Government has announced its third major debt swap, specifically designed to fund the fight against non-communicable diseases (NCDs), as part of a move to link national finance with public wellness.
During a surprise appearance at the BHTA’s first quarterly meeting for 2026, Finance Minister, Ryan Straughn, detailed how this “financial engineering” is intended to create a healthier, more productive workforce as part of a broader plan to shift the national economy into “fifth gear.”
The new debt-for-social swap aims to redirect high-interest debt payments toward addressing hypertension and diabetes — conditions that officials say are causing significant losses in national productivity.
”Our NCD crisis is causing significant loss of productivity,” Straughn noted. “As we are doing this financial engineering to focus on health, it will have a cascading impact, successfully executed right across every enterprise in Barbados.”
He emphasised that the “charm” of Barbados, and the reason for its high rate of repeat visitors, lies not in the infrastructure, but in the people.
“If we understand that is part of the equation with respect to what gives Barbados the charm, then we will be able to not just generate profits and foreign exchange, but also enable our people to feel a part of the success story of the country,” Straughn said.
Meanwhile, the minister revealed plans were in the works to end the cyclical nature of Bajan tourism.
Straughn disclosed that government was partnering with the Development Bank of Latin America and the Caribbean (CAF), to launch a programme titled SOMOS (Spanish Opens More Opportunities).
He explained that the goal is to eliminate the traditional “seasonal gap” between April and November by targeting 50,000 tourists per country across Latin America. To facilitate this, the government is rolling out a massive Spanish-language training program for the tourism sector, supported by several regional embassies including those of Argentina, Cuba, Panama, Venezuela, and Colombia.
”We have to remove the April to November seasonal gap. We need to identify across Latin America 50 000 tourists per country. As the minister is bringing the airlift here, we need to move in that direction as quickly as possible, such that the bounty you see between December and April continues all the way through the year,” Straughn said.
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