est. 2007

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Downgrades …16,17,18,19 -Moody’s Credit Rating Condemns Barbados Bonds to the Ultra-High Yield Club

Read full article: Ultra-High Yield Club Gets a New Member as Barbados Bonds Slump

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?

 

269 responses to “Downgrades …16,17,18,19 -Moody’s Credit Rating Condemns Barbados Bonds to the Ultra-High Yield Club”

  1. lawson Avatar
    lawson

    You claiming barbados just got some self respect….dropping you aged off at the doors of the QEH….old people and disabled living like dogs in run down houses…etc they would take anybodys money putin, botha,trump pensioners

  2. David Avatar
    David

    It is the same across the Caribbean, our societies are flailing.

    What is even more startling is the rapidly worsening fiscal situation with loans not used to stimulate the economy, sustainable development projects, innovation, entrepreneurship, SME sector, improving agri & tourism infrastructure, new sources of revenue, but on “maintaining lifestyle and preventing riots”….

    What this means is that there is nothing that we can expect to come on-stream soon, nothing that can slow the decline, and nothing that can prevent another few quarters of deep economic decline.

    The govt has to admit whatever plan they had or have is useless and damaging to the nation, and one is not sure there is any plan since the govt never speaks of any, plan being a bad 4-letter word with this govt. But even if they had no plan then they had better get one now! Wake up, Rowley Govt! Stalling, praying, hoping is not a plan but utter recklessness that is taking the nation down and down and down….stop the free fall, now!

    http://www.central-bank.org.tt/node/1777
    http://www.central-bank.org.tt/node/1776

  3. angela Skeete Avatar
    angela Skeete

    The opposition is marching on dangerous territory waving the Rating agency card in one hand and giving a perception that the remedy of bitter medicine is applicable as a solution .
    A solution which the barbadian people would solidly object and a remedy which would jeopardize the blp chances of winning any election
    The addage that a picture is worth a thousand words would be demonstrated today by an opposition who unwittingly might have given the people of barbados what solutions they have in mind for the economic woes
    Raising disdain against govt policies yet willing to allinged themselves with international financial institution policies that would hurt the people of barbados and march society into a dismal and protracted way of life

  4. Bush Tea Avatar
    Bush Tea

    @ The blogger formerly known as AC….
    The truth is that Bajans are not marching for a ‘remedy’….
    We just want to get rid of your ugly lot of incompetent, dishonest, devils.

    See if that is simple enough for yuh…

  5. Exclaimer Avatar
    Exclaimer

    This is a thoroughly depressing video: http://bcove.me/98q1fw69 featuring Mia and others.

    Our governments both present and previous have been negligent in their mismanagement of our country. Our people have toiled over a period of well over three centuries under the yolk of the the white man. A period long enough for us to appreciate the significance of 1966 – our year of independence. Yet, we appear to have learned very little.

    Who would have believed that a country that has recently celebrated fifty years of independence could appear comfortable in selling of her assets such as land, ports, institutions, businesses, et al. in order to pay for the folly of her leaders drunken mismanagement of the nation’s economy.

    Is it not self-evident to all that we are turning back the clock and that we are creating a perfect breeding ground for our very own self-incarceration on the very soil from which our ancestors toiled.

  6. Exclaimer Avatar
    Exclaimer

    @ David,

    Sadly the Caribbean has become a virtual rust belt. Do not expect anything great to emanate from this part of the world. From how i read it our decline is terminal.

    So much for pride and industry!

  7. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    Lawson…get a grip…they are still not going to let you cross the US border.

    ……if ya think it’s bad in the islands now, let the island leaders lose what little respect they have now for their own people , which is not much as you can see and allow an illiterate racist animal like trump’s policies to dictate their lives and economies in the Caribbean…, are you forgetting the low class, instinct for survival mind of the racist, despite there being centuries of written proof….that they wrote themselves.

  8. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    Ah wish the blogmaster would put an…unlike button….ah just went to hit …older comments and hit like instead..lol

  9. Hants Avatar
    Hants

    The road down the hill to the bottomless pit is long winding and full of pot holes and craters.

    Looking back is of minimal value.

    Since you do not want to end in the ” the bottomless pit ” what must you do today, tomorrow and every day ?

  10. Tron Avatar
    Tron

    So far no statement from PM or MoF. If they repeat their statement on S&P, Barbados will turn into an economic killing field soon.

    The chance for a repetition of the S&P statement is at least 10:1.

  11. Tron Avatar
    Tron

    However, Eastwitch did, talking about “UAE refinancing plan”.

