Barbados government broke • Caribbean Life

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The government of Barbados’s financial troubles have got so bad that it will be calling on private sector banks and other corporations for a bail out, according to Central Bank governor, Cleviston Haynes.

The head of Barbados’ monetary authority said this week that government foreign reserves are so low that “accessing increased public and private sector capital flows is therefore warranted to strengthen the reserves position.”

To illustrate, at a glance, the dire straits in which Barbados finds itself, a look on current financial holdings as reported by Haynes Wednesday, must be compared with how the nation’s foreign reserves stood a year ago, then through the past three years.

Haynes revealed in his first quarter…

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