Barbados News Business

Foreigh reserves exceed 1B

Barbados foreign reserves currently stands at 1.489 billion dollars.

The figure stands as of February 17th 2020.

The update was provided by Minister in the Ministry of Finance, Ryan Straughn as he led off debate on the Exchange Control Amendment Bill, 2020.

Minister Straughn says the reserves had fallen significantly under the previous administration with the island recording an acceleration in downgrades.

Upon taking office, he says the new administration sought to correct the wrongs.

Minister in the Ministry of Finance, Ryan Straughn

While recognizing government is a continuum, Mr Straughn says there must be a clear contrast between the current and previous Democratic Labour Party administrations.

He made it clear fiscal discipline in small economies like Barbados is paramount.

Minister in the Ministry of Finance, Ryan Straughn

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