Kevin Greenidge: Courage over circumstance - the extraordinary journey of a global financial leader
Text of the 18th Olive Trotman Memorial Lecture by Dr Kevin Greenidge, Governor of the Central Bank of Barbados, at the Barbados Public Workers' Co-operative Credit Union on your 55th anniversary, Bridgetown, 21 June 2025.
The views expressed in this speech are those of the speaker and not the view of the BIS.
1. Opening: The Power of Naming the Journey
Allow me to first offer my heartfelt congratulations to the Barbados Public Workers' Co-operative Credit Union on your 55th anniversary. This is no small feat. It is a legacy of resilience, vision, and service to people who, like me, started with very little, but dared to dream of more.
I consider it a privilege, and a profound honour, to stand before you this evening. And I do not take lightly the responsibility that comes with delivering the Olive Trotman Memorial Lecture. Sister Olive's name carries with it a quiet revolutionary spirit, a woman who saw dignity where others saw limits. A woman who acted not for recognition, but for transformation.
The theme of this evening, "Courage, Not Circumstance: The Extraordinary Journey of a Global Financial Leader", is deeply humbling. I never set out to be considered extraordinary. I simply wanted to solve problems, to make systems work better, to serve my country and region, and to honour the people and community who raised me.
Tonight, I want to share my journey. Not as a blueprint, but as an offering. Because every barrier I have broken was already cracked by someone like Olive Trotman. And every door I've walked through, someone else helped push open.
2. The Legacy of Olive Trotman
Many of you may already know some facts about Olive Trotman. She was a nurse. A trade unionist. A pioneer in the credit union movement. But these descriptions don't do her justice.
She wasn't only part of history. She helped make it.
Picture Barbados in the 1950s and 60s. Public servants were often living paycheque to paycheque. The financial system was exclusionary. Banks were formal, intimidating, and certainly not welcoming to women or the working class. Access to credit was a privilege of the few.
And here comes Olive, walking the halls of the hospital or government offices, with her brown valise in hand, quietly collecting deposits on behalf of the Civil Service Savings Society. She wasn't just offering a service. She was building trust. She was saying to her colleagues, "You matter. Your money matters. Your future matters."
As respected Professor the late Frank Alleyne pointed out, Barbados in the 1950s was still entrenched in a plantation economy. Wages were low, formal credit was out of reach for working people, and traditional financial institutions catered to a privileged few.
That one-woman operation became the foundation for what we now know as the Barbados Public Workers' Co-operative Credit Union, one of the most successful credit unions in the Caribbean.
But Olive Trotman didn't have a background in finance. She didn't hold a powerful office. What she had was a deep sense of responsibility and the courage to act.
What Olive Trotman understood before policy-makers caught on, was that financial inclusion is not simply about access. It's about dignity. It's about ensuring people have the means to build, to dream, and to withstand hardship.
In today's language, we might say she was de-risking households, strengthening social capital, and building economic resilience from the ground up. She was doing what we in central banking now champion, placing people at the heart of finance.
So, when I speak of my own journey, I do so in the shadow, and the light, of hers.
3. From Children's Home to University: My Foundation
My journey didn't begin with privilege or certainty. I was raised in Black Rock, spending part of my early life in a children's home. I understand what it means to begin from a place of uncertainty-to feel the quiet weight of starting behind while others seem to race ahead.
But here is what I discovered: there is a God-given power in each of us. A power that gives us courage. A power that allows us, even in the presence of fear or disadvantage, to move forward.
Let me draw an image for you.
Imagine courage as a car, one that carries you through the journey of life, even when you cannot see the entire road ahead. Like any car, it needs an engine. And God has already birthed that engine within you. It is a divine power that lives inside each of us. For God has not given us a spirit of fear, but a spirit of power. And just as a car needs wheels to transfer that internal power into forward motion-pushing past the friction and resistance of the road-you too need wheels to carry you through the challenges you will face.
For me, those four wheels are:
- A clear vision or goal-you must know where you are going
- A deep becoming-a belief that you can do it, that it is already yours
- Consistent and diligent work-whatever your hands find to do, do it well
- And love and compassion-you must carry others with you on the journey
These are the wheels that helped me move forward. They did not remove the obstacles. But they helped me rise above them. I want you to keep this imagery in mind as I take you through pivotal moments in my life's journey.
