Debt deal to save $5b

Barbados’ debt exchange deal reached with foreign creditors last week will see it having to issue bonds valued a little over $1 billion.

But according to Minister in the Ministry of Finance, Ryan Straughn, the overall deal was worth it, since it would save the economy $5 billion over the next four years.

The US$547 million bond was broken down in the House of Assembly yesterday by Straughn, during debate on the Debt Holder (Approval of Debt Restructuring) (Validation) Bill, 2019.

The deal consists of two components. (BA)

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