Barbados delegation seeks to lure investors from Britain, USA

Finance Minister Christopher Sinckler is leading a delegation to Britain and the United States hoping to attract new investments to Barbados.

The delegation, which includes Governor of the Central Bank of Barbados, Dr. Delisle Worrell, will meet with bankers and potential investors with a view to updating them on this island's recent economic performance. 

“In addition, they will have one-on-one meetings with large institutional investors who usually purchase emerging markets sovereign debt or who may have previously purchased Barbados' international bonds,” a government statement said.

Sinckler said that he anticipates that the four-day trip “will assist in preserving Barbados' credit worthiness, while maintaining the confidence of prospective investors that this country is an economically stable and secure place to invest”.

Earlier this year, the Central Bank said the local economy had contracted during the first six months of the year with the main foreign exchange sectors –tourism and international business and financial services -also suffering a decline.

It said that the local economy grew by just 0.6 per cent and among the priorities for the future will be to reduce spending “in the economy so as to balance the inflows and outflows of foreign exchange “and also “to revive economic growth led by tourism, international business, agro processing and alternative energy”.

 

(CMC)

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Date Posted

October 02 2013