree wit the kwams


problem is only the govt folks benifiting

So what they is all Guyanese

what is this chim impse callin mih name in he/she nonsense for ::confused::

the adding this piece of crap:

Barbados like all west indian countries borrow their own money from the bankers to whom they have given their curreicnes..when they want to spend any money at all..even a single dollar.

every penny they spend is borrowed at interest.  that means chin that a system is in place that strip mines the west indies and shovels all the money into boats heading to switzerland and into the coffers of international bankers.

if tourism has reduced it is the result of the same financial strip mining as it takes place in the developed world affecting ordinary citizens, who no longer has money to spend as tourists in the west indies.

so everywhere the banker strip mining of the finances of nations is having a deleterious effect on economies by concentrating all liquidity in very few hands, resulting in programs of austerity imposed on people, causing high unemployment and economic stagnation along with inflationary pressure

that is what underpins crap Bajan austerity and the imposing of high job cuts in the economy.  they have not been living high of the hog on debts which they must now find money to pay for.  indeed debt has been imposed on them for which they must now find money to pay or go deeper and deeper into debt which will force them in a very short while to give their country to the bankers much like what is happening in Greece and elsewhere at the moment


there is but one answer:  take back their currency from the international bankers and issue it to the government by their own treasury at no interest for spending on their national business

that is what they must all do to save themselves and their nations..take back their currencies and kick out the bankers, the IMF and the WB..while spendng their own money at no interest which is what it supposed to happen.

that is the system on which all national debt is built on..a system by which international banker bleed nations at no cost to themselves.  that is strip mining a nation, bleeding them to death.  it is a parasite scheme and bobol to the core.

anyway that is the problem and no other.  chin is an impse who does not know what's going on..and has no answer or understanding of the problem

dat Trinidad Ramkisson fella talks about there always being  excess liquidity....

well what is the nature of that liquidity?

Fractional reserve banking ensures that there is always liquidity.  you can always get money to borrow if the bank wants to lend you some whether hey have it  or not.  all they can do is create it out of thin air.

but the ordinary citizen cant do that.  that is counterfeiting.  but the banks can counterfeit all the time..and do counterfeit all the time.

we all live in a criminal financial soup that has always existed courtesy international bankers.  every body floats around as pristine, highly qualified economists and MBA and all dat crap but it is criminal comes' all the way....fake, fraud and hypocrissy

and impse chin comes here with all this as if it means anything but the fraud that it is...

there aint no fools here chin.  I can assure you that all the tests on this board know and understand what I say to be closer to the truth than your nonsense....

Chairman knows but he likes capitalism nevertheless.  he loves money and he believes in the system.  but he knows all the same.  and all the rest.  apparently is only you...... ::LOL:: ::LOL:: ::LOL:: ::LOL::