Mottley says debt‑for‑social swap will free $150 million for health in Barbados

Prime Minister Mia Mottley of Barbados described concrete financial operations she said her government has used to free resources for social services. She said Barbados has completed two debt swaps and is undertaking a third — a debt‑for‑social swap that will repurchase $600 million of debt and yield approximately $150 million in savings to be spent on health institutions over three years.

Mottley framed these operations as part of the broader Vulnerability to Viability (VTV) effort and said the goal is longer, cheaper money that matches the life of assets like schools and hospitals. "We're doing the 1st debt for social swap that will conclude on the December 31... the savings from that is a 150,000,000 US, which would be applied across a 3 year period to the health institutions of the country," she said. She urged leaders to take incremental but concrete steps where they can to inspire others.