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Billion dollar offer still available

CARLOS ATWELL, ​[email protected]

Billion dollar offer still available

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THE US$1 billion offered to Barbados by two British investors last December is still on the table.

Financier Andy Stewart said he was still in contact with his international business partners and the money could be made available if needed.

Stewart, speaking after a presentation of tablets to Welches Primary School, told NATION ONLINE he strongly disagreed with Barbados’ recent “savage” downgrade and was willing to help any way he could.

“We have a savage downgrade from [credit agency] Fitch and I don’t agree with [it]. This economy is not going to fall into the sea . . . . While it is not my place to tell either the Democratic Labour Party or Barbados Labour Party what they should do, in the event they wanted to borrow money from the international community, [those people] would look over their shoulders at that Fitch savage downgrade but I am assuring you the appetite within the world financial community to put a bond together for Barbados is still there. Nothing has changed,” he said.

Last year Stewart and his business partner Stuart Fordham offered to secure a US$1 billion sovereign bond on the international market as an alternative to the International Monetary Fund (IMF).

Now, Stewart said he was pleased the IMF had “gone away” and the European Union was offering aid but reiterated his offer was still available and he was willing to sit down with Minister of Finance Chris Sinckler to discuss it. (CA)