Government is taking significant steps to ensure that the Central Bank of Barbados continues to operate as efficiently as possible.
Word of this from Finance Minister Chris Sinckler who says in a matter of weeks, government will have ready a new Central Bank Act, which is expected to see sweeping changes to the current structure of that financial institution.
The announcement came during the Bank's forty fifth anniversary celebration at the St Michael's Cathedral.
While lauding the Bank for its contribution to the stability of the island's economy, he says the time has come for much needed improvements.
Also speaking at the Bank's anniversary service was reverend Dr. Jeffrey D Gibson who spoke about the economic problems facing the country.
While acknowledging the need for a swift response to the challenges, he advised that any steps taken should first address issues confronting the poor and vulnerable in society.