Nation e-Edition

No surprise

No surprise Minister of Finance Chris Sinckler. (FP)

By Geralyn Edward, Business Editor | Sat, December 22, 2012 - 12:08 AM

Another international agency has relegated Barbados’ credit rating to “junk” status but while Government says it was not surprised by the move, the Opposition contends that it was another sign the economy was not stable.

Moody’s Investors Service announced late Thursday night that it had lowered the island’s foreign and local currency bond ratings to Ba1 from Baa3, while maintaining that the economic outlook was “negative”.

But in a swift response, Minister of Finance Chris Sinckler said: “The most recent ratings downgrade by Moody’s Investors Service comes as no surprise to us in the Ministry of Finance or in the Government, as a whole.”

Sinckler said in a statement that it was generally expected that since Standard & Poor’s had made their adjustment to the country’s credit rating some months ago, it was altogether likely that Moody’s would align their rating accordingly.

Please read the full story in today’s SATURDAY SUN, or in the eNATION edition.

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Posted by Carl Harper 1 year, 10 months ago
When Mr Sinckler says that the most recent Moody's downgrade "...comes as no surprise to us in the Ministry of Finance or in the Government," was that a show of confidence that he is on top the situation and the Barbadian people should not be unduly worried?

If the downgrade comes as no surprise, it would have been helpful if Mr Sinckler had prepared the public in advance for this eventuality. Instead, he continued patting himself and fellow ministers on the back on how well government's economic policies are working. It would have been more palatable and easily digested to know ahead of time, rather than a few days before Christmas.

This is akin to a tsunami approaching the island's south and west coasts and the Minister of Finance being armed with that information and leaving us to fend for ourselves.

How can we have confidence that this DLP government can lead us safely out of this doomsday apocalypse?

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Posted by J. Payne 1 year, 10 months ago
So why not call general elections now and take all de licks now rather than later? I guess the DLP doesn't remember school days, the more you wait, the harsher licks does be.

  • 5
Posted by J. Payne 1 year, 10 months ago
Keep telling wunna selves don't panic! *smile*

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