    What does Eastwitch mean when he talks about “refinancing plan”? The IMF wanted to bring Bim government and UAE together two years ago for the following deal: selling exploration rights for oil and gas in the Middle Atlantic in exchange for money. The Arabs run out of oil, they search for new fields. Guess who prevented him and three other ministers to fly to IMF?

    I wonder why Eastwitch never mentions oil and gas in any public discussion.

  12. lawson Avatar
    lawson

    WW your losing it I got my trump hat,my trump mug, my trump golf clubs,and i am the color of money they aint keeping me out. lol All kidding aside We all know that there are too many people on the island the govt should pay people to emigrate .

  13. Carson C. Cadogan Avatar
    Carson C. Cadogan

    Someone somewhere is trying to get their hands on Barbados. But we will stay the course. We as a Nation does not need to be validated by a bunch of White people sitting in an office somewhere in America or England. We have passed that Colonial way of thinking.

    Bur judging form some of the comments here maybe not all Black people in Barbados are free of the Colonial yoke around their necks.

  14. David Avatar
    David

    Right, swap the validation by the White men with the Orientals read Chinese.

  15. Tron Avatar
    Tron

    There is also a hidden agendy behind the Chinese loans. SONAR and ELINT in American backyard?

  16. lawson Avatar
    lawson

    tron votes at un

  17. lawson Avatar
    lawson

    ccc .yeah neptune..how much glacier melt or kickum jenny do you think it will take

  18. Weston Avatar
    Weston

    “We as a Nation does not need to be validated by a bunch of White people sitting in an office somewhere in America or England.”

    Don’t get this. The rating agencies comment on all debt issuing countries across the globe. Sounds like blaming the messenger.

  19. Tron Avatar
    Tron

    Folks, we are coming closer and closer to the true facts. Skeete, Alvin and Carson at the same time. Call them the alternative Triple-XXX or democratic Bermuda triangle. That is no accident. I feel the heat, I smell the blood, I sense despair.

  20. are-we-there-yet Avatar
    are-we-there-yet

    Tron; re, your 10:05 am post.

    Yes! SONAR and ELINT!

    You and some others might be right. Perhaps a temporary but possibly ephemeral salvation for Barbados might lie with facilitating the Chinese setting up bases for such Intelligence gathering technologies right in the US’s backyard.

    Wonder if the overtures and seeming overt acceptance of the Chinese Trojan horse is strategic and geopolitic use of the current status of American weakness and likely escalation of such weakness by a Putin led Trump administration vis a vis the increasing star of the Chinese and the Russians?

    Yuh tink de present lot in Barbados have de intelligence, guile and cojones to negotiate the best deal in such circumstances?

  21. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    Lawson…there are not too many people on the island…275, 000 people on 166 sq miles is just enough….so where do you suggest bajans emigrate to, I suggest Canada, lots of wide open spaces, they can fit 200,000 bajans there quite comfortably, ya can bring it up with Justin, am sure he will agree,..lol

    Singapore is 277.6 sq miles and has at least 6 million people.

    The women on the island need to cut down drastically on having babies until they can find decent leaders who care about the majority and not only their own pockets and a few minority scam artists.

    CCC…ya too desperate, NEW FLASH…ask Bjerkham, Cow, Bizzy, Maloney and others who yall continually sell out ya own people to…….ask them who they been talking to and who they are selling the island to next with yall help, as usual.

    Maybe yall need to look closer at the minorities ya sell out to, check which insurance company is now on facebook trying to scam free money from gullible people claiming they are selling insuramce but will in reality refuse to pay out claims when accidents happen, will take that same money and pay lawyers to avoid paying claims, clogging up the supreme court, that is what yall should be checking for instead of coming on the blog trying to cover up old lies with new lies.

    Ah haven’t seen ya on here for a long time though Carson, ah been asking the lying ACs for you….welcome back..lol

  22. Carson C. Cadogan Avatar
    Carson C. Cadogan

    Prodigal Son, this Parliamentary session has until May 2018. There will be no early elections. Sorry to burst your bubble.

  23. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    “Right, swap the validation by the White men with the Orientals read Chinese.”

    Or the deadly serious muslim dudes from the middle east, the US would love that one, never mind they are as thick as thieves as well…lol

    Weston….CCC sounds lame…the same agencies rate UK, US Canada and every country bound by economic ties, I dont know why Fruendel, Sinckler and CCC believe themselves so special…..all these countries are rated, ya dont want to be rated stop borrowing on the international market and get out of World economics.

  24. Carson C. Cadogan Avatar
    Carson C. Cadogan

    “PM Stuart honoured by Keble College, Oxford University”

    I have noticed that no one has commented on this momentous occasion. But then again a man is without Honour in his own country. Others are recognizing the greatness of our Esteemed Prime Minister.

