Barbados Opposition blames Gov’t for downgrade
Published:Monday | November 16, 2009 | 9:24 AM
Opposition Leader, Mia Mottley has blamed the government’s fiscal incompetence for the latest downgrade of Barbados’ economy.
On Friday, the New York based, Standard and Poor’s lowered the island’s rating from stable to negative.
Mottley said Prime Minister, David Thompson’s near three-year-old administration is responsible.
She also cites the government’s lack of imagination on how to deal with economic problems as among the causes.
The ratings agency blamed a worse than anticipated recession in Barbados for the situation.
It forecast net government debt at 52 per cent of Gross Domestic Product this year, up from 42 per cent three years ago.