Wednesday, August 10, 2022

Barbados Bracing For Impact From Ukraine Unrest

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Government is already seeking to put measures in place to cushion any likely fallout from the war that has broken out in the Ukraine with Russia.

Prime Minister Mia Amor Mottley, outlined that the situation between the Ukraine and Russia could have implications for the cost of fuel and food, the supply of food and result in disruptions in the supply chain globally.

However, she noted that Barbados’ reserves stood at over $3 billion, representing about 37 weeks of import cover, giving the country the ability to have adequate buffer to deal with the capacity to manage any increased prices.

Fielding questions related to the unrest during a live COVID-19 Update and press conference, Ms. Mottley assured Barbadians that the situation was being monitored for some time, and meetings with the private sector had already taken place since last year.

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In addition, she noted that efforts were being undertaken by the Ministry of Agriculture, Food and Nutritional Security to boost food production in the country to ensure Barbados was in a better position to feed its citizens.

Ms. Mottley added that during her recent trip to Guyana, discussions were held about the urgent importance of having the Barbados/Guyana Food Terminal established.

She further noted that a recent Council for Trade and Economic Development (COTED) meeting also examined plans that would allow Barbados to produce 25 per cent of food that was currently being imported by 2025.

“The urgency of the moment with the Ukraine crisis is undoubtedly there. But we have been preparing for some time for this unstable world, which has led to increases in food prices…,” Ms. Mottley said.

The Prime Minister also disclosed that she would address the public in another two weeks on how Government intends to help contain cost of living issues, particularly as it relates to food. “It is not the worst news, but we are prepared to do what has to be done at the macro level and also with respect to cost of living for households as we go forward,” the Prime Minister assured.

Source: Barbados Government Information Service

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Editorial Staff
Editorial Staff
Our Editorial Staff at St. Lucia Times is a team publishing news and other articles to over 200,000 regular monthly readers in Saint Lucia and in over 150 other countries worldwide.

10 COMMENTS

  1. Well done Barbados you actuall have a reserve in excess of 3 billion while St Lucia has a debt of 8 Billion due to the recklessness of the borrowing and spending habits of the Yellow Clown PM, now we are at mercy…yet you still have idiots still asking what is the PM going to do, jackasses see about yourselves. You have a dry goods set a side for a rainy day tin mackerel, rice, sugar sardine, tuna fish, cooking oil, extra matches ,all the crap that’s not good but it will sustain you ? Petty cash in the cookie jar ? couple cases of water and toilet paper ?? The water tank full ? You buy a bag of coal yet ? What about a coal pot and kerosene home sweet home lamp ? a good flashlight which is always good to have in the house anyway. Go and buy dry saltfish and put it down what was old time you will be surprise how quickly it becomes new again…..I still have my fathers old Realistic short wave radio and it works.

  2. mean while massy stores waiting to see how they can blame the war on further inflation to raise the prices on us AGAIN

  3. This is what I wanted to hear from pip. Assurance!!!
    She is what you call a leader not this weakling. I can’t take it no more!!!
    # pipmustgo

  4. Our treasury and other resources are sucked dried. We know it. The fact is what is in our reserves, is what the previous government left us. Let’s hope it can last us a month.

  5. You will feel it for sure in two weeks time; in one month from now, riot all over. A hungry man is an angry man; but there’s time for a miracle:- find a good Church where the Word is preached, and begin to encourage people to pray, with conviction.

  6. Putin is no fool all the sanctions globally do not have no effect on Russia from the cold war and even NK people are still surviving because you know why they have a booming agriculture resource… we have Zero in lucia .. pussy government both ways

  7. And our own PM have not address us professionally on what to expect and how this will affect us. Tomorrow the next fuel adjustment will be out. Will there will be an increase to cooking gas? Barbados has address its people and has told them about their reserve and will cover up to 37 week for them. Pierre, where do we stand? Good leadership is lacking from you. We need to know. This is serous.

  8. yea, J piere what will you do about the cost of food lack or shortage of food? blame the UWP ? Hilarious and company out in dubai having fun and then turning around when it’s to do with things of importance and claim the reserves empty empty empty. Stay tuned

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