Don’t be downbeat about the downgrade Moody’s recently gave Barbados, says Prime Minster Freundel Stuart.
Confident about the country’s economic prospects, Stuart says the recent negative downgrade from the Moody’s Investors Service, was no cause for alarm in a global recession.
Stuart’s comments were made shortly after he returned home this evening, from a visit to China and Britain. He was speaking to the Press at the Grantley Adams Airport.
He said that in the context of the economic turbulence experienced in Europe, namely Spain, Portugal, Greece, Barbados had done well under the circumstances.
“If in the context of all of that and Barbados is downgraded by one of two downgrading agencies, I do not think that that is an occasion for alarm. If Barbados had been downgrading in very normal economic circumstances, I would have to do some very serious introspection and ask where it is we went wrong…”
