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An international economic consultant is warning that Barbados and other Caribbean countries are at the tipping point of a serious debt crisis.“There is now a growing sense that the world needs another new global initiative on debt,” said Jwala Rambarran, a former Governor of the Central Bank of Trinidad and Tobago.His sobering declaration was made yesterday during the virtual launch of a report entitled: Caribbean Emancipation 2030: A Sovereign Debt and Climate Justice Initiative for Caribbean Small Island Developing States (SIDS).Rambarran, who authored the study on behalf of the Caribbean Policy Development Centre (CPDC) contended that there’s now a need for a fresh solution to address this state of affairs.One chart in the findings of the study placed Barbados in a red zone as the Caribbean country with the highest gross public debt of 157 per cent of Gross Domestic Product (GDP) in 2020.

Trinidad and tobagoSaint michaelMia mottleyJwala rambarranSustainability trustInternational monetary fundCaribbean policy development centreGovernor of the central bankCentral bankCaribbean emancipationSovereign debtClimate justice initiativeCaribbean small island developing statesGross domestic productBarbados hiltonPrime minister mia mottley