Barbados will continue to see a modest economic recovery in the coming quarters as US growth continues. A strengthening US consumer will boost tourism, driving growth. High debt levels and unemployment will continue to weigh on Barbados' sovereign position. However, growth will benefit from new investment into the tourism industry.
Barbados will face economic headwinds in the coming years in light of a rising debt burden, fixed exchange rate regime, and modest growth prospects. These factors mean that we do not rule out additional credit events or major balance of payments corrections.
Guyana's long-term economic outlook is supported by huge finds in the Liza discovery which holds between 800mn and 1.4bbl bbl of potential recoverable resources and is operated by ExxonMobil alongside partners Nexen and Hess.
Offshore oil assets will have a broad positive effect on the Guyana economy, which will benefit from job creation and royalties, as well as subsequent increases to public spending and services.
Spurred by rising calls from the public, Guyana's APNU/AFC coalition government will move forward with constitutional reform efforts in the coming quarters. The push will focus on a revision of the current proportional representative electoral system, offering the potential for an easing of ethnic tensions which stand at the centre of long-term political risks in Guyana.