Renowned economist Jeremy Stephen has called on the private sector to abandon its risk-averse mindset and embrace bolder investments, emphasizing that over-reliance on government spending is hampering economic growth and perpetuating unsustainable public debt levels. Speaking in response to the Latin American Economic Outlook 2025 report by the Organisation for Economic Co-operation and Development (OECD), Stephen highlighted the urgent need for governments to prioritize mobilizing private investment and move away from ineffective tax incentives. He stressed that innovative financing mechanisms, such as green bonds, could play a pivotal role in attracting both local and foreign investors. Stephen argued that excessive dependence on government initiatives fosters complacency, stifling the economy’s potential. He pointed to Barbados’ weak private sector participation as a key factor behind its unsustainable debt, urging businesses to take calculated risks despite the challenging environment. The OECD report underscores Barbados’ heavy reliance on tourism, which leaves the economy vulnerable to external shocks and limits inclusive growth. It advocates for diversification into sectors like creative industries, renewable energy, and digital services to build resilience. Stephen also criticized the lack of private initiatives in exploring new tourism markets, citing the absence of self-funded roadshows to regions like China and the Middle East. He emphasized the need for a stronger enabling environment to encourage risk-taking and innovation. The report recommends a comprehensive strategy to mobilize private investment, reduce government dependency, and improve fiscal space. Stephen concluded that redefining the public-private partnership model is essential for reducing Barbados’ debt and securing sustainable growth.
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Fear, Hate, Anger: A toxic mixture
The adversarial nature of contemporary Western politics starkly contrasts with the ancient traditions of communal dialogue and consensus-building. In African villages, disputes were resolved not through divisive debates but within a circle, where a talking stick facilitated respectful listening and dialogue. This process aimed at uncovering the best solutions for the community, devoid of the winner-loser dichotomy that plagues modern politics. Today, our political landscape thrives on fear, hatred, and anger—elements that, while effective in mobilizing people, are equally destructive to societal cohesion. Political parties, in essence, have become modern tribes, perpetuating division under the guise of governance. The recent opposition to the Age of Civil Responsibility Bill (ACR) exemplifies this toxic dynamic. Critics have resorted to emotional outbursts, alarmist rhetoric, and nativist appeals, portraying the government as deceitful and inciting public panic. This strategy, rooted in the primal fear response governed by the amygdala, exploits our instinctual reactions rather than fostering rational discourse. The ACR Bill, designed to address the adolescent reproductive health crisis across the Caribbean, transcends partisan politics. It is a pressing issue that demands collective action, yet the political arena remains mired in bickering and opportunism. This erosion of moral guidance in national discourse has dire consequences, particularly for the welfare of young people. As Tonia Frame, President of the Grenada Planned Parenthood Association (GPPA), and Fred Nunes, Consultant at Advocates for Safe Parenthood: Improving Reproductive Equity (ASPIRE), emphasize, the loss of this moral compass has led us down a path of self-destruction. The time has come to reclaim the principles of unity and dialogue, prioritizing the well-being of our communities over political gain.








