Former Prime Minister Owen Arthur

THE GOVERNMENT OF BARBADOS is facing an “economic checkmate” and has run out of options, says former Prime Minister Owen Arthur.

And the now Independent Member of Parliament is calling for embattled Governor of the Central Bank, Dr DeLisle Worrell, to state whether the International Monetary Fund (IMF) has been approached to assist the country with an austerity programme.

Without going as far as saying the country should seek an exchange rate adjustment (devaluation) from the IMF, Arthur said Government could not be blind about the situation it faces.

“They know what they have to do,” he told the SUNDAY SUN yesterday.

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“Dr Worrell should now tell the country if there has been an approach made by the Central Bank to the International Monetary Fund.”

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