Research Update: Barbados Outlook Revised To Positive On Stronger Economy; 'B-' Rating Affirmed

After a series of external shocks, Barbados' economy is growing well, which should support the government's financial objectives that include sustained primary surpluses and debt reduction. The government issued domestic debt this year, indicating improvement in the domestic capital markets and potential additional financing capacity beyond multilateral support. Therefore, S&P Global Ratings revised the outlook to positive from stable and affirmed its 'B-' long- and 'B' short-term foreign and local currency sovereign credit ratings on Barbados. The transfer and convertibility assessment remains 'B-'. The positive outlook reflects our expectation that the government will continue to work on economic and fiscal reforms, which when completed should support improved fiscal results and economic growth prospects. On Oct. 26, 2023, S&P Global Ratings

...- After a series of external shocks, Barbados' economy is growing well, which should support the government's financial objectives that include sustained primary surpluses and debt reduction. - The government issued domestic debt this year, indicating improvement in the domestic capital markets and potential additional financing capacity beyond multilateral support. - Therefore, S&P Global Ratings revised the outlook to positive from stable and affirmed its 'B-' long- and 'B' short-term foreign and local currency sovereign credit ratings on Barbados. The transfer and convertibility assessment remains 'B-'. - The positive outlook reflects our expectation that the government will continue to work on economic and fiscal reforms, which when completed should support improved fiscal results and economic growth prospects....

Research Update