Bridgetown.
A day after the international rating agency Moody's downgraded Barbados domestic credit rating, another agency Standard & Poor's(S&P) says the island's economy is accelerating and rated the island's economic as stable.
Analyst Olga Kalinina, who has been tracking Barbados economy for several years said that the economy has bottomed out and that economic activity is now accelerating.
Kalinina said that S&P would upgrade Barbados' rating if the country's economic prospects strengthened in a sustained way or if fiscal accounts showed structural improvement.
Minister of Finance, Chris Sinckler, told Trakker News that S&P report is a vote of confidence in the Government's efforts to reduce the fiscal deficit and bring greater discipline to the public finances.
