More financial trouble may be brewing on Barbados’ horizon.
The United States is proposing that Barbados be cut off from hundreds of millions of dollars in low-interest loans on offer from the Inter-American Development Bank (IDB).
And the Obama Administration is making the move at a time when the island needs all the international financial support it can get in the wake of Standard & Poor’s recent downgrade of Barbados’ credit rating from an investment grade to junk bond status.
Should Washington succeed, Barbados would be “graduated”, declared ineligible for project loans for housing, education, health, energy and the environment.
