The stable outlook on Barbados was affirmed on May 1, 2002. Barbados' ratings reflect: Its many years of good economic management, based upon policies consistent with the country's fixed exchange rate. Prudent fiscal policy and the country's high education standards underpin its flexibility in shifting toward a more diversified service economy and away from dependence on commodities. The successful development of tourism and financial services has raised per capita GDP to around $10,000. That, in turn, strengthens the country's macroeconomic foundations sufficiently to absorb the negative impact of a global downturn without material disruption or damage to public finances. A manageable external debt burden and low debt service that provide comfortable external liquidity. The country's total external debt is around
