No to debt restructuring
THERE IS NO JUSTIFICATION for Barbados to undertake debt restructuring with its creditors.
That’s the word from Minister of Finance Chris Sinckler who yesterday rejected suggestions from two economists that the island would be better served if it called in creditors and arranged a debt restructuring deal that would see them accepting less interest income on loans they made to the country.
Sinckler maintained that Barbados had “never defaulted” on any of its external or local loans and “so it will remain”.
He was responding to RBC Financial (Caribbean) group economist Marla Dukharan’s suggestion that a restructuring deal would be a faster solution to getting the island out of what she described as a “high debt low growth” economic situation.
Please read the full story in today’s Sunday Sun, or in the eNATION edition.