Bloomberg: Barbados Debt Worst Performing in Emerging Markets This Year
Business magazine, Bloomberg has published an article stating that Barbados debt is the worst performer this year among more than 60 emerging markets tracked by Bloomberg’s USD Sovereign Bond Index.
The article, which comes just after international ratings agency, Moody’s, downgraded Barbados’ credit rating, also said that Barbados has joined the beleaguered group of countries whose dollar bonds yield more than 10 per cent.
Yesterday, after the news of the Moody’s downgrade broke, yields on the 2 hundred and 55 million dollars of notes due in 2035, rose 0.35 percentage point, joining securities from countries like Venezuela, Mozambique and the Republic of Congo with double-digit yields.
The article also quotes Royal Bank of Canada economist Marla Dukharan as stating that the government’s recent decision to fire Dr DeLisle Worrell as Central Bank Governor, would have rattled investors because it shows instability at a policy-making level.