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(Barbados Today) Former Prime Minister Owen Arthur made a strong case today for Barbados to end its currency peg to the United States dollar.

In setting out his case before Parliament during the morning session on the second day of the debate on the 2017/2018 Estimates of Revenue and Expenditure, Arthur said other currencies should be considered to help stabilize the Barbados dollar, which the fired Central Bank Governor Dr DeLisle Worrell had warned was facing devaluation because of the continued printing of money to support Government programmes.

In fact, the former Prime Minister would have taken many by surprise when he dismissed any talk of devaluation as “false”, explaining that the Barbados dollars devalued often, whenever the US dollar moves down against other currencies.

“Our currency is pegged to the United States dollar that is not going down in value, but is going up in value and it is making Barbadian exports more expensive, not because we want them to be more expensive but because of how our currency is pegged.

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