Barbados: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Barbados

August 26, 2016

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Barbados: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Barbados, (USA: International Monetary Fund, 2016) accessed December 26, 2024

Summary

This 2016 Article IV Consultation highlights that the economy of Barbados appears to have turned a corner with a pickup in activity. Real GDP grew by 0.8 percent in 2015, underpinned by an increase in private investment and a surge in tourism arrivals, which increased by 14 percent, among the highest in the Caribbean. This boosted employment by 2 percent, while the unemployment rate fell to 11.3 percent. Inflation eased owing to lower import prices, with end-period prices falling by 2.5 percent. Net inflows in the capital and financial account fell, driven by large official amortization payments and lower foreign direct investment. As a result, net international reserves dropped to US$469 million at the end of April 2016.

Subject: Arrears, Banking, Commercial banks, Credit, Economic sectors, External debt, Financial institutions, Money, Public debt, Public sector

Keywords: Arrears, Caribbean, Commercial banks, CR, Credit, Deficit, Global, Government finances, Interest cost, ISCR, Non-interest expenditure, Public sector, Reform effort, Staff appraisal

Publication Details

Pages:

77
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/279
Stock No:

1BRBEA2016001
ISBN:

9781475530353
ISSN:

1934-7685

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