IMF Staff Country Reports

Barbados: First Reviews Under the Extended Fund Facility and Under the Resilience and Sustainability Facility, Requests for Modification of Performance Criteria and Reform Measures, and Rephasing of Access Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Barbados

July 5, 2023

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Barbados: First Reviews Under the Extended Fund Facility and Under the Resilience and Sustainability Facility, Requests for Modification of Performance Criteria and Reform Measures, and Rephasing of Access Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Barbados, (USA: International Monetary Fund, 2023) accessed November 15, 2024

Summary

After successfully weathering a series of shocks in recent years, the Barbadian economy is recovering strongly driven by a rebound in tourism and related activities. Public debt was brought back onto a downward trajectory and international reserves have risen to over 7 months of imports. The authorities are making good progress in implementing their updated Economic Recovery and Transformation (BERT) plan and their ambitious climate policy agenda. Following the completion of the 2018-22 Extended Fund Facility (EFF), a successor 36-month EFF arrangement along with a Resilience and Sustainability Facility (RSF) were approved in December 2022. The authorities are strongly committed to strengthen fiscal sustainability, advance structural reforms, and increase resilience to climate change and natural disasters.

Subject: Climate change, Climate finance, Credit, Environment, Fiscal policy, Fiscal stance, International organization, Monetary policy, Money, Public debt

Keywords: Barbadian authorities, Caribbean, Climate change, Climate finance, Climate policy agenda, Credit, Fiscal stance, Global, Government dependence, Policy reform, RSF arrangement

Publication Details

  • Pages:

    117

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2023/241

  • Stock No:

    1BRBEA2023001

  • ISBN:

    9798400247644

  • ISSN:

    1934-7685

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