2019: A look Back (Part Four)

Throughout 2019, the Central Bank of Barbados was involved in a number of initiatives and activities both related to its core business of promoting economic, monetary, and financial stability; and more broadly to supporting and promoting the arts, education, and culture.

This article, the final in a four-part series, looks back at some of the Bank’s activities and initiatives over the past 12 months. Read parts one, two, and three.

New Deputy Governor Appointed

On October 1, the Central Bank of Barbados welcomed a new Deputy Governor, Alwyn Jordan.

Jordan, who previously worked at the Bank as economist, re-joined the organisation after a 14-year stint at the Central Bank of the Bahamas, where he served first as a senior economist and then as Manager of its Research Department.

Sir Winston Scott Memorial Lecture

Climate change was the focus of the 2019 Sir Winston Scott Memorial Lecture. Giza Gaspar Martins, former Chair of the Least Developed Countries (LDC) group, delivered the 44th iteration of the annual lecture, which is held in honour of Barbados’ first native Governor General and in celebration of the island’s independence.

Speaking on the topic “Human Life is Not Negotiable: Why We Must Act Now on Climate Change”, Martins, who helped negotiate the 2015 Paris Agreement on Climate Change, noted that while small island developing states (SIDS) and lower income countries did not create the crisis, they are among the most severely impacted.

During an extended question and answer segment, he acknowledged that countries like Barbados cannot solve the climate crisis, but urged everyone to play their part, even when doing so entailed sacrifice.

The 44th Sir Winston Scott Memorial Lecture will be posted on the Central Bank’s website and social media channels in January 2020.

Launch of “Both Sides of the Coin”

In December, the Central Bank launched a book chronicling the first 45 years of its existence. The book, titled “Both Sides of the Coin: The Story of the Central Bank of Barbados”, was written by former Deputy Governor Harold Codrington.

Codrington, who spent more than three decades at the Bank, offered a “warts and all" look at the island’s main financial regulator, capturing, according to Prime Minister Mia Mottley, “the high and low points with unvarnished clarity.”

Speaking at a reception to launch the book, Central Bank Governor Cleviston Haynes said the book provides “a compelling humanistic story of how the Bank has evolved over more than four decades and how the Bank’s employees have contributed to the economic, social, and financial fabric of Barbados.”

“Both Sides of the Coin: The Story of the Central Bank of Barbados” is available now at select bookstores.