Not so fast
BARBADOS MAY NOT have passed the worst of its economic troubles.
Aaron Freedman, a senior official of Moody’s, indicated this after the international rating agency downgraded Barbados’ rating last week.
Freedman warned that the large Government deficit “could widen further by the end of the year”.
His position clashes with that of Minister of Finance Chris Sinckler, who said that Moody’s rating action showed that the worst of the economic and fiscal deterioration was behind Barbados.
Freedman, vice-president and senior economic analyst of Moody’s Investors Service, said the island might have to consider an “internal devaluation of some sort”.