Bridgetown.
Governor of the Central Bank of Barbados Dr Delise Worrell, says the downgrading of the island's external credit rating to junk bond status by Standard and Poors(S&P) is lacking in logic.
Speaking at a hurriedly called press conference yesterday afternoon Worrell said:"It is a puzzle to us all we can go by is their statement and there is nothing in that statement which justifies the downgrade".
"What they are saying do not make any sense, you downgrade people for the things do or have not done, not for the things that happen to them. I am surprised there has been a downgrade at all because our economic strategy is appropriate to our circumstances and we are not ideologues, we are receptive to any ideal that will allowed us to do better", he added.
Leader of the Opposition Owen Arthur says the Governor of the Central Bank is trying to trivialise the matter.
"To try to cast doubt on the report of Standard &Poor's in the manner in which Dr Worrell has sought to do is not helpful and in fact in my judgement can only worsen the situation because it would seem not only to imply and to underscore the fact, that not only the economy is unsound but it is also in unsound hands", Arthur said.
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