S&P lauds Barbados’ post-COVID economic performance: CARICOM BUSINESS
International ratings agency Standard & Poor’s (S&P) has maintained its long and short-term credit ratings of B-/B with a stable outlook for the Barbados economy.
“The stable outlook reflects our view that the COVID-19 pandemic will have a significant impact on Barbados’ economy and that the recovery will be more subdued than anticipated,” S&P said.
The ratings agency pointed out that while the impact of the pandemic would worsen fiscal and external balances, the debt restructuring completed last year and financing from multilateral institutions would help to limit Barbados’ near-term payment risks.
It pointed out that policy based funding and international reserve levels would sustain external liquidity despite a higher current account deficit expected in 2020. The agency said: “A delayed economic recovery will result in increased fiscal pressures during the outlook horizon. The country will face rising expenditures due to health-related spending in the face of lower tourism receipts.” (BT)
Extract from CARICOM BUSINESS Vol 3 No 45
Click on the Image or Link below to read the full Newsletter:
You may also be interested in:
End of Year Message from the Secretary-General of the Caribbean Community (CARICOM) Dr Carla N Barnett
We have come to the end of another year during which strenuous efforts have been made to ensure that the integration process improves the lives of the people of the Caribbean C
End of Year Message from the Secretary-General of the Caribbean Community (CARICOM) Dr Carla N Barnett
We have come to the end of another year during which strenuous efforts have been made to ensure that the integration process improves the lives of the people of the Caribbean C
CSME, food security, climate finance top agenda of CARICOM Summit in The Bahamas
The CARICOM Single Market and Economy (CSME); food security; climate change and climate finance; health; and security will be among the major topics when Heads of Government ofRelated Stories
IMF: Barbados recovery underway: CARICOM Business
Barbados has met all quantitative targets for end-December 2021 and end-March 2022 under the IMF’s EFF making it eligible for a drawdown of US$23 million.