Central Bank of Barbados’ History Chronicled in New Book

A new book chronicles the history of Barbados’ leading financial regulator from its establishment to its 45th anniversary. It is “Both Sides of the Coin: The Story of the Central Bank of Barbados 1972-2017.”

The book, which was penned by former Deputy Governor Harold Codrington, offers an insider’s view of the triumphs and trials of the Central Bank, including the parliamentary debate around its establishment; the successful introduction of Barbados’ national currency; the controversy over the construction of its headquarters; and the 1991-1994 economic crisis, which resulted in the island entering into an International Monetary Fund (IMF) programme.

Speaking at the official launch, Central Bank Governor Cleviston Haynes explained the importance of the book:

“It captures not only our critical work in our core business but also how active we were in developing the arts, engaging in public outreach, and uplifting our communities. It reflects the recognition of our founding fathers that a central bank in a developing economy must support nation building.”

Former Governor Winston Cox in his endorsement described the book as “a balanced account of the Bank’s operations and development told by a careful inside observer who does not shy away from infelicitous moments or gloss over difficulties.”

In her message introducing the book, Prime Minister Mia Mottley said that the book gave her “a heightened appreciation of the role that the Central Bank has played in the economic development of Barbados,” before adding that “it should be required reading for all students of economics, and is a valuable resource for those in finance, banking and commerce.”

“Both Sides of the Coin: The Story of the Central Bank of Barbados 1972-2019” is available now in select bookstores.