IF BARBADOS DOESN’T improve its woeful credit ratings soon, its economy could be headed for a collapse.
That is the view of chairman of the Barbados Private Sector Association (BPSA), Charles Herbert, who insisted that not even phenomenal economic growth in the near future could save the island’s economy.
Pointing out that economic growth “cannot be fast enough”, Herbert contended that the island’s only saving grace is to improve its credit rating so that it can continue to access foreign loans.
Within the space of a week in March, Barbados suffered two downgrades from international agencies Standard & Poor’s (S&P) and Moody’s Investors Service. (RB)
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