Another OECD hit

RONALD TOPPIN speaking to the media at BMEX on Saturday. (Picture by Christoff Griffith.)

Barbados’ ability to attract foreign investors is still at risk.

And Minister of International Business and Industry Ronald Toppin isn’t happy.

The minister announced yesterday that the island’s fate was hanging in the balance as it could be facing a possible financial downgrade next week.

He was speaking via Zoom during the launch of the Barbados International Business Association’s Global Business Week 2020.

“We are now poised to face another pending challenge,” Toppin said. “In relation to Barbados’ compliance with the OECD’s (Organisation for Economic Co-operation and Development) Global Forum standard on the exchange of tax information, coming out of the Global Forum’s 2015 report, Barbados was required to implement a number changes in its framework between July 2015 and June 2018.”


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