BARBADOS GOVERNMENT BORROWS (ONCE MORE) US$150 MILLION

The Barbados Government has secured yet another a 5-year U.S. $150 million floating rate loan from regional and international investors.

The amount raised provides the planned foreign financing for the current fiscal year and serves to augment the stock of international reserves, while the recently announced fiscal measures take effect.

The amount raised provides the planned foreign financing for the current fiscal year and serves to augment the stock of international reserves, while the recently announced fiscal measures take effect.

Consistent with going to hell in a disintegrating hand-basket Government’s medium-term fiscal and growth strategy, part of the loan proceeds will be invested in a number of critical capital projects hopefully not Four Seasons and to leave any NIS profits remaining severely alone. Government’s net public debt ratio is expected to increase to approximately 68.1% as at December 2013.

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