The African Export-Import Bank (Afreximbank) has significantly expanded its financial commitment to the Caribbean Community (CARICOM), raising its regional financing cap from US$3 billion to US$5 billion. The announcement was made during the 50th Regular Meeting of the Conference of Heads of Government of CARICOM held on 25 February 2026 in Basseterre, St. Kitts and Nevis. The increase reflects...
Barbados has officially rebased its Gross Domestic Product (GDP), updating the base year from 2016 to 2023. The move, undertaken by the Barbados Statistical Service, modernizes the country’s national accounts framework and ensures that economic measurements more accurately reflect current production patterns, price structures, and sectoral contributions. GDP rebasing is a standard statistical...
Barbados’ financial system continues to demonstrate resilience, supported by solid regulation, improving global credibility and steady progress in modernising its payments infrastructure, according to recent assessments by the Central Bank of Barbados and the Financial Services Commission. These themes were underscored in July, when the two regulators hosted a roundtable to launch the 2024 Financial...
Sagicor Life Inc. and Sagicor Group Jamaica Limited have announced plans to merge under a new regional holding structure, a move expected to create one of the Caribbean’s largest and most diversified financial services groups. Under the proposed arrangement, both entities will be combined into a single holding company known as Sagicor Group Caribbean, bringing together nearly US$7 billion in assets...
Barbados has taken a decisive step toward long-term energy security and a modernised national grid with the signing of new operational licences between the Ministry of Energy and the Barbados Light & Power Company (BLPC). The agreement unlocks more than $500 million in financing for renewable energy projects, removes looming risks to grid stability after 2028, and sets the foundation for accelerated...
The Inter-American Development Bank (IDB), CAF – Development Bank of Latin America and the Caribbean, and the Caribbean Development Bank (CDB) have jointly launched the Caribbean Multi-Guarantor Debt-for-Resilience Joint Initiative, unveiled during COP30 in Belém. This landmark collaboration aims to strengthen regional disaster preparedness while easing the heavy debt burdens faced by Caribbean...
Barbados has received a major vote of confidence from S&P Global Ratings, which has upgraded the island’s long-term local and foreign currency sovereign credit ratings to ‘B+’ from ‘B’, with a stable outlook. The upgrade reflects the country’s improved fiscal discipline, economic resilience, and effective governance, following years of reform under Prime Minister Mia Mottley’s...
Barbados is poised to become the smallest full member of the Development Bank of Latin America and the Caribbean (CAF), unlocking access to over US$18 billion (approximately BDS$36 billion) in financing for government projects, private sector ventures, and individuals. Finance and Economic Affairs Minister Ryan Straughn introduced legislation on Tuesday to formalize the island’s upgraded status,...
The Caribbean Development Bank (CDB) is hosting the 22nd Annual Meeting of the Independent Accountability Mechanisms Network (IAMNet) from October 6–9, 2025, in Barbados, convening accountability professionals from development finance institutions across the globe. CDB is partnering with the Inter-American Development Bank’s Independent Consultation and Investigation Mechanism (MICI), and the...
Equity financing could be the missing piece to help small and medium enterprises (SMEs) in Barbados scale up and thrive. That’s the view of Marlon Yarde, managing director of the Barbados Stock Exchange (BSE), who believes SMEs have a real opportunity to grow if they embrace equity capital through the BSE’s Innovation and Growth Market (IGM), its junior stock market. Yarde explained that while most...