Governor Haynes Pays Tribute to the Right Honourable Owen Arthur

I wish to pay tribute, on behalf of the Board of Directors, Management, and staff of the Central Bank of Barbados, to the memory of our former Prime Minister, Professor the Right Honourable Owen Arthur.

An economist by training, Mr. Arthur had a long association with the Bank. Between 1983 and 1984, he served as a member of the Bank’s Board of Directors. His tenure was relatively short because of his successful transition to elective politics, but his erudite contributions to economic and Bank-related policy left a mark on our institution.

Mr. Arthur oversaw the operations of the Bank between 1994 and 2008, when he served as Minister of Finance. Again, he brought to bear his sharp intellect to matters of public policy. He was determined to overhaul the Barbados economy so that it “fired on all cylinders” and to create a thriving Caribbean Single Market and Economy (CSME), an initiative that he spearheaded with courage and conviction.

In recent weeks, it was fascinating to watch his passionate participation in the deliberations of the Prime Minister’s Jobs and Investment Council. His knowledge and experience were always at the centre of his interventions. He willingly shared his insights and was ever ready to engage in intellectual battles on matters such as Barbados’ future exchange rate strategy, the role of international reserves in stressful economic conditions, and approaches to creating an environment to revitalise the manufacturing sector. I sensed that he was enjoying his role as elder statesman.

He proved himself adept at politics, but foremost Barbados and the region have lost a scholar who applied his scholarship to improve the lives in our region. His legacy will live on. To his wife and children, I offer my deepest condolences.