Barbados Central Bank governor in bid to stave off dismissal

(Barbados Nation) Minister of Finance Chris Sinckler, represented by Solicitor General Jennifer Edwards, will head to the High Court today to have a temporary injunction preventing him from firing Central Bank Governor Dr DeLisle Worrell lifted.

It is the latest development in a blow-up at the Central Bank which was exposed a week ago by the SUNDAY SUN in which it was revealed that the board of directors was no longer prepared to work with Worrell, who is the chairman.

The directors met with Sinckler days earlier and insisted that if Worrell was not terminated, they were prepared to step down.

Moreover, a major rift had also developed at the bank between the governor and his top management team who claimed he had not held management meetings for almost two years.

Meanwhile former Prime Minister Owen Arthur says Barba-dos is facing a serious financial crisis that must be resolved within the next 90 days in order to avoid a financial calamity.

According to Arthur, that is the distinct possibility of the country running out of foreign reserves.

He said the weekend upheaval involving Central Bank Governor Worrell might give the country a chance to correct the disastrous financial policies pursued by the Government.

Arthur, a former Minister of Finance, told the DAILY NATION in New York on Monday that the bad policy of printing money had played a role in both the current crisis Barbados was facing and the Freundel Stuart administration’s move to oust the governor.

More in World News

Comments

About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.

Get the day's headlines from SN in your inbox every morning:

Most Read This Week

  1. Bandit killed in Belvoir Court attack

  2. Man shot dead during alleged attempt to ambush car occupants

  3. DPP reopens Courtney Crum-Ewing murder case

  4. ‘It wasn’t me’

  5. US$ rate is $230 -manufacturers

  6. Entry refused to tuna shipment

  7. Businessman charged with murder-for-hire plot

  8. Pastor on trial over rape of six-year-old

  9. Who gave an American missionary permission to preach in Georgetown schools?


Recommended For You