Barbados has been lauded for its implementation of its economic reform program, while expanding critical investments in social protection.
That the result of an IMF staff visit via videoconferencing between August 25-28, 2020, to discuss implementation of Barbados’ Economic Recovery and Transformation (BERT) plan. The Fund noted that all indicative targets for end-June under the EFF were met, with reserves now exceeding US$1 billion.
The targets for international reserves, net domestic assets and the primary balance were met with some margin, which bodes well for meeting the end-September EFF targets. “Good progress also continues to be made towards implementing structural reform under the EFF. The two structural benchmarks for end June 2020, related to tax and customs administration, were both met. A revised central bank law is expected to be ready to be sent to Parliament in September,” noted the IMF. (IMF)
Extract from the CARICOM BUSINESS Newsletter, Vol 3 No 35
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