Both Sides of The Coin: The Story of The Central Bank of Barbados 1972-2017

Chapter 5: Some Notable Developments 173 comments and articles in the daily newspapers that were highly critical of the governor. One columnist was particularly harsh on Governor Blackman. The writer’s contribution, which was headed “Exercise in self-exposure”, inferred that Blackman had done serious damage to the Bank’s image since he (the governor) “was content to use his mere voice to bring down the walls of the Central Bank.” He also wrote that the remarks represented “the demolition of the country’s economic temple”. Another commentator accused the governor of “pandering to the minister” and declared, that the governor’s reply left no doubt that a class war (between the haves and the have-nots) still existed. As Blackman subsequently explained it, he had tried to “... communicate an elementary and universally-accepted principle of public administration, namely, that an officer does not express public disapproval of the minister at whose pleasure he serves on matters of policy unless he is prepared to resign over the issue.” He also admitted that he had learnt a lesson in communications the hard way. PUBLIC SUPPORT IN THE MIDST OF CONTROVERSY With respect to the call-in programme, one writer came to the Bank’s defence. He commented that, “We cannot allow Dr Blackman’s slips of the tongue to destroy our faith in the Central Bank which has served the country well over the past ten years.” He supported the governor's reasoning on the call-in programme, but urged him to stay away from the media unless it was unavoidable. Public comments at the time of the 10th Anniversary were also a clear indication that the Bank was still held in high regard. In his address Prime Minister Adams said that the Bank was “considered as the leading authority on financial matters in this country. It has made this administration the best informed of any developing country and the envy of many.” He went on to outline its contribution as adviser and banker to Government, its role in financing sugar and manufacturing, its special schemes and its contribution to the off-shore sector and culture.