It is those same choices that the US has been facing for all of Obama's tenure. In a crisis do you cut spending and lay off people or do you concentrate on finding a way to grow the pie bigger. The struggle between the both sides continues to today.This sucks for Bim! But I think the govt. are dead wrong and should never have given in to the IMF's pressure. How can you expect to pull yourself out of a bad fiscal situation by letting to 3,000 taxpayers??? It is madness.
Bim should instead have concentrating on growing its economy (and the world conditions are again good for doing this) and told the IMF to go suck on a lemon.
Too many governments in our region are ready and willing to listen to some dumb foreign agency, rather than just applying common sense to national experience. Huge job cuts have never done anything other than deepen recessions.
Anyway, either way Barbados will be back. They will never devalue their dollar and, so long as they remain fanatical on that point things will never sink beneath a certain level.
I really feel for those people in the news report from Barbados....some of them are the only bread winners in the family.