“Barbados will fire 3,000 public sector workers by March and freeze wages as the eastern Caribbean island’s debt burden soars and the International Monetary Fund says ‘urgent adjustments’ are needed. Barbados’s ratio of debt to gross domestic product reached 94 percent in September, the IMF said today, more than the 93 percent that forced Cyprus to seek a European Union-brokered bailout in March. Finance Minister Chris Sinckler told lawmakers yesterday that the government risks ‘further hemorrhaging’ of its reserves and the local currency’s peg to the dollar if nothing is done. Barbados’s financial struggles are mirrored across much of the Caribbean, which has seen eight debt defaults since 2003.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
State Department Demands Takedown Of 3D-Printable Gun Files For Export Control Violations
NSA: 'We can’t stop our systems from deleting data wanted for lawsuit'
Plainclothes deputy in unmarked car pulls gun; 5 officers attack and tase brothers
Basta 'La Casta': No End in Sight to Italy's Economic Decline
California says will block crude oil from Trump offshore drilling plan
Drones are cheaper and more powerful. In US, that's a problem, lawmakers told
Creator of PGP explains why he moved his company to Switzerland
British prime minister: Edward Snowden harmed national security
Rand Paul: Blame Dick Cheney for Iraq violence, not Obama
Housing recovery advances as resales hit two-year high
A Flourishing $40 Million Medical Marijuana Industry Helps Israelis Forget
Russia Will Probably Hold Rates After Surprise Inflation Jump
Iran's Rouhani urges end to meddling in private lives
Angela Merkel denied access to her NSA file
Sapulpa man, cleared by DNA evidence, plans to sue for wrongful arrest