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The National Debt

News

Standard & Poor's raises its long- and short-term foreign currency ratings on Barbados.

On Dec. 11, Barbados exchanged approximately US$531 million in new 2029 bonds and US$32 million in past due interest bonds to holders of its U.S. dollar bonds that had been in default since 2018, resulting in S&P raising the ratings six notches.
Commentary & Analysis

Two great deals in one week

The new agreement reduces by 26.3% the original debt and interest past due as well as accrued since October 1, 2019. Now at mid-year that investors’ group said it held about 55% of Barbados’ US$1.5 Billion worth of foreign debt, so that means that a 26.3% reduction is almost US$400 million.