Debt report, no good sign

PRESIDENT OF THE Barbados Economics Society (BES), Jeremy Stephen, has described Barbados’ latest debt rating downgrade as rather unfortunate.

“Funny enough coming on April Fool’s Day, I’m guessing most of our policymakers may disagree with it or treat it as some form of a joke,” he noted.

 He said it speaks to the island’s “unsustainable amount of debt, which continues to climb, though Moody’s recognises that the pace of that increase in the amount of debt the government takes as a percentage of GDP is slowing down.”

The BES president said Moody’s also seems to question the level of growth and also the pace of fiscal consolidation. (ES)

Please read the full story in today’s Sunday Sun, or in the eNATION edition.