Guyana’s central bank is aware of and paying attention to the possible implications of the Barbadian government defaulting on debt owed to local commercial bank, the Guyana Bank for Trade and Industry (GBTI).
Following the suspension of foreign debt servicing by the Barbadian Government, the state defaulted on payments for an unspecified sum owed to GBTI.
Bank of Guyana Governor Gobind Ganga in an invited comment on the issue told Stabroek News that “it’s a little haircut. It means we will have a longer period to have our investment returned, the bank will have to wait but it’s only a small haircut. Barbados has so far offered higher interest rates or longer payback period”
