Sunday, April 21, 2024

PM: Life goes on after downgrade


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Downgrade or no downgrade, life in Barbados goes on.
According to Prime Minister Freundel Stuart, his Democratic Labour Party (DLP) Government will continue to make whatever changes are necessary to cause as little disruption as possible to the social fabric of Barbados as the island continues to grapple with the worldwide recession.
The DLP leader made it clear today that maintaining the precious foreign reserves remains the most important factor as the island deals with the recession.
Speaking after a double-parish mass canvass through St Andrew and St Joseph, the Prime Minister said he was in no way surprised that the international rating agency Moody’s had downgraded Barbados and had followed in the footsteps of Standard & Poor’s.
“No country rejoices at being downgraded, but it has not altered one tittle, any of the facilities to which Barbadians are entitled and to which they have access. Life continues. We have a comfortable foreign exchange position at the moment, and we are meeting our commitments in health and education. And we are still keeping our public servants employed.”
He added that his administration would continue to maintain stability in Barbados, since the recession would have to eventually end. (BA)
Full story in tomorrow’s SUNDAY SUN


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