EDITORIAL - Cool heads must prevail
In life there are always challenges, but it is how we deal with those challenges that define us, and it is through these challenges that we become better.
Across the globe there are currently several countries and states experiencing economic hardships. As this editorial is being written, the United States’ stock market is seeking to recover from a shocking downwards spiral, which occurred earlier this week. However, here in Barbados the concern is low foreign exchange reserves, and a high expenditure that includes a steep debt repayment plan.
Barbados’ economic situation is serious, as the Governor of the Central Bank, Cleviston Haynes, indicated in his review last week. However, cool heads must prevail as a plan is formulated and steps implemented to bring about a more stable economy. Unfortunately, with General Elections looming in the near future, “cool heads” have been replaced with “hot heads” as some seek to cloud the issues with passionate pleas and rile up the masses with inflamed speeches. There also seem to be attempts to paint a picture of doom and gloom, or encourage anxiety amongst the public.
This was clearly evident in coverage in another section of the press recently, which not only highlighted an impending increase in the United States Domestic Fuel Surcharge (USDFS) and the potential for increased freight rates, but also sought to warn consumers ‘Food prices to rise again’. Though the main headline ‘Price Hike?’ was posed as a question, there was no question that consumers were being put on alert yet again to brace for economic hardships.
To say this was “jumping the gun” would be an understatement. An accompanying article from representatives of consumer organisations urging consumers to take a stand, took it even further, by highlighting possible action to be taken against an improbable rise in food cost. What was missing was the voice in reason that would seek to find more economical solutions for any rate increase. Where were the interviews with trade officials or distribution companies about alternative sources of goods? Latin America was not too long ago hailed as one of the more up-and-coming economic regions, and for years Barbados has reinforced ties with these neighbours. Why then wouldn’t one solution to the USDFS increase be to seek out alternative trade partners?
Furthermore, Minister of Commerce Donville Inniss – of whom there was no reference in the original story – has stated that calculations made in generating an increase in costs to consumers were off the mark. Citing only a 1.5 per cent increase, he went on to state that this translates to only an additional $69 per container for importers. “So a big front page article, designed to create panic in this society and to give the impression subliminally that once again under this government there is an increase in cost in the supermarket is grossly misleading,” he said.
The Minister did, however, echo the call for consumers to stand up for themselves and shop wisely. He expressed a need for people to exercise their right from the available options.
Likewise, there needs to be more accountability with regard to information being presented to the public. The policy for news organisations should always be to present a well researched, balanced and fair piece to media users, and this should be even more important with the impending “silly season”. Anything less and individuals might also seek to exercise their right to choose an alternative.