Prime Minister says: Foreign reserves continue to grow

The year 2020 is going to be a great year for Barbados; and Prime Minister Mia Amor Mottley attributes this to the fact that Barbados’ foreign reserves have been able to grow to $740 million USD.

Mottley revealed this Thursday evening, as she delivered remarks during the opening ceremony of the Annual Consultation with Caribbean Governors, which was hosted by the Inter-American Development Bank (IDB) at the Hilton Resort.

She stated that this goal did not happen by accident and attributes this achievement to the help of organisations such as the IDB and the Caribbean Development Bank, adding that she believed that Barbados would not have been able to lift itself out of the hole it dug itself into, without the help of these entities, among others.

Mottley noted that while it has become easier to “lift ourselves out of the hole” there is still recovery work and heavy lifting that needs to be done.

“But what you did was to allow us to be able to see the opportunities, to be able to see the way that the Governor of the Central Bank pointed out recently, that growth is ahead of us in this year of our Lord,” she said.

“This is a country, whose economy stagnated over the last decade, we call it the lost decade and we say it stagnated because in real terms there has been a devaluation in the lives and pockets of Barbadians and there has been too many institutions that we wish to recount at this stage.

“We have turned a corner and despite the efforts of the media to distort what was said yesterday, the future of this country this year looks good.”

She was adamant that the future did not look good simply because they wanted it to, as persons have said in the media, but rather the future looked good because of the actual hard work has been done on projects. (CLJB)