I attended The Alleyne School. And to be honest, I was not a top student. By the end of Fifth Form, I had not been entered for any CXC exams and was on track to leave with no certificates. But even then, the first wheel-vision-began to turn. The easy path would have been to accept defeat, to let circumstance write my story. Instead, I decided I wanted to go to Sixth Form at Harrison College. That would require at least seven passes. So, I took a deep breath, walked into my principal's office, and asked for a second chance. And he gave it to me.
That second chance demanded everything I had. I had to complete in one year what others had done in two or three. I studied late into the night, sometimes by candlelight. I cut out distractions. I focused. That was the third wheel-diligent work-in full motion. But none of that would have been possible without the second wheel-belief. I had to believe I could succeed, even before the results came in. I sat eight CXCs and passed all with distinction.
That moment was a turning point. It confirmed that with vision, belief, and work, you can change the trajectory of your life.
I went on to Harrison College for Sixth Form, and then to the University of the West Indies at Cave Hill to study Management. And during my first year, a moment came that would permanently shape my direction.
I was visiting a church, and during the service, a visiting preacher from the USA-someone who had never met me-called me up forward during service. He told me I would one day be a leader in this country. That I would teach people about economics, about the principle of the mustard seed, about saving, investing, and stewardship.
Whether or not it was truly prophetic does not matter. I chose to believe it. I made it mine. That word became my guiding vision. But belief without action is merely wishful thinking; you must become what you believe – that's the second wheel in action – you must become. I immediately changed my degree to Economics. I walked into the Central Bank and asked the Director of Economics, Dr. Boamah, what it would take for them to hire me. His answer was daunting: "We take only one person per year, and only with First Class Honours."
My response? "Hold a spot for me. I'll be back in two years."
Remember the third wheel is hard work. Not just effort-strategic, relentless, excellence-driven work.
I discovered I needed 11 As to achieve First Class Honours. I didn't settle for 11. I earned twenty. Twenty A's. Those grades weren't the result of luck or natural ability alone. They were the outcome of discipline married to direction, of late nights and early mornings, of saying no to distractions and yes to dedication. I worked deliberately. I stayed focused. But I also leaned on the divine engine within me-the power of faith and purpose. That power pushed me up hills and through obstacles. And what kept the wheels turning were those three essentials: vision, belief, and hard work.
4. The Wheels on New Roads: From Local to Global Leadership
In 1995, I joined the Central Bank of Barbados. That vision I had carried for years was now reality. But this was not the end of the journey. It was a new road, with new terrain to navigate.
Over the next 17 years, I worked my way through the Bank, from Research Officer, Economist, Senior Economist, Chief, and eventually Director of Economics and Research. But here's what many don't understand: I wasn't climbing for titles. I was building capability. Each position was another mile on the road to something greater.
The first wheel-vision-was with me every step. I would often go to the tenth floor of the Bank for meetings in the Governor's office. And during those visits, something would stir in me. I began to see myself in that role. I would quietly say to myself, "I will be Governor someday."
That's how extraordinary vision works. It begins as a whisper. If you give it space to grow, it becomes part of your DNA. It transforms how you work, how you prepare, how you show up every single day.
The second wheel-belief-was what gave me strength to grow toward that vision. I did not wait for permission to act like a leader. I committed to becoming one. I believed I had something to contribute. I believed the role was possible for someone like me.
And so I worked.
I earned a master's degree. I completed a doctorate. I published over two hundred academic papers. I took on difficult projects and delivered. I pushed myself beyond expectations. That was the third wheel-diligent, consistent work-doing whatever my hands found to do with excellence.
But another wheel began to grow in importance too-love and compassion. I began mentoring younger staff. I shared what I had learned. I tried to lift others as I climbed, because no journey is truly meaningful if you walk it alone.
After 17 years at the Bank, I knew it was time to grow in a new way. I needed international experience to become the leader I was meant to be. I set my sights on the International Monetary Fund.
And again, the same process unfolded. I had a new vision unfold- I would spend nights imagining what it would feel like to work there, walking those corridors, attending high-level briefings, contributing to global economic dialogue. I meditated on it until it became real within me. And I worked diligently until the door opened.
