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

300 12 These concerns were to prove entirely unwarranted. 13 The Report noted that, in addition to its main responsibilities, the Bank took the first steps towards the development of a money and capital market by its transactions in Treasury Bills and encouragement of inter-bank lending; further capital market development was cited as a priority for 1975. 14 It was during his 16-month stint in Ghana that Dr. Blackman and his wife Gloria became the parents of twin boys. 15 His PhD dissertation was entitled, Central Banking in a Dependent Economy: The Jamaican Experience, 1961-67 . 16 Dr. King would become the Bank’s second Governor in 1987. 17 The selection of Mr. Osborne started a convention by which the Government’s chief economic adviser has always been a member of the Bank’s Board. 18 During the formative years most Board meetings were held on Thursdays at 8:30 a.m. It seems that this timing was to accommodate the financial secretary who was free on Thursday mornings when the weekly Cabinet meeting was convened. A few meetings were held on Monday and there was even one on a Saturday. The meeting in February 1974 lasted from 3:00 p.m. to 7:00 p.m. but there were very few afternoon sessions. 19 Dr. King had obtained a PhD in Managerial Economics from Columbia University during 1972 and resigned from the board to accept an appointment as head of the Industry Division with the Caribbean Development Bank. Dr. Persaud served for six months before leaving for a senior position at the Commonwealth Secretariat in London. 20 It was noted in the Annual Report for 1974 (p.1) that during that year the Bank had assumed all the functions of a central bank. 21 Commenting on how well they got along, Dr. Blackman has noted that his birthday and that of U Tin Tun are two days apart. 22 This is the present site of the Lloyd Erskine Sandiford Conference Centre. 23 Mr. Springer would succeed Dr. King as Governor in 1992. 24 In 1975, Dr. Worrell received his PhD degree in Economics from McGill University. 25 DeLaRue later bought out Bradbury Wilkinson.