Country Information Export Development Canada South and Central America and the Caribbean

Barbados

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Evaluating the market in Barbados

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EDC Position

EDC Country Position – Open on highly restricted basis

Open on highly restricted basis

What this means:

  • Reactive approach to business
  • EDC solutions are available on a highly restricted basis
How does EDC determine the position?

Risk Rating

EDC Country Position – High Risk

High Risk

What this means:

The Commercial Country Ceiling (CCC) Risk Rating is measured from low to high, and is meant to represent the best possible rating that can be assigned to a commercial business (obligor) in a country.

How does EDC determine the risk rating?

Business environment in Barbados

Barbados is currently facing a precarious economic and financial period. The newly elected government is facing insolvency given the high level of public debt. Foreign exchange reserves are at critically low levels, representing just over one month of import cover. This challenges the country’s currency and raises the financial risk of a run on the currency. The government will need to enact fiscal consolidation measures and implement structural reforms to support future economic growth. The commercial environment is expected to be negatively affected by a potential domestic debt restructuring scenario, with IMF assistance to the banking system likely necessary.
  • Construction & Infrastructure
  • Environmental Infrastructure & Waste Water
  • Power
International Trade Solutions

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1-888-220-0047

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Alicia McCarthy

Senior Trade Advisor, EDC

Alicia McCarthy  Senior Trade Advisor, EDC