We have had experts and commentators from Barbados and afar opined that the battery of credit rating downgrades levied on Barbados by the international credit agencies will add to our economic woes. Fighting to defend our peg to the US dollar becomes harder because running hard deficits as a net importer translates to pressure on the foreign reserves.
Barbadians everywhere EXCEPT yardfowls and Prime Minister Stuart believe there is no reason to be concerned. If one surveys the graph above it is obvious Barbados bondholders are very concerned. Surely the conversation will now move to flight of capital.
Will somebody tell the prime minister to shut the hell up?