S&P affirms Barbados

Standard & Poor’s said it affirmed its BB- long-term and B short-term sovereign credit rating on the government of Barbados.

The outlook remains negative.

S&P said the ratings on Barbados reflect its large fiscal deficits and high debt burden, as well as its limited fiscal flexibility. However, the country has a stable, predictable, and mature political system, which benefits from consensus on major economic and social issues, including support from the private sector and trade unions for the government’s ongoing fiscal and structural adjustment program.

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