In 2011, I joined the IMF as a Senior Economist. At the IMF, I worked on macroeconomic and structural reforms across Africa, Latin America, and the Caribbean. I contributed to major policy reviews on macro-financial surveillance, growth and governance, and the resilience of small states. But what made me effective wasn't just technical training-it was my grounding in the realities of small island economies, combined with global insights about resilience, reform, and inclusive growth. I also got to understand the importance of buffers, of confidence, and of clear communication.
This is the power of a purpose-driven journey: each experience including, setbacks, builds upon the last, creating a vehicle capable of handling increasingly complex terrain.
5. Returning Home: The Ultimate Test of Global Leadership
In 2018, Barbados was facing a serious economic crisis. I was asked to return home. And I did-not for position, but for service. Because extraordinary leaders understand that true success is measured not by how far you travel from home, but by how much you can contribute when you return.
Together with an exceptional team, we designed the Barbados Economic Recovery and Transformation programme-BERT. This wasn't just technical policy; it was a national call to action requiring the courage to make difficult decisions on debt restructuring, on fiscal prudence, on governance reform. It required the hard work to negotiate with international partners, and the vision to protect what mattered most: pensions, wages, education, and social spending.
As a member of the negotiating team, I led engagements for the IMF, credit rating agencies, other international partners. I was part of every major policy decision, but I never forgot who those decisions affected: the vendor in the market, the teacher in the classroom, the retiree managing monthly expenses, credit union members like you.
BERT 2018 stabilised our economy. BERT 2022 achieved growth, embedded resilience and social protection. BERT 2025 focuses on transformation-deepening productivity, digitization, innovation, climate readiness, and human capital investment.
What I have learned through all of this is simple but profound: A vision or goal is not just about what you want. It is about what you are willing to become. You must see it. Speak it. Live it. Then work with clarity, with discipline, and with consistency until the world reflects what you already believe. Every step of that journey was powered by the divine engine within-and carried forward by the same four wheels: vision, belief, hard work, and love.
6. The Daily Discipline of Extraordinary Leadership
Now, as Governor, I want to share something personal about maintaining this four-wheel vehicle of leadership. Every morning before I get out of bed, I do my affirmations. I reflect on how blessed I am and give thanks. Then I affirm who I am and who I'm becoming. I then reflect on my goals for the day, the week and I see them being accomplished.
This isn't motivational theory-this is operational reality. Having a positive mindset isn't about ignoring reality. It's about choosing your response. It's about seeing challenges as opportunities and believing in the power of change.
Nothing sustainable in life comes without hard work. A former central bank governor once reminded me how I burned the midnight oil to complete assignments. I'm intentional; some might even say intense. Malcolm Gladwell's 10,000-Hour Rule in Outliers supports this idea: mastery takes time and practice. Even the Bible teaches us: "Whatever you do, work at it with all your heart."
7. Building Roads for Others: The Legacy of True Leadership
But success isn't just about the destination you reach-it's about the roads you build for others to follow. I founded the Kevin Greenidge Charitable Trust, providing opportunities and encouraging positive lifestyles for disadvantaged Barbadian youth through educational scholarships, counselling, mentorship, and financial support.
This is the ultimate measure of extraordinary leadership: not just what you achieve for yourself, but what you build for others. Whether through volunteering, mentoring, or simply encouraging others, we create ripple effects of growth, positivity, and possibility.
Your Journey Begins Now
To everyone beginning their own extraordinary journey, or like many of you continuing that journey remember this: courage over circumstance isn't just a philosophy-it's a daily practice.
Life will present you with challenges that seem insurmountable. You might start in a children's home, fail your first attempt at examinations, or face rejection from your dreams. These aren't disqualifications-they're qualifications for extraordinary leadership. They don't define you; they prepare you. I'm sure the lady we honour tonight, would have shared similar experiences back in the day- but like me to have accomplished what she did Olive lived a life of courage over circumstance.
