Barbados

Barbadian Minister of Finance Fired the Central Bank Governor

Central Bank Governor Dr DeLisle Worrell and Minister of Finance Chris Sinckler
Barbadian Minister of Finance Fired the Central Bank Governor

After receiving the all clear from the Court of Appeal yesterday, Minister of Finance Chris Sinckler has made good on his threats to fire Central Bank Governor Dr DeLisle Worrell.

Worrell’s attorney Gregory Nicholls confirmed to Barbados TODAY this morning that his client had been given his walking papers, less than 24 hours after the Court of Appeal threw out Worrell’s injunction blocking his dismissal from the top post.

However, Nicholls has warned that the matter is far from over since Worrell intends to challenge the minister’s right to dismiss him, all the way to the Trinidad-based Caribbean Court of Justice, which is this island’s final court of appeal, if necessary.

The 72-year-old Worrell has been serving in the post for nearly eight years now, following his appointment to the post back in 2009.

At this hour the six-member Central Bank board is meeting to consider a suitable replacement for Worrell, with Central Bank sources indicating that an appointment is likely to made later today.

The developments come amid serious concerns about this island’s economic stability.

In recent months, the outgoing Governor and the Minister of Finance have been at odds over the printing of money and the need for more fiscal restructuring.

Internally, the embattled Worrell was also faced challenges of excessive spending and in relation to his general administration of the bank.

He is expected to issue a press statement by weekend.

Source/Barbados Today
CF/IC

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