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THE Government of Barbados has secured BB$146.52 million from the issuance of a dual currency blue bond with Inter-American Development Bank (IDB) and The Nature Conservancy (TNC) acting as guaran...

As Government seeks to enter into a debt-for-nature swap to help fund marine conservation efforts, lawmakers are giving the assurance that it will not cost taxpayers a cent.Minister in the Ministry of Finance Ryan Straughn explained that the debt swap arrangement, which is being entered into with CIBC FirstCaribbean and Credit Suisse International at  BDS$150 million each, was to allow government to buy back a portion of its existing debt at a lower interest rate - both Eurobonds and Series E bonds.He said that it is the interest payment saved that would be diverted to the Barbados Environmen...

The Barbados government assured taxpayers on Tuesday that they will not be footing the bill of the debt-for-nature swap to help fund marine conservation efforts. Minister in the Ministry of Finance & Econ0mic Affairs, Ryan Straughn told Parliament that the debt swap arrangement, which is being entered into with CIBC First Caribbean and Credit Suisse International at $150 million each, was to allow the government to re-purchase a portion of …

Faced with a $2 billion economic contraction and related $600 million fall in revenue, Government would have found it “completely impossible” to finance Barbados’ response to the COVID-19 pandemic without borrowing more money from the International Monetary Fund (IMF) and others. Now having taken on the increased financial burden, the IMF and other key players in the international community need to give Barbados and other countries the room to more …