The local political climate has not escaped the attention of international ratings agency Standard & Poor’s, which is predicting that the upcoming elections will be “close” despite Prime Minister Freundel Stuart’s low rating.
The New York-based agency based its prediction on “divisions” within the Opposition Barbados Labour Party (BLP), although it did not mention the most recent poll which found the governing Democratic Labour Party (DLP) was as unpopular as the Prime Minister.
“Despite the unpopularity of Prime Minister Freundel Stuart [of the] DLP, the election is likely to be close given divisions within the BLP led by Opposition Leader Mia Mottley. Both parties have similar priorities – to restore growth and maintain the currency peg with the U.S. dollar,” S&P said.
In addition, the ratings agency said private sector confidence in the current administration had “fallen” on the account of “ineffective and slow policy responses.
“This includes recurrent delays in many investment projects, the failure to enact a comprehensive fiscal adjustment plan, and declines in international reserves,” it added.