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#BTEditorial - Celebrating the small and big wins - Barbados Today

Barbados’ last Central Bank governor Mr Cleviston Haynes said his  formal goodbyes on the weekend, ending more than four decades at the country’s lead financial institution.Not a man known for controversy, at his final departure he was his usual straightforward but equally diplomatic self, when he called on the country’s commercial banks to “do better”. He was at the time also lamenting the fact that he walks away from the Church Village, Bridgetown institution with “unfinished business”.There may be the suggestion by some that the former governor should have put more bite in his bark when he held the highest office at the Central Bank of Barbados which is the regulator of commercial banks.“Opening accounts is proving increasingly, and, I would suggest, unnecessarily difficult, often exceeding the expectations of the regulator which simply expects banks to use their discretion and document if necessary.“A very senior regional public servant recently recounted to me his experience to open an account because of the lack of a utility bill in his name. Surely, we can do better,” Haynes noted at the farewell event in his honour at Hilton Barbados.We do not hold this against former Governor Haynes, for he was taken up with many pressing issues including stabilising the very institution he headed following the upheaval caused by the circumstances of the exit of his predecessor, the impacts of a once-in-a-lifetime pandemic which disabled the economy, as well as the fear and expectations of Barbadians from an International Monetary Fund (IMF) programme.

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