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 that of most 'BBB' rated peers. A small, open economy with high dependence on the U.S. and the U.K. Barbados is slowly recovering from the severe impact that the global financial crisis had on the country's narrow and open economy. After contracting in 2008 and 2009, the real economy rebounded slightly (by 0.3%) in 2010.