    “PRIME MINISTER Freundel Stuart has been elected as an Honorary Fellow of Keble College, Oxford University. The Governing Body of Keble College, Oxford University, at its meeting on March 8, 2017, elected Stuart as one of its Honorary Fellows with effect from Thursday, March 9, 2017. The Prime Minister has accepted the conferment of the Honorary Fellowship by Keble College, Oxford University, on him, describing it as “an honour for Barbados and Barbadians”. ”

    Just let that sink for a while!!!!!!!

  25. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    ……..all these countries are rated or…,…DOWNGRADED…..

    Whose fault is it that the government is incompetent and has brought the island to now be teetering on the brink of default.

  26. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    “PM Stuart honoured by Keble College, Oxford University”

    Yes Carson…the same white people, but who cares, no one is impressed.

    We will take you more seriously if ya tell us how Fruendel will beat back default

  27. Hal Austin Avatar
    Hal Austin

    Keble College…an honour for Cameron Tudor.

  28. lawson Avatar
    lawson

    WW Here is my new stategy for staying the winter in barbados tell me if it will work
    I buy a place for 280000 grand on the island with cottage
    I hold the mortgage in my own rrsp
    I charge myself 2.4 interest rate
    Each year I draw 14900 from rrsp and pay it back to the rrsp as mortgage payments for the year
    I pay the govt of canada tax on my withdrawal at 20%
    I rent out the cottage to cover hydro water and so on maybe even rent house from time to time. give me drinking money while i am there
    Give canada 2900 in tax and given my rrsp 6900 in interest but have paid off 8000 in principle which is not taxable

  29. Tron Avatar
    Tron

    Wait, wait, wait … Keble College. Isn´t that the former college of our beloved CJ? Capisce?

    As far as I know such honourable titles are issued either for OUTSTANDING performance in academia, society OR for special favours for the university, eg big monetary contributions.

    Maybe the former AC can contribute some details …

  30. Vincent Haynes Avatar
    Vincent Haynes

    Keble College……Theological…….very apt as no doubt he sees prayer as his only recourse.

  31. are-we-there-yet Avatar
    are-we-there-yet

    Lawson;

    Yuh could do the reverse calculation for a Bajan from the political class with say, 3.2 million dollars worth of spare cash purchasing a 3.2 million dollars “holiday” cottage in Canada?

  32. David Avatar
    David

    The economic outlook prepared by RBC bank which basically stated the same concerns as the credit rating agencies is incorrect as well?

    http://www.rbc.com/newsroom/reports/rbc-economic-outlook.html

  33. lawson Avatar
    lawson

    Would this spare cash be in a duffel bag

  34. are-we-there-yet Avatar
    are-we-there-yet

    Lawson;

    Yes and no!

  35. angela Skeete Avatar
    angela Skeete

    The Dlp govt would be smart to unraval the sinister motives of the Blp in their ernest to be pretentious players reacting to Barbados misfortune forwarding a misleading march as a solution covered in deceit and financed by tge dark shadows and armour bearers of the blp
    Now if a march is all that the blp has to offer then the blp deserve to be in the wilderness for another forty years.
    But given their indifference to barbados financial security in their reign of goverance forty years might not be long enough
    However as i previously stated this march reveals alot about the path laden with austerity goodies the blp will be taken the most vulnerable

  36. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    “I buy a place for 280000 grand on the island with cottage”

    Lawson…it cant work, the 280,000 dollars, I presume bds, is the price of the cottage in Barbados…lol

    Barbados has a double taxation treaty with Canada…, ya keep saying ya paying taxes in Canada, giving yaself interest payments, but you say nothing about paying taxes to the island….which…if you set up an offshore business to register your newly bought house, you can pay as little as 2.5% in taxes in Barbados.

    Are you trying to tell me how many of yall Canadian criminals been ripping off the people of Barbados for decades, by not paying any taxes there….i think so.

  37. Carson C. Cadogan Avatar
    Carson C. Cadogan

    I know that Barbados is being run by Bajans. We do things our way and we have done so since Independence 1966. No need to change any thing anytime soon. We are s singular Island just take a look at our Geographical position in the Caribbean. So a few misguided Bajans who believe that RBC, S&P , Moodys and the other corrupt agencies have to give us directions on where we should go have another think coming.

  38. Wily Coyote Avatar
    Wily Coyote

    Carson C. Cadogan March 11, 2017 at 10:48 AM #

    “PM Stuart honoured by Keble College, Oxford University”

    Carson this is British SATIRE, their rubbing white salt into the black colonial wound.

