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Local debt ‘no concern’

YVETTE BEST, [email protected]

Local debt ‘no concern’

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BARBADOS’ INVESTED DEBT is not a problem.

And further, said senior operations officer for Government securites at the Central Bank of Barbados, Linel Franklin, Government paper “is safe”.

Franklin was responding to a question during a discussion at the Grande Salle yesterday relating to the safety of things like savings bonds, treasury bills and mutual funds, given the recent downgrades on the international market.

“The downgrades only affect the Government of Barbados if they go now on the international market and borrow,” she said.

“. . . We are being downgraded, but we have not approached the financial markets, because if we go to the financial markets because of our downgrades we are going to be faced with a tremendous interest rate, and we would not be able to pay it. (YB)

Please read the full story in today’s Midweek Nation, or in the eNATION edition.