So, build your four-wheel vehicle of courage:
- A clear vision or goal-you must know where you are going
- A deep becoming-a belief that you can do it, that it is already yours
- Consistent and diligent work-whatever your hands find to do, do it well
- And love and compassion-you must carry others with you on the journey
Like I did years ago at Alleyne, Harrison College, and university, you can face challenges head-on. Embrace every learning opportunity. Build strong networks. Seek help when needed. Stay focused and resilient.
It won't always be easy. The road to global leadership never is. But with courage over circumstance, with your four-wheel vehicle of character, and with unwavering commitment to excellence, greatness isn't just within your reach-it's your destiny.
The journey from children's home to global leadership isn't just possible-it's inevitable for those brave enough to build the right vehicle and disciplined enough to stay the course.
Your extraordinary journey begins with a single decision: Will you let circumstances define you, or will you define your circumstances?
8. Leadership Rooted in People
Leadership, especially in economic and financial spaces, is often imagined as technical. And yes, there is a technical aspect to it. But at its core, it's moral, its people. Because every decision we make about maintaining the currency peg, ensuring we have enough foreign reserves, or regulating the financial services sector affects the lives of real people.
This is another way in which Olive's example lives on. She reminds us that financial systems must serve people and not the other way around.
She also reminds us that inclusion cannot be passive. It must be intentional.
This is why the credit union movement still matters so much today. Because while the world is racing toward digital banking and financial technology, and we wholeheartedly welcome those innovations, we must not lose sight of the foundational values: access, transparency, fairness.
The credit union was never just about money. It was about the power of people to come together, pool resources, and take control of their financial future. That principle is as revolutionary now as it was then.
As Governor, I've made it a personal mission to ensure that policy is not something done to people, but with them. When we review interest rates or inflation targets, we're not just crunching numbers. We're assessing whether a mother can afford groceries, whether a young man can get a loan to start a business, whether a teacher can save for her children's education.
Policy must be people-first.
When I returned home to take up the post of Governor, I was clear about one thing: policy is only as good as its impact on people.
At the Central Bank, we don't just look at numbers. We look beyond the numbers. We ask: do people understand how the economy functions? Are people saving, investing, and building wealth? How easy is it for Barbadians to navigate the banking system or make a payment?
That people-centred approach has shaped everything we've done since I took office.
We've made it a priority to improve how we communicate with the public. We launched our "Explainers" video series. We broke down policy in plain language, because people deserve to understand how interest rates, inflation, and foreign reserves affect their daily lives. Financial stability must be lived, not just reported.
We launched the Market Conduct Guidelines to hold financial institutions accountable for fair and transparent practices. This was not just a regulatory step. It was a moral one. Because how people are treated by their banks and insurance companies matters. Trust in the financial system begins with fairness.
We also prepared to take a bold step forward with the launch of BimPay, our national instant payments system. It is set to go live in 2026, offering 24/7,365 fast, efficient, secure digital payments to all. We will onboard your credit union and two other credit unions and other financial institutions to ensure that this platform is not just available, but accessible. This is financial inclusion in real time. This is the future of everyday money. And we are not stopping there. We have integrated financial literacy into our work. We have hosted economic forums in schools and community spaces. We are using social media not to entertain, but to educate. Because knowledge is power, but shared knowledge is empowerment.
Internally, I have insisted that we model the excellence we speak of. We are streamlining operations, modernising our IT infrastructure, and investing in our people. Leadership is not about pushing change onto others. It is about embodying the change yourself. That is the tone we are setting. And while we are focused on financial and economic reform, we are also thinking beyond the numbers. We are leading conversations on climate resilience, on economic transformation, and on the kind of future we want for Barbados.
Because I believe central banking should not sit on a hill above the people. It should walk alongside them. It should listen. It should lead with compassion and courage. That's a principle Olive Trotman lived by. And it's one I try to live by too even from a different office, in a different time.
9. The Power of Resilience and Vision
Leadership, especially in turbulent or uncertain times like those we live in today, demands resilience. There were moments in my career when it would have been easy to question the path. But each time, I reminded myself of my purpose and returned to the vision that first carried me forward.
When you commit to a vision and ground yourself in something larger than the moment, it becomes easier to navigate the hard days. I returned to my affirmations and meditation. I reminded myself who I am and that clarity of purpose must precede influence. And I remembered all the people, especially the young ones, who might look at my story and find their own spark of hope.
