US$1B loan still on the table

Article by CA

SECURITIES EXPERT and financier Andrew Stewart is upset over Barbados’ recent “savage” economic downgrades but said his US$1 billion offer was still on the table.

Stewart, speaking yesterday after a presentation of tablets to Welches Primary School, said he was still in contact with his international business partners and the money could be made available if needed.

“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 . . . [and while] it is not my position to tell Parliament 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.

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