Government has gone to parliament to amend the act governing the Central Bank, saying its seeking to resolve a number of key governance issues at the institution and to safeguard its credibility.
Introducing the Central Bank of Barbados Bill, Minister in the Ministry of Finance, Ryan Straughn, listed a number of concerns about the way in which the Central Bank has operated under the previous administration, practices he says were dangerous and put the country at risk of a dollar devaluation.
A key change is to limit the governor to a six year tenure, with the possibility of reappointment. And if he’s to be removed the head of state has to give approval.
But opposition leader Bishop Joseph Atherly had concerns about that provision.