Political stability and strong governance, reflecting mature political, legal, and economic institutions. Monetary stability supported by a long-standing fixed-exchange-rate regime. Strong human development indicators, reflecting high per-capita income and good education and health systems. Limited fiscal flexibility because of a relatively high general government debt level and a resulting high interest debt burden. A small, open economy with few growth prospects outside the tourism sector and high current account deficits, which leave Barbados vulnerable to negative external factors. The ratings on Barbados balance still-high external pressures and limited fiscal flexibility with political stability and strong governance within both the public and private sectors. The government has played a central role in shifting the economic focus from manufacturing and agriculture toward
