Puerto Rico 2.0? Wall Street Warns of Caribbean Debt Crises
- S&P says pandemic shock unlike any other for region’s debt
- Caribbean nations are among the world’s most tourism-dependent
Photographer: Cristofer Jeschke
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The Caribbean countries of Barbados, Belize and the Bahamas, among the preferred playgrounds for the world’s wealthiest bankers, may soon become known instead for Wall Street’s dark side: Debt crises.
The three nations are some of the most exposed to the sudden stop in global tourism due to the coronavirus pandemic. And after decade-long borrowing sprees, they’re also staring down big bond payments, raising concern over how the Caribbean region can repay its debt.