Standard and Poor’s (S&P) downgrades Barbados’ long term/short term sovereign credit ratings

Standard and Poor’s (S&P) has downgraded Barbados’ long term/short term sovereign credit ratings to CCC+/C from B-/B based on its heavy dependence on Central Bank financing and dwindling foreign exchange reserves.

The Prime Minister (Freundel Stuart) argues that this downgrade does not even matter. The downgrade will result in “…people who might be inclined to lend you will make the money they want to lend you more expensive…But we are not looking to borrow, we’re looking to earn foreign exchange, not to borrow”.

Link: https://www.barbadostoday.bb/2017/03/05/pm-stuart-barbados-cannot-be-downgraded/
Link: https://www.barbadostoday.bb/2017/03/03/another-s-p-downgrade/

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The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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