His decision to resign from the BTMI, an agency into which he breathed life and by extension played the key executive role in building the team that would see a tourism comeback after years of decline and stagnation will leave a void.
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.
The question, she was wrestling with, said the prime minister, was whether the new cap would go to 100 megawatts or 200 megawatts. And on top of that, she added, the feed-in-tariff ought to apply not just for plants that are one megawatt and under, but for five megawatts and under, in order, she said, “to increase the democratization of the industry.”
A top investment banker in Barbados expects the government bonds to grow in popularity with now that they are being traded on the local stock exchange, but at present, it's the Series F bonds which are most in demand.
The disclosure follows the Central Bank of Barbados’ estimate, contained in its review of the economy released in early August, that tourism arrivals had increased by 3.9 percent for the first six months of 2019, for an estimated total of 373,000.
The average consumer in Barbados spends just over 60 percent of his or her wages or salary on just three categories: food and drink; housing and utilities; and transport, says the Central Bank of Barbados.