Barbados Prime Minister Mia Mottley
Barbados Prime Minister Mia Mottley has hit back at critics who say the country's debt is out of control.
Ms. Mottley says despite allegations by opposition voices, the country's debt was still lower than when her administration first took office in 2018.
When Ms. Mottley took over the reins of government, the debt was 178.9 per cent of gross domestic product (GDP). At the end of February 2024 it stood at 114.6 per cent of GDP.
She added that in 2018, debt servicing cost the country $0.68 of every dollar of revenue with the government now paying $0.30 of every dollar to service debt.
The Prime Minister said this accomplishment was nothing short of exceptional, given the spate of natural disasters and exogenous shocks which impacted Barbados over the last six years.
Among those mentioned were the COVID-19 pandemic, the La Soufriere eruption in St. Vincent and the war in Ukraine, which continues to cause supply chain disruptions.
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