Vaccine Programme To Bolster Barbadian Prime Minister

• The aggressive rollout of COVID-19 vaccines in Barbados and the return of tourism activity will reinforce the popularity of Prime Minister Mia Mottley. As of April 23, 25.0% of the Barbadian population had been vaccinated, a leading position among Caribbean countries.
• The government also has agreements in place to fully vaccinate 42.4% of the population. Given the pace of the vaccination program, Fitch Solutions expects economic activity to normalize relatively quickly following strict lockdown measures enforced in February and March 2021. 
• In the near term, the Mottley administration will focus on fostering economic activity through continued spending and a pledge to not raise taxes in FY2021/22 (April 2021 to March 2022).    
• However, Barbados’ fiscal outlook poses downside risks to Mottley’s re-election prospects as unpopular fiscal consolidation measures will likely be implemented in the run-up to the May 2023 parliamentary elections.

(Source: Fitch Solutions)