UWI academic says Barbados has no choice but to borrow : com

UWI academic says Barbados has no choice but to borrow

In the absence of buffers and with less access to financing than bigger countries, the Barbados Government has very little option other than to borrow money to keep its economy afloat.So says Pro-Vice Chancellor of the Board for Undergraduate Studies of The University of the West Indies, Professor Justin Robinson, who added that access to financing was critical considering Barbados’ extreme vulnerability to external shocks and the length of time it takes the country to rebound from them.He made the comments on Friday afternoon while delivering the Democratic Labour Party (DLP) Astor B Watts Lunchtime Lecture on the topic, The Global Financial System and the Caribbean, at the party’s George Street headquarters.Professor Robinson said that while debt and borrowing were often seen in a negative light, accessing financing was extremely important as the Government required around $3.5 billion annually just to pay its bills.

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