DeLisle Worrell: Introduction of new banknotes in Barbados
Address by Dr DeLisle Worrell, Governor of the Central Bank of Barbados, at the launch of
the new family of currency notes, Bridgetown, 2 May 2013.
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This is a very special occasion for the Central Bank and for Barbados. As I reminded
everyone in my first press conference after being appointed Governor, the enduring worth of
our currency is a source of national pride for all Barbadians. Understandably so, because
maintaining the value of the currency is what has distinguished between the more successful
small economies the world over, and those that have fallen behind in the race to improve
living standards. In the Caribbean the contrast is obvious, where small poorly endowed
islands, Barbados among them, have moved far ahead of their larger more richly endowed
neighbours. The Caribbean is not unique in this regard. Singapore is a country held in high
regard by many; the value of the Singapore currency is carefully managed by their monetary
authority, albeit with the use of a basket of currencies rather than the US dollar, as in our
case.
Today we preview the introduction of new currency notes, for the first time since the
Barbados currency was first introduced in 1973. The new notes are grounded in the past
stability of our money. The personalities featured on each value note remain the same, and
the general look of the note will be familiar. But Barbados has come a long way since 1973,
and we are now considered a developed country, as evidenced by our very high levels of
purchasing power, health and education, when compared with countries around the world.
As a symbol of our new status, we are now introducing notes that are as modern as the
latest technology can make them. These notes are our declaration of intent; we recognise
that, having reached this advanced level of human development, we must cross swords with
the best in the world and prevail, in order to maintain our forward momentum. That is why we
have spared no effort in making our new notes the best they can be: the design is appealing,
yet classy, the security features incorporate the most up-to-date technologies, and the notes
include special aids for the visually impaired.
Our mandate to our banknote printer, De La Rue, was to provide us with a secure,
userfriendly series, and we are happy that we have accomplished this. The new notes have a
contemporary layout and design that mirrors our status as a modern nation, but that at the
same time honours our history and our culture. We've added tactile marks for the blind so
that they will now be able to identify the different denominations without assistance. Our
thanks to the Barbados Association for the Blind and Deaf and the Barbados Council for the
Disabled for their help.
Finally, I invite you to visit our website or our Facebook page to learn more about the new
notes. We also have explanatory flyers and booklets available and we will be conducting
training sessions for businesses and interested individuals leading up to the issue of the first
of the new notes on June 4.
Thank you.