Central Bank of Barbados Governor to demit office month-end Loop Barbados

The content originally appeared on: News Americas Now

Black Immigrant Daily News

The content originally appeared on: Barbados News

Central Bank of Barbados Governor Cleviston Haynes announced he will be leaving his post at the end of January.

Haynes revealed the news during the Bank’s quarterly economic review and press conference.

“I have come to the end of my contract and I will demit office on January 31, 2023. My term as Governor has been challenging, as we navigated economic reforms, debt restructuring and COVID-19,” he stated.

“I trust that during my term as Governor that I have been able to provide the leadership which the public expects of this institution. . . . As I prepare to leave office, let me encourage all stakeholders to continue to work together for the betterment of our country,” the outgoing Governor added.

Haynes noted that Barbados has made “significant progress” in rebuilding the international reserves, restoring fiscal and debt sustainability and creating a platform for growth.

He stressed that as the country entered into a new programme with the International Monetary Fund (IMF), it was time to focus on growth, while “preserving fiscal discipline and maintaining adequate reserve buffers to protect our exchange rate”.

“As we make progress, we must be careful not to pick the fruit before it is ripe.

And, we must ensure that our financial system remains stable but capable of adapting to the needs of a modern Barbados with efficient, low cost services that enhance our overall competitiveness and contribute to strengthening our ability to compete on the global stage,” remarked the Central Bank Governor.