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Heed S&P’s advice

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Heed S&P’s advice

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TWO FORMER GOVERNORS of the Barbados Central Bank have suggested that Barbados heed the advice of the international rating agency Standard & Poor’s.
Standard & Poor’s on Monday lowered the island’s economic outlook from “stable” to “negative” while maintaining Barbados’ BBB-/A-3 rating, and warned of a downgrade if Barbados failed to implement measures to correct its economic problems.
Speaking against the backdrop of S&P’s latest rating, first Central Bank Governor Sir Courtney Blackman yesterday chided the Government for reacting too slowly to the current global economic crisis when it began.
In an exclusive interview with the MIDWEEK NATION, Sir Courtney said Government reacted “a little slowly and continued to spend in the early years after the crisis in ways that they should not have”. (GC)
Full story in today’s MIDWEEK NATION.