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

29 During 1975 the department established conditions under which foreign funds invested in Barbados might be registered for later repatriation. Guidelines were also issued in relation to the exchange control policy on the transfer of real property. Research The Research Department dates from March 1973. Immediately following its establishment, the department's future direction was discussed by the Board and it was decided to organise its development in phases. Provision was made for an econometrician, research assistant, publications officer and two stenographers. The creation of the post of econometrician was later thought to be premature and two positions of economist were established instead. During its early years of operation the Research Department was very active. Data-gathering of commercial bank activity commenced, papers on financial sector issues were prepared and discussed and monthly bulletins with economic and financial data were compiled. The first quarterly reviews of the economy were published and the staff exchanged views with a visiting team from the IMF. The establishment of a library and chart room facilitated the department’s work. Chapter 2: The Early Years: 1972 - 1975 Three of the first heads of department. Left to right, Kenneth Brathwaite, Calvin Springer and DeLisle Worrell.