S&P Negative on Barbados Finances

S&P Negative on Barbados Finances

Caribbean

S&P has revised Barbados outlook to negative from stable and affirmed its BBB rating as it believes the timeliness and magnitude of the Caribbean country’s fiscal consolidation is uncertain because of a worse-than-anticipated recession. The outlook also reflects the possibility of a downgrade if authorities fail to consolidate general government deficit (estimated at 7.1% of GDP in 2009) and do not curb rising debt. “We forecast net government debt at 52% of GDP this year, up from 42% just 3

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