  39. David Avatar
    David

    The Bees and Dees swarming Facebook today. Just had a litle runin with James Paul.

    https://www.facebook.com/kammie.holder/posts/1856083894606251?comment_id=1856117231269584&reply_comment_id=1858495167698457&notif_t=feed_comment_reply&notif_id=1489244385080178

  40. Colonel Buggy Avatar
    Colonel Buggy

    Will the Prime Minister brush off this upgrade from Keble College ,as he did the downgrade from Moody and S&P ? After all he is not a little yard boy who must pass an exam set by foreigners.

  41. Carson C. Cadogan Avatar
    Carson C. Cadogan

    I would bet all the tea in China that those on this blog who believe that we must take as gospel every word out of the mouth of corrupt rating agencies are older than 59 years.

    these old school jokers are all of the opinion that Black people are incapable of ruling them selves without input from Colonial masters. They have this slave mentality.

  42. David Avatar
    David

    Oh shiiiirt!

    Cynthia Forde MP for St. Thomas just posted to her BLP Facebook page having not done so since July 2015.

    https://www.facebook.com/Votecynthiaforde/photos/a.1239704629458899.1073741831.365301690232535/1239704656125563/?type=3&notif_t=page_reengaged&notif_id=1489248506967166

  43. Own Area Avatar
    Own Area

    Carson

    The biggest joke is the PM trying incite Bajan’s predjudices and fears of foreigners to camouflage his and his administration’s incompetences and utter failures. The end of the Stuart administration has already begun, today is just the date when the vibrations of the people and opposition reaches him, FINALLY.

  44. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    Wrong CCC…am not 59.

    Stop giving Cow, Bizzy, Maloney et al black people’s NIS pension money, contracts and millions of dollars of taxpayers money and we will not see yall as the little yard boys and girls selling out to minorities that ya are……,

    ……ya remenber Canadian Clare Cowan and the Cahill scam….how can you forget…

    What kind of concessions are yall going to give the shady Canadians Del Mastros at the expense of black people on the island….40 years like Sandals….yall are a disgrace who will be kicked right out of the people’s parliament…soon come.

  45. Vincent Haynes Avatar
    Vincent Haynes

    WELL,well,well….chuckle……one can truly say that the increase in govt operatives on this site,shows beyond a shadow of doubt that they are fearful of the sword of damocles shining brightly over head and the contradictory nonsense being written e.g. no need for validation from any foreign agencies we are big people nobody can tell us what to do etc,etc,etc…then in the same breath thumping their chests over primus inter pares receiving a validation from a theological College from its colonial master……..what arrant hypochrisy.

  46. Carson C. Cadogan Avatar
    Carson C. Cadogan

    One thing I like about you BLP jokers is the fact that you love to count your chickens before they are hatched. I thought that you have learned your lesson from the thrashing you received in 2013 after Peter Wickham and David of BU predicted that you get 28 seats in Parliament.

    here you go again, “The end of the Stuart administration has already begun,”. You BLP members and supporters are pitiful.

  47. Well Well & Consequences Observing Blogger Avatar
    Well Well & Consequences Observing Blogger

    https://www.barbadostoday.bb/2017/03/11/maloney-wants-greater-fiscal-incentives/

    Now the greedy Maloney and his backers are muscling their way to monopolize all the fiscal incentives. …because of the weak and incompetent Fruendel Stuart government.

  48. Carson C. Cadogan Avatar
    Carson C. Cadogan

    Well well you have to admit that Maloney is a great Bajan. Working assiduously in the interest of his beloved Barbados.

  49. Piece Uh De Rock Yeah RIght - INRI Avatar
    Piece Uh De Rock Yeah RIght – INRI

    @ Carson C.

    Welcome back

    Thanks for the news.

    You said and I quote (correctly) “PRIME MINISTER Freundel Stuart has been elected as an Honorary Fellow of Feeble College.

    The Governing Body of Feeble College, Oxford University, at its meeting on March 8, 2017, has shared with bajans that when Fumbles attends the function in Englant, they plan to lock his ingrunt donkey in HRH prison at London Bridge, for his exceeding “hignorance without a cause or pause”.

    So that will mean Fumbles HRH – His Rsshle Hignorance will be in Her Royal Highness’s Prison which the british call “the pokey”.

    Ammmmm de ole man had better rephrase that cause it sound like Fumbles going Feelble and will end up in the Queen’s “pokey” and that does not sound too good (not like Fumbles).

    http://imgur.com/a/wW1jG

  50. lawson Avatar
    lawson

    WW not 59 .. lol ..maybe in dog years, i was thinking in canadian dollars and buying it either in BC or AD ( before collapse or after devaluation) The money never enters the island after it is purchased, but property taxes would be paid just like all the rest do….or dont.

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