THE THREAT OF a dollar revaluation could be looming on the horizon for Barbados following another downgrade.
That’s according to a Caribbean Information and Credit Rating Services Limited (CariCRIS) report, which listed the threat of revaluation due to the printing of money and persistent external account deficits.
Yesterday, CariCRIS downgraded Barbados’ $300 million debt by one notch from a CariBBB+ to a CariBBB, and also downgraded the island’s currency rating from CariA- to CariBBB+.
Analysing the country’s strengths and weaknesses, the Trinidad-based agency noted the Government’s commitment to continuing its 41-year-long BDS$2 to US$1 exchange rate. (AD)
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