Barbados' ratings reflect: Its track record of good economic management based upon policies consistent with the country's fixed exchange rate. Barbados has enjoyed eight consecutive years of noninflationary economic growth based upon successful development of tourism and financial services, pushing per capita GDP towards $10,000. Barbados ranks thirtieth globally, and first in the Caribbean, in the United Nations' human development index. Prudent fiscal policies and the country's high educational and health standards underpin its flexibility in shifting toward a more diversified service economy and away from dependence upon commodities. A modest external debt burden and low debt service. The country's total external debt is around 60% of current account earnings, less than half the median level for similarly rated sovereigns.
