Debt swap ‘could unlock $320m for health’

June 10, 2026

Minister of Finance Ryan Straughn has announced plans to unlock more than $320 million in debt savings to fund health programmes and tackle childhood obesity in Barbados.

He made the disclosure on Wednesday during the Heart and Stroke Foundation’s Mass Media Campaign Launch to restrict unhealthy food and drinks in schools at the Bridgetown Seventh-day Adventist School.

Describing childhood obesity as one of the country’s greatest threats, Straughn said the government was committed to reversing an alarming trend that has seen childhood obesity rise from 33 per cent to 42 per cent.

Minister of Finance Ryan Straughn (Photo Credit: Lourianne Graham/Barbados TODAY)

“The Government of Barbados, working with the partners here, are committed to seeing this through because this is perhaps the most existential threat to the sustainability of Barbados.”

The finance minister revealed that the ministry had recently launched a request for proposals for a debt-for-social swap initiative, which would allow the government to buy back debt and redirect savings towards health-related spending, including behavioural change programmes.

“To buy back some debt and use the savings to divert to alternate sources, and we have identified health as the means by which we will be able to use the savings that we’ve calculated. We are planning to buy back $1.2bn in debt aimed at generating about $320m in interest savings, and we’re going to take those interest savings and divert them to health expenditures, part of which is to address behavioural change.”

The initiative would complement ongoing efforts to improve nutrition and reduce obesity among children, he said.

Straughn also disclosed that Barbados would continue working with Guyana and Suriname to strengthen regional food security and improve access to affordable, nutritious food.

“The school nutrition policy, as well as the campaign which is intended to get into every home, we are going to augment that through programmes for the Ministry of Health, which will augment the work that is being launched here today, because we really have within the next three to five years to see these numbers come down.”

Barbados had spent more than $6.1 billion on healthcare over the last 15 years, but argued that greater emphasis must now be placed on changing eating habits and preventing disease before it develops, he added

“The Government of Barbados has spent over $6.1 billion in healthcare, that’s a lot of money to be spending on health and I want to emphasize that Barbados’s public and social policy has always been predicated on investing in education, so we’re here in the school which is intended to deliver better fortunes for each generation but equally ensuring that access to healthcare does not in any way cause a family to be bankrupt,” said Straughn.

Pointing to projections that nearly half the population could be over the age of 65 by 2050, he warned that the country’s obesity crisis would place increasing pressure on future generations if left unchecked.

“Almost 50 per cent of the population will be over 65 [by 2050] so no pressure, young people, but the reality is that if we have already, we are already facing a significant issue with non-communicable diseases and if we have almost one in two children today, who will face similar circumstances for a much longer part of their life, then it really is on us as a society, to ensure that we genuinely arrest this problem.”

He compared the issue to the country’s ongoing fight against crime and violence, arguing that both require urgent national attention.

“In the same way, we are currently dealing with the issues related to crime and violence in the country, this is a slow walking epidemic, pandemic, call it whatever you like, that is just as important to address in our daily lives in the same way that we have to address the deviance and the criminality that is pervasive in our society,” he added.

Straughn said young people must be empowered to become advocates for healthier lifestyles.

“We will continue to invest in providing the best possible educational opportunities, but we also must invest to ensure that we provide the best health outcomes because the two things, they must coexist if the future of Barbados is to be assured.”

He also encouraged children to challenge unhealthy habits at home by discussing nutrition with their parents and guardians.

“If they love you, then they will work with all of us to ensure that you, the students, you, the future of Barbados, that we can work together to ensure that your future is as bright as possible.”

“If we the adults don’t fix our own eating habits, then we are passing a larger burden on the very young people who are already at risk based on these numbers to not just deal with your circumstance, but having to deal with yours as well as your parents.”

The finance minister stressed that physical activity must form part of the solution, both in schools and within communities.

“During school time or after school time, it means that in our communities, we must create spaces for more programming for children to run about. The reality is this: every 15 minutes, every half hour of additional physical activity that is relatively intense over time makes a difference, and therefore incorporating physical activity, including changing your diet, is going to be how you are going to make the change individually,” he explained.

He said government was also seeking to unlock additional resources through education and agriculture initiatives aimed at promoting healthier eating habits.

“With the introduction of more agricultural programs within the schools, marrying agriculture and education in schools. Partnering with the BCC and their hospitality program to train young chefs and the students as to how to cook…but there’s nothing like good cooked food, is really what is going to be the difference, but you’ve got to balance it.”

Straughn urged students to become ambassadors for healthier lifestyles by supporting one another, encouraging their families to make better choices and helping to drive down childhood obesity rates across Barbados.