An International Monetary Fund (IMF) staff delegation is recommending that another $48 million be made available to Barbados.
If the advice to the IMF’s Executive Board is accepted, the money could be disbursed by next month and would bring to $860 million the loans Government has received under the four-year Extended Fund Facility (EFF) signed in October 2018 in support of the Barbados Economic Recovery and Transformation (BERT) programme.
This was outlined yesterday in a statement issued at the end of a five-day virtual visit by the IMF team during which the sixth review of the EFF, and the 2021 Article IV Mission were completed.
While saying that Barbados passed the review and “continues to make good progress in implementing its comprehensive economic reform programme”, the IMF staff team said the country “faces economic challenges owing to the ongoing global pandemic”. (SC)
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