Black Immigrant Daily News
Prime Minister Mia Amor Mottley is today stressing that “the world is becoming a very inhospitable place” and stands by the judgement calls that this government of Barbados has had to make “as to what we do”.
I go into discussions with the World Bank shortly
On the heels of returning to the International Monetary Fund (IMF) to enter into another programme, she today (September 28) at Ilaro Court shared after the IMF visit, that Barbados will go into talks with the World Bank next.
She said, “The reality is that our work with the International Monetary Fund will make our work also easier with other institutions that provide concessional funding.”
Giving examples she went on to say, “Whether it is with the Latin American Development Bank, otherwise known as the CAF, whether it is the Inter-American Development Bank (IDB)” or the World Bank and “I go into discussions with the World Bank shortly.”
To have a stable outlook as a small developing country coming out of an IMF programme… is in.. fact, a statement of encouragement and confidence
PM Mottley justified taking these steps saying, “When people think they have reached that point of safety…BAM! Something can happen and everything is exploded, and therefore, what we do today is to make an interpretation of the environment in which we are functioning and to determine the best way to treat to this environment is to not only have to meet the overcast nature of the global economy and the occasional thunderstorms and hurricanes it is presenting but the best way to meet those circumstances is to make sure that we have a raincoat, an umbrella, boots and any other type of equipment necessary to protect the 300,000 or odd souls that inhabit these 166 squared miles.”
And she said that considering the most recent rating and outlook from S&P Global Ratings (formerly Standard and Poor’s or S&P) for the country, she is confident that this Administration is taking the right step for this country.
“Standard and Poor’s gave us the same rating, held our rating at a time when they have downgraded many, many others, but above all else is, more warming is that they gave us a stable outlook. To have a stable outlook as a small developing country coming out of an IMF programme at a time when the world is facing triple crises is in truth and in fact, a statement of encouragement and confidence.
“[It is] Not a statement that will cause us to become complacent; not a statement that would cause us to rest on our achievements. But one that would give us encouragement that the direction in which we are moving is the right direction.”
NewsAmericasNow.com
