BRIDGETOWN, Barbados, CMC -The Barbados-based Caribbean Development Bank (CDB) says it has joined leading multilateral development banks (MDBs) in high-level talks with the world’s three major credit rating agencies (CRAs).
The CDB said the collaboration is to advocate for reforms to rating methodologies that better reflect the unique financial structures and risk profiles of development finance institutions.
It said that the event, hosted by the Inter-American Development Bank (IDB), took place on the sidelines of the Spring Meetings of the International Monetary Fund and World Bank Group.
The region’s premier financial institution said it marked the fifth session in a continuing series launched in response to the G20-sponsored Independent Review of MDBs’ Capital Adequacy Frameworks (CAF) and the first meeting of 2025.
The discussions focused on enhancing technical engagement between MDBs and CRAs. The participants also reviewed the progress made in implementing the recommendations of the G20-sponsored Independent Review of MDBs’ Capital Adequacy Frameworks (CAF) and the way forward.
“MDB participants reiterated the importance of ensuring that credit rating criteria properly reflect the risk-mitigation mechanisms inherent in MDBs’ business models. CRA’s – Standard & Poor’s Global Ratings, Moody’s Ratings, and Fitch Ratings – expressed appreciation for the continued structured dialogue and acknowledged the progress in strengthening mutual understanding.”
The CDB said the next roundtable is scheduled for October this year.
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