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Stock Market / Finance in Barbados

  • Barbados Foreign Affairs Minister Maxine McClean

    BARBADOS, 2014/10/13 Barbados said that it continues to suffer the devastating impacts of the world economic and financial crisis, and like other small island developing states (SIDS) has limited scope, capacity, fiscal flexibility or policy space to respond entirely. Foreign Affairs Minister Maxine McClean told the 69th session of the United Nations General Assembly (UNGA) that the island is facing declining export request, decreased investment , and a contraction in services upon which the economy is dependent, such as tourism. “Fiscal and financial stresses have forced us to make significant adjustments to our spending programmes. Against this backdrop, we face the daunting challenge of continuing to provide adequate social safety nets for the majority vulnerable of our citizens in a responsible and sustainable manner.”

  • Governor of the Central Bank of Barbados, Dr. Delisle Worrell

    BARBADOS, 2014/03/05 Governor of the Central Bank of Barbados, Dr. Delisle Worrell is urging Caribbean nations with fixed currencies, not to entertain the thought of any devaluation as a means of restoring stability to their economies. Worrell told the Caribbean Media Corporation (CMC) that his approbation does not only apply to Barbados, where the local dollar is fixed at US$0.50 cents, but as well to those of the Eastern Caribbean, the Bahamas, Belize, and other stable currencies in the region. "There is no point in changing the exchange rate, for the only price of the Barbados dollar for instance, is the fact that it is a US dollar by an extra name," Worrell said.

  • Finance and Economic Affairs Minister Chris Sinckler

    BARBADOS, 2014/02/14 Finance and Economic Affairs Minister Chris Sinckler has acknowledged that the current economic reform programme being implemented by the Barbados government was “painful” but said it was necessary in order to put the island on a sound economic footing. Government has started laying off workers as part of a retrenchment programme that would result in at least 3,000 public servants being sent home as the Freundel Stuart government seeks to revive the ailing economy. “The structural reform of our economy can bring tremendous advantages but it is a painful exercise... We need to restructure and rebuild the base of our economy because we don't want to do these restructuring programmes each 10 years,” Sinckler said as he met with the Senior Fellow and Director Emeritus of the Peterson Institute for International Economics, Dr. C. Fred Bergsten.

  • Moody's Investors Service

    BARBADOS, 2012/12/28 Moody's Investors Service has downgraded the government of Barbados's foreign and local currency bond ratings to Ba1 from Baa3. The outlook remains negative. Moody's says the rating action was driven by key factors:
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