Politics
Barbados to receive up to $100 million in EU grant funding
“The present adjustment exercise will not be the end of the restructuring period since the restructuring will extend to a reform of state entities outside of central government, as the goal is to bring the deficit down below five percent,” Sinckler advised. Sinckler also added that the country’s present foreign reserves could cover 15.2 weeks, boosted by the Credit Suisse loan in December 2013.
He went on to say that the foreign component of the debt was currently about six percent of foreign exchange earnings, which was manageable, and going forward it would remain below 10. Sinckler also said that the larger part of Barbados’ debt is held domestically and with high liquidity in the domestic financial sector, roll over risks are low. The statement said,
“The two sides agreed to have more regular dialogue that could help resolve budget support issues.”
Source: Caribbean360
