Central Bank of Barbados Governor Cleviston Haynes to Demit Office on January 31

Author(s): Central Bank Of Barbados

Created 25 Jan, 2023
Categories General Press Release
Views: 4621

Governor Cleviston Haynes announced his departure from the Central Bank of Barbados during the Bank’s quarterly economic review and press conference. Read his statement below.

Over the past four and a half years, Barbados has made significant progress in restoring fiscal and debt sustainability, rebuilding our international reserves and creating a platform for a resumption of growth.

As we enter a new programme with the IMF, we now need to focus on the growth element while preserving fiscal discipline and maintaining adequate reserve buffers to protect our exchange rate.

I am satisfied that this is within our capability if we stay focused, make the investments in our people and infrastructure.

We, in the public and private sectors, will need to be courageous and innovative and adapt our systems to embrace technology and ensure that our people have the skillsets to prosper in the new world.

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.

As to myself, let me share with you that 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. Working with all stakeholders, the country has made the progress I cited earlier and we can all be proud of our achievements thus far.

I trust that during my term as Governor that I have been able to provide the leadership which the public expects of this institution.

Finally, to the media, let me say that I value the relationships that we have been able to build over the years.

As I prepare to leave office, let me encourage all stakeholders to continue to work together for the betterment of our country.

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