Government borrows US$150 million
The Barbados Government has secured a five-year US$150 million floating rate loan from regional and international investors.
“The amount raised provides the planned foreign financing for the current fiscal year and serves to augment the stock of international reserves, while the recently announced fiscal measures take effect,” the Central Bank said in a statement issued today.
“Consistent with Government’s medium-term fiscal and growth strategy, part of the loan proceeds will be invested in a number of critical capital projects.”
Government’s net public debt ratio is expected to increase to approximately 68.1 per cent as at December 2013.