President of the Democratic Labour Party, Verla De Peiza, says she is deeply concerned about the rate that Government is accruing debt.
She said the signs of discomfort were evident in the domestic market, adding that in the last three-and-a-half years, but more accelerated in the last 15 months, Barbados had increased its debt burden by approximately $1.8 billion.
De Peiza, who was speaking at the party’s celebration of its 60th year since it was first elected to lead Barbados, called on the Mia Amor Mottley administration to tell the country how the foreign exchange would be found to service the debt that had been taken on within the context of the crisis. She warned that unlike the 2018 debt restructuring, international creditors were not going to allow themselves to be handed the short end of the stick for a second time.
“We understand that this moment in history is testing us economically, but there is a nervousness in the country. And based on my readings of the international journals, there is a nervousness in the world about the rate at which Barbados is acquiring debt since October of 2018. This comes at a time when we cannot see in the other column where we are acquiring the foreign exchange to service that debt. A day of reckoning is coming,” said De Peiza. (CLM)
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