BARBADOS IS EXPERIENCING a foreign currency crunch.
Those feeling it most are businesses, some of whom are finding it difficult to get foreign exchange in a timely fashion through local banks to pay overseas suppliers.
President of the Bankers Association of Barbados, Glyne Harrison, confirmed there was “tightness” in the market and admitted a prioritising of requests from businesses might have been instituted at some of the six commercial banks here.
But he stressed there was no need to panic over availability of foreign exchange as the situation should soon sort itself out.
For one businessman, though, Harrison’s assurance rings hollow as he claims his company’s credit rating has already suffered as a result of the problem. (SP)
Please read the full story in today’s Daily Nation, or in the eNATION edition.