That's why I share my journey; not to boast, but to offer a mirror for others. Especially our youth. I want them to see that someone who came from humble beginnings can rise and lead. That circumstances don't define you, they prepare you.
And for those that have arrived at positions of leadership. I want to remind them that leadership is not about performing for applause. It's about being aligned. About ensuring that your choices, your tone, your energy reflect who you say you are. That is integrity, not performance, but congruence.
10. Message to the Next Generation: Vision, Belief, and Legacy
To the young people here tonight, and to those navigating their way through uncertainty, remember this: your beginning or circumstances does not define your becoming.
Greatness is not inherited. It is forged. Through vision. Through belief. Through disciplined action. From time to time, you may find yourself wondering if those big dreams you carry will ever become reality. I want you to know they can. And if you choose to believe in your potential and take one deliberate step forward each day, they will.
Start with what you have. Write down your goals. Build your mindset. Affirm your value. Then act. Daily. Consistently. With heart. It will not always be easy. But each decision you make now, every book you read, every time you rise after a setback, that is how you shape your future. That is how you honour those who came before and prepare the way for those who come after. That is courage!
Press forward. Be disciplined. Be daring. Be determined. Believe in your purpose, even before others recognize it. And when you rise, and you will, reach back. Mentor. Encourage. Create opportunities. Share your lessons. That is how we multiply success. That is how we build legacy.
11. The Legacy of Olive Trotman: A Vehicle Built for Others
But as we talk about building our own extraordinary vehicles, we must remember those who engineered the very roads we travel today. We must continue to honour Olive Trotman-a woman who understood that true leadership isn't about the vehicle you build for yourself, but about the infrastructure you create for others.
Courage is not something you are born with. It is something you choose.
Olive Trotman chose courage, not once, but every single day. She chose it when she walked into government offices with her brown valise-her own carefully engineered toolkit for change. She chose it when she dared to believe that working people deserved dignity, access, and financial stability. She chose it when she created something that outlived her-institutions that continue to serve as vehicles of empowerment for generations.
Think about what Olive understood: the most powerful vehicle you can build is one that carries others forward long after you've completed your own journey.
And I have tried to choose courage too. I chose it when I asked for a second chance at Alleyne-when my academic vehicle seemed to have broken down before it even started. I chose it when I pursued a vision of global leadership long before it made sense to anyone else-when I was still tuning the engine of my ambition. I chose it when I left the comfort of international corridors to return home and serve during a time of national crisis-when our country's economic vehicle needed emergency repair. I chose it every time I decided to live aligned with the truth I carry-that leadership is about service, not status.
The Quiet Courage of Daily Discipline
I want to leave you with this profound understanding: courage does not always look like bold speeches or grand gestures. Sometimes it looks like the mechanic's daily discipline-getting up early to study when others sleep. Sometimes it looks like the humility to ask for help when your vehicle breaks down. Sometimes it looks like saying no to shortcuts that might get you there faster but compromise your integrity. And sometimes it looks like speaking up at the board meeting, even when your voice is shaking and you're the youngest person in the room.
But courage, like the engine of any extraordinary vehicle, is always about one thing: moving forward when it would be easier to stand still.
Every morning when you start your engine, when you grip the steering wheel of your life, remember that you're not just driving for yourself. You're creating tire tracks that others will follow. You're testing roads that will become highways for future generations.
Building Roads That Last: The Ultimate Leadership Legacy
Let us honour Olive not just with words, but with the way we engineer our own vehicles of leadership. Let us honour her with the way we lead-ensuring our four wheels of courage, discipline, hard work, and vision are perfectly aligned. Let us honour her with the way we serve-using our vehicle not just to reach our own destinations, but to build better roads for others. That's what Public Workers, Cooperative Credit Union has done for the past 55 years and must continue to do.
Your four-wheel vehicle of courage, discipline, hard work, and vision isn't just meant to carry you from children's home to global leadership-though it will. It's meant to prove that such journeys are possible. It's meant to inspire others to build their own extraordinary vehicles. It's meant to demonstrate that courage over circumstance isn't just a personal philosophy-it's a blueprint for transforming communities, nations, and the world.