Political stability and strong governance, reflecting mature political, judicial, and economic institutions. Track record of proactive policy responses to previous economic crises and tripartite support for the government's current adjustment program. Large surpluses at the National Insurance Scheme, providing flexibility to fiscal accounts. Fiscal deficits that are large and unsustainable in the medium term, leading to a rising debt burden that is significantly higher than the 'BBB' median. A small, open economy with high dependence on the U.S. and U.K. A difficult economic environment continues to strain Barbados' fiscal accounts and has taken a serious toll on this small and open country, which relies on tourism and foreign investment. Barbados' real GDP contracted by 4.8% in 2009 (in line with
