Barbados has emerged a leader on the global stage in recent years, building on its impressive economic recovery, environmental leadership, and commitment to sustainable development.
Dr Irfaan Ali, President of the Cooperative Republic of Guyana, addressing the Barbados Labour Party’s 85th Annual Conference Awards ceremony at the Christ Church Foundation School, noted that under the leadership of Prime Minister Mia Mottley, Barbados has transformed from a small island state grappling with severe economic challenges into a globally recognised force for change, particularly in areas like climate action and economic resilience.
“It is about Barbados. Barbados today is in a better place. Barbados today is recognised for global leadership.”
In his hour-long address, the Guyanese head of state highlighted the critical steps made towards overcoming internal challenges and navigating a difficult global environment, emphasising how the country’s success is not just a story of survival but one of bold, transformative leadership.
Ali suggested Barbados’ rise to prominence was rooted in its ability to recover from severe economic distress. Facing a debt-to-GDP ratio of 158.3 per cent in 2017, the country found itself on the brink of financial disaster. However, through the Barbados Economic Recovery and Transformation (BERT) plan, the government was able to restructure its economy and restore fiscal stability within just a few years.
“You navigated these challenges from a debt-to-GDP ratio in 2017 of 158 per cent,” he said. “But Barbados took a different approach in entering the IMF programme. Whilst many countries would have entered an IMF programme before, and some of them are still in those programmes, Barbados took a different approach. You negotiated what you called the BERT plan. And look what you achieved — significant economic progress in just three years.”
He recounted that by 2019, Barbados had reduced its debt-to-GDP ratio to 119 per cent, secured a fiscal surplus of 3.5 per cent, and amassed an impressive 38 weeks of import cover. Dr. Ali stressed that these achievements were remarkable for a country that had faced such significant internal and external pressures.
“These are not accomplishments to take lightly,” he remarked. “They show a country not only recovering but thriving, proving that even against daunting odds, you can achieve greatness.”
He also underscored how Barbados’ economic recovery serves as a model for other small island developing states (SIDS), many of which face similar challenges. “Barbados’ experience is a lesson for all nations that face economic difficulties. It’s about how you approach the problem, how you build resilience, and how you lead with a vision for a sustainable future.”
In a wide-ranging address, Ali noted that while economic recovery is a critical part of Barbados’ success story, the country’s leadership on climate change has brought it international recognition.
Prime Minister Mia Mottley has become a leading voice for small island developing states, advocating for urgent global action on climate change and calling out the hypocrisy of larger nations that contribute disproportionately to global emissions.
He lauded Barbados’ role in championing the interests of vulnerable nations on the global stage, praising the country’s commitment to environmental sustainability and innovation, pointing to initiatives like the Bridgetown Initiative, which focuses on restructuring finance to support climate adaptation and mitigation efforts.
“The Bridgetown Initiative is another key accomplishment of the Barbados government,” Dr Ali said. “This approach to restructuring financing and looking at ways in which we can raise new financing for adaptation and mitigation has become a model for small island developing states.”
He went on to praise Prime Minister Mottley’s leadership in this area, noting that Barbados has become a “trusted speaker” in global discussions on climate action, food security, and energy.
Despite the praise for Barbados’ achievements, Guyana’s president also warned of the potential consequences that come with fearless global leadership. In particular, he noted that speaking out boldly on issues like climate justice and international finance reform can lead to opposition from powerful nations and institutions that benefit from maintaining the status quo.
“There are consequences for such fearless voices,” Ali warned. “I am warning you now. There are consequences for such fearless voices. But when those voices are ready to take on and deal with any consequences in the interest of country, region, and a better world, then those are the voices that we must support.”
As he pointed out, “The path to true global leadership is not without its risks, but Barbados has shown that it is willing to take those risks for the greater good.”
Another key initiative he highlighted was the One Family Programme, a poverty alleviation effort that focuses on providing financial literacy and economic empowerment to vulnerable households.
He also praised Barbados’ efforts to integrate technology into its education system, turning secondary schools into centres of excellence with digitisation as a key foundational pillar. (RG)
The post Guyana President praises Barbados’ global leadership appeared first on Barbados Today.