BY GOVERNMENT OF BARBADOS | OCT 20, 2022
Minister in the Ministry of Finance and Economic Affairs, Ryan Straughn. (FP)
This afternoon’s credit rating by Fitch demonstrates the confidence in the Government’s macroeconomic programme but more importantly, it reflects the sacrifices made by ordinary Barbadians over the past few years.
After years of continuous downgrades under the previous government, this rating action signals an upgrade, which is a step in the right direction, when compared to the current ratings by other agencies.
We are not yet back to investment grade level but this will ease the cost of borrowing for entities operating in Barbados, particularly at a time of rising global interest rates.
We believe that once we can stay the course and we can complete the reform efforts under the Barbados Economic Recovery and Transformation Programme 2022, then this government would be able to see the country through very tough times, and therefore, we ask Barbadians to stay the course.
