Central Bank of Barbados challenges rating downgrade

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The Central Bank of Barbados on July 17 responded firmly to the decision taken by rating agency Standard and Poor's (S&P) to lower the country's long- and short-term sovereign credit rating from BBB-/A-3 to BB+/B.

The central bank complained that the rating agency had said the country's foreign debt had become more risky, saying this was "manifestly not the case". The statement was clear: "Barbados does not have a debt problem," it said.

"The economy is stable, and we are living within our means

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