contribution to national development – the cornerstones of this institution – forever live on. this publication is a useful reminder to our successors of these critical tenets that underpin the creation of an institution of excellence. 2 / 3 bis central bankers'speeches the late united states president theodore roosevelt once said : “ the more you know about the past, the better prepared you are for the future. “ this observation is a universal truth, and both sides of the coin helps us and future generations to understand the past forty - five years of the central bank of barbados : its work, its mission, its vision, its journey and its people, like many of you and me. that perspective is, in a nutshell, why we wrote this book. please enjoy the rest of the evening and get yourself a copy. i thank you. 3 / 3 bis central bankers'speeches

chronicling our first 45 years of existence between 1972 and 2017. i also thank your family for the many sacrifices they endured while you penned this history. you highlight that your wife, dolores, nudged, encouraged, and pushed you to cross the finishing line. dolores, we thank you for your support, and for sharing harold ’ s and the bank ’ s vision to publish this history. i thank the reviewers, commentators, critics, editors, and endorsers, and everyone who lent their time and talent to this publication. we remain forever in your debt. so, i pose the question again : why did we write this book? i have already shown how it showcases our contribution to national development. but it also chronicles our growth from infancy, to teenaged years, to adulthood into middle age. in the author ’ s words : the book tells of our establishment, consolidation, maturity, and modernization ; it reveals our purpose and mission, it educates and informs. by tracing our journey from the beginning, we are also preserving the institutional knowledge of the first generation of central bankers, many of whom are retired or about to retire. the experiences of this first generation and the information on our near fifty - year journey should inspire the next generation of central bankers. let me hasten to add that both sides of the coin is an unvarnished chronicle. the author captures our highs and lows, our achievements and failures, our weaknesses and strengths and our public spats and celebrations. from the robust and contentious parliamentary debate that preceded our formation, to the public sparring with labour, the dispute over the building of our home, to the untimely and unprecedented firing of our fourth governor, harold reveals it. i commend both sides of the coin to every barbadian who wishes to understand the role, mission, vision, and values of their central bank. as we approach our 50th birthday in 2022, we know that the changing economic and financial landscape at home and abroad will transform the face of central banking. this transformation includes the evolution of digital currencies, further liberalization of our exchange controls, strengthened regional integration, digital transformation, the emergence of new industries, local and international challenges, and different societal norms. the impact of environmental degradation on our people and their livelihoods and the reforms of economic and financial management will also influence what central banks do. change is inevitable even in central banking, but may the enduring principles of excellence, hard work, commitment, collaboration, and