B’dos hopes for a debt swap

Barbados is hoping to execute a debt-for-climate swap early next year to secure savings of around 300 million over a 15-year period.

 Minister in the Ministry of Finance and Economic Affairs Ryan Straughn, says the funds will be utilized to fund clean water supplies.

According to Mr. Straughn, Barbados is working with the Inter-American Development Bank and the European Investment Bank on credit guarantees.

In September 2022, Barbados carried out a “debt-for-nature” swap, which saw 150 million of international bonds swapped for cheaper debt, generating 50 million for marine conservation.

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